Estate agents are always looking for ways to stand out and attract more buyers. One strategy that’s gaining traction is Vendor Paid Advertising (VPA). This approach shifts the cost of marketing from the agent to the vendor, allowing for more professional and effective campaigns. But is it really working?

A Case Study in Vendor Acceptance

Recently, one of our customers put 117 properties on the market and offered their vendors the option to pay for enhanced marketing services. Surprisingly, a significant number of vendors were not only willing to pay but also eager to invest in premium packages.

• 33% (39 vendors) opted for a basic package, including high-quality photography.
• 24% (16 vendors) chose the premium package, which included both photography and videography.

These results clearly demonstrate that vendors are increasingly recognising the value of investing in top-tier marketing to achieve faster and more profitable sales.

The Benefits of VPA for Agents

• Increased Revenue: By offering paid marketing packages, agents can generate additional income. Our client saw a significant boost in revenue simply by allowing vendors to pay for premium services.
• Higher Quality Marketing: VPA empowers agents to offer enhanced marketing services, such as professional photography and videography. This improves the overall quality of listings and can lead to quicker sales at higher prices.

The Shift in Vendor Mindset

Historically, agents have absorbed the cost of marketing as part of their commission fees. However, with the rise of online platforms and increased competition, vendors are becoming more discerning about the services they expect. They are now willing to pay for premium marketing that can help their property stand out from the crowd.

Conclusion

Vendor Paid Advertising is a powerful tool that can help agents increase revenue and improve the quality of their services. As this case study shows, vendors are increasingly willing to invest in premium marketing to achieve faster and more profitable sales. If you’re an agent looking to stay ahead of the curve, consider implementing VPA in your business.

The Agent Payment Platform simplifies the process of offering, managing, and processing payments for marketing packages. Vendors can easily select and pay for the services they want, without any hassle, allowing agents to focus on delivering top-tier marketing solutions.

If you’re ready to increase your revenue and improve your service, get in touch with Mike at Agent Response today