The modern age of technology poses unique challenges for real estate agents, as well as providing new opportunities.
For a prospective real estate agent, the challenge of attracting, engaging and doing business with clients via social media could seem an intimidating and time-consuming endeavour.
Fortunately, we have spoken to a number of South Australian real estate’s most prolific users of social media, who can shed light on the strategies essential to success in this area, and the effectiveness of them.
How important do you deem social media to success in the real estate industry in this day and age?
Everyday we’re noticing a greater importance in digital and social media, when it comes to property marketing it’s quite simple; the more eyes on the property, the more buyers attend inspections, the more competition we create, and subsequently the more chance we have of achieving a higher sale price for the owners.
In today’s day and age you only have to walk down the street and see how many people are giving so much of their attention to their social media on their devices.
What strategies do you employ to market yourself on social media?
I try to steer clear of marketing “myself” too much and more focus on marketing the property for my clients, however I understand in turn that also has a benefit for me as if I can do a great job for my clients that will attract new clients to me.
What social media platforms do you use and why?
I focus primarily on Facebook as the user group is higher and has a wider demographic reach, which allows me to target more people in a more precise manner depending on the property we are selling.
Which demographics are you trying to target when promoting on social media?
Depending on the property our demographics will vary, but in general we notice that neighbours and locals are the best advocates for the properties we’re selling.
We tend to find the locals “tag” potential buyers for properties and it’s this system that has produced competitive offers for properties we’re selling.
We do this geographically 1-3kms around the property that is for sale.
How does the effectiveness of social media marketing compare to other methods of reaching clients, such as physical advertisement and face-to-face encounters?
Social media works in a similar way to traditional press advertising, letterbox drops, and sign boards. It lets locals and potential buyers, who perhaps aren’t “active buyers”, know that the property is for sale. For example, an active buyer who has sold their property and is now looking for a 4 bedroom bungalow in Glenelg South, will be all over the major property websites and have alerts set up for new listings.
However a more passive buyer who may know they plan to upgrade their home in the next year or two, but isn’t actively looking, can still be a buyer for a property and if we find the right buyer it can ad $10,000, $20,000 or even $50,000 extra to the sale price of a property.
We recently achieved a top price for a family home from some buyers who weren’t looking to purchase until the following year, but because the property was on the same street as their family member they decided to rearrange some finances and buy it now and they paid the best price for the property. So for me, it’s important to market to both groups of buyers to ensure the very best sale price for my clients.