Login
iscover
Following the success of its digital marketing platform and a “rebound in market confidence”, Raine & Horne Marrickville has demonstrated positive results at its latest in-room property auction.
The business attracted a combined 740 enquiries and 543 inspections, while the auction enticed 57 registered bidders for the six properties at the City Fringe Auction Rooms at Rydges, Camperdown.
This resulted in the six properties, which included a mix of freestanding properties and semi-detached homes, being sold for a total of almost $7.23 million.
Raine & Horne Marrickville principal Michael Smith said that following the election, there is a rebound in market confidence, and the series of interest rate cuts has attracted buyers back to the Inner West real estate market, with properties priced between $1 million and $1.5 million.
“In our in-room auction in May, before the election, when we faced the prospect of the end to negative gearing, we had only 50 people in total in the auction room and only a handful of registered bidders,” Mr Smith said.
“On [auction day] it was standing room only, with many onlookers stuck outside in the foyer unable to cram into the heaving auction room.”
Raine & Horne Marrickville marketing manager Tim Bussink attributed part of the success to the business’s digital marketing platform, Amplify.
He said it played a “massive role” in attracting enquiries, inspections and registered bidders.
Amplify uses digital programming, predictive analytics and artificial intelligence to place multiple property ads across Facebook, Instagram and Google. It targets audiences based on their online profile and behaviour, placing properties in front of both active and passive consumers.
“The views of these properties on our website generated by Amplify were more than the property of major portals combined. Since launching into Amplify 18 months ago, we are finding that the property portals still have a role to play in putting our properties in front of active buyers,” Mr Bussink said.
“Amplify is doing this and more by showcasing our properties to larger numbers of passive buyers or those buyers who have never considered Marrickville of surrounding suburbs before.
“We always pride ourselves on doing our auctions differently, which attracts more registered bidders, more interested onlookers and, in general, more energy and better results for our vendors than those being achieved in the general marketplace.”
You are not authorised to post comments.
Comments will undergo moderation before they get published.