Raine&Horne Rockingham Beach principal Paul Curran told Real Estate Business that the idea formed after his franchise revealed a major promotional giveaway.
“At the moment, Raine&Horne is doing a $50,000 giveaway to someone who lists their property with a Raine&Horne agent,” he said.
“But no matter what we do, there’s only going to be one person who wins $50,000, so what we thought was we’d give one of our clients a chance to win something else.
“You need to list your house to win $50,000, you only need an appraisal to win the television.”
Mr Curran said that he approached the local Retravision with the idea.
“We told them what we were planning to do, and they said if we stick their name in the adverts that they’d give us the television free of charge,” he said.
But while appraisal numbers have increased, Mr Curran admitted that converting them to listings had taken a slight dip.
“There’s a higher percentage of people who just want an appraisal to enter, but it’s not ridiculous numbers," he said. "I believe that unless you actually want to find out what your property is worth, or if you’re thinking of selling, no one wants a real estate agent in their house.
“Believe it or not, not everyone who gets an appraisal puts their name in the draw. We’ve had to chase a few people up to tell them about it,” he said.
In addition to increasing appraisals and beefing up the database, the promotion gave Raine&Horne Rockingham Beach an opportunity to assess their advertising reach.