A study conducted in 2020 by The Close, a leading real estate website, revealed that 44% of property agents found a client through social networks during a global pandemic. Further, 82% of the agents who were part of the survey accepted in a breath that “improving social media presence” is the one strategy that they plan to adopt earnestly.
The answer to the question “why?” is simple- the world is on social media and so needs to be the enterprises. While ample small, medium, and even large businesses are already leveraging social media platforms to their advantage, the real estate industry is still missing out on the edge by a great margin.
If you still refuse to believe the increasing popularity of social network in an industry where median age of an agent is 55, consider these stats-
Remodeling the client acquisition strategy in 2020, only 33% of the real estate agents relied on online advertising. 26% opted for buying leads, 18% on print advertising, and 16% on cold calling. While the biggest share was occupied by referrals at 83%, posting on social media networking sites also proved to be significant to real estate agents with a 44% success rate.
Social Network is “Imperative” to Modern Age Real Estate
Let’s begin with the most famous of them all, Instagram. There is so much one can do on the gram and the biggest reason is that, for an industry like real estate, Instagram is a highly untapped and potential market. As of now, only 14% of real estate agents are leveraging this social networking site to their advantage.
There are billions of users on Instagram, half of which are daily users. If pitched with the right, high-quality, and engaging content, real estate agents can make fat checks out of this social networking platform.
Another platform that has recently become a buzz during the lockdown is Clubhouse. Surprisingly, for a comparatively newer social networking site, Clubhouse is already proving to be highly promising for real estate agents. Take, for instance, a club named “Buying The Block” on CH. It has around 80,000 followers and it’s not the only real estate club on CH, there are many with a significant number of followers.
On Facebook, realtors are embracing video marketing strategies to showcase the deals in a manner that makes them irresistible. A minimal expenditure on ads along with a personalized video showcasing every aspect of the deal that the client wants can be a highly effective strategy.
What is the right way realtors can benefit from social networking platforms?
For the traditional agents who have relied on anything for real estate clients but social media, this place can be not just difficult, but daunting. However, with the right strategy and consistency, the cynicism can soon turn into a successful vacuum of deals. Even if you can never convince yourself to rightly implement the power of social networks for your real estate business, you can always hire a person or two for the job.
So how to go about this? Here are a few tips that will help-
1. Content is everything!
This is the most basic and yet the most important tip that every real estate business must religiously adhere to on social network platforms. If your content is not able to convey what you want to tell your potential clients, it’s all a waste of time and money. Invest in professionals while taking pictures of your property or making a sales video. While making graphics, make sure you let a professional graphic designer do it unless you are brimming with creative juices.
Put enough information with your post. High-quality content not just makes your offering tempting, but also asserts the authenticity of your business.
2. Think Bigger! Beyond just the property.
What matters more for the client than the property they are buying? The city or town it is located in. While posting on social media, make sure to not get caught in just promoting your property. Promote the city or town as well.
What makes the city lucrative? What are the recreational activities it offers? List down some famous tourist spots if any. Talk about a special procession or festivity that your city or town hosts every year. Talk about why a buyer should invest his money in a specific location and watch your clients taking a step forward.
3. Upload educational content
The secret of any relationship is mutual growth and benefit. While trying to gain clients from social media platforms, your priority should be to build a community of followers on your business handle. This will make your business look authentic and trustworthy (which it is). Make a content calendar- post pictures and videos of property but on days, put up content to educate your followers. This content can be on topics like home loans, or down payments, or interest payments.
The idea here is to build a community on trust, value and growth which will testify your importance in the market.
4. Talk to your social media community like real customers
This is where most of the business goes wrong. Your work as a business organization doesn’t end on social media after putting up a few posts. You need to interact with the people who comment on them or message you. Just do it as you would do with any real customer. Respond, answer, say thank you. But don’t just let them be.
5. Be consistent
The most common advice and also the most significant. Significant because there is where you win or lose. Anyone can follow the above steps mentioned in this article. However, it’s about how long can you continue repeating the same steps. Social media requires time and patience and some of the biggest business pages on the social networks, real estate or otherwise, are the ones that post every day and without any change in frequency.
So hang in there and keep working it.