When real estate giant Raine & Horne elevated its social media advertising using a third party platform to attract active and passive buyers, it was big news. It begged the question of whether an expensive social media advertising for real estate platform is necessary.
This approach is becoming common practice for the large franchised offices across Australia. In fact we wrote for REB in November 2017. You don’t need a $1m tech budget to succeed in the new world of real estate.
Over 80% of your homebuyers are using social media for research yet 74% of real estate agents admit they don’t have the knowledge or the time to properly invest in it. Download your free step by step Social Media guide.
Managing social media advertising for real estate
Platforms for social media advertising for real estate like the ones Raine & Horne implemented use the same demographics, behaviours and contact information that is available to any person via their Business Facebook Page.
Consequently the platforms that Raine and Horne implemented make this advertising process a little more fool-proof … but come at a cost. They are expensive.
Knowing who to target and how
Like any form of traditional or digital marketing, tailoring your message to your audience is key.
Below is an example of a client who took to experimenting with social media advertising. Before involving us, this experiment wasted precious time and thousands of dollars in Facebook advertising. Had they been more selective with their target audience they may have received a better return on investment.
Targeting Facebook ads to anyone
- over the age of 18
- who has ever been in Australia
isn’t an effective strategy for leading Eastern Suburbs Real Estate Agency.
In conclusion, we applaud the large franchised offices for implementing these real estate social media marketing tools. However if you do not have those tools and platforms to your avail, do not be disheartened. The same result can be achieved with the right knowledge and know-how.