Social media and its impact on the real estate industry

Social media and its impact on the real estate industry

by 0 comments

The world of real estate was tracking along quite nicely and then 'pow!', along came the internet and social media.

The world wide web changed the face of modern real estate as we know it and the way properties are now promoted to the public for sale and rent.

Traditional real estate property promotion was primarily via a listing or lineage ad in the weekend papers with rentals being advertised on a Wednesday. For the super properties, a photo property series was an advanced option.

Today, it is all about getting the right property to the right person, as quickly as possible and with as many attractive visuals as possible.

Whilst the use of company websites and real estate ‘portals’ is an absolute must these days – many agents are now embracing social media.

Social media is still in its early days in Western Australia as a tool to sell real estate or rent out properties. However, in the USA (who Australia tend to follow their social trends), some agencies are sharing new images of properties available on Pinterest daily.

Other platforms like Twitter, Pinterest, Google+ and Facebook play a big part too, although many Australians are just not used to them yet! Unless you are under 30, of course.

Should we be using social media? Yes, we think you should.

It’s a great tool for branding, general awareness, reaching the masses quickly, sharing with friends and family, targeting specific groups and ages and so much more.

If you look back not more than six or seven years there was a point where people said, "I don’t need to use the internet for my listings, I like the newspaper". There was also a thought that we don’t need a website, and the current real estate portals were just in their infancy or not even around then.

As quickly as the need for a website came about is the need for agencies to get on board with social media. The modern generation do the largest percentage of their web browsing in social media, they take word of mouth advice from friends and if you don’t exist, then you will fall behind very quickly.

Social media allows agencies to promote their brands and brand values, increase public awareness, provide information to the public, position yourself as a trusted company and, most importantly, increase your referral networks.

All this means you can reach more people, more quickly and access more buyers and tenants.

In a nutshell, why will all agencies get on board the social media bandwagon whether they like it or not?

o It is highly targeted

o Gen Y and Z live there (you’ve seen them – they are the ones who can’t lift their heads in public)

o There are 13.2 million facebook users in Australia

o There are 12.6 million YouTube users in Australia

o 71 per cent of social media users research via a smartphone (you need a responsive website)

o The average time spent by all Australians on their smartphone each day is two hours

o According to some real estate figures, listings with a video receive over 100 per cent more enquiries than those without

o Remember: the key times that social media use occurs is out of work hours!

Platinum Realty Group prides ourselves on being market leaders in social media in Western Australia. You can find us here:

John is founder and Managing Director of Platinum realty group, a modern and innovative, total solution real estate Company with a focus on delivering a 6 star real estate experience to every customer.
Starting his career in real estate in 1996, John has been recognised by his peers as a leader and a visionary with an ability to remain ahead of an ever changing real estate market

promoted content
Recommended by Spike Native Network
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent's commitment to clientele built him a 25k-strong client base

In this episode of Secrets of the Top 100 Agents, host Tim Nearly talks to RT Edgar’s Glen Coutinho who ranked number six in this year’...

View all podcasts

How effective are testimonials as a marketing tool?

Not effective at all
Somewhat effective
Very effective
They are the most effective tool there is
Do you have an industry update?