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Are Agents and Brokers Doing Enough Social Media Marketing?

May 27 2014

Something stunning happens when you look beyond your own reports and look industry wide. You are able to visualize trends that are impacting business effectiveness in real estate.

WAV Group looked at the behavior of 4 million consumers who access broker websites of all sizes to drive strategic, online business intelligence. It was the second time that WAV Group performed this type of research and we pulled the data from access provided to brokers' Google Analytics. Take a close look at how much listing syndication and social media have grown.

wav cityblast

If you'd like to find out some easy ways to maximize the business you generate from social media, register HERE for a free webinar that I will be moderating today (5/28) at 1pm ET/10am PT.

Growing, High Quality Social Media Traffic

The reality is that brokers are getting a lot of traffic from social media sites and they are doing so without much effort. Today, about 5% of broker traffic comes from social media. It is interesting to note that social media generated traffic is much higher than search engine optimization. Moreover, the traffic from social media is high quality traffic – the bounce rates are lower and the number of page views per visit are much higher.

Uncommonly known is that Pinterest is the second most successful website at driving traffic to broker websites. If WAV Group were to run a formal opinion poll, I suspect that most brokers would think that Twitter would follow behind Facebook. In fact, I would suspect that many brokers do not know about Pinterest at all. Pinterest is a social bookmarking website for photos. Listing photos make great Pinterest posts and consumers love to visit the broker site look at more home photos.

Zillow Diggs does about the same thing, but has a more obvious real estate theme – helping people to plan home and landscape remodels by collecting real estate images into design folders.

Social Media Gets TONS of Listing Exposure

We all know that real estate is local. Social media is very local and targeted, too. That's why it looks like it's one of the best places to promote your listings. I just saw a demo of an amazing new social media marketing platform called CityBlast that blew me away. On average, listings on their platform are getting about 135 click-thrus per month. That means 135 people that saw the listing on Facebook, LinkedIn or Twitter are clicking through to look at the details of the listing.

In comparison, many third party sites are bringing much less exposure than that to a listing unless promotional programs are purchased by the listing agent.

Social Media Made Easy

Many agents have rough sketches of a social media plan, but only a few are maximizing this opportunity. Don't feel like you are too far behind. Social media marketing did not exist five years ago. Trends take years to develop and strategies to take advantage of trends take even longer to perfect. Many would argue that listing syndication is still far from perfect, but it is getting there.

Clearly, there will be some rough starts to social media marketing, too. But the time to get started is now. Social media marketing is much smaller than listing syndication, but it offers a much higher quality of traffic and lead generation.