In June I was asked about the growing role of social media use in real estate. Below is an excerpt of a feature published online by RealEstate.com.au. You can read the full article here.
According to the 2013 realestate.com.au Buy/Sell Report, 85% of sellers who had advertised their property did not use social media. Consumers typically aren’t using the power of social to sell property. But should they be? We look at the potential sales uses for social, which demographics are among the early-adopters and whether it’s working for them.
If the last two years have taught us one thing alone, it’s that social media is a mercurial beast. Simply keeping up with trends in new platforms can almost seem like a part time job. And that’s just another reason why social doesn’t feature high on many homegrown agency playbooks… We speak to two local agents making use of social media and ask how and why it works?
…At Riverview Realty NSW, a social media manager is incorporated into the nuts and bolts of the business. Managing director Andrew Bruce explains: “We have a social media expert who works for us. We pay him a monthly retainer and he does all our social media.” Despite the position being created specifically to grow business networks, not sell homes, Bruce argues this is a worthwhile investment in the future as “generation Y is highly attuned to that market.”
“In the last few months especially, we have focused on Pinterest, Facebook, YouTube, Vimeo, LinkedIn, and Twitter,” Bruce says, explaining that once a property is advertised across platforms, the vendors themselves then can supplement the process by sharing the listing through their own social networks.
When it comes to social, measurements in effectiveness aren’t necessarily gauged by sales. “It comes down to increasing openness and transparency,” Bruce says. “Our social media presence is quite involved,” he says. “It has to be educational. You need to have something to offer.”
THE REAL POWER OF SOCIAL: 3 REASONS TO USE SOCIAL MEDIA
Social media might not have everyone convinced yet when it comes to advertising property. But for any fence-sitters, here are three reasons that might push you over the edge:
- IT’S TARGETED.
With a goldmine of data on users, advertising on Facebook is now more precise than keyhole surgery.
- GEN Y LIVES THERE.
The next generation of homeowners have been social media literate since Mark Zuckerberg was in college. Social media is their lingua franca and the agency of the future needs to be fluent.
- IT’S INEVITABLE.
No one wants to arrive last to the party. And when you’re talking about 1.3 billion active Facebook users globally, that’s a party no business will want to miss out on.
Riverview Realty is a boutique agency focused on achieving the maximum price, with a client engagement that is above the industry standard. We call it the “Ultimate Experience” which forms part of our unique selling proposition.
Ph. 02 9420 0083, 59 Tambourine Bay Road, Riverview.
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