The insatiable appetite for property is being sated in Australia as online property marketplace Domain introduces auctions and inspections broadcast live to audiences around the world using Facebook Live.
Facebook Live only launched in December and has already been used by big global companies like Airbnb, Heineken and Land Rover to engage with audiences.
Domain has live streamed property auctions via Facebook to nearly half a million people.
Leveraging the new Facebook Live feature, which is a fun, powerful way for brands to connect with their followers, Domain first experimented in early May with an auction on Moray Street, in the Victorian suburb of South Melbourne.
The auction drew a physical crowd of around 100 people, but with Domain’s Live Auction stream the bidding activity reached almost 300,000 Facebook users.
Due to the unprecedented levels of engagement and popular feedback, Domain delivered its audiences a second auction this week in Collingwood, which was viewed almost 24,000 times, attracting more than 3,300 comments.
Domain claims to be the first property marketplace to broadcast auctions via Facebook Live, although not far away, Sydney real estate agency Raine & Horne recently called its live broadcast of an auction on Facebook using the periscope video app an "industry first".
In the United States, Ten-X held its first online auction in April.
Domain Chief Editorial and Marketing Officer Melina Cruickshank says the demand for Domain’s unique property journalism via social media is accelerating.
"Audiences are engaging with our breaking news, data analysis, market insights and financial commentary like never before," she says.
“Many of us admit we’ve stopped by an auction at some point to see what happens.
"Domain’s Live Auctions give everyone a front row glimpse into what’s happening in the property world. It taps into the natural inquisitiveness Australians have with property."
Cruickshank says live auctions offer another way for Domain to engage with audiences in authentic ways.
"By leveraging Facebook Live and combining digital, social and editorial, it’s resulted in staggering engagement. This shows just how much of an appetite there is for interactive journalism, not just in Australia but around the world."
The auctions can be viewed live via Domain’s Facebook page.
The announcement follows a string of new initiatives made by Domain in recent weeks, including the launch of the first property Messenger bot that allows consumers to instantly find properties by asking for the information they need, on Facebook Messenger.