Social media has become an essential tool for businesses looking to promote their products and services, including those in the real estate industry.
However, many real estate professionals have the misconception that running an ad on social media will automatically generate leads.
According to Nic Fren, CEO of Bespoke Media, this is not always the case, and real estate professionals must rethink their approach to social media advertising.
With the prevalence of social media marketing agencies promising quick results, such as 100 leads in 90 days or guaranteed seller leads, the attention has shifted from building brand awareness and engaging with the community to wanting immediate business growth.
"People's expectations on social media are different from other marketing channels," Mr Fren said. "While other channels like email or direct mail are more transactional, social media is more about building relationships and trust with your audience."
Mr Fren emphasizes that the purpose of social media for real estate professionals is to build a community, connect with potential clients, and engage with the local market.
"Audiences on social media are seeking entertainment and education, not just sales pitches," he added.
According to a survey conducted by Sprout Social, a leading social media management platform, 68% of people use social media to interact with friends and family, while 50% use it to stay up-to-date with news and current events. Only 14% of people use social media to find product information or to make a purchase.
The survey also found that people's expectations for brands on social media are higher than ever before. 81% of people expect brands to respond to their comments within 24 hours, and 71% expect brands to provide a seamless experience across all channels.
"Real estate professionals must understand that social media is a tool for building relationships and trust with their audience," Mr Fren said. "By providing valuable content and engaging with their community, they can establish themselves as thought leaders and trusted advisors in their industry."
To achieve long-term success in social media advertising, Mr Fren encourages real estate professionals to focus on community building and engagement. "By creating a genuine connection with their audience, they can establish a loyal following and generate more leads in the long run," he added.