Social Media’s Impact on the Real Estate Industry: FAQ

How does social media impact the real estate industry?

Social media helps create a dialogue and an open environment to make information exchange and flow easier; which is of course what the internet as a whole is doing. Social media allows an open dialog that allows consumers to get to know their agent a little bit before actually doing business with them.

 How are buyers and sellers using social media to buy and sell their homes and properties?

Most people are not using social media for one simple reason; the vast majority of people don’t understand it. Most people have heard of Facebook, Twitter, YouTube, etc but they don’t know if or especially how it can actually help them sell their home or property. They are using social media for other things, but for selling? Not so much.

 How are real estate sales people currently taking advantage of social media?

Typically, there are 3 main categories that real estate professionals fall in when it comes to using social media:

 1) They have no idea whatsoever regarding the impact of social media. They’ve heard of it but are not using any of it. Many consumers out there are using Social Media and these real estate sales people will not have contact with them in a way that they are comfortable with.  Most real estate professionals are better sales people than to knowingly let that happen.

2) They know something about it and have perhaps started to use social media but have not gotten noticeable results.  They are not taking advantage of the great tools available.  They may be using it as an advertising channel.

3) Real estate sales people that have integrated social media as part of their marketing strategy. These professionals  make sure they are approachable and talk with their market. They give the opportunity for consumers to get to know them before they do business with them. They make sure that they market their properties on their social media channels. They mine social media for contacts and referrals and use it to increase their reach and better service their customers. Even as markets tighten up, these agents have seen an increase in business. 

 Not in the 3rd category, but interested in developing these skills?  http://www.onlineerealty.com/ provides workshops on Social Media to get you into that third category.  Locations all over Ontario…

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About online - e - realty

Doug Mack has been providing consulting and training services to the real estate industry since 2006. Specializing in computer related services and tools, Doug is the owner of DM & Associates, a consulting firm specializing in training and computer services to real estate, insurance and mortgage groups. Recently Doug founded online e realty, a firm specializing in Social Media.
This entry was posted in Blogs, Facebook, LinkedIn, Real Estate, Social Networking, Traffic, Twitter and tagged , , , , , , , . Bookmark the permalink.

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