Facebook unveils first ad product for real estate

A brokerage can now target past visitors to its site and present them with relevant Facebook ads

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Facebook has unveiled its first ad product designed specifically for the real estate industry. "Dynamic Ads for Real Estate" allows a brokerage to advertise relevant listings to Facebook and Instagram users who have previously searched for properties on the brokerage's website. With a Facebook employee telling Inman that the online giant is "betting big" on the industry, it could be the first of many real estate-related projects for the social network that recently hit 2 billion monthly users. The new ad product mimics the type of advertising that Amazon excels at: promoting goods related to what a consumer has already purchased or looked at on the internet (like the abandoned contents of your online shopping cart) -- and in this case, for-sale properties, said Facebook's Keith Watts, who oversees projects covering the real estate and financial services industries. The ad product requires integration between Facebook's ad platform and the brokerage advertiser's listing data...