Social media sites don't sell real estate
Realtor Notebook
By Teresa Boardman, Thursday, April 9, 2009.
Flickr image by Photos o' Randomness.People need to know that social media sites don't sell real estate before they get overly excited and start setting up profiles on Facebook and LinkedIn, and open accounts on Flickr, join Twitter and start a blog.
None of those services sell real estate. It is really too bad because so many good agents are spending their time on the Internet these days. I can give examples of how all of these nifty Web 2.0 sites have failed me. Recently I had a prospective buyer -- we will call her "Mary" -- who had been lurking on my blog. She contacted me one day and told me that she really wants to buy a house.
I have been showing Mary houses for six weeks. I think I have been showing her 10 to 11 houses each week. Mary seems to have developed a severe case of analysis paralysis and at this point I am not all that sure that she is homeowner material.
I have not made a dime working with Mary but she is doing a wonderful job wearing me out and I am becoming more familiar with the housing stock in one St. Paul neighborhood.
Last year I worked with a young man who lives in Texas. We have never met in person but he found me through my blog and asked me to list his condo. I put the condo on the market but from day one there were problems. He had some renters in the unit with below-average housekeeping skills.
Getting pictures of the unit was a challenge, and then there was the issue of the very large dog that had to be removed from the unit each time there was a showing. If the renters were at work and could not go home and get the dog, they refused the showing.
The unit was on the market for two months before the seller and I both decided that it wasn't going to work out. I spent some money on marketing and did all the extra work that needs to be done when working with an out-of-town seller but I didn't have anything to show for my hard work. ...CONTINUED
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Submitted by Barrett Powell on April 9, 2009 - 10:08am.
You bring up some very valid points. Points which I myself have also questioned. Coming from within the Internet world prior to my real-estate carreer, I had these same questions with regard to many of the Dot.Coms back before the bust. Where was the business model. In fact, I'm asking myself that question right now about Twitter...where's the business model?
That said, I think real-estate and our useage of Web 2.0 is a little different. Real-Estate is all about exit ramps off the internet superhighway that lead to your door. The more of these exit ramps, the better chance you have of getting that web traveler to your door.
The challenge is to make sure you attract or funnel the right kind of traffic to your door. You do this by controling the type of content you post. Think about the client you want to attract. Think about what type of questions they may have or information they may be interested in. Then post answers to those specific questions and providing that type of information.
Another thing to consider is this. These are very unique times. So don't use what happens in today's market as a rule for what will happen in a more normal market.
I setup a little side company to help answer questions. You can reach me via the website at www.RealEstateWebExpert.com.
Hope this helps.
Barrett Powell, Owner, Broker in Charge
RE/MAX Southern Advantage Companies
288 East Street, PO Box 1427
Pittsboro, North Carolina 27312
919-542-6966
BarrettP@REMAXSouthernAdvantage.com
Submitted by Daniel Rothamel, Inman Community Manager on April 9, 2009 - 10:20am.
Barrett,
That is the most reasoned explanation I have heard of Internet marketing for real estate in quite some time.
I'm not sure why folks don't get that. I'm not suggesting that Teresa doesn't. In fact, I know the contrary to be true. The Internet doesn't sell houses, people do. Redfin has proven that better than anyone.
Personally, in my own practice, I haven't experience the quality of my internet/social media prospects to be any better or worse than those I have found through other methods.
I completely agree with you, Barrett, in that it depends largely upon the type of content you produce; and that this are unique times, indeed.
Sidebar-- I think that twitter's potential lies squarely in search, hence the reason that Google has expressed interest in buying it out. Results from a twitter search are easier to sift through (at only 140 characters each), and oftentimes much more relevant (since they are real-time) than what can be found through a traditional Google search. Track any breaking news story on Twitter, and you'll see what I mean.
And we all know about Google's success monetizing search. . .
http://www.RealEstateZebra.com
Submitted by Alexis Eldorrado on April 9, 2009 - 11:34am.
As an experienced and successful Chicago real estate broker, I generate a lot of business from the Internet. It is my preferred manner of lead generation and marketing. My buyers are plentiful and my listings are exposed much wider than any other marketing avenue.
Your experiences would have occurred regardless of the source of the lead that generated the activity. It was not the lead that was bad; it was the outcome of the activity. Those same clients could have come to you off of a post card mailing or a FSBO call.
Lead generation is the key. The more leads the better. Like all sales activities, it is a numbers game. Personally, I love Internet exposure and marketing. Early in my career I had a good agent website .I built a team and then opened my own brokerage firm. It has given me much freedom. My website, www.Eldorrado.com , has generated a database of over 7,000 subscribers.
The Internet has been phenomenal for promoting my listings as well as generating buyers. Keep on working the Internet and be mindful that it was not the reason for the transactions not closing successfully. It is a lead generation source. We have the same experiences that you have had, but for the ones that buy almost instantly, or sell almost instantly, there is a balancing of time and energy that make it all worthwhile.
Alexis Eldorrado
Managing Broker
Eldorrado Chicago Real Estate LLC
150 N. Michigan Avenue, Suite 2800
Chicago, IL 60601
773-588-7777
www.Eldorrado.com
Submitted by Bill Gassett on April 9, 2009 - 11:37am.
This sounds much more like a screening issue than a social media marketing issue. These scenarios could occur whether the person came from the internet or not?
Bill Gassett
Hopkinton Real Estate
Submitted by Bruce Hiatt on April 9, 2009 - 11:44am.
I concur with Bill that the article appears to point our screening issues rather than a social media marketing issue. We are on record for tracking revenue generated as a result of our blog websites. Of course, we screen our prospective callers to address issues such as those in the article but clearly found a big difference in the type of prospect we gain from our brokerage website in comparision to our blog websites. The prospects from our blog websites contact us to do business with us because they view us as knowledgeable in the type of luxury real estate they wish to purchase having read our blog posts.
Regards,
Bruce Hiatt - Broker/Owner
Luxury Realty Group LLC
Las Vegas, NV
www.LuxuryRealtyGroup.com
www.LasVegasHighRiseBlog.com
Submitted by Leyla Newman on April 9, 2009 - 11:51am.
Well I guess I have a different opinion all together. And a very different understanding of what the social sites are all about. The social networking sites are just that - a place to find and be found. The fact that you had someone call you from the sites of which you are a member is great! Congratulations.
Perhaps you are discouraged by the quality of your leads and prospects. That's ok. You never know what might come of that in the future or if their situations might change at some point. Let's face it, in this market, we are all spending more time on things that sometimes go nowhere. Don't let that discourage you from seeing the real potential of what you are doing. Even a virtual tour is just a tool. It does not "sell" the house. It prompts people to want to see the home but it does not sell the home. Your profile on these sites, you blog, your comments, is a way of opening the door for people to approach you, ask you questions, feel comfortable with you and then potentially use you for their next real estate transaction. Embrace it. Be positive and I'm sure sooner or later one of those phone calls will be a qualified buyer or seller.
I think you got exactly what you sought out to do; have people call as a result of being on those sites. Good for you!
Leyla Newman, ePro
Realtor®
Prestige Real Estate Group, LLC
1745 Shea Center Drive, Suite 100
Highlands Ranch, CO 80129
303-246-1487 (Direct)
lnewman@prestigerealtygroup.com
www.LeylaNewman.com
Submitted by Louis Cammarosano on April 9, 2009 - 11:57am.
Teresa
The issue with Twitter, Facebook and other social media sites is that they are SOCIAL MEDIA sites.
You are not supposed to get business from them!
If indeed you do try to get business from them you find yourself in the awkward position of trying to sell to a "friend"
Perhaps the two should be kept separate.
Think of our differences on the subject of "forced" registration to view listings.
This is a very upfront approach and if you spell out clearly that you are requiring registration because you want their business, you have a better chance of getting it than befriending someone on twitter and then trying to get their business.
A more important point however is that the person who registers on your site is probably 100X more likely to be in the market to buy a home than just anyone you happen to meet on facebook or twitter.
Submitted by William Metzker on April 9, 2009 - 12:00pm.
Would you walk into a cocktail party dressed in a sandwich board that said "I buy and sell houses?" of course not. Same for Facebook and similar sites. You're there to be with friends. I know I'm really put off with people who flagrantly market themselves on Facebook. Do people really think that by posting a listing, one of their virtual friends will think, "Gee, I'm glad I saw that. I think I'll call that agent and buy it."
On the other hand, if your son's girlfriend's parents are moving into your city, might not you get a referral? Yes, and I have. But that's not the only reason to have a Facebook account.
Too many people in sales can't see people in any other way than as a contact or a lead. I think that's one of the reasons salespeople as a group are not held in high esteem.
Facebook is a virtual cocktail party, a place to have fun. It is not internet marketing. Blog links to Trulia or wherever are marketing, as Barrett Powell implies above. But if your intent is to pitch me with something, then please--don't "friend" me.
Submitted by Jon Boyd on April 9, 2009 - 12:09pm.
I'm will Bill on this also.
Certainly social media can suck up way too much time, but, it can also increase exposure.
It is up to the individual licensee to determine the point of diminishing returns.
Jon Boyd
Broker/Manager
The Home Buyer's Agent of Ann Arbor, Inc.
1908 W. Stadium Blvd. Ann Arbor, MI 48103
http://buyersagentannarbor.com
Submitted by Frank Wilson on April 9, 2009 - 12:10pm.
All very valid concerns Teresa. This is truly a time of working from the basics. If the motivation is not there then the customer is not ready to move forward. The challenge I've found is moving people from the inactive state of browsing to the proactive state of buying.....Obviously this is not something we can actually do, only identify the point at which they actually have a compelling reason to make the move....Good luck.
Frank
PS Please check out one of my posts about how FaceBook, LinkedIn and others all fit into overall marketing picture.
http://www.myrealestatecareerblog.com/?p=76
Submitted by Brian LoPresto on April 9, 2009 - 12:13pm.
I guess I don't fully understand this idea of social media "selling Real Estate." I was under the impression that Realtors still sold Real Estate. Over the past 10 years the one major complaint of Realtors I have heard, is that the internet has diminished their sphere of influence, since the consumer needs them less during early stage research.
Now you have all these terrific internet based networking sites to "re-build" an online sphere of influence....AND IT'S FREE!! I don't understand this article. Did these sites advertise their ability to drive lots of new leads with unprecedented close ratios?? Did they claim that a Realtor could use this and no longer need to work the deal??
It's just creative networking & communicating online. I'll bet for every hard luck experience, there's also a positive experience too (which the author even referenced). I think what this author was looking for was an "Easy Button" >> Try staples.com ;)
Submitted by Duncan Logan on April 9, 2009 - 12:14pm.
Prospecting and sales constantly grapple with two issues, Quantity and Quality. You need a quantity of leads to be in business but the quality will determine your success. The most successful sales people qualify out of prospects hard and fast. They appreciate that time is the most valuable commodity and therefore spend it only with real prospects or finding real prospects. Qualifying out early is key, serious buyers or sellers will be drawn to your no BS approach. The timewasters will go and waste the time of your competition and your reputation will grow in the direction you are seeking. "She is awesome, but only speak to her when you are ready to buy /sell because she won't take you on otherwise”.
Social Media is just another route to market, like mail drops, advertising etc.
Submitted by Shannon Murray-Corsale on April 9, 2009 - 12:17pm.
Teresa,
I read your article and was excited to see that you were able to make contact with numerous prospects who otherwise might not have found you through more traditional means.
Regardless of how contact is made, once you have made contact, it is up to you to employ your agent skills in sorting through those propects to find the motivated, and to determine the level of service you are truly able to provide.
You may have had success referring those prospects out to other real estate agents, which would have protected your own time, energy and emotions.
Don't ever hesitate to refer out or say to a potential client "I am not the best person to help you, but here's someone who is...", especially since it would have prevented these frustrating experiences for both you...and your clients.
With the real estate profession being one of the early adopters of the social networking medium as a business application, we should be thrilled about the success we have had and the reach it has given us.
There are many positive reasons to keep using the SN sites to grow your business. I hope the intention behind your article was not to try to discourage fellow agents from building an online presence, based upon your own subjective personal experiences which do not seem to be the fault of the sites themselves.
I think when you have an audience as large as you do here on Inman, you need to respect our time as well by providing useful, thought-provoking material from a place of positive contribution.
I think what you have shared with us today is more of a rough draft of what could have been a very useful learning experience for you...one that has little to do with social networking sites.
I hope the quality of your posts, and the quality of your beliefs about the service you provide as a real estate agent and the value of your time, improve dramatically as a result of all the comments you have received on this article.
Sincerely,
Shannon
Shannon Murray-Corsale
www.shannoncorsale.com
Submitted by Richard Silver on April 9, 2009 - 12:24pm.
Theresa,
As a REALTOR who does all the above marketing, I look at Blogs as my chance to answer all the questions that my clients ask in a concise manner and it is becoming a time saver...How many times can you answer, "When is the Best Time to Sell??"
I use the Internet to drive customers to my views and listings. I have had a lot of comments from people who I see on the street and they and other Media are reading it. As long as you have good honest content and I know you do, your visibility will pay off. I know who I to send referrals to in Minneapolis-St. Paul...Theresa Boardman!!
Richard Silver, Sales Representative
BOSLEY REAL ESTATE LTD. BROKERAGE
mail@richardsilver.com
416-322-8000
Cell 416-587-3300
www.RichardSilver.com
www.Torontoism.com
Submitted by Dale Youngkrantz on April 9, 2009 - 12:29pm.
I believe that all of the comments hit some really good points. As I train Real Estate agents in the use of technology as a tool I am constantly chalenged by those Realtors who are looking for the "easy internet lead" because they don't really understand what they need to do.
I found a good book on Amazon that does a good job of dispelling all the intranet "facts" in a positive informational approach. I recommend you check out "The Truth About Profiting From Social Networking" by Patrice-Ann Rutlegde.
Dale Youngkrantz
Koenig & Strey GMAC Real Estate
Chicago, IL
dyoungkrantz@ksgmac.com
Submitted by Jerzy (George) Szkup on April 9, 2009 - 12:29pm.
George Szkup
www.DestinationTucson.biz
Teresa,
I agree with you that social networking media does not generate leads. At least you had a few - I had none!
In fact, I am disappointed in any web type real estate advertising. Some people claim great success - I simply do not believe them. I have a website, publish monthly Blog and get between minimum and no results.
I would not mind if some "expert" (other than people in business of creating websites) would tell me what I am missing or point out to me what is in their publications that I am lacking in mine?
George in Tucson AZ
http://www.DestinationTucson.biz
http://www.LuxuryTucsonRealEstate.net
Submitted by Lorraine Abrams on April 9, 2009 - 12:37pm.
I have been in business for over 30 years and have seen many changes in the way we do business, including advertising for buyers and sellers and using the internet.
One of the main points in using social media sites is to get your name and business information out there. Do you have a website that you use? Are you paying for it and for using lead generation companies? Do you door knock? Send out flyers and/or postcards? Just think of all those social media networking sites as another way of advertising.
For me its a perfect way to meet other Realtors from around the country and around the world. I am the Relocation Director for my company and generating leads from everywhere is very important.
I got to State and National Conventions and try to network with as many people as possible. The interent is just another way to do it.
I know that it works because one of my first internationl deals came from a buyer on met online that I referred to another country to buy and he did.
You do not have to take part in every discussion on every site if you feel its taking away from your business. Just take a few hours a month to post a few sentices to everyone and ask how its going with them.
Lorraine Abrams, PMN, Relocation Director
Century 21 The Elite Group
Simi Valley, Ca. 93063
818-681-4285
labroker@hotmail.com
www.lorraineabrams.com
Submitted by Rich Johnson on April 9, 2009 - 12:40pm.
A web site & a social media site are 2 different tools entirely. We have both a web site & a blog. The blog's URL is an extension of our web site & it's purpose is to humanize us.
We also are on the popular social media sites but they are just that social media - give you a chance to talk about fishing, tap dancing, photograpy, pets whatever it is that you happen to be interested in. These are not sites to try to generate business but sites to engage people socially.
Our web site is a huge sales generator for us. But when you come to our site, it's obvious that we are there to do business ie: real estate & not to exchange our favorite chocolate chip cookie recipe.
Rich Johnson
360-319-3267
http://www.johnsonteamrealestate.com
http://www.johnsonteamrealestate.com/blog/
Submitted by Robert A. Hulme on April 9, 2009 - 12:52pm.
Alexis and Shannon were right on the money, Real Estate is all a numbers game, especially in our present market. Many people today are not going to be able to buy like they could 2 years ago. At least by generating internet leads you are given the opportunity to make a sale. Right now many agents would come running just for the chance to talk to someone like you have.
As I mentioned in one of your earlier columns, Internet lead generation is where future buyer's will be coming from. I have found that I really need to talk to about 10 prospective clients before I can really find someone who is a ready, willing and able buyer.
Another point that Shannon brought up, there is no reason that you can't refer your leads to someone who doesn't mind working for their money. This market isn't an easy one to work in, we have to use all our talents to make the sale happen.
Do what I am doing, I work hours every day trying to get as many internet leads as I can. When I find one of the diamonds, like what you are looking for, work it for all it's worth, otherwise refer the rest to other agents in your office. I have agents waiting by my office door every day just for the opportunity to maybe talk to a live body.
Robert A. Hulme
Realtor, GRI, e-PRO
Prudential Utah Real Estate
Loan Officer
Mortgage Xpress
www.UtahCountyHomes.ws
www.UtahCountyRealEstate.us
Submitted by Chuck Marunde, J.D. on April 9, 2009 - 1:31pm.
Great discussion here. Rich Johnson said it well when he wrote about exchanging cookie recipes. My real estate sites are for business, not socially reacting. As Realtors we need to be careful we don't jump on every Internet fad that comes along. There are many that can waste our time. My sites generate all the business I need. Well, I could use more, but that will come as the market improves. Want to see what a very successful real estate blog looks like? (50,000 unique hits per month) Look at mine below. I also have an online newspaper. Teresa, what I'm doing is working. In a market where nothing is happening for other Realtors, I closed on houses in Jan and March and wrote a deal this morning on a half a million dollar house.
Chuck Marunde, J.D.
Real Estate Attorney (Ret.)
Broker/Owner/Realtor
http://www.SequimRealEstateNews.com
http://www.Sequim-News.com
Submitted by Neil Kearney on April 9, 2009 - 1:31pm.
I think the point of the article was to say that the internet and all of its 2.0 iterations are not the 'silver bullet' that all of us web savy Realtors wish it would be. It is in fact just another line in the stream and right now we need as many lines out there as possible.
Once the prospects come to us (no matter the source) it is up to us to qualify, advise and serve. Some are easy, some are not.
Good food for thought.
Neil Kearney
www.TheBoulderBlog.com
Submitted by Brian Tercero on April 9, 2009 - 1:53pm.
Social media is going to change the way everyone does business on the Internet. Twitter & Facebook in particularly I see as the front runners in doing so.
It sounds to me that you had a couple of bad experiences with leads you picked up from the internet. But you also have to consider the other forces at play... we are in the worst housing market of the century. Inventory is at a historic all time high, buyers are terrified to make a move, and no matter what the media says, getting a loan is not as easy as we would like.
If real estate agents abandon their web game and do not invest the time to learn how to use it properly and the money to setup sites to enhance their credibility, they will be passed by the ones that do. And I am willing to wager that within 5-10 years, those who have not jumped on the online marketing band wagon will no longer be around to compete at all.
I have gotten clients from Twitter, and I am getting inquiries from Facebook. Why? Because I take the time to build a relationship with the people I am connected to. Hard sells do not work in Social media! You have to build a level of trust, and then share your good deals with your new found friends. And yes, I call them friends. Because I invest time to learn about them, and they invest time to learn more about me.
Take the time to experiment, take the time to look around at those using it successfully, study their tactics, and then implement it for yourself.
Then learn how to filter through your web leads for the serious buyers and learn to cut loose those that are just taking up your time.
But in today's market, regardless of where you get the lead, buyers are taking more work then ever before to get them to the closing table. Until the housing market kicks back into high gear, this is the reality of real estate. Get your work gloves on, its going to put us all to the test.
Submitted by Pam Buda on April 9, 2009 - 2:00pm.
Hi Theresa--what a surprise to read your post! I wonder if you weren't a little tongue in cheek with your post--the real question you seemed to be discussing seemed to be a matter more of lead qualification which is an important skill for any realtor to have regardless of the lead source.
I have received numerous leads from my various social networking and blogging activities and they run the gamut in terms of quality. But I also have closed numerous deals in the last several quarters which were directly a result of either my SM activities or internet marketing of my listings. I have met some great people who have become clients and sometimes friends that have come directly to me on-line.
One additional thing that I really like about my internet efforts that none of the other commenters mentioned is that my blog, Trulia profile, Twitter activity, etc. all serve as an online resume and portfolio for clients who reach me "off-line", through personal referrals, agent referrals and business network referrals. The on-line book of work enables me to cement new business relationships much more quickly and easily. Even my listing presentations are much shorter. I love spending less time explaining my qualifications to potential clients.
In the same way I love the fact that my internet savvy clients are better educated and informed about the market and inventory, so that we can focus our efforts where I can provide the most value added, not as the gatekeeper of information but as the interpreter of local market conditions and transaction dynamics mapped against their needs and goals.
Submitted by Kyle Moore on April 9, 2009 - 2:02pm.
I had to make an account just to comment on this. As the Marketing Director for a Real Estate company I tell all my Realtors to sign up to Social Networking sites. Teresa's post is something I struggle with every day. Social Networks don't sell real estate. Neither do Newspaper ads, web banners, Magnets, Signs or Virtual Tours. It's called marketing. Realtors sell Real Estate.
Teresa was getting potential buyers contacting her through her social networks. That's exactly what they are meant to do! Social networks are like Cocktail parties that last all day every day. If you get sloppy drunk no one will talk to you. If you stand up in front of the crowd and give an insightful speech everyone will want to do business with you. Like someone else commented - they are off ramps to your town, the more off ramps you have the more traffic you get and your business potential will grow.
It's Marketing for the 21st Century. People are not going to come to your websites and start throwing your listings into a shopping cart and then ring out before leaving your site. You're not BestBuy. Realtors still have to close the deal.
Once a QB figures out how to sell Real Estate through just websites watch out. A lot of Realtors will be loosing their jobs.
I hope this helps all Realtors understand. You need to sell Real Estate. Facebook is not going to sell it for you.
Submitted by Truett Neathery on April 9, 2009 - 2:03pm.
I am a RE Appraiser, but I was an agent long ago. We learned to ask prospects "Are you pre-qualified"? If not, why not. Agents have a duty to their clients (those paying the commission) to alienate them from their current property, thereby earning a commission (something for something), and not just to get a ride in a Caddy, MB or BMW. 10-11 showings to a "prospect" goes way beyond reason.
Submitted by Teresa Boardman on April 9, 2009 - 2:04pm.
I am not at all discouraged and I believe in the tools I am using and will continue to use them. My point is that generating leads by any method and selling real estate are too separate processes. My point is people sell real estate not web sites and it wouldn't have mattered where the business came from the results would have been the same because in most cases they have more to do with the market than they do with me or the buyers or sellers.
Submitted by Susie Blackmon on April 9, 2009 - 2:10pm.
Hi Teresa,
Knowing the level of your experience, expertise and pure brain power... trust me, I'm just here to add a little bit of my own input about using the social media aspects of our business.
I moved from Hawaii 2 years ago to a tiny town in NC with no friend or family base; therefore, my direction immediately went to the internet once I obtained my NC RE license as I knew I'd be unable to compete on the 'local' level, initially, with those who have lived here all their lives.
Using the social media sites, my Real Estate Tomato-built website, and Active Rain has allowed me to engage people and 'present' myself as I am, but it takes work, time and effort, as I don't need to tell you. However, I do notice more people contacting me because I am a 'horse person' which is where I am heading [niche], and my new horse site will tie in with the equestrian aspects of my life and, hopefully, my business.
Everything I do on the social media sites is focused on driving people to my website(s), with most of my SM time being spent on Twitter because of all of the great information I am exposed to and learn from every day. I do believe that the more places I am active on the 'net, the more opportunities I will have down the road, purely because of numbers of places I will be found 'out there.'
My experience does not come from mailouts or print advertising so I don't have much to offer there, but I can say that even in a small area that is dormant in the winter/early spring (even more so in our present economy), I'm thankful that I have referrals (4 at the moment) out to agents in my office which have come directly from my internet presence. I don't do floor duty. Being convinced my efforts will gain even more momentum once our market turns, I'm eyeballing everything in my 450 sq. ft. cabin, except my cat, wondering what it will bring me on EBay so I can survive in the meantime.
Susie Blackmon
http://www.BuckingtheRealEstateTrend.com
Submitted by Teresa Boardman on April 9, 2009 - 2:13pm.
Pam - I think you got my point. Web sites don't sell real estate we do. prospecting is one thing, closing the deal is another.
Brian - my leads have been wonderful and I have had a lot of success on the internet more than most. it is the market right now.
George - I get a ton of great leads form social networking sites. It works very well.
Submitted by Teresa Boardman on April 9, 2009 - 2:25pm.
Truett - all of my prospects are pre- qualified or I won't take them out to look at houses. That doesn't mean they can't change their minds or they won't lose their jobs or the agent with 150 foreclosures is going to respond to an offer.
Submitted by Daniel Rothamel, Inman Community Manager on April 9, 2009 - 2:45pm.
Teresa-
You said, "That doesn't mean they can't change their minds or they won't lose their jobs. . ."
Amen to that.
We've had more than one transaction this year that evaporated due to a job loss, or loss of retirement funds, etc.
It will drive you insane, if you let it. I know you won't. ;-)
http://www.RealEstateZebra.com
Submitted by Teresa Boardman on April 9, 2009 - 2:53pm.
Kyle - thanks. I love the comment and you totally understand what I am trying to say.It would be nice it I had a shopping cart on my site and did not have to work so dang hard for every dollar.
Submitted by Mark Bloomfield on April 9, 2009 - 3:10pm.
Teresa,
I have the shopping cart you are looking for....It's called N-Play and you can get it at N-Play.com. Call me. We'll have you taking orders like never before. ;-)
Submitted by Tim White on April 9, 2009 - 3:32pm.
The user generated comments underscore the value of "social" media. The dialogue between users and the author offered the only real items of value here as the article itself was a bit of a waif. But the ensuing discussion was fascinating.
Social media for real estate, as I see it, is an opportunity to extend your network, differentiate yourself from the competition and engage directly with the consumer. That's enough for me.
And, by the way, classfied advertising never 'sold" real estate anyway, but rather was always meant to generate leads.
Submitted by Ethel Phelan on April 9, 2009 - 4:53pm.
I am new to Twitter, I prefer it than the other sites-I don't know why. If someone is"following " me and try to sell me something, I quicklly turn it off. If someone just tries to be firendly and "offer" some advice, recipe or a link to some news of importance to me, then I click it...this is to show that I am just like the ordinary Twitter..we don't sell real estate in socia media sites, we just make friends with your followers, give and give that's what works and if people want to see what you really do, they would go to your website or blog and decide if they wanty to try your product- real estate is different, trust comes before anything, you gotta earn it and it takes time...
Submitted by Tina Merritt on April 9, 2009 - 5:46pm.
Leave it to you, Teresa to start such an insightful conversation! BTW - I am still waiting for you to accept me as a friend on FB!
Tina in Virginia
Submitted by Emily Medvec on April 9, 2009 - 5:52pm.
Hi Teresa,
Thank you for your article and being a catalyst for this discussion. I agree most with Susie Blackmon and see myself on Twitter and using social media as both a resource and experiment in having conversations with strangers. In just six months, I have found twitter to be invaluable in both my real estate practice and how I work everyday. The support that comes people who follow me is awesome. For me it is not about selling real estate, it is more about letting people learn about me - what I like, what I do, why I love Santa Fe, what I think about things, ideas and people important to me and what my interests, passion and purpose is in life. I now have friendships with people I have never met who I know are there (on Twitter) if I need them. I have customers who want my real estate help only because they have discovered we have something in common. I have no agenda or expectations. I am having fun learning how to communicate in 140 characters and hope each time I "tweet" on Twitter to make a difference.
Today, it is challenging to practice real estate as everything is changing constantly. Twitter helps me learn, unlearn and learn again. I hope you continue to give it a shot without any expectations.
Emily Medvec, Associate Broker
Santa Fe Properties
1000 Paseo de Peralta
Sanata Fe, NM 87501
Best Anytime Cell 505.660.4541
www.emilymedvec.com
www.buysantafehomes.com
www.twitter.com/EmilyMedvec
Submitted by Bruce Wagg on April 9, 2009 - 6:16pm.
The use of social media is important in the optimization of your website and this allows your site to be found quickly by people searching for your specialties.
Bruce Wagg
Oakland Real Estate | Berkeley Real Estate
Submitted by Scott Kato on April 9, 2009 - 9:32pm.
was that a lame article or is it me? her experiences have nothing to do with twitter, linked in, facebook or social media 2.0 the same could be said if you met the client at an open house. it's your job to qualify the prospect to see what stage of the game they're in. i never show 12 homes in a week let alone for 10 straight weeks. i never take a listing that doesn't show well or has uncooperative tenants unless it's priced way below market value like a REO.
i am still stumbled on the article.
Submitted by Benjamin Clark on April 9, 2009 - 10:34pm.
Over 1/3 of my closed business last year (and about the same percentage of leads) came from my blogging and social networking activity. This year, it looks to be on the same track.
My recommendations:
Don't try and be everything to everybody.
Write for your niche.
Pre-Screen your leads.
More: http://tinyurl.com/dk39ok
Benjamin D. Clark
Certified Negotiation Expert
Principal Broker
Homebuyer Representation, Inc.
Salt Lake City, UT
www.activerain.com/eba
(801) 969-8989
President-Elect
National Association of Exclusive Buyer Agents
www.naeba.org
Submitted by Joseph Bridges on April 10, 2009 - 7:24am.
The conversation is great on this post and social media sites are the same way, they are about the conversation.
Social media and blogging need to be used to generate leads, as Teresa you point out that you are doing and doing well.
The issue appears, as mentioned in previous comments, in conversion and qualification. Agents who market to FSBO and Expired don't take everyone that they run across and qualify everyone.
Scripts, follow-up, and qualification need to be done regardless of lead source, even referrals.
Visit the blog at: http://www.InternetRealEstateSuccess.com
Real Estate Resources at: http://www.OnlineRealEstateSuccess.com
Submitted by Teresa Boardman on April 10, 2009 - 1:04pm.
Scott - it isn't just you, my experiences have nothing to do with social media.
Joseph - my clients are absolutely the best I could not ask for better. They are qualified. but that doesn't mean they can't be laid off or that the bank will accept their offers
Submitted by Mike Parker on April 10, 2009 - 1:18pm.
Mike Parker
mparker@theblackwatercg.com
Hi, Teresa;
You are so correct: Social media can be the biggest waste of time since Hercules tried to muck out the Agean Stables.
In fact, when I took this position in a column about a year ago, Texas Realtor magazine reprinted it with the title: "So, Do you want to waste some time?" You shoulld have seen the vilefication! When Point2 announced their much ballyhooed Facebook app, I tried to convince them that it was a waste of time with another article stating that no consumer was going to buy a home off of Facebook. Like you, I asked for anyone who had done so to contact me: no takers.
But to me, the crystalization that all this fol-de-rol is just that came when I happened on a thread posted by a guy who had written about a management shake up at a web company and who bragged that he got 27,000 page views. I asked him: "How many houses did you sell?" He never answered, either.
Over the past year, I have seen nothing that changes my opinion: great networking tool and social chit chat; very little value as sales tool.
Keep on telling them what they don't want to hear. Maybe that way, some of them will listen to you, like the big time Dallas blogger who later wrote to say that the Texas Realtor article was right: "I spend at least two hours daily on my blog, three hours reading others. I need to put that time and effort into selling homes." He shut it down.
In times like these, prospecting is key. It would be nice if consumers cared about what is happening in realtors lives, but they don't. They go online to find out about houses, not personalities.
Best to all,
Mike Parker
Submitted by Todd Dubner on April 10, 2009 - 2:29pm.
Saying social networking sites don't sell houses is a lot like saying Google does not sell houses or more precisely, like saying your personal brand does not sell houses. While all of these statements are technically true (great agents sell houses, the rest are tools), it somewhat misses the point and the potential benefit. Social networking sites give you an opportunity to improve your personal brand and connections with your friends, extend your relationships with your acquaintances and drive referrals of strangers to you from that network.
Your personal brand is your one and only differential advantage - by developing it in all media, you can stand out versus your competitors!
I have a series of blog posts on personal branding strategy that I am happy to share at tdnyc.wordpress.com.
Submitted by Todd Dubner on April 10, 2009 - 2:43pm.
Sorry, more for the comment that I missed above...
Also, the Internet seems to be moving from the Google phase (everything a search query away) to the Facebook phase (every question answerable by a network of trusted friends and acquaintances). I am sure you would all permit Google to index the pages of your websites so that you appear in search. I believe that participating in the social network ecosystem will permit you to be found by more people over the long run.
While there might be a longer period to develop the ROI, being present is critical!
Submitted by Michael Daly on April 11, 2009 - 7:05am.
Two points:
1- I am committed to providing info that is accurate and truthful on my blog, not just spreading the "Now A Great Time To Buy, Folks!" NAR line. So, while that truth-telling is appealing to customers, at the same time I'm telling them "Now might NOT be the best time to buy". The Hamptons market does not appear to have bottomed yet; yes we lagged in the market down-turn. This leads to lots of customers who are in limbo.
2- We must get better at knowing who is and who isn't our 'good fit' customer and figure out how to 'fire or refer' those who don't fit our own particular model. Now, more then ever, we need to qualify, qualify, qualify and focus on the people and circumstances that will most likely lead to transactions. That's being responsible to our own business.
Michael Daly
The Hamptons Real Estate Blog
www.beachamptons.com
631 725 0554
Submitted by Brian Crane on April 13, 2009 - 8:27pm.
This is further evidence that "selling" is a skill too! Too many people get "marketing" mixed up with "sales". Marketing is about generating awareness and a quantity of leads. Web 2.0 and social media present great ways to extend our "sphere of influence" marketing campaign. Successful real estate "sales" however are dependent on the quality of a lead. This requires being skillful at qualifying, setting expectations, understanding motivation, educating clients, negotiating and leading clients to make decisions that will help them achieve the goals/results they desire.
Submitted by Virgnia Hepp on April 16, 2009 - 7:57pm.
It is so easy to get caught up in the rush to have your face and profile on every internet site that you hear of. And if the links to your site help, then it is worth it. My little blog has boosted my website tremendously and the only business I am doing is from internet lookers who turn into buyers sooner or later. Yes, it is a lot of work. Yes, it is worth it. Michael Daly is right - qualify, qualify, qualify. I still give good service to those who are not quite ready to buy or need to sell a house first. They get to know me from reading my blogs and when they are ready, they already have most of the information from me.
Virginia Hepp
http://mesquitenvrealestateblog.com
http://mesquitehomesandcondos.com
Submitted by Ron Redlich on April 27, 2009 - 8:27am.
Web 2.0 is OK but don't give up you day job - meeting people face to face.
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