Continuing my recent theme of how technology and social media is affecting and interrupting various industries, this week I thought I’d look at real estate. My family was in real estate for 40 years so its something I have been watching for a long time. I also took a lot of interest in a friend of mine who sold his Sydney home after moving to the USA by utilising social media. He said the best inquiries and the ultimate sale came from his online strategy rather than the agent.
In a buyer’s market, exposure is one of the most important factors to consider when you are selling property. There is no outlet that will give you wider exposure than the internet. Real estate agents have long been aware of this, with a recent online marketing survey finding that real estate is the industry with the most internet savvy, second only to those in the internet business itself. For individuals who have property they wish to sell or rent, taking a two-pronged approach to online real estate marketing is recommended. The use of online listings websites combined with social media marketing will reach the largest audience in the shortest amount of time.
Listing Property with Real Estate Websites
One of the primary ways to use the power of online marketing is to use websites for selling your home. Approximately 87% of Australian consumers turn to online listings before they contact a real estate agent. This means you should put forth the effort to create a flawless listing. Attractive photos, attention-grabbing headings, and a list of your home’s most important features will help your property stand out. Listings without images or any relevant information will usually get skipped over by anyone performing a specific search, so be sure to include all pertinent information.
Market your Listing Using Social Media
You may already have your listing up, but if you want to draw in the full potential range of potential buyers or renters you’ll need to start casting a wider net. This is where social media marketing tactics come into play. The following techniques can help you market your listing.
- Property Blog – Create a blog for your property. You could use free services like WordPress or Blogger to get started, which come equipped with free templates. This helps you tell the story of your home and reach out to potential buyers on a more personal level, using video, images, and social media widgets.
- Keyword Research -Determine which keywords are searched for most frequently by those looking for property listings in your area. You can then work these into your blog and online listing.
- Create Multiple Accounts – Setting up different social media accounts for your property will allow you to reach out to a potentially unlimited audience. Twitter, Flickr, Picasa, Facebook, and LinkedIn can all be used to sell your property when given its own unique profiles. This is less time-consuming than it seems, because you can use the same information for each account.
- Post Regularly – It’s tempting to set up these accounts, post your listing online, and be done with it. Yet this defeats the purpose of using social media to market your property. If you want to rent your house, use your Twitter account and blog to post interesting news for renters or personal anecdotes about features in your home.
- Engage and Share – Interact with your audience, responding to comments and encouraging contacts to share stories you’ve posted. The more you engage with social media, the higher the likelihood that you’ll find a receptive buyer.
By combining the use of a professional listings website with your own social media marketing campaign, you can reach out to a far more diverse audience. Although it takes a bit of effort to take the online initiative, you’ll boost your chances of success in a tight housing market.