Main menu
Main content

News

The hits and misses of real estate in 2013

Article particulars

12 December 2013

The hits and misses of real estate in 2013

Main article content

This time last year we made a few predictions about what we thought would happen in the world of real estate in 2013. And now that the year is almost over, it’s the moment of truth; let’s see how we did!

1. Social media gets strategic

We said: That agencies would get more creative and strategic with how they used social media.

What actually happened: Agencies got more creative and strategic with how they used social media. Rather than simply posting links to every single listing, the agencies who are succeeding on Twitter, Facebook and Google+ are doing a much better job of figuring out what their audience wants and engaging accordingly (and if you’re still struggling, our social media do’s and don’ts might help.)

2. Content is king

We said: More agencies would begin to engage with unique editorial content, both in print and online, to really make their brands stand out.

What actually happened: Exactly that. With SEO and SEM now standard parts of every marketing strategy, quality editorial content that can be used across print and online mediums is a necessity. More and more of our clients are embracing it, and Google’s recent Hummingbird update is sure to accelerate the trend in  2014.

3.  Bold brands will win big

We said: The lacklustre property market of 2012 meant brands played it safe with their marketing; those who wanted to stand out in 2013 needed to think big.

What actually happened: The strength of the 2013 property market and increasing confidence, especially in the second half of the year, means we’ve seen clients chomping at the bit for marketing strategies that will set them apart. Whether it’s been revamping a tired brand, building engaged online communities or producing a property magazine with stellar lifestyle content, real estate agencies raced to embrace new strategies in 2013.

4. Letterboxing continues to deliver

We said:  Letterboxing will continue to be the cheapest way to reach your farm area reliably and regularly.

What actually happened: Rumours of the demise of letterboxing have been greatly exaggerated – again. There is still no more cost-effective way to target a particular geographical area. This is a marketing technique that’s here to stay.

5. Strategic spending

We said: That in 2013 agencies would get a lot more strategic with how they spent their marketing budgets.

What actually happened: In 2012, requests for our marketing planners tripled, and the upwards trend only continued throughout 2013. There’s serious demand in the market for a more structured approach to marketing.

6. Newspapers dying, niche publications thriving

We said: That 2013 would see the mainstream papers continue their downward spiral, while niche publications targeted at those in the industry stay strong.

What actually happened: Both those things. Fairfax and News Limited continued to struggle, with collapsing circulations and advertising revenues leading to a wave of redundancies at both companies. There are persistent rumours that Fairfax will abandon weekday editions of The Age and the Sydney Morning Herald, and many of our clients are seriously considering their commitment to the large dailies. The local glossys, on the other hand, are going gangbusters.

7. More CRM Chaos

We said: That CRM would remain the strategic imperative that never quite worked.

What actually happened: Just that. CRM continues to be a bugbear for all of our clients. It seems that every week there is a new disaster story in this space. Why can’t CRM companies get it right?

8. Dot com wars

We said: That 2013 would see RealEstate.com.au take the fight to ReviewProperty.com.au, and win.

What actually happened: RP continued to struggle to gain traction with consumers. The real competition is between REA and Domain – and with Domain planning to relaunch their website in 2014, things could get interesting.

All in all, we think we’ve done pretty well! Join us next week when we make our predictions for 2014.

How about you? Did real estate in 2013 pan out the way you expected?

 

Tags: