Facebook helped sell this property: Can it work for you?
Is social media the next marketing channel for properties?
Last week, Property Observer reported that an apartment was sold by Raine & Horne Terrigal/Avoca after a buyer saw the property on the agency's Facebook page.
After making contact via Facebook, the buyer then met with the agents and negotiated a purchase. The agency continues to garner interests via the page.
Selling agent Cameron Clayton said e-mail was now considered "old fashioned", with buyers preferring "faster, more contemporary platforms such as Facebook".
It seems many agencies agree, using Facebook and Twitter to market their sales listings.
Melbourne agency Marshall White frequently posts its listings on Facebook, averaging a post every week day. The company has 8,746 "likes" on its page, with plenty of interaction between the agency, property fans and potential buyers taking place.
A listing may attract as many as 60 odd likes – increasing the chance it will appear on the news feeds of buyers who don't subscribe to Marshall White's updates or spend their time scouring listing websites.
Marshall White also frequently creates unique websites for the properties it is marketing – for example, 373 Howe Parade, Port Melbourne's listing is at the relatively easy-to-remember www.373howeparade-portmelbourne.com.
The company and many others are also active on photo sharing platform Instagram, Pinterest and Twitter. Using the social media platforms allows agencies to increase the number of people exposed to each listing, casting a wider net for buyers than a traditional online listing might do.
The interactive nature of social media also allows agents (or their social media managers) to quickly respond to queries from their followers. However, some take an even more proactive approach, creating unique Twitter handles for properties.
Property Observer's editor at large Jonathan Chancellor once found himself followed on Twitter by a humble weatherboard home, @17BanksiaStreet.
While social media marketing can be a cost effective way of extending the reach of your marketing campaign, its true value is still questionable. Certainly not every Australian has a Twitter account. Twitter says there are 2.8 million Australian accounts, but the figure doesn't shed any light on how many unique users there are, with some holding multiple accounts (and many accounts unused).
It is harder still to determine whether those viewing the listings posted on social media have any intention of buying a house. When advertising on a listing website, agents have a relatively good idea of who is viewing the listings – generally, people who have searched for properties in that particular area, in that particular price bracket.
While Sean Hutchison's interest in Marshall White's Middle Park listing may be genuine, there will be many others on social media who are interior enthusiasts, buyers in different price brackets or simply uninterested.