Social Media Buzz & Real Estate
Because social media sites such as blogs, Facebook, LinkedIn and Twitter, are highly ranked among search engines, they have become powerful key players in delivering information instantly to the masses. With many businesses hiring ‘Social Media Editors’, including the National Association of Realtors, it’s clear, social media is not just for teenagers anymore.
When we take a look at the current buyer, a majority of which are first time buyers, they start their search on the internet. They know the market changes and have a general idea if it’s a sellers or buyers market. What they don’t necessarily know is the actual net sold price of the comparables. They want to do some research on their own to find out information on property values and sales in their neighborhood of interest. Do they go to Facebook to find a house? Not exactly, BUT for sources of information they do talk to their family, friends, neighbors and co-workers, for opinions they value and they get in touch with the people they know and respect on social media sites.
Just as in the famous saying ‘location, location, location’ soon to follow is ‘exposure, exposure, exposure’ thanks to social media. With the potential to message thousands of people in exchange for just thirty seconds of time and many users receiving updates through their cell phones, there’s not a faster way for information to travel simultaneously to so many people. With over 1million users, Facebook will expose the websites on which your home is listed for sale. Chances are that anyone who is looking and interested will click on the link. The more friends that are exposed in the Twitter network, the more people know that your home is for sale and the more people that know, the better. Melinda Sigal of The Sales and Marketing Connection comments, “And remember … these tools are ice-breakers and foster face-to-face interaction. People love talking about what they know and what they read online. Maybe a tweet about your home listed for sale could lead to a sale if someone in the network mentions it to the right person.”
Can social media alone sell real estate? I’ve heard of some investors that posted a property for sale via Facebook and within 48hours they had 12 requests to see the property which resulted in 6 showings and 2 offers. Not bad…but not so fast. A sale from social media alone is possible, but today only a small portion turn into sales. According to Knowledge Networks and the National Association of Realtors, 83 percent of the online population between ages 13-54 use social media, but less than 5 percent turn to these sites for suggestions about purchasing decisions. The report can be found here:http://www.knowledgenetworks.com/news/releases/2009/052009_social-media.html]
Social media is ONE of the avenues, a vehicle and a powerful one at that, for tapping into a potential buyer’s interest. For now, social media serves as instant exposure to direct potential buyers into the hands of your Realtor, but don’t let social media out of mind or out of sight. As the social media generation ages, a new home-buyer will be born and social media sites may be the new hot spot for finding a home.
When we take a look at the current buyer, a majority of which are first time buyers, they start their search on the internet. They know the market changes and have a general idea if it’s a sellers or buyers market. What they don’t necessarily know is the actual net sold price of the comparables. They want to do some research on their own to find out information on property values and sales in their neighborhood of interest. Do they go to Facebook to find a house? Not exactly, BUT for sources of information they do talk to their family, friends, neighbors and co-workers, for opinions they value and they get in touch with the people they know and respect on social media sites.
Just as in the famous saying ‘location, location, location’ soon to follow is ‘exposure, exposure, exposure’ thanks to social media. With the potential to message thousands of people in exchange for just thirty seconds of time and many users receiving updates through their cell phones, there’s not a faster way for information to travel simultaneously to so many people. With over 1million users, Facebook will expose the websites on which your home is listed for sale. Chances are that anyone who is looking and interested will click on the link. The more friends that are exposed in the Twitter network, the more people know that your home is for sale and the more people that know, the better. Melinda Sigal of The Sales and Marketing Connection comments, “And remember … these tools are ice-breakers and foster face-to-face interaction. People love talking about what they know and what they read online. Maybe a tweet about your home listed for sale could lead to a sale if someone in the network mentions it to the right person.”
Can social media alone sell real estate? I’ve heard of some investors that posted a property for sale via Facebook and within 48hours they had 12 requests to see the property which resulted in 6 showings and 2 offers. Not bad…but not so fast. A sale from social media alone is possible, but today only a small portion turn into sales. According to Knowledge Networks and the National Association of Realtors, 83 percent of the online population between ages 13-54 use social media, but less than 5 percent turn to these sites for suggestions about purchasing decisions. The report can be found here:http://www.knowledgenetworks.com/news/releases/2009/052009_social-media.html]
Social media is ONE of the avenues, a vehicle and a powerful one at that, for tapping into a potential buyer’s interest. For now, social media serves as instant exposure to direct potential buyers into the hands of your Realtor, but don’t let social media out of mind or out of sight. As the social media generation ages, a new home-buyer will be born and social media sites may be the new hot spot for finding a home.
Quick Quote
Recommended