Social media has been around for quite a few years now and it doesn’t seem to be going anywhere any time soon. Billboards, radio ads and newspaper ads are becoming a thing of the past as most real estate agencies are creating a strong presence on digital platforms for marketing and advertising. While marketing is split into two key areas being ‘call to action’ and ‘branding’, social media can deliver on both, with actual data to support the cut through to clientele and market leads.
At LOCATIONS estate agents, we pride ourselves in a strong digital presence and ensuring we remain up to date with the evolving social media industry. What does all of this mean and what does social media have to do with selling a house? It’s not a simple as putting a few photos and a blurb on platforms like Facebook. There is a method to the madness and depending on the skillset of your agent and marketing team, you could be potentially wasting your allocated social media spend if they aren’t doing things correctly. Here are three key reasons why you should invest in social media marketing when selling your home.
1. REACH A LARGER AUDIENCE
Long are the days of only selling your home within your town or local region. Now, at the click of a button, buyers both state and country wide can browse listings from the comfort of their lounge. More and more investors from Sydney and Melbourne are looking for affordable properties in regional areas. How are they going to find your listing? While the internet is the main channel for browsing property listings, Facebook advertising is the most common property lead funnel available in the market.
Facebook adverts use complex algorithms, a paid budget and audience demographics to enable advertisers to target very specific locations. There are no limits on geography because it enables the advert creator to select both local, national and global demographics. The result is that we reach buyers on a national scale instead of just the Gladstone region which can be a competitive advantage for the specific property listing. Where traditional marketing may involve a lot of groundwork, including phone calls and snail mail, now, buyers can be identified very quickly to increase product awareness.
2. BETTER RETURN ON INVESTMENT
Social media advertising is a lot more budget friendly than their traditional counterparts. For example, $75 has the potential of reaching up to 5,000 people with nearly 300 of them viewing your listing. It is even possible to track each person who sees your listing advert, including data on whether they clicked the link to the website or not. Social media reporting also provides detailed insights and data regarding the performance of a campaign including how your money was spent (return on investment, known as ROI).
While social media tracking can be a data rabbit hole, it’s incredible information that hasn’t been available with traditional advertising such as print media. There is no way to track how many people saw your ad in a newspaper or heard it on the radio. The only guide here with ROI is by asking potential clients and relying on their feedback. Like any type of selling market or product, it’s a numbers game. By increasing the numbers of eyes across your product or service, it increases the chance of effecting a sale. Due to the cost effective and targeted marketing strategy that social and digital marketing can offer, it can be one of the best investments you can make when developing a selling strategy to sell your property.
3. MILLENNIAL MARKET TREND
There is no reason not to advertise on Facebook. How many minutes a day do you think you spend on Facebook? How many ads do you see during that time? Interestingly, 99% of millennials, start their real estate search online. Social and digital media is your prime opportunity to get your property in front of the eyes of the buyer, especially in today’s fast-paced market.
Real estate is extremely visual. If a buyer scrolls past your home on Facebook, they are going to have to click on it. This is the main reason that professional photographs are recommended for property marketing including both sales and leasing. People like pretty and are drawn to aesthetically pleasing images. Even on social media, there is a huge amount of competition for the consumer’s eye. People are overwhelmed with the amount of digital information and advertising put in front of their eyes every day. It’s imperative to have highly engaging content and property marketing to gain instant attention to give your home a competitive edge when selling.
Overall, Facebook advertising is a low risk, cost effective way to market your home.
If you would like more information on how social media can be used to achieve the sale of your home, get in touch with our team.