Printed letterbox drops have long been a staple of real estate marketing. They enable real estate agents to target specific streets or suburbs with information that may interest would-be vendors who live in the local area.
But in the digital age, there’s a far more effective way of reaching your target market. Facebook advertising is the equivalent of a letterbox drop, only digital, making the traditional letterbox drop a thing of the past.
Do Facebook Ads Work for Real Estate Agents?
Here are five reasons most Real Estate Agents are giving letterbox drops the flick and heading online to a smarter, easier way to advertise.
1. More Cost effective
Let’s say you print up two thousand glossy brochures. The cost of printing would be around 15cents each – $300. That’s not including design costs. Then you have to pay someone to walk the streets and deliver them (and trust they don’t dump half of them in the nearest wheelie bin!). It would cost you way more than $300 all up, but let’s just use that as a figure. If instead you invested that $300 into Facebook advertising, not only would your message reach way more than 2,000 people, but you would be targeting your ideal clients – those considering selling their homes or buying a property. It makes more sense to market only to people in the neighbourhood who are genuinely interested in real estate, not just everyone.
2. More Time efficient
You may decide to take those flyers out yourself and hand-deliver them from letterbox to letterbox. That might be a great way to get fit, but not an ideal use of your time. It makes sense to use Facebook geotargeting to target those same residents with Facebook advertising.
3. Greater chance of being seen and read
A printed letterbox flyer gets looked at once (if you’re lucky) then thrown away. Most never make it into the house, going straight into the recycle bin. You only have one chance to reach someone in those few seconds when they clear out their letterbox.
Facebook advertising is working for you 24/7. It’s reaching your potential sellers and buyers when they’re on their phone on the train, sweating it out at the gym, taking a break from the housework, or doing a bit of sneaky social media at work! Your ads appear when people are relaxing at home or away on holidays.
4. Dynamic updates to your advertising
Once you print up your letterbox flyers, you’re stuck with them. But what if your vendor agrees to adjust the price of their property? With Facebook ads, you can update your ads mid-campaign should something change.
5. Targeted advertising
Stats show your letterbox flyers will be read by less than one percent of people. Not only that, you have no way of finding out WHO that one percent was unless they decide to call you. It’s pot luck advertising.
Here just one recent example of a ListingLogic Facebook ad that we ran for a property for sale in East Brisbane. The vendor spent $275 on the ad, and reached – wait for it – 15,434 people! The video was watched 5,698 times. But here’s the sweetest part – these people weren’t just your average Joe. They were living in the local area and in the market to buy property.
How does it get any better than that? Here’s how…101 of these people clicked through to view the listings in more detail; 21 of these people showed interest, with 4 indicating they were very interested in the property. Now ask yourself, how long would it take for you to drop your flyers into over 15,000 homes? Oh and that’s 15,000 homes of people who are interested in property.
Not only this, the cost per view was $0.03. Compare this to the $0.15 per printed letterbox drop – you are miles in front on delivering bang for buck for your vendor.
Start Facebook Advertising today
ListingLogic auto-creates optimised Facebook ads for your property listings and publishes them to potential buyers and sellers. In doing so, it builds a custom audience of engaged users that you ‘own’ for your own future remarketing activities. This means over time, you can better define and target the people who are interested in properties for sale in the area. This is something printed letterbox drops can never achieve.
All the results of your ads are automatically measured when you run a ListingLogic campaign in an easy to read live data report that is accessible to you and your vendor at any time and on any device. Not only that, the results of all of your campaigns are collated and reported on your agency Data Dashboard. This is a great tool to use in listing presentations to show a potential vendor the results of past campaigns in that area, and what to expect from including a ListingLogic campaign in their property marketing package.