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How to create FOMO amongst buyers.

You’ve signed up the listing.

The styling, photography/videography, copywriting is all done, and the listing is live across all the portals you use.

You’re pretty sure you’ve ticked off all the items you need to do, other than host open home, right?

At this stage in the campaign, I would ask… how are you creating FOMO amongst your buyers?

If you’re not sure what I mean by this, read on.

FOMO. The fear of missing out.

One of the most powerful tools of a property marketing campaign.

How do you go about creating it amongst your buyers?

Before the property goes live, let your VIP’s in on the ‘secret’ first.

Host a VIP open before the first ‘official’ open. Invite the neighbours, buyers that you are working with that have inspected similar properties and any of your pipeline sellers (they will be buyers at some stage too!)

Tell your social media followers ahead of time too – sharing a ‘sneak peek/coming soon post can create hype around a property before it’s even live. Even invite your social media followers to the VIP open. I’ve sold many a property early in the campaign and for an excellent price with this process.

Those attending the VIP are generally qualified buyers, they know that other people attending a VIP open are ready to GO creating early competition between qualified buyers. Those buyers who understand the market and are prepared to pay the right price or sometimes even pay above for market value.

Do this VIP open before the sale sign is up. If you have a lot of prospective buyers on your database and know that it will be a popular property, do it even before the marketing commences. It’s a great way of showing your sellers that you have their interests at heart, potentially selling the property for low or no advertising fees. It also is a way of providing quality service and nurturing your buyers, helping them get a head start in the market.

Once the listing is live your job isn’t done.

You can create an emotional connection with the property for your buyers. Go over and above and provide them with information that can’t be found online or in public.

Tell the story of the property from the current owners’ lens.

Have the owner write a letter to be shown at the open about why they love the property. Have them talk about why they renovated in a certain way, why they bought it in the first place, how their kids loved playing in the streets with other kids, cricket/cartwheels in the backyard, where they like to sit and have coffee/read the paper and why they are selling.

Create an emotional connection.

Place the letter from the owner alongside your property marketing collateral.

Make sure that you also have on display and EOI form!

If buyers see other parties take this with them, it creates urgency. It shows to them that are other parties interested and encourages them to take action.

Lastly the auction. The ultimate FOMO situation.

Make sure that you encourage your bidders to turn up on the day vs bidding over the phone.

When a bidder can publicly see other buyers that are prepared and ready to purchase FOMO is at its peak.

So, what are YOU going to implement through your next sale that will create FOMO amongst buyers?

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