Does Social Media Work to Generate Business? No, Say Australian Real Estate Agents

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Whilst a recent survey shows that Australian real estate agents have completely given up with Social Media, David Twigg of Brisbane based OMC says if they want to leverage social media they need a proper strategy.

Social media really requires a lot of time investment as well as a long game strategy that's why we focus on Google advertising which really works straight out of the gate and is scalable.

An article on Monday on the Australian real estate news site, PropertyObserver.com.au, talked about a recent survey by the Real Estate Institute of Victoria. The survey found that in 2011 most real estate agents were using social media especially Twitter and Facebook but in 2012 out of the 600 registered real estate agents only 3% said they were getting any value from social media.

Many real estate agents have now stopped updating social media accounts showing very busy postings up until this year yet dormant in recent times.

David Twigg of Online Marketing specialists OMC, based in Brisbane says, "Social media really requires a lot of time investment as well as a long-term game strategy. That's why we focus on Google advertising which really works straight out of the gate and is scalable. However, I think if I were a real estate agent selling in a tight community, I would actively try to get a good percentage of the community as my followers or get them to like the agency Facebook page. To do that I would probably set up a strategy of every open for inspection attendee being encouraged to follow me on Twitter or like me on Facebook at the viewings via an iPad onsite or through their iPhone. Also I would run regular incentivized operations to increase likes and follows. Then the issue is to make sure the flow of information is relevant to the local community. So, for example, what's on this weekend in my suburb or neighbouring suburbs or the city, interspersed with the latest house prices achieved in the community. If you are considering selling and you know an agent has just achieved xyz price nearby, that is a big lead conversion strategy. However you need to offer the other interesting flow of information to keep people on the end of your hook."

Another substantial drop in Facebook's share price this week of 11% bodes badly for the commercial appeal in general of Facebook. Ironically the forgotten social media website MySpace, which includes Justin Timberlake among its investors, has relaunched to great reviews.

The social media bandwagon continues to get mass usage but monetizing the platforms seems to be lacking, David Twigg says. "The problem is, if Google didn't exist and hadn't developed their platform to be so business friendly, Facebook and Twitter would have more traction. The interuptive nature of social media advertising as opposed to the Google Adwords platform which offers information and advertising in complete harmony means it will always be behind the ball. Adwords is really a no-brainer when setup and run effectively but very few advertisers have mastered the commercial leveraging of social media."

An analysis of the display advertising market last week showed that Google was now asserting dominance in Facebook's main revenue stream. Google is projected to have a 21.2% market share by 2014 compared to Facebook's 15.5%.

ABOUT OMC
OMC based in Brisbane create lead generation systems for their clients that produce consistent flows of sales enquiries. To watch a video talking about their 8 lead generation step process click here.

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Michael Osbourne
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