Updated: Sep 10, 2018
The general rule of thumb is about 1% of your property's value should be spent on marketing so that you can achieve the best possible price for that property. That would mean if your property is worth $500,000 you should budget around $5,000 for marketing your property. With the increased popularity of digital packages it is possible to come up with a good campaign for less than 1% but don't be tempted to skimp on marketing your property.
Marketing is an investment by you the owner to ensure that your property is fully exposed to the market place, and ensures that you generate enough interest in the property to get the best possible result available at that time.