Raine & Horne celebrates six years since launching industry-first Artificial Intelligence (AI) in property advertising
Raine & Horne has marked over half a decade of success with their industry-first marketing technology, 'Amplify'. This revolutionary tool uses Artificial Intelligence (AI) to match properties with potential buyers in a targeted, effective manner, which continues to demonstrate exemplary results.
Amplify harnesses the power of AI to interpret data from Google, Facebook, and Instagram, connecting properties with potential audiences based on their location, interests, and online behaviour. The technology automatically creates more than 100 distinct versions of a property's digital ad, tailoring messages and images to specific audience demographics.
"Amplify takes the guesswork out of property marketing," said Angus Raine, Executive Chairman, Raine & Horne. "By using AI, we can match properties with the right potential buyers by displaying geo-targeted advertisements while they’re searching online or scrolling on social media.”
The industry-first, proprietary technology was developed by Scandinavian company CCT, led by CEO/co-founder Christian Overaa. Mr Overaa’s vision was to create a platform which would be capable of reaching the right target audience at the right time, delivering a unique message that is tailored to maximise customer engagement.
Six years ago, Raine & Horne partnered with CCT to pioneer this technology in Australia, branding the platform as Raine & Horne Amplify. In doing so, the company became the first major real estate franchise group in Australia as early as 2017 to start harnessing the power of AI in property marketing.
Mr Overaa says, “Raine & Horne made the strategic decision more than six years ago to bring this technology to Australia at a time when not many people were talking about Artificial Intelligence. This move has since empowered Raine & Horne agents to take their social media advertising to new heights and achieve remarkable results for their clients.”
To understand the impacts of this technology, a comprehensive analysis was recently conducted on over 6,900 residential property sales by Raine & Horne offices from January to December 2022*. The analysis revealed properties that were sold using Raine & Horne Amplify exhibited an average increase in sale price of +$36,890 compared to those without.
Additionally, properties marketed with Amplify were sold nine days faster and boasted a sale success rate of 73.5%, surpassing the 63.5% rate for properties sold without this technology. These findings highlight the undeniable impact and effectiveness of Raine & Horne Amplify in the real estate market.
Since its implementation, Raine & Horne agents have launched an astonishing 38,000+ advertising campaigns shared across Facebook, Instagram, LinkedIn and the Google Ad network via Amplify. This has allowed the company to continue honing this innovative technology, developing key learnings and buyer behaviour data to further refine the targeting and reach of Amplify.
"The success of Amplify speaks for itself," said Mr Raine. "We have seen firsthand how this technology has transformed the way we market properties, and we are excited to continue pushing the boundaries in the real estate industry."
Raine & Horne remains committed to investing in advanced technology, ensuring their agents have the cutting-edge tools needed to excel in today's digital age. With plans for further developments and enhancements to Amplify currently underway, Raine & Horne's dedication to staying ahead of the curve will continue to set their agents apart in the industry.
"As a 140-year-old business, we are proud to remain at the forefront of innovation in the property industry, and this is an example of just one of our many industry tech-firsts.
“Some of our competitors are only just now adopting AI, and our success with Amplify serves as a testament to our history of embracing innovation for the benefit of our offices and their clients."
Since the company’s establishment in 1883, the group has grown into a network of hundreds of offices internationally. Known for their innovative and forward-thinking approach, Raine & Horne is committed to providing a professional and personalised real estate service that exceeds the expectations of clients.