Industry NewsNews Brief

3 basics of social media engagement

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Everyone says that you have to be on Facebook, Twitter and LinkedIn. The question is, "How are you converting your social networking activities into an income stream for your business?"

Eighteen months ago, at a National Association of Realtors conference, I was in the audience for a social media panel composed of five of real estate's best social media experts. When an agent stood up and said, "I'm on Facebook, Twitter and LinkedIn, but how am I supposed to make money with them?" sadly, there was not a direct answer from the panel.

The crux of the problem

The real issue when it comes to social media and real estate sales is that most people have confused the technology platforms with the actual business of providing real estate services. Asking how you're going to make money on Facebook is pretty much akin to asking how you're going to make money with your cell phone or yard sign.

Social media is nothing mo...