Be Social To Generate Leads
May 2, 2017
Founder and Owner, Open House Hunters
When it comes to real estate lead generation and prospecting the question becomes: “Has generating leads for new real estate business changed?”
Every residential real estate agent knows that referrals from past and current clients is the best source for business — that has and will not change. At the same time, the way the industry cultivates business and maintains a strong referral base has changed since the launch of social media and websites. Here are some examples:
- People are now generally on Facebook between 5:00am to 8:00am, very similar to when people read their newspaper in years past
- Seventy percent of people who watch T.V. will also have a smart phone in their hand and glance through their social media sites.
- Twitter, one of the first social media platforms, is gaining popularity again with a younger demographic.
- Linkedin has recently been purchased for $26.2 billion by Microsoft. This social site is becoming more popular for B2B referrals and the numbers of users is climbing.
- When looking at traffic, Pinterest is a great place for home decorating ideas for consumers. Companies such as Best Buy have taken notice to this and are advertisers to attract business.
Many agents often become overwhelmed when deciding which social sites to choose for their business. According to research, using social sites ineffectively is a top reason why some real estate agents fall short in maintaining a strong client base. However, social media is here to stay and it can not be ignored that it is fully integrated into most people’s lives. It’s an effective way for agents to stay in the forefront of fellow neighbors to showcase their listings. Social media also allows agents to stay connected to their clients past the close of a home transaction — keeping the channels of communication alive to cultivate leads through referrals.
If you are a residential agent, make social sites a part of your overall business plan. Start with an advertising plan as well that will help you stay focused. It’s like anything else, be consistent and devote some time to it every day and it will pay off. Keep in mind a simple “like” can go a long way — it lets people know you are there and taking interest in what they are posting.
Social media can find consumers that are motivated and financially ready to buy. Facebook has become a primary avenue that can help to narrow down those groups through paid advertisements. Starting is simple: create a business page and send out boosted posts (these are seen as suggested posts by Facebook users.) Facebook allows you to customize an audience based on demographics and location — that will help you target consumers that can afford your property. Plus, the advertisements to promote a property is a fraction of what traditional print advertisement can cost.
Some of the questions an agent needs to know before using this platform is when to place ads and how often to place them. You will want to do your homework before placing an ad to maximize your exposure and track your progress. For example, sending an ad of a house located in a 62+ age community to every demographic would waste advertising dollars. These types of properties and communities have restrictions on age. Websites such as city-data.com are great demographic resources to use when putting together your strategy for social media ads.
At the end of the day, find which social media platforms you are most comfortable with and which best fits your business model — and use them. Set yourself apart to be unique and build a brand. Those techniques have not changed and still prove to build a sound real estate business.