When is Narrowcasting Better than Broadcasting in Real Estate ?

Broadcasting is an assumed par for the course when presenting a new property for sale in Toronto. According to many in the industry, the only way to sell is to market aggressively out of the gate, through low pricing, extensive staging, and broadcasting widely. The logic follows that the more eyes there are on the property, the more likely it will be sold for top dollar. This is a fair assumption and witnessed daily in Toronto's fast paced, seller's market. This method works well for many properties ... except for when it doesn't.

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Marketing Systems Be Damned ... Why A Customized Marketing Approach Is A Much Better Proposition.

Wouldn’t it be great if there was a one size fits all strategy that could be used to market your property to potential buyers? You could just plug some pictures into a template, send out a mass mailing to an email list and then have a nap while your ‘marketing’ continues on auto-pilot. We’ve been in a seller’s market for as long as most of us can remember, so your property will likely just sell itself in a couple of days without marketing anyway, right? I’m sure there are many a seller and even realtors who think that is how it now works. I’ve observed something very different.

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To Stage or Not To Stage is Not the Question

Staging your home for sale can be an expensive endeavour. It can easily cost you over $5,000 to stage an average 3 bedroom house, and this price tag is just for the rentals. It does not include the cost of all of those little fixes you always wanted to make, some day, when you had time - which is code for when your back is up against the wall with a hard and fast deadline. Nor does it include the storage locker for your stuff, the movers who schlep your stuff to it, the cleaning crew that gives your house an industrial strength once over. 

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The Real Price of Marketing

If you’re a soon-to-be seller, “how will you market my property?” is no doubt on your list of questions for your agent. When you ask it, you may be thinking of colour brochures, open houses, magazine spreads, or an online video, ideally the kind that goes viral. My advice is to shift that question to: “who are we marketing to and what is the best way to reach them?”, but that is an article for another day. Today’s episode is about your single most important marketing move, the one you are in complete control of and matters more than anything else you choose.

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