Rewind
My how the real estate world has changed. Back in the 1950’s, the real estate market boomed as soldiers returned home from World War II and wanted to settle down with their families. Back then, business was done so differently. Typically, a group of realtors would meet in the morning to share any new listings then, and then drive there to see the property in person. A new listing required a one page form that was then distributed to the other real estate agents. Secretaries would take care of any typing or copying. Advertising was a cinch. All it took was a couple of handwritten ads to be sent off to the newspaper.
After that, the realtors would spend their time canvassing neighborhoods, knocking on doors, and handing out business cards. A time when most women were home during the day and doors were almost always answered. Not everyone had phones, or even cars, so a major source of business was walk-in traffic. People would stop by the office just as they would the grocery store or the bank. Selling a property required a one page contract that was completed by the realtor and then handed off to the secretary to process. Let me say it again, my how things have changed.
Click here to learn more about the history of real estate agents.
Fast Forward
With the insurgence of computers, the rise of the internet, and the current wave of social media, real estate and the process of buying and selling homes is very different today. Sitting in an office and knocking on doors doesn’t cut it anymore.
66% of first time home buyers are millennials, a generation that has grown up with technology at their fingertips. 95% of which claim to follow brands through social media. 70% of Baby Boomers are on YouTube and 68% are on Facebook. No matter which demographic you’re trying to reach, the bulk of a real estate agency’s advertising must be done online in conjunction with social media platforms to keep up with the times.
Newspapers are no longer home to real estate listings. You can click here to view our listings on our website.
Facebook is currently the hottest social media platform for real estate as 77% of real estate agencies are advertising on Facebook. What makes Facebook so effective? Businesses are able to target audiences with ads, publish listings, schedule appointments, post photos and videos, communicate with customers, and share contact information all in one place. Facebook ads allow you to directly target consumers that have shown specific interest in buying a property in your area. Not only that, the analytics features help you know who is seeing your content, which type of posts are engaging, and even what times of day are the best to post. We’ve come a long way from 3 rotating ads in the newspaper.
Instagram has taken off and is the fastest growing social media platform. Although you might assume Instagram would only reach the Millennial generation, 23% of Baby Boomers and 46% of Gen Xers are also on Instagram. Real estate content is especially perfect for Instagram’s style with gorgeous photos, home decorating tips, and virtual tours. You can boost engagement with your content by experimenting with hashtags, captions, and photography styles. One source says advertisers see four times as much engagement on Instagram than Facebook.
If you are a real estate agent looking to network with fellow realtors or a working professional seeking new opportunities, LinkedIn is the right platform for you. LinkedIn allows you to converse through private messaging or promote your business publicly on your feed. This is a great place to show off your credentials, especially if you’re hoping to keep your career options open.
The bottom line is that the real estate world has been flipped upside down in the last 50+ years. From newspapers to social media, from knocking on doors to surfing the Web, real estate agents have changed the way they do business. They’ve adapted to keep up with this busy, highly-systemized culture. I wonder what new trick they’ll have next?