Social Media for Real Estate Agents

 

how to win

For real estate agents, social media can be a powerful lead source and channel for staying top of mind after the sale. The downsides – for a lot of agents social media can have little ROI and feel like a big time waster. So, if you’re wanting to grow your following, here’s your to-do list for being successful on social media.  

 

Make a Plan

If you want to get serious about driving leads on social media, create a clear plan of action for your social media strategy. First outline what your goals are and the initiatives you’ll use to get there. Create a content calendar for what you’ll post and use scheduling tools to schedule the dates and times that your posts will go out. This can help with time management and ensure that you post regularly to keep your followers engaged. While both Facebook and Twitter have their own scheduling tools, you can also use scheduling tools like Hootsuite and Buffer.  

 

Be Personal

Remember that social media is about being sociable. Use your bio to show your personality and highlight your expertise, infuse your posts with your style, and respond to questions & comments with a personal touch. Remember, your online and offline personality should be consistent.  

 

Integrate with Other Channels

To get the biggest return from your social media efforts, your social media strategies should integrate with your other marketing channels. First, keep consistent branding between channels. This includes your images, value prop and branding. Make sure to include links to your social media channels on your website, email signature, newsletters & print advertising to grow your following and have more touch points with clients.  

 

Help First, Sell Later

Social media is not the place for the hard sell. Instead, it’s the place for generating leads, engaging with potentials and keeping in touch with past clients. Keeping this in mind, don’t just post about your upcoming open house or the deal you just closed. Also offer advice for both your potentials and past clients – articles could include home selling tips, steps to secure a mortgage, checklists for first-time buyers, home maintenance advice, and decorating ideas for holidays. Make sure to always answers questions posted by your followers – this shows that you’re genuine.  

 

Use Great Visuals

A picture is worth a thousands words, and on social media this definitely rings true. On Twitter, posts with an image receive 35% more retweets. Facebook posts with images receive more than twice as many comments than those without. As a real estate agent, you should also consider using Instragram and Pinterest – these visual sites are great for showcasing your listings or showing the homes you’ve helped your clients purchase. Remember that each social media site has their own image guidelines – check out this great cheat sheet on images requirements.  

 

Expand Your Reach

When you feel comfortable with your social media strategy, make sure to experiment with promoted advertising on social media. Ads on Facebook have much lower CPM and CPCs than Google AdWords, so they’re a great option for online marketing on a budget. Targeting options on Facebook allow you to promote your posts based on geographic and demographic data. For example, if you largely work with first-time buyers you could use Facebook to target married couples, between 25-35 in specific zip codes.  

 

Measure Success

Evaluate your social media efforts and results to determine what works for you. Track post likes, comments and shares to see what your following is most interested in – then tailor your content accordingly. Make sure you’re also tracking your lead sources and conversion rates to determine your ROI – most CRMs should have this functionality and you can also setup conversion tracking in Google Analytics.

 

At the end of the day, remember that social media is long term strategy – so don’t be discouraged when it takes time to build your following. Be consistent with your efforts, refine your strategy and measure your growth.

Lead Generation for Real Estate Agents

real estate agentReal estate agents are constantly inundated with new marketing ideas to grow their client list. With so many options available – from print, to portals, to social media –  agents are left to question what the best strategy really is. Despite all of the new marketing and advertising channels, an agent’s sphere of influence is still the best source for high quality leads. So if you’re wanting to grow your client list but not sure where to start, here’s our list of 10 stats that prove why you should be marketing to your sphere of influence to drive repeat business and referrals 

  1. Recommendations from friends and family are the most trusted form of advertising.
  2. Clients are 4X more likely to close when referred by a family member or friend. 
  3. When choosing a real estate agent, the most important characteristics cited are honesty and trustworthiness. 
  4. 42% of home buyers found their real estate agent from a referral by a friend or family member. 12% had used the agent previously.  
  5. 86% of home sellers say they’d recommend their real estate agent or use their agent again. 
  6. 88% of home buyers say that they’d recommend their real estate agent and use their agent again.
  7. 21% of an agent’s business comes from repeat clients.
  8. For real estate agents working more than 16 years, repeat clients account for 40% of their business and referrals account for 21% of their business.
  9. In a study of real estate executives, 100% of those interviewed agreed that an agent’s sphere of influence has reasonable or exceptional value as a lead source.
  10. An agent’s sphere of influence has been found to be the most valued lead source.

  So if you’re considering a new real estate marketing initiative, focus first on your existing client base. Stay in touch, keep top of mind and ask for referrals!

How to Drive Referrals & Repeat Business


Welcome to my pubDeveloping & nurturing leads are key skills for any real estate agent. But, the truth is that the majority of an agent’s leads come from their existing client base – 42% of home buyers find their agent based on a referral from a friend or family member and 12% used the agent previously.

 

Agents that can capitalize on their current client base reap the benefits. First, they’re able to scale marketing efforts quickly and can reduce time & money spent on advertising. They also have better conversion rates since referred clients are less likely to shop around for an agent. However, growing referrals and repeat business doesn’t happen automatically. So, if you’re wanting to spend less time cold calling, here’s our top tips for driving leads from your current client base.

 

1. Thank Clients Personally

After you finish working with a client, whether the deal was successful or not, thank them and let them know you appreciate their business. If the deal was successful, send a personalized letter and closing gift – like a gift certificate to a local restaurant near their new home.

 

2. Stay in Touch with Newsletters

Stay top of mind after deals have closed with regular communication. Remember, you shouldn’t be selling new homes to clients that have recently purchased. Instead offer home maintenance advice, news about local events & attractions, or details about the local real estate market – it’s reassuring for recent buyers to hear that their purchase was a sound financial decision.

 

3. Check In

If you want past clients to refer you to their friends and family, personally check-in with them after the deal has closed. Keep in touch around move-in day, anniversaries of their home purchase/sale and holidays. Sending a card for the anniversary of their closing shows you’re invested in each client and were attentive when you worked together.

 

4. Connect on Social Media

Your social media presence is great for staying in touch with past clients. To save time, schedule posts for the upcoming week during a slow morning – this way you won’t feel so overwhelmed with social.

 

5. Make Referrals Easy

As great of an agent as you are, referrals won’t just automatically roll in. Despite 83% of past clients stating that they’re willing to make a referral only 29% actually follow through. Remind past clients in your digital and print communications that you appreciate referrals. Then, make it simple for them to send a referral by adding referral forms to your website and Facebook page.

 

How do you win repeat business and referrals???

Referrals Found to Be the Most Valued Lead Source for Real Estate Agents

business deal shaking handsJohn Wanamaker famously said “I know half my advertising dollars are wasted… I just don’t know which half.”  Now, even though Wanamaker lived over 100 years ago, the same saying still runs true for real estate agents today.

A recent study published on Inman News showed that many real estate executives see little to no value in the marketing channels agents use. Executives were asked to rate the quality or ROI of lead sources. The executives interviewed were all leaders of real estate firms that accounted for ⅓ of home sales participating.

The results of the study were pretty blaring, showing that by far the best lead source is an agent’s Sphere of Influence. 86% of those interviewed said that referrals from agents’ Sphere of Influence had exceptional value, whereas less than 10% agreed that MLS/Associations, Zillow, Realtor.com and Trulia had exceptional value. Worse yet, more than 50% said  that MLS/Associations, Realtor.com, Trulia and Homes.com had little to no value.

 

 

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What’s even more surprising is that these executives were only asked to rate lead sources that their agents use! So, the over 50% of executives that said MLS/Associations, Realtor.com Trulia and Homes.com had little to no value are spending time and money using these sources to generate leads.

Looking at the results, it seems obvious that real estate agents should be spending more effort growing their Sphere of Influence and engaging with these referral sources instead of spending money on third-party websites. An agent’s contacts can send qualified leads that know how great the agent is and are ready to buy or sell, whereas third-party sites may be sending you the data on people that were curious about how much their co-worker spent or already have a real estate agent.

So, if you’re ready to start spending more time on referral leads and less on third-party sites, it might be time to shift your marketing efforts. To grow and engage your network, you can:

  • Participate in community associations
  • Network with other business professionals – like mortgage brokers and lenders
  • Send email newsletters to past clients with home advice and info on community events
  • Develop an editorial schedule for your blog and social media – remember that it isn’t just about selling!
  • Send personalized holiday cards or notes to past clients

If you’re sick of spending money and time on marketing efforts that don’t seem very valuable, maybe it’s time to start leverage your Sphere of Influence. How do you engage with your past clients?