In the last few months I have been doing intense market research on real estate marketing and trends. Not that it should come as a surprise to anyone but, things are changing. Things are changing fast! Just look at the USA market and you will quickly see where we are headed – when times are tough the strong, the quick to adapt and the most innovative succeed.
There is a strong move to the internet in the USA, not only how the client uses it, but the way Realtors are (or in some cases not) using it! Just as the cell phone and email revolutionized the way Realtors did business, the internet is also changing the way business is conducted and won!
According to two different studies conducted in the USA, 80 to 95% of sellers and buyers are finding and researching their broker and agent on the internet before engaging their services. If your web page hasn’t been optimized and isn’t regularly updated, then this should scare you into action!
The move to Facebook pages and Twitter is growing, but experienced brokers are still ignoring it’s potential to drive both sales and client acquisition. Furthermore, Twitter searches conducted by home buyers or sellers is a growing practice and if you’re not monitoring your brand (or real estate in general) in this space, then you’re missing out!
Photo tours are still dominant in real estate, but a growing use of video to improve the client’s experience, the Realtor’s brand perception and the listing’s visibility is substantial. The move to video tours has increased by up to 96% from 2008, with the top reason being home sellers love not having to disrupt their lives for numerous showings. Further to this is the increase in search weight, caused by the rich media on the brokers’ site, while also providing a more engaging experience for home buyers. Video is being used as a marketing tool to elevate the agent or broker’s brand perception, in addition to providing property-specific details. A good example (if we do say ourselves) are the videos we did for Polycorp.
What does this all mean? Real estate brokers should be embracing the new tools available to them and encouraging agents to participate in social media. It’s no longer good enough to have a static brochure on the website. A broker’s site needs to be optimized for search, it should also be dynamic and engaging. Otherwise, the site simply gets lost in the search traffic maze. And the best part is: Search Engine Optimization (SEO) and most “social media” initiatives cost very little to implement and video content can be produced for as low as $50.
There are some pitfalls that real estate professionals need to keep in mind, however. Everything you put out there must relate back to your brand. Just like you would not send out a newsletter that was poorly written and badly laid out, the same holds true for your social media and video efforts. If you are setting up Facebook and Twitter accounts, they need to be branded and even more importantly, full of useful information for your clients that is updated regularly. With video tours, also keep in mind that you need to keep it branded. Think of video in the same way you would a brochure. It all reflects on “how the client will view doing business with you”. There is no shame in asking for help in these areas…your expertise is in the real estate business!
I can’t imagine a Realtor in this day and age saying they don’t have a cell phone, or email. It’s fundamental to the way business is done today. The same will be said about Facebook, Twitter, and websites with rich content in the next year or two! We have been working on a few innovative ideas for clients and how they can use Facebook, Twitter and video to increase sales, client appeal and branding. I would love to see some great examples of how others are also doing so, whether in real estate or not!
SW
Scott Westerlaken
Scott Westerlaken
With over 25 years of award winning experience in marketing, television commercials, film, video, communications, web, radio, print, and events, Scott has the ability to maintain focus on the big picture and offer a wide range of solutions appropriate to the clients message and budget. He has been recognized with dozens of awards in business, communications, and filmmaking from around the world. For the client, this means a truly unique balance of hands on technical knowledge and high level strategic experience that always leads to unique and creative solutions.