2011 Guide to Social Media & Real Estate

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Contents 1 How is Social Media Relevant1 Common Social Platforms2 Key Benefits3 Practical Application4 Common Mistakes4 Legal Considerations5 How You Should Use Social Media

5 About Social Media Solutions

Social Media Solutions | www.socialmediasolutionsllc.com | Orlando, FL | p. 407.256.9233 | f. 407.539.6191

How is Social Media relevant to Real Estate?The Internet revolution has literally brought seemingly endless amounts of knowledge right to the fingertips of consumers. This includes those consumers shopping for real estate.

Buyers and sellers can use the internet to look at listings and learn more about areas anywhere in the world. Gone are the days where one had to get in the car, use a map, and drive to see a place they might like. Now they can look online and drive to see a place they already know they like. In fact, according to the 2009 National Association of REALTORS Profile of Home Buyers and Sellers, 90% of all buyers today use the Internet to search for homes. Social media marketing is rapidly gaining popularity, and it is most successful when real estate agents use it to build relationships while providing great information to the community.

Social media works by connecting people together. This means it is important to interact with the social network in positive ways. It is not meant for one-way self promotion or personal advertising. It is meant to be an open conversation. Social media groups formed on Google, Facebook, and LinkedIn are three sites that allow you to search for conversations that are already occurring. These sites are simple, but perfect ways to begin branching out and interacting with the market.

Using social media correctly leads to finding new opportunities professionally. Through social media, realtors can discover users with related needs or concerns, quickly assess those needs, and provide help or feedback. This new type of virtual lead generation is important as new home buyers quickly utilize word-of-mouth (WOM)

recommendations and their own research. By building connections through social media networks, WOM can be heard or read by thousands upon thousands while leading to new clients.

Facebook Facebook can be used to manage either a personal account for a specific real estate agent or it can be used as a professional platform for a real estate firm. Facebook is useful because it allows for video and photos to be uploaded and provides a stage for dialogue on each video or photo individually. Real estate professionals can quickly start a conversation and receive feedback on a listing straight from potential home buyers.

LinkedIn

LinkedIn is the top professional networking site and allows users to see the experience and expertise a professional within their industry on their profile. Through LinkedIn, you can easily expand your network as you’re shown potential connections based on current connections. This can lead to new introductions or referrals.

Remember Word-of-mouth spreads fast, and in the virtual world, it spreads even faster to a much wider audience. Positive interactions are important to build relationships and brand loyalty. It is important to be a reliable source of accurate information so users know they can trust the content they read. Engaging in social media is best when there is genuine interest in helping others solve their financial needs, not constant self-promotion.


Twitter

Twitter is a virtual word-of-mouth network that limits posts to 140-characters (similar to a text message) but provides quick updates on listings or industry news. Users can search Twitter for a specific term or phrase, such as a city name, and see tweets that containing that term. This helps realtors tap into their online market and share new listings or other valuable information. Followers on Twitter can easily “retweet” the post thus expanding the reach for the listing.

Blogging

Blogs are often found on a real estate agency’s website or on a professional site. Real estate agents frequently use blogs to share important content about listings or need-to-know facts for potential clients looking to move to the agent’s service area. They are often a useful resource for home buyers seeking more knowledge about the buying process or their local market.

YouTube

YouTube can be a great platform for virtual tours and real video of listings. Real estate agencies can use the media-sharing site to measure a listing’s popularity through monitoring the number of times a video has been watched. It can also be used as a video blogging (vlogging) platform. Real estate agents or their brokers can create custom-branded channels that feature all of their videos.

Active rain

Active rain is a real estate website that connects thousands of real estate professionals. The website has two tracks built within it, one for consumers and one for professionals. Each track has appropriate links to relevant and useful information such as market financial statistics, listings, branding, blogs, tips and advice, etc. Both home buyers and agents can keep track of changes in their local market and other housing trends in the economy.

Trulia

Another useful networking website aimed at real estate professionals who want to connect with investors, agents, brokers, property managers, etc., is The Flipping Pad. The site features discussion boards where users can post questions and get reliable answers and information. For those who enjoy “flipping” houses, the site dedicates an entire section where new projects are posted. Real estate agents can show off listings and details of properties where users can easily see listings and new projects in their area.

Wellcomemat

Wellcomemat boasts the slogan, “videos connecting people and places,” which is exactly what the website does. Wellcomemat allows real estate professionals to create and share video content of their properties. This effective marketing method allows potential buyers to take a virtual tour of a property to actually see what it looks like inside. With what is essentially a virtual open house, real estate agents are able to share their listing with large masses of people, who can then share it within their own network. Sellers are excited about sharing their properties virtually, and buyers are excited to see real video of a property. Videos are more engaging than photographs and provide viewers with a more sincere vision of a listing.

Key Benefits of Social Media & Real EstateSocial media provides unique benefits for realtors that use it to their advantage. It opens up a platform for two way communication with consumers. Real estate agencies and brokers can find out what makes their audience tick, what their interests are, and how to best meet their needs. Simultaneously, consumers can interact with realtors by asking questions while also engaging with the realtor’s personality. The ability to foster two-way communication creates new opportunities for realtors to build relationships

Banking Checklist

1. Use a relevant name.Make your account names easily searchable and relevant to your brand.

2. Strategically create content.Don’t just push out information. Think about what content would be most valuable to your audience.

3. Remember, it’s a conversation.Talk to your audience like you would talk to real people. Avoid contrived speech or industry jargon. Use content that is open-ended and inviting.

4. Consistently update your content. Manage the sites effectively by being current and up-to-date with content so customers return to the site for new updates and information.

5. Integrate your efforts.Tie social media into your other marketing efforts by focusing on the same underlying message about your brand and adding your social sites to your print materials.


with consumers. Through building these relationships, realtors build trust and customer loyalty while networking at a faster pace. Real estate agents can also increase their reach and opportunities for referrals by branching out in the virtual world.

Practical Applications of Social Media in the Real Estate IndustrySocial media platforms that reach a mass audience have proven successful for real estate agents through lead generation, brand building, and sales. The following case studies reveal how some real estate firms have found real

success from engaging in social media.

Case Study: Century 21’s Blog Radio and Social Media

Century 21 realized the power digital marketing has in today’s society and changed the focus of the brand’s marketing efforts to incorporate online marketing. Their new plans focus on online radio and social networking to improve lead generation and sales within the firm. Through using BlogTalkRadio, Century 21 has created a branded communication resource where home buyers can participate

in an active dialogue with real estate professionals. Perhaps the most intriguing aspect of using blog radio is that Century 21 is not doing this for self promotion. Although they are the brand supporting the show, there is no personal identification or follow-up calls. The radio blog is purely a conversation which makes home buyers feel confident and comfortable to interact with the company and ask questions.

Blog radio is not the only online endeavor Century 21 is taking on. They have found that the internet has generated new leads more efficiently than other media outlets and have shifted their marketing budget away from traditional television advertising. Their new marketing plan includes YouTube, Twitter, and Facebook which all open up two-way communication channels with potential clients. By combing their social media networks with other, more traditional internet marketing methods, Century 21 is able to maintain a presence in the virtual world while expanding their reach to a large audience.

Case Study: A Bird’s Eye View

One award winning blog has taken the partnership between the real estate industry and social media very seriously.

Listed in The Daily Retriever’s Top 100 blogs, Roost’s Bird’s Eye View is a real estate blog that features important content about how to get the most from social media and also includes industry news and local market insight. Roost’s real estate Facebook application allows realtors to customize a tab within their page or profile that features information about the realtor, contact information, and valuable information about the city the realtor serves.

Case Study: The Goodlife Team

The Goodlife Team, led by Krisstina Wise, is a self-defined “hip, urban, Austin real estate firm,” and considered a social media leader in the real estate industry. Their real estate practice is ranked in the top 1% nationwide, and Krisstina credits their success to the firm’s advanced adoption of innovative technologies,

an entrepreneurial spirit, and a far-reaching commitment to service. The Goodlife Team is recognized on a national level as a leader in internet lead generation through social media platforms with a rich commitment to take care of their client’s concerns.


According to Wise, The Goodlife Team’s online activities are all about the consumer. Their website is designed to create a convenient, easy-to-use, and engaging experience for their buyers and sellers. The Goodlife Team also uses LinkedIn, Facebook, and Twitter for lead generation and consumer interaction.

Wise emphasizes the importance of using these tools as a way to let the consumer know it’s all about them. This means consistently and frequently providing valuable content for consumers at all levels of the buying process while dialoguing with them online through social sites. Wise also emphasizes that when someone Googles your name, you don’t want them to see negative information or no information at all, rather you want them to find “good gossip.” This means actively creating positive interactions between you and your clients, referrals, and prospects.

Mistakes Real Estate Agents are Making with Social MediaGiven the viral nature of social media, it is inevitable that some individuals or entities may find that the incorrect use of it has actually damaged their reputations. Their audience may view them as overly aggressive or unavailable, and as a realtor, you may be left wondering why your social media efforts aren’t going anywhere. Here are a few of the more common mistakes that realtors make.

I’ll just wing it.

Promoting yourself through social media is a combination of traditional marketing, word-of-mouth marketing, and public relations. Most great business leaders would never begin a marketing campaign without strategic goals, an implementation plan, and concrete ways of measuring success. Social media is no different

Before getting started with social media, it’s important to understand what you want to accomplish it, how you’re going to accomplish it, and how you will determine if you’re successful. Don’t assume you can build a profile and your audience will come. There must be strategy behind what you’re doing.

It’s all about me.

Social media is about building relationships and entering conversations. If you were at a cocktail party and met a potential client, you wouldn’t spend the next 2 hours filling their ear with strong marketing messages and sales pitches. You would ask questions, get to know them, and build a friendly rapport that would help you discover their needs. Use social media in the same way.

Instead of asking yourself, “How will social media help me?” ask, “How can I use social media to help them?”

Silence means I’m busy.

Many realtors assume more time on the computer means less time on landing listings and buyers. Remember, online marketing is just as important as your other marketing efforts. It’s a piece of your promotion puzzle that makes your marketing efforts personal, relatable, and interactive on an international level. That’s worth spending time on.

If you create social profiles and abandon them, your audience won’t assume that means you’re hard at work. They’ll think they weren’t important to you, or worse, they’ll forget about you entirely.

How Should YOU Use Social Media?Social Media is an excellent tool to positively promote real estate to your desired audience, by allowing them to become actively involved. We have created a list of tools that we recommend you consider engaging in, which will increase your site’s popularity and reviews.

Create a Facebook page – be sure to continuously add engaging content and respond to posts.

Actively involve yourself in a Twitter account, & show participation by following others.

Create a blog where your audience can find industry-related tips and trends while communicating their opinion on current topics.

Use sites such as Flickr and YouTube to promote your listings and other valuable information, by uploading photos and videos for your audience to access and link to their own accounts.

Saturate the online marketplace with your listings while answering questions and discovering needs. Use real estate specific sites like Zillow or Trulia to increase your listings presence, and connect with others through their Questions and Answers are

About Social Media Solutions LLC

Many social media campaigns transcend across channels such as marketing, public relations, and sometimes eve customer service, depending on the goals of the campaign. To effectively manage these needs, a social media agency must essentially be an extension of the client, involved with various communication channels within the client’s organization in order to communicate the right content and the right time.

Social Media Solutions prides itself on becoming an extension of your business. Not only will we work your account as if we were promoting our own business, but we will also continue to brainstorm and develop new online marketing and social media strategies to optimize your business.

To learn more about Social Media Solutions, visit our website at http://www.socialmediasolutionsllc.com.

http://facebook.com/socialmediasolutionsllc

http://twitter.com/sms_connect


2011 Guide to Social Media & Real Estate

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