Social Media and its Impact on The Real Estate Industry
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’ like those listed below is an absolute MUST these days – many agents are now embracing social media.
www.platinumrealtygroup.com.au
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 6 or 7 years ago 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 brand 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 head in public)
o There are 13.2 million facebook users in Australia
o There are 12.6 million youtube users in Australia
o 71 % of social media users research via a smart phone (you need a responsive website)
o The average time spent by allAustralians on their smartphone each day is 2 hours
o According to Some real estate figures – listings with a video receive over 100% more enquiries than those without
o Remember: the key times that social media use occur 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:
platinumrealtygroupblog.wordpress.com 