Background:
In2assets, a prominent South African property auction company, embarked on an ambitious endeavor by taking 65 diverse commercial properties to their livestreamed auction platform on the 22nd of August 2023. The objective was to showcase the efficacy and reach of their innovative auction methodology while aiming to achieve an impressive sales outcome within a single 6-hour auction session. The properties were scattered across different regions of South Africa, making this feat even more interesting.

Challenge:
The conventional method of selling commercial properties through individual brokers can be time-consuming and often lacks a broad reach. Selling 54 properties out of 65 within a short 6-hour auction window, through public bidding on a livestreamed platform, was a remarkable challenge. The complexity lay in ensuring a seamless process, attracting potential buyers from various locations, and maintaining the momentum throughout the auction session.

Solution:
In2assets leveraged their state-of-the-art livestreamed auction platform, combining advanced technology with a strategic marketing campaign to create an optimal environment for successful property sales. Key elements of their approach included: -
Comprehensive Property Showcase: In2assets created detailed property profiles, including high-quality visuals, property descriptions, and relevant data, for each of the 65 properties. These profiles were showcased on their auction platform, enabling potential buyers to thoroughly assess the properties before the auction.
Multi-Channel Marketing: In2assets employed a multi-channel marketing strategy to promote the auction event. This included targeted digital advertisements, email campaigns, social media promotion, and collaborations with industry influencers. The aim was to generate interest from a wide range of potential buyers across South Africa.
Professional Livestreaming: The auction event itself was livestreamed on In2assets' dedicated platform. This provided an engaging and transparent experience for buyers, allowing them to participate remotely while observing the bidding process in real-time.
Competitive Bidding Environment: The livestreamed auction platform's interface facilitated competitive bidding by displaying real-time bid updates and enabling immediate responses from interested buyers. This sense of urgency and competition contributed to the rapid sales pace.
Experienced Auctioneers: In2assets' team of skilled auctioneers led the proceedings, maintaining a dynamic atmosphere throughout the event and encouraging active participation from bidders.

Results:
The innovative approach undertaken by In2assets yielded exceptional results that surpassed industry norms ending in sales results of the day in excess of R 407 Million.
54 Properties Sold: 
An impressive 54 properties were confirmed as sold at the fall of the hammer, within the short span of the 6-hour auction session. The auction had 580 online spectators who viewed the auction and over 180 registered bidders participated in the auction event.

Conclusion:
In2assets' livestreamed auction of 54 commercial properties sold at the fall of the hammer within a 6-hour session stands as a testament to the company's innovative approach to property sales. By harnessing advanced technology, strategic marketing, and experienced auctioneers and marketing team, In2assets showcased that a well-executed auction event can not only expedite property sales but also achieve exceptional results that defy conventional expectations. This case study serves as an inspiration for the real estate industry to embrace modern methodologies that enhance efficiency and broaden reach.
For more background information email Rainer Stenzhorn info@in2assets.com