Latham Lockwood, Photo by Manawatu Standard
By Sue Emeny, Manawatu Standard
Real estate salespeople are rapidly embracing technology changes and finding new ways to market properties.
None more so than newcomer to the industry Latham Lockwood who last week received an award for a multi-media marketing campaign he created.
The campaign received a highly commended award at the Real Estate Institute of New Zealand 2012 Excellence in Sales Awards in Auckland.
Latham planned the campaign for the first house he sold, which just happened to belong to his grandmother Ann Watt who was looking to sell her Cloverlea home and move into a smaller unit.
‘‘Gaining the award was even more special because it was my grandmother’s house.’’
The house had been renovated five years earlier with a new kitchen installed and new wallpaper, drapes and carpets fitted and was immaculately presented.
Because the house was in the $220,000 to $240,000 price range Latham says he knew it would attract first home buyers who concentrate their search for a house on the internet. Consequently a strong focus of his marketing campaign was internet based.
Latham’s strategy was to list the property on three internet sites. But he also ran a quarter page advertisement in Property Weekly in both the first and second week of the campaign, listed the property on the agents’ database, dropped 500 flyers into letterboxes, used a professional photographer and erected a large photo signboard outside the property.
In the first week the house was on the market, Latham says over 20 groups went through the property, around 10 attended the open home and there three offers were submitted.
‘‘This was in Winter 2011 when there were fewer homes on the market, it was before the spring rush. It proved the timing was right.’’
The success of Latham’s campaign was evident when the property sold within 16 days of going on the market and fetching $15,000 above the rateable value at the top end of the marketing price range.
‘‘By using the right techniques and marketing tools we managed to save costs.’’
The total cost of marketing was $465, representing a rate of return on the marketing investment of $16 for every $1 spent.
Latham joined the real estate industry a year ago, taking with him a marketing, negotiating and management skills. He sold 11 houses in his first year.
He says he is still putting in the hard yards, but he lives and breathes sales and marketing.
‘‘Every house is different so it needs marketing package that is tailored to the owners budget and what will have the greatest impact.’’
