Case Studies

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How one real estate agent sold a $3.5 million property off a $5/day Facebook ad

Alex Phillis Luxury Real Estate AU

The Client

Alex Phillis Luxury Real Estate is premium real estate agent based out of the northern end Gold Coast in Queensland. These guys specialised in high-end transactions involving multi-million dollar waterfront properties.

The Problem

Real Estate is a competitive game, and this high-end area of the Gold Coast was definitely no exception. Traditionally, real estate agents rely heavily on weekend newspapers and key positioning within websites such as Domain.com.au and Realestate.com.au. There was little way of knowing if these forms of advertising were getting in front of the right people for the high-end properties they were listing, lead generation was traditionally slower then for lower price bracket property.

They needed a way of getting high quality leads for both buyers and new property listings.

The Goal

Alex Phillis engaged with BidPixel to create Facebook campaigns that would achieve 2 things. The first was to get solid buyer leads for the properties they had listed. The second was to increase his brand profile in the local area and gain quality leads for new property listings.

The Plan

To get quality buyer leads, we set out to reach a broad audience of potential buyers and then use the data of their engagement levels to narrow the audience down further until their ads were sitting in front of serious players. A classic top to bottom funnel approach mixed with some strategic digital targeting. On top of that, in line with their second objective, we connected them with property owners within their selling area to ensure they knew that Alex Phillis was the first stop on your property selling journey.

The Results

We were able to drive more property listing enquiries from the local area which were compounded by the success and unique approach of his other listings.

For the last three months, some of the top level wins for Alex have been:

  • Selling a $3.7 million waterfront property off just a $5/day Facebook ad.
  • Spending $1,400 to get in front of 90,000 highly interested buyers of just one property
  • Over the last month alone, we’ve helped Alex sell $15 million in property of just over $800 in Facebook advertising
  • Highly segment potential buyers and sellers with Facebook’s 273,000 touch points to build a demographic
  • Use current user interests to determine if a person is looking to sell or in a buying consideration process.
  • Garner 5 x more leads through Facebook and Instagram advertising then two of the top online real estate listing websites combined.

Working with Alex is an ongoing process of optimisation and testing. Currently, we are garnering 10+ closing vendor leads per week with a mixture of Facebook and Instagram ads as well as dynamically changing landing pages.

The Testimonial

“I made a decision very early in the stages of building our brand that I didn’t want to do high-end real estate sales within traditional boundaries.

I needed to partner with an agency that understood exactly where I wanted to be and where I wanted to go.

The thing is with real estate, we need a funnel working really well and we need new listings coming in and maximum new enquiries on any advertising.

It’s not rocket science, but real estate sales really are a funnel. New leads in the top (whether they are buyers or sellers), a progression through qualification and then property sales out the bottom.

Working with the team at Bid Pixel we are able to be reactive on each property campaign, focusing detailed targeting for each property around a granular buyer persona.

With most of our listings being over the two-million-dollar price range in a luxury and highly sought-after area of the Gold Coast, we need to make sure that the implementation of our advertising is polished.

Video is at the top of our funnel with our buyer persona’s being segmented into audiences based on how much of a property video they watch. Bid Pixel define anyone that’s watched 75% or more of a given video as interested enough to garner more information. This strategy sees us segmenting down our initial audience with not only a high accuracy but also an extremely low cost per acquisition. In most instances, we are serving video views to highly-targeted potential buyers for under $0.06 per view.

Liam from Bid Pixel likens this to a dating analogy. “You don’t swipe right on tinder and ask a person to marry you. Instead, you court a date and woo them leading up to an exchange of information and eventually a date” (or property inspection). Only once this courtship is mutual, do we then target our audiences to ask for their hand in a property purchase so to speak.

The second stage after the initial video view campaigns is when we begin to serve ads asking for information. Our lead generation is quite simple – follow up the video campaign with an ad containing multiple images or videos of the property and a link through to either a lead generation form contained in Facebook or a bespoke landing page that contains the same call to action and imagery as the ad for continuity.

We are prestige real estate agents! We are good at selling houses! We don’t want to know the ins and outs of a Facebook marketing campaign, we just want to know that our marketing dollar is going as far and as targeted, as possible. Bid Pixel gives us that confidence.

We have spent $5000 on a one-day print media and in the local newspaper and receive zero inquiries and then when we spend $1400 on a month-long campaign within Facebook, reaching 35,500 highly-targeted individuals, we know where we want to put our money because the data informs us of the successes.”

– Alex Phillis

The Wrap Up

Real Estate is a tough game and agents are always looking for ways to get ahead and stay ahead of their competitors.

Alex Phillis Luxury Real Estate is the perfect example of embracing a new approach and seeing the success. There is no slowing down for these guys and it is a huge privilege for us here at BidPixel to be a part of it.

Does this sound like something your real estate agency needs?

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Are you a Real Estate Agent wanting to take a new approach? Want to get ahead of the game and see results for you and your clients? Contact us now to chat about how we can help you make that happen.

If you want to have a chat with one of our real estate advertising team about how you can use Facebook’s advertising network to make sales like Alex Phillis, contact us.