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…