While the pandemic is causing severe economic impact, the real estate industry is still thriving in many markets, with real estate prices are skyrocketing in the second quarter of 2021. This, in turn, led to increased competition within the sector, and more 3 million licensed real estate agents in the United States alone, the race for excellence is incredibly fierce.
Agents need to find an edge where possible to maximize their productivity, and many believe that this is an effective use of social media. can give them a boost, and improve their communication with both buyers and sellers.
Indeed, in July 2021, the Real Estate Publishing House The Close conducted a survey of 135 real estate specialistsand the results show that the majority (60%) of agents now believe that social media is even more important than their own website for their marketing and communication efforts.
Of course, social platforms can contribute to more reach than a single brand’s website, so the find here is not a complete surprise. But it does suggest that real estate professionals should take social media marketing more seriously and pay more attention to social promotions and connections where possible.
Which, given the following statistics, indicates a significant gap in the current market.
While most agents recognize the importance of social media in their process, many still lack the confidence and skills to maximize this potential, with only 35% of agents confident in their online marketing skills.
Keeping up with social media trends can often be a daunting task for agents who carry out all of their day to day tasks with constant platform updates, algorithm changes, and brand-new apps that keep things complicated.
Thus, understanding best practices is an ever-evolving process. Some agents have sought to meet this need through industry e-books and explanations… But, as the numbers show, this remains one of the main problems.
The study also suggests that video can be a key way to differentiate agents: 79% of respondents said agents who use video on social media have a greater impact than those who don’t.
Many savvy agents use video marketing, and Instagram recently pointed out that this is expands its focus to include more video content, which once again underlines the need to align with them and take advantage of the latest usage trends.
In addition to this, 73% of sellers tell them they are more likely to contact the agent who is using the video.
Real estate agents are finding more ways to leverage trending video content with neighborhood reviews and other informative elements in addition to traditional property and brand asset surveys.
Some are even now using new platforms like TikTok and Instagram Reels for their real estate marketing.
Highlighting on social media is a top priority for agents because it helps them achieve their primary goal of attracting new customers. 64% of agents say they will get more social media customers in 2021 than in 2020. This figure is especially impressive given that many of them don’t feel too proficient in online marketing.
This statistic explains why the majority (60%) also stated that social media is more important to agents than their website for their marketing.
The data is clear: Real estate agents looking to maximize their potential in 2021 need to use social media as a vehicle to spread their brand awareness and ads, and create relevant connections with their audience. Video is the key choice. The ability to learn more about a property from the comfort of your couch is a key benefit that social platforms can provide, and getting to know this audience where they already spend their time can also be a key factor in inspiration and motivation. more leads.
Will agents end 2021 with a lot more confidence in their online marketing skills? Given the importance of social media in attracting new customers, ambitious agents will turn into competent online marketers.