Check out how, after failing to sell past a full 12 months, one vendor threw money at the problem — a massive $120 — and got the job done a mere 28 days later.
A private vendor has spent just $120 on social media marketing to sell a unique 14-acre equestrian property in remote Goombungee, in the Toowoomba region in Queensland, in only 28 days.
Principal of Raine & Horne Toowoomba Andrew Lynch said that the group’s “powerful and innovative” online marketing technology, Amplify, was behind the eventual sale.
“Amplify combines AI with social channels to give property listings and managements seven times more exposure to buyers and tenants.”
Listing agent Geoff Martin estimates that when he secured the listing, the vendors would already have spent “many several thousand dollars” on marketing.
And the agent said that they made it clear they didn’t want to spend any more.
“Consequently, we used images from the previous campaign, and we Amplified the property for $120, which was the only advertising we executed to promote the property,” Mr Martin said.
“We had five groups through the property and sold it for $575,000 in just four weeks.”
Mr Martin said that the campaign generated “lively” interest, reaching 5,608 active and passive buyers.
“A rural property such as this has a tiny market usually and generally wouldn’t command this level of online reach,” the agent said.
“Interestingly, most of our enquiries were generated through Facebook rather than some of the other social platforms.”
He said that the property achieved a click-through rate of 17 per cent, against the industry average of 1 per cent.
Mr Martin said that he targeted Amplify’s geo mapping functionality to maximise the reach of the property, located 50 kilometres from Toowoomba.
“We applied a 50 kilometre radius using geo mapping which extended the reach of the property to buyers in Toowoomba, Highfields and Oakey, and all the rural areas between.”