SAN FRANCISCO — If there is one social network that real estate professionals cannot afford to ignore, it’s Facebook. The site announced it had reached 500 million users last month.

That’s "8 billion minutes spent on Facebook each month," said Derek Overbey of real estate search company Roost Inc.

Overbey was part of a panel during a social media presentation at Inman News’ Agent Reboot event Monday.

Facebook has introduced fairly recent changes in which a former "fan" page has now become a Facebook business page that users can "like" instead of "fan." If users "like" a page, they’ll see that page’s status updates show up on their news feed.

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