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Social Media & Real Estate’s Love-Hate Relationship

#realestate + #sociamedia = the most misunderstood relationship everrrr. Most agents don’t entirely know WHY they do social, just that others do it.

In the spirit of providing some light weekend reading, here are some real estate social media stats (from the USA) from The Close which I thought were pretty interesting…

These are percentages of estate agents using the following social media channels for business purposes:

👉 72% use Facebook
👉 52% use LinkedIn
👉 53% use Instagram

…and (in the US) only 24% of agents use YouTube to promote their business.

More than 30% of agents report closing at least one transaction a year as a direct result of their use of social media.

But as my German pal and always the voice of reason, Stefan Knöbel bossman at ADS Marketing & Consulting in #Marbella rightly says “in other words 70% don’t close any deal from social media activities.”

This makes me think, that maybe there’s the very essence of the issue with this turbulent relationship: there is a lack of clarity from everyone (myself included) as to WHY we are doing each activity and WHAT we should expect to get out of it.

Let me explain… should all social in all channels be a form of generating direct business? Is it brand awareness? Is it demand gen? Is it providing value to your audience? Is it assumed the audience are potential buyers? Or maybe they are existing buyers? Maybe it’s to attract sellers. Maybe it’s to build your network of collaborators. Can you measure its success in likes and audience size? or should it be leads? Are most agents just focusing on vanity metrics?

in my view, the answer is “it depends”. which is not a sexy answer, and I think there lies the issue… we all want simple answers to simple questions, but maybe we need to change how we frame the question…

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