Many real estate investors often consider the meaning of social media and ask themselves, “How can it help me?”
Social media is like “word of mouth” on steroids. It helps build relationships between the consumer and the product or service. In the case of the real estate investor, these consumers can be prospective tenants, buyers or sellers. Social media is not selling, it’s not SPAMMING, and it’s gaining the trust and respect that you need to keep clients coming back. Social media is a two-way conversation. Social media helps your clients find you in many ways.
Social media is made up of various platforms, i.e., Facebook, Twitter, blogs and videos, to post information and get feedback or questions from prospective or current clients.
If you put content out on the internet and allow the viewer to communicate with you, then that is social media.
Social media can be understood by first viewing how consumers used to do business. I call this “What is old is new again.” Back in the 60′s, dad took you to Bob’s Dealership to purchase your first car. You might have asked, “Why do we have to go to Bob’s? Why can’t we go to Fred’s?” The answer was usually, “Because I bought my car there and grandpa did, too, so you can’t go wrong with Bob.” The trust was established; therefore you went to Bob’s dealership and not Fred’s. More than likely dear old dad played poker with Bob and participated in the same community events.
How does that relate today?
How does this scenario relate to today’s environment? In today’s world, the internet is allowing customers to regain that same sense of relationship, word of mouth, and building trust. More than ever, consumers are connected to the technologically changing world. Many new phones are integrated with social media applications. By using social media marketing, you can effectively target this audience in real-time 24 hours a day.
Business owners may ask why they should be concerned with social media. First, no matter what industry you are in, you have to compete online for your consumer. Social media allows you to build a relationship with either an existing client or a prospect. When the the time is right, your business will be the first one the client seeks because you have established and built a trusting relationship.
Social media can provide your business with many tools:
* Building your reputation
* Getting more website views and phone calls
* Reputation management
* Customer service
Real estate investors are taking advantage of social media in a variety of ways. One way is through the publication of a blog. A blog is an online journal where people can post journal entries and allow readers to provide feedback on the content. Some jokingly say that BLOG is an acronym for “Better Listings On Google.” Blogs are used by real estate agents to build credibility. Generation X and Y members provide a great market for first time homeowners or renters. They seek out blogs for information and feel more at ease placing a question on a blog rather than dialing the phone to ask. They view this as using time wisely.
Another great result from blogs are that Google notices your blog. By frequently updating the blog, search engines induce that the site is authoritative, resulting in higher search-engine rankings. Using popular search keywords (words you put in Google to find what you are looking for) in blog posts also can strengthen results.
One way a real estate investor uses his blog to increase traffic is to give tips on what to look for when purchasing or selling a home. Another real estate investor, Colman Grant of Colorado, posted valuable suggestions to homeowners on how protect themselves when hiring contractors to renovate their homes. Because he does this quite often, he is viewed as an expert. Even though he didn’t get a customer from posting the suggestions, an interested investor did contact him as a result.
Facebook has been used by many real estate brokers as one their marketing tools. As many of them connect with classmates from high school and/or college, the past friends learn that they are in the real estate business and begin to use them as their trusted real estate broker. Then the word begins to spread.
An example of a realtor using Facebook would be Amy Hale of Seattle, Washington. She used this method and gained three clients in one day. Amy had connected to her classmates from Southwestern University (Texas) and Flour Bluff High School. While connecting with old friends, she had posted an open house on her status and a friend of hers happened to move to a town near the open house. Her friend didn’t buy that house but wanted her to sell her house. She did a great job and Amy ended up finding a house for her friend’s sister and best friend. This is just one example of many.
There are many strategies out there to discover; you have to be willing to find the right one that fits your market. Over time your method may have to change as all industries learn to adapt their methods.
Social media allows you and the consumer to communicate in a safe and open atmosphere. By doing so, you will establish a relationship that will last through ups and downs.
Want to find out more about using Social Media, then visit Social Media Platform’s site on how to choose the best services for your needs.
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