Social media: Real estate’s elusive missing link

Posted by on June 12th, 2018

The future of housing always rests with the younger generations, and in 2018, that means it’s in the hands of Millennials – literally.

Like all of today’s successful businesses, you have to enable prospects and clients to access all the information they need from their mobile devices.

The power of social media is real estate’s elusive missing link. If you want to get the attention of Millennials, you’ll need to harness its power.

For many, social media has devolved into a forum to post links in hopes thousands will  share them with their followers.

That’s the easy way out, but it won’t set you apart from the competition. Social media channels have underscored that by updating content-ranking policies.

Facebook’s algorithm now penalizes link-based content, and Instagram has made link-sharing all-but-impossible.

So what’s your social media alternative? Step one: Put yourself out there. Build your brand by adding your perspective, your thoughts and your philosophy.

Step two: Engage. Today’s social media secret is in listening and responding – it’s supposed to be social.

Think you lack the time? To maximize engagement, harness the power of virtual customer service agents known as chatbots. Fielding the most common questions, chatbots free up human time to for more complex issues, like hands-on, one-on-one customer service.

The top task of housing industry social media should be providing information, especially on the wide array of financing options. The key is convincing Millennials that not only can they afford to buy – they can’t afford not to!

According to a joint report by RealtyTrac and Down Payment Resources, there are 2,290 down payment programs across the country, with an average amount of assistance per buyer of $11,565.

People younger than 35 have always been the most active group of first-time buyers, historically making up about 40 percent of total buyers. But today, that number is barely 34 percent. Perhaps not a jarring difference at first blush, but magnified over a huge country like the United States, is truly monumental.