Promoted by Domain
What value would you place on being able to pinpoint where active buyers are located, and then demonstrate to prospective clients how you will craft a targeted campaign to drive enquiries from those buyers?
For Domain Platinum agents, the data is at your fingertips with the newly launched Domain Insights. This tool not only provides statistics on out-of-area buyers, but also on supply and demand for any given suburb, property value estimates, median sale prices tailored to property type and a look at how private treaty sales compare to auction campaigns.
McGrath Bayside Manly agent Joseph Lordi says the new tool gives him a massive advantage when it comes to winning new business.
“When you ask vendors if they know where buyers are coming from, they always say no,” he says. “Domain Insights provides a breakdown of who the buyer is and where they’re coming from, which gives me a point of difference when I go into listing presentations.”
For Ray White Prestige Gold Coast agent Josh Thomas, the reports generated by the tool provide a credible source of data on where potential buyers live, which in turn can provide clues on what their budgets might be.
“A lot of the time buyers are from interstate, and we need to spend advertising dollars in those markets,” Thomas says and by giving him the numbers to back up his recommendations, Domain Insights can help secure vendor paid advertising.
Lordi agrees that in today’s market, to make the most of digital advertising you need to be very specific about who you try to target, that’s why he uses Domain Insights to narrow down the target market.
“It shows the vendor that you’re creating a more tailored campaign for their property rather than just blanketing everyone with no duty of care or strategy,” he says. “You could spend $10,000 on marketing but it could go to the wrong people.”
Lordi points to the success of a recent campaign for a property located in Tarragindi, a suburb south of Brisbane. Using Domain Insights, he demonstrated to the vendors that buyers were more likely to hail from Sunnybank or Stretton and with the vendor’s go-ahead, used Domain Social Boost and social media advertising to target buyers in those suburbs.
“Our eventual buyer came from that area and paid well above what other buyers would have paid,” he says.
LJ Hooker Ashfield agent Deeb Fajloun says he has found Domain Insights to be both convenient and user-friendly.
“The Insights are a good addition for an agent on the go,” he says. “We use it when we’re going into appraisals, showing clients we get real-time data available to us immediately without having to go back to the office. And we can send the information on to clients wherever we are in two clicks.”
Fajloun says the insights help vendors to better understand the reasoning behind the pricing of their property, providing valuable evidence that an agent isn’t just “fudging the numbers”.
The upshot is greater transparency throughout a campaign.
“My main goal is to educate vendors,” Fajloun says. “Having instant access to information is key in this day and age.”