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Step 5: Your Social Network is Still Your #1 Profit Center

July 13 2010

istocksocialmedia

In an effort to empower real estate agents to convert online listings to leads, REALTOR.com published the 6-Step Online Optimization Plan 6-Step Online Optimization Plan. This report covers the following topics:

  • Intro: Get more buyer leads from your online listings
  • Step 1: Generate more buyer leads with photos
  • Step 2: Get more calls with Persuasive Property Prose
  • Step 3: Capture more buyers with full-motion home tour videos
  • Step 4: Getting online home buyers to your Open House
  • Step 5: Your social network is still your #1 profit center
  • Step 6: Increase exposure, increase buyer inquiries

Following step four of this report, step five brings the discussion back to the real estate agent's powerhouse: social media.  This is still the number one profit center for real estate professionals!  Free online social networks are revolutionalizing the real estate industry

The latest NAR consumer study reveals that 53% of transactions are conducted through social networks.  More than half of real estate purchases are through someone who knew the REALTOR® or through a referral. Now that these social networks are expanding from clubs, political organizations, and school activities to online social networks, you and your listings need to be there as well!

Why are online social networks crucial to your business?

  • 87% of consumers start their home search on the internet. (National Association of REALTORS®, Profile of Home Buyers and Sellers, 2008).
  • 147 million Americans are active on social networking sites. (comScore December 2008: Top U.S. Online Video Properties by Videos Viewed).
  • Nearly half of those users are active on Facebook®, the #1 social networking site. (comScore Facebook® stats, June 2009).
  • Facebook® has the highest average time spent using per visitor at 3 hours and 10 minutes. (comScore Facebook® stats, June 2009).

Tips for promoting your listings to social networks:

  1. Set up an account on free sites such as Facebook® and LinkedIn and don’t forget to remain active with it. As the old saying goes, out of sight, out of mind.
  2. Log-in a few times a week to check in on folks. Staying active is important as you never know when someone in your network is thinking of real estate or someone might refer someone to you.
  3. Provide up to date information about market conditions and things of value about the local community and stay in-touch with your network just as you would a friend with personal notes.
  4. Never spam your network with listings: one of the biggest mistake agents make is promoting their listings on their profile wall everyday so that their listings appear to their entire network in the area where comments appear. For the majority of your network who are not currently active in real estate, this can be an annoyance.
  5. Simply post a link to your listings on your profile in a way that does not spam your network. REALTOR.com® now offers a free Facebook® application that will promote your entire listing inventory in an unobtrusive manner.

To learn more about REALTOR.com®, please click here.

Your 6-Step Online Listing Optimization Plan includes how to:

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