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Socio-media impact on real estate

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When the agent sends through the property information to, he/she also includes the link to add more credibility, the agent also includes another hyper link connected to view for each property, allowing the client to take a virtual tour of the areas themselves.
After a lengthy (and free) chat discussing the pros and cons of each, the client chooses a property.. The agent then publicizes this information throughout his networks to find another client.
Since the agent has linked his Twitter account to automatically reflect status updates posted on LinkedIn and Facebook, the agent receives his next inquiry for one of the properties from a Twitter follower and starts the story all over again.
The above situation is a perfect example of what can happen if agents took social media seriously. However, there are very few agents out there who do. Sure, you see many agents advertising to follow them on the main social media outlets, but when you look at their Twitter or Facebook / LinkedIn accounts, what tends to be posted looks a lot like vanity pieces. I have seen posts from Japanese agents listing items from new hamburger restaurants in the area to photos of their latest skiing trip. In addition, the majority of blogs out there are not market-driven articles but read more like a personal diary.
Message to these agents; no one cares. If you ask agents who posted these kinds of messages, they say that it builds trust with clients; that clients will see the agent as a real person and therefore connect with them on a more human level.
However, when clients contact agents, trust isn’t built because they go skiing in the same places or eat at the same restaurants. Agents build trust by providing the client with what they came for in the first place – efficient and accurate service.
Agents often think of themselves as purveyors of special knowledge and to an extent they are, especially when it comes to the legalities of real estate. The advent of social media brings with it the power to bring agents and clients closer together in a more efficient manner. In India, now – a –days, in the business of real estate agencies, I have seen first hand the order come down from the top to all staff to create a Twitter account. Everyone in the company did what they were told. What they didn’t do was connect with other Twitter users outside of the company to build a follower base. Everyone within the company linked their accounts to each other, but not to people outside the company. A couple of days later, a similar order came down to create Facebook accounts. The results were the same. Within a week of implementation, all posting stopped as the staff couldn’t realize what impact social media had on their operations.
For real estate (and any other industry), social media outlets provide the seeds from which a very stable guerilla marketing campaign can be born. Posting links to fresh properties on your web site, posting links to market-related articles and writing blogs about the market are great ways to initiate dialogue with your clients. Now, more than any other time in the history of human communication, can one initiate dialogue with so many people at the same time. Take advantage of the opportunity while you can but make sure your content matches your corporate vision.
Sales of existing homes increased 7.7% to a rate of 5 million in August, up from 4.67 million in July. Sales were up 18.6% from August 2010. Obviously, this is a great sign. While many news reports early this week focused on the dismal housing starts numbers, existing home sales are a better indicator to watch because as long as there’s a glut of existing home inventory in many markets, starts will remain low. In other words, existing sales need to move first before any improvement in starts will take place.
Not much has changed, despite the positive growth in sales. Low rates, bargain prices and a healthy rental market continue to lure more investors and first-time buyers.

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