Remember the days when property searching involved reading through the classifieds section of the Saturday paper and circling the properties you wanted to view?
Online property portals such as realestate.com.au and domain.com.au may have put an end to this time-consuming practice but even so, print advertising isn’t dead yet.
In fact, for some properties, we’d argue it’s as essential as it has ever been. Here’s why.
Print advertising in Sydney’s eastern suburbs
There’s no doubt there is now significantly less print advertising in real estate than there once was. That’s understandable when it’s easier and cheaper to reach most buyers using online portals and digital options such as social media.
But for the right property and the right audience, print still has an enormous pull.
Take, for instance, our local paper the Wentworth Courier. Data from News Corp shows it still enjoys a print readership of 64,000 people. Of these, it claims one in five (12,800) have either bought property in the past 12 months or intend to buy or sell property in the next 12 months. That alone makes for a reasonably powerful argument for print.
Every week we place print advertisements for many of our properties in the Wentworth Courier. We also advertise select properties in the mainstream press, including Fairfax’s Domain and Domain Prestige Magazines.
According to Domain, 1,153,000 people read its magazine each month, which goes out with Friday’s AFR and Saturday’s Sydney Morning Herald. On top of this, 315,000 people a month read Domain Prestige.
How print advertising complements digital advertising
Anecdotally, we almost always see a spike in web traffic on a property each time it goes out in print. This tends to indicate that many people will notice a property in print first and then research it more fully online.
Domain claims that this means listings printed in its magazines spend 14 fewer days on market than properties listed only online.
If that doesn’t convince you, consider some 2015 RP Data research that revealed that marketing campaigns which used a combination of online and print advertising resulted on average in a higher sale price.
The same research found that combining newspaper advertising with an online campaign significantly increases the likelihood of a successful sale and often decreased the time a property spent on the market.
Why print advertising is still important in getting buyers through the door
We also believe printed media offers something very different to realestate.com.au or domain.com.au.
While searching online is convenient, applying filters to search criteria means buyers often narrow down their search too much, too soon. They may specify a number of bedrooms or bathrooms they don’t require or could easily alter through a renovation. Alternatively, they may pinpoint a particular suburb (few buyers press the other suburbs button), which means a property just a few streets away doesn’t show up.
If your property doesn’t appear in their strict search checklist, then it’s effectively invisible.
Print also captures the attention of a group we call passive buyers. These are buyers not actively looking to buy a property, but prepared to act if something captures their interest. Print advertising can be very alluring to his group and have an emotional, aspirational pull.
We never encourage vendors to use print alone. Online advertising is a valuable part of any modern property campaign. But for many sellers, it can help promote your home to a wider audience and ultimately help you get the best result.
It can also encourage buyers to open their minds so that they’re not too strict on their online search criteria. And that can help them find the perfect property, which may have been invisible otherwise.
If you’re looking to buy or sell property in Sydney’s eastern suburbs get in touch with my team today.
Sydney’s Eastern Suburbs Market Snapshot
A detailed annual assessment of the property market focusing on the Eastern Suburbs of Sydney, Australia.