{"id":1364,"date":"2019-07-26T01:14:36","date_gmt":"2019-07-25T15:14:36","guid":{"rendered":"https:\/\/theonsitemanager.com.au\/news\/?p=1364"},"modified":"2019-08-07T18:45:41","modified_gmt":"2019-08-07T08:45:41","slug":"feature-listing-upgrade-value-quantified-a-case-study","status":"publish","type":"post","link":"https:\/\/www.theonsitemanager.com.au\/news\/feature-listing-upgrade-value-quantified-a-case-study\/","title":{"rendered":"Feature Listing Upgrade Value Quantified &#8211; a case study."},"content":{"rendered":"\n<p>As we explained recently in <a href=\"https:\/\/theonsitemanager.com.au\/news\/upgraded-listings-do-not-cost-money-they-save-it\/\">this article<\/a>, the net benefit of upgraded listings is greater than their cost, meaning they actually save owners money rather than costing it. <\/p>\n\n\n\n<p>Well, we\u2019ve now sat down with RealEstate.com.au who have painstakingly reviewed our listing data and composited a beautiful 30 page report quantifying EXACTLY how much that net benefit equates to, and the numbers are staggering. Even I was surprised &#8211; EVERY onsite manager needs to read this article. Lets break it down!<\/p>\n\n\n\n<p><strong>What is a Feature Listing<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Feature listings appear ahead of Standard listings<\/li><li>Interactive photo carousel highlights the best features<\/li><li>Receive 1.6x more Average Views than a Standard listing. <\/li><li>Receive 1.6x more Email Enquiries than a Standard listing. <\/li><\/ul>\n\n\n\n<p>For this case study &#8211; REA took a collection of our STANDARD rental listings &#8211; chosen at random, and compared them to an identically priced and appointed feature listing in the same location posted on the same day. Here are the results &#8211; brace yourself&#8230;<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Brisbane CBD<\/strong> (Upgrade Cost: $162)<\/p>\n\n\n\n<p>First stop is Brisbane CBD, this is our capital, so what better place to start?<\/p>\n\n\n\n<p>Based on similar 2 Bedroom, 2 Bathroom properties in Brisbane City: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The Feature property received <strong>138% more <\/strong>average views per day <\/li><li>And was leased <strong>29 days faster<\/strong> <\/li><li>Based on the rent of the Feature Property of $560 per week, the Feature listing minimised the lost of rental income and saw an extra <strong>$2,320 <\/strong>put back into the landlord&#8217;s pocket.  <\/li><\/ul>\n\n\n\n<p style=\"text-align:center\" class=\"has-large-font-size\"><em>&#8220;This landlord lost $2158 in potential rent (after expenses) because they didn&#8217;t upgrade.<\/em>&#8220;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"584\" src=\"https:\/\/theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/Brisbane-1024x584.jpg\" alt=\"\" class=\"wp-image-1366\" srcset=\"https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/Brisbane-1024x584.jpg 1024w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/Brisbane-300x171.jpg 300w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/Brisbane-768x438.jpg 768w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/Brisbane-420x239.jpg 420w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/Brisbane.jpg 1302w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Wow, that&#8217;s a huge loss&#8230; Perhaps that was just a freak incident? So we ran the data again, this time in Teneriffe.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Teneriffe<\/strong>   (Upgrade Cost: $162).  <\/p>\n\n\n\n<p>Based on similar 2 Bedroom, 2 Bathroom properties in Teneriffe:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The Feature property received <strong>321%\nmore <\/strong>average views per day<\/li><li>And was leased <strong>22<\/strong><strong> days faster<\/strong><\/li><li>Based on the rent of the Feature\nProperty of $470 per week, the Feature listing minimised the lost of rental\nincome and saw an extra <strong>$1,477 <\/strong>put back into the landlord&#8217;s pocket.<\/li><\/ul>\n\n\n\n<p class=\"has-large-font-size\"><em>This owner lost over $1300 while trying to save $162.<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"584\" src=\"https:\/\/theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/teneriffe-1024x584.jpg\" alt=\"\" class=\"wp-image-1370\" srcset=\"https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/teneriffe-1024x584.jpg 1024w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/teneriffe-300x171.jpg 300w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/teneriffe-768x438.jpg 768w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/teneriffe-420x239.jpg 420w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/teneriffe.jpg 1302w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Well that\u2019s all good and well for the inner city \u2013 but what about in the outer suburbs? We ran the data again, this time in Northlakes <\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>North Lakes<\/strong>  (Upgrade Cost: $124.20)  <\/p>\n\n\n\n<p>Based on similar 3 Bedroom, 2 Bathroom properties in North Lakes:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The Feature property received <strong>177%\nmore <\/strong>average views per day<\/li><li>And was leased <strong>7<\/strong><strong> days faster<\/strong><\/li><li>Based on the rent of the Feature\nProperty of $350 per week, the Feature listing minimised the lost of rental\nincome and saw an extra <strong>$350 <\/strong>put back into the landlord&#8217;s pocket.<\/li><\/ul>\n\n\n\n<p class=\"has-large-font-size\"><em>&#8220;After the upgrade cost, the owner would have been $225 better off.&#8221;<\/em><\/p>\n\n\n\n<p>Sure, it&#8217;s not thousands like the inner city ones, but that\u2019s still a couple of weeks worth of fuel in their car, groceries for their family, that they now have to go without.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"584\" src=\"https:\/\/theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/NorthLakes-1024x584.jpg\" alt=\"\" class=\"wp-image-1369\" srcset=\"https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/NorthLakes-1024x584.jpg 1024w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/NorthLakes-300x171.jpg 300w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/NorthLakes-768x438.jpg 768w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/NorthLakes-420x239.jpg 420w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/NorthLakes.jpg 1302w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Well that\u2019s pretty definitive for Brisbane, how about the Gold Coast?<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Ashmore<\/strong> (Upgrade Cost $125.55)<\/p>\n\n\n\n<p>Based on\nsimilar 3 Bedroom, 2 Bathroom properties in Ashmore:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The Feature property received <strong>37%\nmore <\/strong>average views per day<\/li><li>And was leased <strong>33<\/strong><strong> days faster<\/strong><\/li><li>Based on the rent of the Feature\nProperty of $550 per week, the Feature listing minimised the lost of rental\nincome and saw an extra <strong>$2,592 <\/strong>put back into the landlord&#8217;s pocket.<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"584\" src=\"https:\/\/theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/ashmore-1024x584.jpg\" alt=\"\" class=\"wp-image-1365\" srcset=\"https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/ashmore-1024x584.jpg 1024w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/ashmore-300x171.jpg 300w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/ashmore-768x438.jpg 768w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/ashmore-420x239.jpg 420w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/ashmore.jpg 1302w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Wow\u2026 just wow\u2026 <\/p>\n\n\n\n<p class=\"has-large-font-size\"><em>This owner lost two and a half thousand dollars trying to save a hundred and twenty. <\/em><\/p>\n\n\n\n<p>This is utter lunacy, it probably didn\u2019t help that the manager used a blurred and crooked picture of an old cupboard door shot on a smart phone as their main marketing image either. They clearly haven&#8217;t been reading our articles about <a href=\"https:\/\/theonsitemanager.com.au\/news\/professional-managers-use-professional-photographers\/\">marketing like professionals<\/a>. <\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Newstead<\/strong> (Upgrade Cost: $162)<\/p>\n\n\n\n<p>Based on\nsimilar 2 Bedroom, 2 Bathroom properties in Newstead:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The Feature property received <strong>150%\nmore <\/strong>average views per day<\/li><li>And was leased <strong>38<\/strong><strong> days faster<\/strong><\/li><li>Based on the rent of the Feature\nProperty of $485 per week, the Feature listing minimised the lost of rental\nincome and saw an extra <strong>$2,632 <\/strong>put back into the landlord&#8217;s pocket.<\/li><\/ul>\n\n\n\n<p>This is no\nsmall number. Again, this is serious money being thrown away by owners\/managers\nto save a few pennies. It doesn\u2019t make any sense to be doing this!&nbsp; <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"584\" src=\"https:\/\/theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/Newstead-1024x584.jpg\" alt=\"\" class=\"wp-image-1368\" srcset=\"https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/Newstead-1024x584.jpg 1024w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/Newstead-300x171.jpg 300w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/Newstead-768x438.jpg 768w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/Newstead-420x239.jpg 420w, https:\/\/www.theonsitemanager.com.au\/news\/wp-content\/uploads\/2019\/07\/Newstead.jpg 1302w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>I think the data so far speaks volumes: No matter what your location, or the demand in your market, It is financially reckless NOT to upgrade owner\u2019s rental listings, particularly if they have sat for longer than a week. <\/p>\n\n\n\n<p>Join me\nback here again next week and we\u2019ll explore the outcomes of higher level\nupgrades.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As we explained recently in this article, the net benefit of upgraded listings is greater than their cost, meaning they actually save owners money rather&#8230;<\/p>\n","protected":false},"author":1094,"featured_media":1373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_mbp_gutenberg_autopost":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-landlords-tenants-renting-and-management"],"_links":{"self":[{"href":"https:\/\/www.theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/posts\/1364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/users\/1094"}],"replies":[{"embeddable":true,"href":"https:\/\/www.theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/comments?post=1364"}],"version-history":[{"count":2,"href":"https:\/\/www.theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/posts\/1364\/revisions"}],"predecessor-version":[{"id":1387,"href":"https:\/\/www.theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/posts\/1364\/revisions\/1387"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/media\/1373"}],"wp:attachment":[{"href":"https:\/\/www.theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/media?parent=1364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/categories?post=1364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.theonsitemanager.com.au\/news\/wp-json\/wp\/v2\/tags?post=1364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}