Home Run: Social Media Marketing for Real Estate

At every turn, you hear about the importance of social media marketing. But if you are like many in the real estate and new home building world, you may still think it’s not that important for your business. After all, people may buy clothes and makeup and décor and tech gadgets they see online but they don’t buy houses that way. Or do they?

You might be surprised to learn that not only does the internet at large play a central role in the way people shop for and buy homes (up to and including some home purchases that take place based almost entirely on the home’s online presentation). But social media is a much larger, more effective and more targeted part of the mix in getting your homes in front of potential home buyers than you may have realized.

The Case for Social Media

As an effective and cost effective means of building awareness and engagement for brands and their products, social media plays a vital role in bringing brand stories and offerings to life and connecting them with their target buyers. For residential real estate in particular, it has become an increasingly important driver of discovery and credibility as potential home buyers navigate a competitive and often crowded market. Consider this:

• According to NAR’s 2023 Home Buyers and Sellers Generational Trends Report, 96% of all home buyers in 2023 reported using online sources to search for their new home.
• Social media was the tool cited as the best source for generating high-quality leads among Realtors® in NAR’s national survey.
• 92% of home builders report utilizing Facebook to generate awareness and leads both organically and through paid programs. 72% report utilizing Instagram for the same purposes.

The key to social media’s effectiveness is all about meeting your customers where they are already spending their time online.

• Data Reportal’s Digital 2023 Global Overview Report shows that 96.4% of all internet users report spending time on social media networks within the last month.
• In 2023, the typical U.S. internet user spent more than 2 ½ hours on social media each day, a new record high. And social media accounts for the greatest share ever of total online time.
• 45% of consumers say they search for purchase and brand information on social media before looking anywhere else.
• According to the 2023 Sprout Social Index, research shows that 91% of users that follow a brand on social media will visit that brand’s website, 89% of them will consider buying from that brand and 85% will consider recommending the brand to a friend. 52% of users surveyed say content and/or advertising on social media directly influences their purchase decisions.
• According to HubSpot, in 2023, one in four U.S. consumers say they bought something based on a social media influencer opinion or recommendation.
• A recent Consumer Trend Survey found that 64% of Gen Z, 59% of Millennials and 47% of Gen X discovered a product on social media in the past 3 months. On top of that, social media was reported as the most preferred product discovery channel, above even web search, for Gen Z, Millennials and Gen X with Boomers usage growing quickly as well.

All that means that social media is a critical part of the online media mix in the same way that a professional website and strong search engine presence have long been considered. Remember, social media is now the preferred discovery engine for almost half of consumers. That means before Google, they’re going to social media.

What Can Social Media Do for You?

Social media is the place to be to meet your new home buyers then. But what can you accomplish once you are there? A smart social media strategy combined with consistent and good quality content can be a powerful combination for advancing your brand in customer consideration. There are three key benefits to pursue:

1. Brand Credibility: For many consumers, the purchase of a home is the single largest purchase investment they will ever make. That means that a big part of selling homes is confidence. Research shows that when consumers want to know more about a brand or company, social media is one of the first places they will go. So, if they go looking for your company on social media, what will they find? Will they find nothing at all? Maybe one or more old, abandoned profiles with a scattered haphazard mix of content? Or will they find a strong, cohesive brand presence sharing relevant home search information, showcasing your homes for sale and building your reputation for success? Much like your central website, your social media presence either inspires confidence or damages it – there is no neutral. The content that consumers find from your brand on social media is a proxy for the quality of the homes you sell and the service experience you offer. Social media is a critical place to build the credibility of your brand, instilling confidence in potential home buyers to encourage them on the next step of their home search journey.
2. Lead Generation: More than ever before, we shop and communicate online. Searching for a new home is no different. Many new home buyers use social media as a primary source to get initial information about homes for sale. In fact, the presentation of your homes online may determine whether or not a potential home buyer takes the time to see a home in person. Not every home or neighborhood will make the cut for an in-person visit, so putting your best foot forward online is critical to moving ahead. Even more, social media is rapidly growing as a source of direct lead generation. As consumers grow ever more comfortable initiating everything from purchases to customer service inquiries on social media, lead generation for home sales on social media continues to grow. Realtors® and new home builders alike are looking to social media to generate leads through both organic means – like web form links, email sign-ups and even direct messages – as well as paid programs including lead generation ads.
3. Reputation Management: With consumers searching on social media to get acquainted with brands and companies, it is also increasingly important that you are actively managing your brand reputation in this space. Even if you’re not talking about your brand on social media, there’s a good chance that someone else is. Being present on social media allows you to be a part of the conversation – to tell your brand story your way, respond to inquiries or concerns and demonstrate your commitment to service to potential clients. It also allows you to actively manage, respond to and cultivate reviews in spaces like Facebook or the often overlooked Google Business Profile – an unsung powerhouse for local marketing.

As social media usage continues to grow and evolve, it becomes an ever more critical space for real estate and home sellers to implement a smart, strategic and consistent marketing program. Social media allows you to connect with your potential home buying audience in a real and meaningful way, paving the way for more confidence, more leads and more sales to follow!

Need help navigating the social media landscape? Connect with the Clementine bunch!

Or check out more marketing ideas for real estate success here.