Million-dollar agent leverages social media for $100m sale

Million-dollar agent leverages social media for $100m sale

29 June 2016 by Francesca Krakue 2 comments

New York celebrity agent Fredrik Eklund has demonstrated the far-reaching potential of social media in real estate, selling a property for $100m with a single Instagram post.

Speaking to a crowd of agents at the Australian Real Estate Conference on the Gold Coast last month, the star of Million Dollar Listing emphasised it is possible to sell real estate through social media – if it is used in the right way.

“There was one building we launched with one Instagram post in October 2014,” he told the conference.

“I sold $100 million off one post. We had no press, no teaser, nothing else about this one building.”

Mr Eklund said the key to using social media in a real estate business effectively is to connect with the audience on a personal level.

“I post photos of apartments but to make it successful, to sell them and also to get more followers, you have to tell your followers what it means to you personally,” he said.

“If you set a record, it’s not the record itself that anybody cares about, it’s why it was life-changing to you," he added.

Ultimately, selling is about two parties meeting and trusting each other, Mr Eklund said, noting that agents can build this trust with clients by being authentic – including by personalising social media.

“People want to do business with someone they like,” he said.

He also provided some tips for engaging with customers through social media portals, including by incorporating open-ended questions into posts online.

“If you want to go on a holiday, and you may want to brag a bit, ask a question in one or two words to engage the follower and make it more interesting,” Mr Eklund said.

He also recommended acknowledging comments on Facebook posts by ‘Liking’ them.

“Engagement in articles is coming down; we just scroll. So when somebody actually goes on your Facebook and writes something, that’s a very beautiful thing,” he said.

[Related: Increasing brand exposure: part 2]


promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
REVEALED: The 10 best agents in Australia for 2017

For the first time ever, the top 10 agents in the REB Top 100 Agents ranking are revealed in this exclusive podcast. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
Do you have an industry update?