5 Intriguing Facts About Real Estate Marketing in Toronto
Are you still advertising your real estate business through signs on the side of the road? Are you only informing buyers of homes for sale through the image listings in your window? These outdated methods of real estate marketing in Toronto are no longer enough to keep you ahead of the competition and foster business success. Instead, it’s time to inform yourself of some local marketing facts and come up with some unique real estate marketing ideas in response.
The Q2 real estate report indicated that, on average, a home in Toronto stayed on the market for only 13 days, and sold for just over $978 000. From a marketing perspective, this means professionals need real estate marketing tools that can get their sale in the face of the target audience quickly or it will be snapped up before the ideal buyer has a chance to see it.
The average price of a detached home fell 9% in the first half of 2018. But in certain neighbourhoods, such as Trinity-Bellwoods and Little Italy, detached homes are making strides and markedly increasing – by as much as 17 percent. Marketing to target and niche audiences and locations is an example of a sound and unique real estate marketing idea which can be applied to garner more business.
With the increasing cost of buying a home, and the high value down payment that is typically required, those who are looking to buy, are finding resourceful and inventive ways to make it happen. Marketers should find inventive ways to reach an audience as well, knowing that many are not choosing the traditional route when it comes to first-time ownership.
Houses cost double what they did a decade ago and the Swiss Bank has ranked Toronto at the top of its Global Real Estate Bubble Index. This puts Toronto above London, San Francisco and other “known as unaffordable cities” when it comes to being able to purchase a home. Real estate marketing in Toronto requires marketers to paint a picture of how to make housing affordable, not that it is unaffordable.
Scarcity tactics are one factor that is playing a role in home price increases. When homes appear limited, potential buyers offer more, are willing to pay more, and act faster than if they didn’t think there was a timeline on the property. This same mentality can be applied to digital marketing: crafting a marketing strategy that indicates a sense of urgency and encourages buyers to act quickly is one of several unique real estate marketing ideas that professionals can apply.
Whether you need help with marketing, need some ideas to get you started, or simply feel like your current marketing strategy isn’t bringing you success, Agent8 is here to help. Reach out to us today to find out how we offer real estate marketing tools to companies all across Toronto to situate them ahead of the competition in their digital presence.