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The “What’s your home worth?” ads carry less weight, in part because they’re overused, but also because today’s consumers balk at giving out their home address.
NEW YORK – Careers in real estate are so popular that there are more real estate professionals than U.S. homes for sale. As a result, many agents focus on securing leads in today’s post-pandemic, digital world.
A company called Roomvu studies the type of ads that help agents find and qualify seller leads. This involves looking at real estate ad creatives, audience behaviors, targeting levels and why so much money was invested in running unproductive ads.
Roomvu found that ads asking “What’s your home worth?” are not as effective as they once were, in part due to overuse, and in part because fewer consumers are willing to give their home address out to strangers.
An alternative approach is to say, “See what your neighbors are selling their homes for,” or “See how much your home will sell for.” This ad still requires guests to provide a postcode/address, but this time it’s geared to obtaining information they want or need.
Agents can also create a list of homes under a certain price and get the seller to provide their address to see a more relevant list.
Roomvu found that such changes can reduce costs by up to 50% per lead. It can also be effective to find a way to target qualified and local buyers and sellers within a 25-mile-or-less radius.
Source: Forbes (07/14/22) Mehrbod, Sam
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