The power of social media in Real Estate
Being social is the name of the game when it comes to being a real estate broker or agent. But realtors need to make sure they are using all the social tools they can to stay on top. And I mean social media tools that you can get working for you. It’s all about engagement.
According to the US National Association of Realtors’ 2013/2014 Realtor Technology Survey: 91 percent of Realtors use social media for their business. But the question is, are they using it to its fullest potential? And are they engaging in social conversation or just telling their story to the world.
There is tremendous opportunity for real estate brokerages and agents who use social media correctly. “A good framework for agents is to think of social media as steroids for word-of-mouth reputation building,” says Guy Kawasaki media expert and author.
One of the most important rules when using these tools is the 80/20 rule. What is the 80/20 rule you ask? It’s what stops realtors from having a one-sided conversation, talking only about themselves and the properties they are selling.
It means that only 20% of their posts should be about the realtor and their listings. The other 80% should be to share interesting – and relevant — content from others. Here is where the big opportunity lies.
Most brokers and agents realize they should be posting their listings on social media platforms like Facebook, Twitter, LinkedIn and Pinterest. But it’s that 80% where realtors can build engagement with past, current and potential clients.
In that 80% realtors can truly shine and engage, in a number of ways.
- They can showcase their knowledge and areas of expertise, like in specific types of properties i.e. condos, income properties or single-family dwellings.
- They can support and inform clients (current and previous) about neighborhoods that they understand well and they feel would appeal to their clients.
Here are a few ways that realtors can use the various social tools, in addition to just posting listings:
- Promote properties by way of imagery and video.
- Share points of view through a personal blog.
- Engage with those that comment to help build a relationship with followers.
- Share interesting and relevant articles and content
- Retweet of other’s real estate related content
- Engaging with local businesses in a realtors core selling area will help provide clients with a better understanding of the neighbourhood they are moving to, or live in.
- Join real estate groups and contribute and engage with peers.
- Ensure that LinkedIn profile fully optimized and up to date.
- Expand audience reach by sharing pictures of available properties.
- Build aspirational boards that showcase your creative thoughts and ideas when it comes to properties, both inside and out.
- Become someone that others relate to because of your taste and interests.
- Provide clients with a better perspective of the properties through a guided video walk through.
- Expand audience reach through another, massively popular social media platform
- Video is a potential tool for a video blog.
- To build brand, create unique and engaging content beyond just posting listings.
These suggestions are just the tip of the iceberg when it comes to the use of social media for real estate.
Realtors may think that they don’t have the time to do any more than post their listings. But there are many time-saving tools out there that can help realtors efficiently share fresh content daily, with an investment of just a few hours per week.
However, it is important to remember even with these tools, that one should only take on as much as they can handle. There is no need to be everywhere on social media. Pick the right platforms, be it Facebook and Twitter, and do those well and keep them fresh, interesting and up to date .
By using these digital tools brokers and agents can be more than just someone who sells houses, they can be helpful and valuable.