This week’s real estate tip is about Social Media. I am sure you will agree that the larger the net you cast, the greater number of potential buyers you will attract. Why is that important? More genuine potential Buyers means increased competition between the buyers, as well as social proof thereby helping increase the final figure the Seller will achieve.
There are of course the traditional forms of marketing real estate but let’s not ignore the guerrilla in the room (pun intended). Social media has become such a large part of just about everyone’s life and a valid form of entertainment and communication. Just look at how many people are looking at screens these days. That is why social media is such a great forum for guerrilla marketing.
Therefore it would make sense to utilise this medium for marketing homes just as much as other mediums. This is the reason Shawn & Kym Real Estate have worked to create one of the largest social media followings in our area. But, like other forms of marketing, you need to know what you are doing to achieve the results.
So, let’s cut to the chase – what are the benefits of Social Media marketing and how can this help your home?
Reach and Cost.
Australia has the highest social media penetration globally – wow. The Digital Report for 2019 suggests 73% of the population are active on social media – that’s 73% of every man, woman, and child. It is fair to say this is a particularly important medium to tap into. At present social media is also quite inexpensive compared to other mediums and their reach.
The Serendipity Rule.
Once someone has viewed your home on social media, the property will follow them in their feed, by way of cookies we create, something you most probably would have experienced before. Let’s say you were researching tents for an upcoming camping trip. Soon you would start noticing adds for tents popping up in your feed everywhere. This is the same principle. Buyers are reminded again and again of your home and its wonderful attributes. ‘Wow that home keeps popping up, I guess it’s meant to be’ – hence the serendipity rule.
I cannot think of any other advertising medium where you can actively target your audience to the defined levels of social media permits. You can select age demographics, male or female, postcodes, income, personal interest, even people who have looked at real estate. And these are just a few of the ways you can drill down and target your audience. Imagine if you could do this with television or print media.
Beating Others to the Punch.
All other mediums rely on you the Seller, advertising in a place where buyers know to go to search for property. But the disadvantage of this is the buyers have at this point, narrowed down their buying criteria to suburb or type of home or number of bedrooms etc. What happens if your home doesn’t fall into their specific search, you will be missed?
This is where social media can hit them first. You can reach buyers before they have narrowed down their search, thereby giving you more opportunity. In fact, let’s go one step further. You can hit them even before they have seen any other homes for sale on the traditional mediums – effectively getting the jump on your competition.
We have sold homes where someone sees it on social media, loves it and comes through to inspect. Also, relatives are usually aware of the buyer’s intent to buy and they start looking too and tagging people.
There are many facets to advertising on Social Media which is why it has become such a specialised service. Social media companies are continually changing their logarithms, so it is vital you select a genuine expert in the field, otherwise, you will simply be throwing away good money and great opportunities.
Social media is an interesting and truly relevant form of guerrilla marketing, incredibly affordable and extremely malleable. What we have noted here is really just a very brief summary and something we can happily discuss in further detail.
Written by Shawn Kristofer
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