30 Aug Social Media Case Study: Successful Online Auction
We know that social media is important when it comes to selling houses. A large and engaged social media following expands the reach of a property listing exponentially, putting it in front of buyers who would never normally have seen it.
Our latest successful online auction verifies the positive effect social media can have on marketing real estate. Let’s look at some of the details of the auction and how the social media following of The Henry Wong Team® helped contribute to its successful sale.
The Property: 1 Elkana Place, Wishart
A double storey, five-bedroom family home on a quiet cul-de-sac in Wishart, 1 Elkana is a modern, stylish and secure property. Conveniently located on a corner block in the heart of Wishart, it’s in the sought-after Mansfield State High and Wishart State School catchment zones.
It’s a stunning home with a lot going for it. We knew we had to effectively market it in a way that it got seen by as many eyes as possible. Our social media reach was essential in achieving this.
The Real Estate Marketing Strategy
We had 20 days to effectively market and get this property sold for a good price at our online auction. Our strategy included:
– We notified our massive database of buyers. We’ve grown this over the years and have sold many properties through it before they even hit the market.
– We enlisted a professional videographer, photographer and copywriter to provide us with exceptional marketing material. The Henry Wong Team® place a strong focus on quality when it comes to our visual and written marketing.
– All our marketing is bilingual and distributed through both English and Chinese channels. We even have a manually-translated Chinese version of our website.
– Last but not least, we heavily lent on our social media to get the word of this property out. With over 6,000 Facebook followers, over 5,000 Instagram followers and over 1,000 followers on Linkedin, this reach was pivotal to the success of the campaign.
The Social Media Effect
Gone are the days where people only rely on the main online property portals to sell a home. Social media is now an essential element. Agents must have a very strong following and high engagement to reach more people. Social media platforms allow posts to reach more people if the posting account adds value to those viewing the posts and sharing them.
This is effective because it means even buyers who aren’t looking in your area can come to learn of your listing. Say you’re selling a home in Wishart. If a buyer is looking in Stretton, they won’t find your property through the main real estate portals because Stretton isn’t a neighbouring suburb to Wishart. So it just won’t be promoted to them.
But with social media, if your real estate agent has a large following it’s likely to include people connected to social media users all over Brisbane. That means the buyer in Stretton will be exposed to your listing in Wishart, even if they weren’t actively searching in that suburb.
Social media puts your listing in front of many people who normally wouldn’t see it. This reach allows real estate agents with a large following to effectively engage out-of-area buyers.
The Success Story of 1 Elkana
As the old cliché goes, ‘the proof is in the pudding.’ After our 20 day campaign, 53 groups of people had inspected this lovely home. We also had multiple enquiries, most tellingly 72 of which came directly through Facebook.
It all amounted to the home being sold under the hammer at our online auction to a very happy buyer. Most important to us is the fact that both the buyer and the seller were very satisfied with the outcome.
We want to say thank you to everyone at The Henry Wong Team®, as well as those at Harcourts Queensland, Harcourts Beyond, Christian Hamilton and to everyone who has shown an interest in the property. And of course a massive congratulations to our buyer and our sellers.
If you’ve been following us online, you’ll know this maintains our 100% online auction clearance rate. Eight of our eight houses in the Mansfield State High Catchment have sold under the hammer, including these fine properties:
SOLD – 5 St George Ct, Wishart
SOLD – 2 Chelva St, Wishart
SOLD – 2 Agaton St, Wishart
SOLD – 41 Stackpole St, Wishart
SOLD – 20 Effra St, Wishart
SOLD – 34 Winthrop St, Wishart
SOLD – 53 Garie St, Wishart
SOLD – 1 Elkana Pl, Wishart
Would you like a similar result for your property? The Henry Wong Team® has successfully navigated how to market and sell homes in a market that has proved tricky for other real estate agents in Brisbane and beyond. Get in touch if you’d like an appraisal or if you have any questions.