The Impact of Social Media on the Business of Real Estate

Real_Estate_Hamptons_JUL13

Every month, more than 700 billion minutes are spent on Facebook. Every week, one billion tweets are posted on Twitter. Every minute, 925 iPhones and 103 Blackberry devices are sold. Wow! Social media, internet/mobile marketing and instant communication have taken over, and are here to stay in a big way.

Today’s successful real estate agents know a few important things about social media:

  • That a diverse online presence is key to their overall marketing success;
  • That social media is a portal to connect home buyers and sellers with the information they seek;
  • That social networks like Facebook, Twitter, Pinterest and others offer a rich media experience, allowing potential clients to enjoy videos, articles, photos and other digital files from the comfort of their own home;
  • That social media is a conduit to a conversation, opening the door to deeper discussions that go beyond the limitations typical of traditional marketing;
  • That social media is a powerful way to build trust, credibility and a strong personal brand.

Gone are the days of sitting by the phone or at the office, waiting for potential clients to call or walk in. Prospects are now accessing profiles and other important data on the web long before picking up the phone or even emailing. That’s why giving them easy access to you and your business is essential.

For instance, on Facebook pages, clickable applications allow visitors to connect with your website, blog and other valuable information. Additional sites like Foursquare, Yelp, Twitter and YouTube give mobile users instant access to you/your company while on the go.

Speaking of the mobile revolution, you can’t deny the power of mobile marketing. In the last two years alone, mobile search has grown an astounding 500% with 30% of all U.S. adults accessing the internet via their tablet. These numbers, coupled with the fact that mobile internet searching continues to grow while desktop searching is declining at a rapid rate, make it imperative for real estate professionals to stay ahead of competition by ensuring potential clients are able to easily access social profiles across the web.

We began to buy into the whole social media concept a few years ago, but were skeptical at first. Now we are a true believer in its effectiveness.  These sites are a great way to engage clients, answer questions, disseminate information and so much more. On our Facebook page, we take the time to create content that answers everything from lifestyle to home buying questions to boost awareness of our personal brand and build credibility as a Hamptons real estate leader. And it works. The other day we posted that we were at a certain location, and within a short period of time several people who saw it came there as well, and we struck up a conversation about real estate!

Social media is yet another way for successful agents to provide local and geographically-specific tips about the neighborhood, community and cities they live in. What’s more, we’re making the most of social media and networking sites like LinkedIn and Google Plus to connect with other experts in the industry which is equally important to our business.

Besides individual agents, Corcoran itself has capitalized on the undeniable benefits of social media by recently revamping its award-winning website, integrating the firm’s social media content and focusing the site’s home search functionality on the brand’s “live who you are” tagline. The new site features content from Corcoran’s various social media channels that change with the time of day and search location. The site also features neighborhood-based information from Foursquare, Zagat-based restaurant reviews, and Corcoran agent and employee video reviews from the firm’s YouTube channel. Neighborhood pages feature information about nearby schools, banks and other businesses. Plus users can find the Corcoran agents they’re connected to on Facebook or LinkedIn and, once on an office’s section on the site, they can search for agents based on things like the language they speak, their hobbies and interests and other attributes. An advice section of the site presents Corcoran’s YouTube videos from its agents and staff and allows users to pose questions via Twitter and receive real-time responses from a Corcoran rep.

The possibilities are endless, and the rewards are limitless if you take the time to be active in social media, and take full advantage of its reach. •

The Kulman Team
Adriel Reboh (917) 584-6457
Evan Kulman (917) 453-0733
Facebook.com/kulmanteam
Twitter.com/kulmanteam

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