With the median age of US homebuyers being 30 years old, maintaining an active presence online has become a competitive advantage for the industry’s top producing agents. Throughout this lesson, discover how to leverage real-time insights through social listening to uncover who’s interested in buying or selling a home and how you can tap into your existing social network for warm leads.
- [Instructor] According to the 2016 National Association of Realtors Profile of Home Buyers and Sellers, the median age of first-time home buyers in the United States is 32 years old, which makes up 35% of all real estate sales. Seen here is an example by Cameron Manning of Keller Williams in Vancouver, Canada, who took to Facebook to share with his social media followers that he sold a house using Snapchat, which is predominantly used by younger consumers.
Another post by Cameron links to his YouTube vlog from his company's annual convention, where he used video to stand out from his colleagues. A study by real-time social media monitoring service, Mention.com, revealed that 77% of brand conversations on social media are people looking for advice, information, or help, which indicates that today's consumer is relying less on traditional forms of advertising to find a service provider.
In addition, the 2016 National Association of Realtors Profile of Home Buyers and Sellers survey also revealed that 64% of sellers who used a real estate agent found their agents through a referral by friends or family, and 25% used the agent they previously worked with to buy or sell a home. Meaning, word of mouth is critical for referrals, and staying in touch with past clients through social media will help you remain top of mind, even after a transaction has occurred.
To reap the benefits of social media, you have to put yourself out there and grow your presence. As indicated by a recent Facebook post where I asked for a recommendation for a real estate agent, over 50 comments with recommendations were made. Social selling is a modernized approach of identifying and engaging potential clients through personal branding and content to sell. As a real estate agent, the first step to building a long-lasting brand and recurring sales pipeline is to understand who your consumer is, where they are online, and what they want to see.
Start using social media right away to research key search terms, such as realtor, real estate agent, and just listed, to see what your colleagues are posting daily.
- Technology and the real estate sales cycle
- Why personal branding matters
- Building a referral network with groups
- Optimizing your LinkedIn profile
- Creating engaging social media content
- Storytelling strategies for your next open house
- Writing compelling ad copy
- Best practices for boosting page content
- Using hashtags effectively