HOW TO ESTABLISH YOUR MARKETING BUDGET?

Selling an apartment in the prestigious St Kilda Road precinct requires a strategic marketing approach different to most other areas to maximise exposure and attract the right buyers looking for the specific attributes the area offers.

Here's how to establish an effective marketing budget:

Understand the Importance of Marketing

Effective marketing can significantly influence the sale price and time on market. A well-marketed property can create competition among buyers, potentially leading to higher offers. Investing in marketing is not just about selling your property; it's about achieving the best possible outcome.

Determine Your Budget Based on Property Value

For apartments valued between $360,000 and $1 million, a marketing budget typically ranges from 0.5% to 1% of the property's value. This equates to approximately $1,800 to $10,000. The exact amount depends on various factors, including the property's unique features and the level of competition in the market.

Allocate Funds to High-Impact Marketing Channels

Prioritize marketing channels that offer the highest return on investment:

  • Professional Photography and Videography: High-quality visuals are crucial for online listings and brochures.
  • Online Listings: Feature your property on major real estate platforms to reach a broad audience.
  • Social Media Advertising: Targeted ads can attract potential buyers actively searching in your area.
  • Print Advertising: Consider local "Area Guides" that cater to your target demographic.
  • Brochures: Professionally designed brochures can capture the interest of open house attendees.

Consult with a Local Real Estate Expert

Engage with a real estate agent totally familiar with the St Kilda Road apartment market. They can provide insights into effective marketing strategies tailored to your property's unique attributes and the preferences of potential buyers in the area.

By thoughtfully allocating your marketing budget and leveraging the right channels, you can enhance your property's visibility and appeal, leading to a successful sale. 

If you need further assistance or personalized advice on marketing your property, feel free to reach out.

Contact Mike Bentley, your local 416-418 St Kilda Road expert

Text, call or WhatsApp0468 314 999


Contact Mike Bentley, your local 416-418 St Kilda Road expert