Find Your New Home on Facebook… Yes, I Said Facebook!!

In this age of social media where you can find anything and everything by going to Facebook, Instagram, Twitter or even Pinterest, one shouldn’t be surprised that you can even search for, view, and find your new home on said platforms. Gone are the days of driving house to house with your realtor to find the home of your dreams. You have access to a 360 view of properties, and the neighborhoods while sitting on your couch. Though this is not a new phenomenon, but it came to my attention when I began looking for a new home. According to Srivatsaa (2016), social media has maximized real estate agents’ ability to provide their clients with the most up to date and constant information regarding available properties. Many agents and agencies have accounts on Facebook, Instagram, Snapchat and Twitter to remain connected (Srivatsaa, 2016).

In 2013, nearly 80% of real estate agents used social media as a sales tool, and 40% of them indicated that they closed, on average, two to five deals based on social media marketing (Doran, 2013). In 2016, that number has risen to 90% of real estate agents using social media to some extent (Cavano, 2016). In addition, more than 75% of home buyers used social media during their search for a home (Henry, 2015). On average, 44% used social media to gather information about specific neighborhoods, and 42% used social media to view their agents Facebook page (Henry, 2015).

Though Facebook appears to be the top social media platform that real estate agents and homebuyers gravitate to, Snapchat and Twitter are also their go to platforms (Srivatsaa, 2016). On Twitter, one can follow a real estate agent of their choice to view the homes they are selling and promoting. This practice is known as “Tweal Estate.” With Snapchat becoming the platform of choice for the the Millennial generation, realtors are building their brand through the use of Snapchat stories, to promote themselves as well as the properties they are selling (Srivatsaa, 2016).facebook-updated800

That being said, I am still on the hunt and after reading these articles, I will be utilizing social media more than I was when I began my search.

Have any of you used social media in your home buying ventures? If so, how did you use it? And did it help in your selection?

 

 

References:

Cavano, K. (2016, January 8). Real Estate Statistics for 2016. Retrieved from

http://blog.contactually.com/2016/01/real-estate-statistics-for-2016/

Doran, J. (2013, July 11). Four Ways to Reach Home Buyers Using Social Media.

Retrieved from http://realtytimes.com/agentnews/technologyadvice1/item/ 142-20130712_usingsocialmedia

Consumer and Market Trends in Real Estate – realtor.org. (2013, January). Retrieved from http://www.realtor.org/sites/default/files/Study-Digital-House-Hunt- 2013-01_1.pdf

Henry, C. (2015, September 17). Home Buying Process Involves Greater Technology,

Realtor® Use. Retrieved from http://www.realtor.org/news-releases/2015/09/ home-buying-process-involves-greater-technology-realtor-use

Srivatsaa, S. (2016, August). Using Social Media to Sell More Homes Faster. Retrieved from http://realtormag.realtor.org/for-brokers/network/article/2016/08/using-social-media-sell-more-homes-faster

Vaynerchuk, G. (2013). Jab, jab, jab, right hook: How to tell your story in a noisy, social world. New York: Harper Collins.

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5 Responses to Find Your New Home on Facebook… Yes, I Said Facebook!!

  1. Sarah Price says:

    Hi Larissa, what an interesting topic! I have a friend who is a real estate agent and I see her posting listings on Facebook all the time. Facebook seems like a great channel to build awareness for people who aren’t actively looking. For example, Facebook ads are how I became aware of this program. But I’m surprised that Facebook would be a good channel for converting sales. Buying a house is a major decision and serious endeavor for most people. I wouldn’t dream of stumbling onto a listing on Facebook, saying “why not?” and taking the plunge. But for people who are looking casually, and building long-term relationships with realtors, it makes sense. Thanks for sharing.

  2. Dawn says:

    Hi Larissa,

    Very interesting post. It goes to show how dominant Facebook and other social media platforms are. Your example goes to show how important it is for marketers to respect social channels and invest the time to develop strong social strategies. I’ve never used social media to buy a home, but I’d use it if it made my search easier and more effective.

  3. Allison says:

    Hi Larissa,
    Your title drew me in, so it worked! In the past, I owned a condo, so this topic is of interest to me. I did look at specs on Zillow when I was house hunting, a website that has a vast listing of real estate properties that one can rent or purchase, but Facebook was just starting during that time, and I hadn’t joined it yet. Advertising on Facebook is a must for any brand, and real estate is no different. It would seem that viewing these homes at first on this platform would be very helpful in the first round of eliminations. However, with my experience of being a homeowner, I would stress the importance of seeing the houses in person. On the other hand, it would probably broaden the options that are available to viewing.
    I wonder if buyers and sellers will try to negotiate the prices via instant message? I also wonder if the need for real estate agents will diminish since homes can be marketed to buyers easily. Many people may be skeptical about purchasing a home without an agent, but the escrow company provides the service to ensure that the transaction is legal and the transfer of funds is completed. Social media truly shifts the power to the everyday person by allowing freedom to share across their connections.
    Thanks,
    Allison

  4. Elysha says:

    Larissa,

    Social media has definitely become the wave of the future for real estate advertising. My mom is an agent in Texas and it took me a while to convince her that her Target first time home buyer in not looking the newspaper. I’ve seen lots of local agents use Facebook to promote listings, to market open houses and to notify other agents and the public about price drops and additional incentives. It’s brilliant and so cost-effective as a method of reaching prospective buyers and sellers.

    Elysha

  5. Abiola says:

    Hi Larissa,

    I agree with about Social media taking over every aspect of our life. it was long ago that I was looking to buy a property, and even though Facebook had already gained the prominence it presently has, Realtors hadn’t harnessed it as they have today.
    I remember having a discussion with my Realtor about how Facebook is a platform he should take advantage of.
    I think its a good development. Though the home buyer, would eventually leave his couch, but when he does, he, at least, knows that it is for a property that potentially has what he’s looking for.