Social Influence in Real Estate – You Simply Can’t Ignore It

We have all heard it before: “You need to use social media.” Social media remains a hot topic in the real estate world - but it is surprising to learn that many real estate professionals remain incredibly hesitant when it comes to adopting the social media practices that have come to be common place in many other industries.

So why the hesitation? It is the same reason others don’t make use of this free and diverse tool - they still don’t see the ROI of social media and social influence.

If you are one of the many still refusing to jump on the social influence bandwagon, we won’t sugar coat it - you are missing out!! Big time! Social and mobile apps are vital to your business.

That statement not enough? Of course it isn’t. Don’t worry, here are some stats to chew on they may just be the numbers you need to see to change your mind.

-       84% of real estate sales professionals are using social media, but only a small number make use of more than just the top 3 sites (Facebook, Twitter and LinkedIn).

-       Only 12% are taking advantage of YouTube - but over 70% of homeowners say they are more likely to list with a real estate professional who offers video listings! That is a very small segment of the real estate pool.

-       Those using YouTube are far more likely to be high income earners (82%) versus middle income earners (67%).

-       More followers and friends = higher income: 1/3 high income earners have >1000 friends, whereas 2/3 middle income earners have <500.

Keep in mind that, if you are using social media, just having a Facebook page or a Twitter account is not enough - you need to be posting on a regular basis, engaging customers and proving them with information that is of value - otherwise you are missing the opportunities inherent in this marketing medium.

And social influence ROI isn’t just about the numbers. 10 years ago, people got their information largely from the phone book. In 2015, the phonebook has become almost obsolete, the majority of buyers and sellers finding real estate sales professionals online. And social influence has far more power than it used to. Advocates of your brand, those who speak to your reputation or post positive reviews about your service, have a far greater reach than the phonebook.

Anything that is real estate specific that promotes listings and connects colleagues and customers should be considered. Those apps that couple real estate tools with social networking are a major player on the field, thanks to both their accessibility and their convenience. Apps such as ViMO from Teranet, your virtual mobile office, can help you start and stay connected.

Don’t continue to discount the value of social media. The longer you wait, the longer it will take to become established. Check out everything social media has to offer. ViMO is a great place to start - we make it easy. Call us today at 1 855 999 8466 (VIMO).