Does Real Estate Benefit From the Exposure of Social Media Sites?

Many may wonder if there is any real benefit to people or companies using Social Media outlets to promote their businesses. Early indications say the answer is a resounding 'yes' with how many businesses get picked up and are followed by people through Facebook and Twitter. Real estate is an industry that I believe has the potential to benefit from it as well because of how real estate is seemingly a common thread in the lives of most people's social circles. As social media has turned mainstream, many people have started to use social media sites such as Facebook, Twitter or Linkedin in more constructive ways, instead of just connecting with high school buddies or co-workers.

Realtors and homeowners are turning to Facebook, Twitter and LinkedIn to market their properties in a sometimes frustratingly slow market. While these methods can help expose a listing to a new audience, it does require a strategy and tact. You want your 'connections' to be interested in what you're sharing so that they will share it even if they're not in the market to buy or sell themselves. You can't just start tweeting and friending indiscriminately as that's a surefire way to become a social-media pariah.

I believe that people are innately interested in real estate (especially if they already own some) and like to see what is out there so they can do the 'compare to their own property' ritual. People are always wanting to know where they stand in the market, even in tough ones like the one we're going through now. Many people keep real estate at or around the forefront of their mind because there is always this 'you don't know what will happen in the next year or two' mentality (i.e. Job change, family expansion, downsizing etc). Keeping in touch with the market, even from a periphery helps people feel like they are somewhat educated about the market.

Social media outlets help people accomplish this in a very non-intrusive fashion. There is a study out there by JD Power & Associates  who rate anything from blenders to cars to real estate who say that over 85% of people first find the home they will purchase on the internet. 

Establishing a 'social media' page can be tricky and involves some thought. A reputable agent will have a 'fan page' dedicated to their real estate activity so that their main profile isn't perceived to be all work; after all Facebook was created with the intent of connecting friends on a more casual level.  Real estate agents work to find balance with this because in their world, real estate is an everyday thing and something nearly all their connections can associate with; unlike seeing a connection talk IT jargon or a connection talk about medical equipment sales which are things most people can't associate with on a day-to-day basis.

So, I believe there is a place for using social media in real estate and think it will only improve as time goes on. If you find a good, informative and casual site then 'like' it and pass it along as you never know which one of your connections might just be in the market or interested to know what the market is doing; the casual nature of most of these sites makes them a great place to get information, keep up-to-date and potentially find your next home or for your friend to find theirs.

For more insight to people using social media for real estate, Click Here to read more about it in a bankrate.com article.

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