AgentTechnology

Is Facebook the new Zillow for real estate ads?

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Will Facebook have its real estate cake and eat Zillow's, too? In what appears to mark a significant shift in the real estate marketing landscape, real estate agents and brokerages are more likely to buy ads on social media than on all other forms of digital media, including listing portals, a new report and Inman data suggest. The report, which was released by advertising research firm Borrell Associates, suggests that social media advertising is producing a significant return on investment for real estate agents, signaling rising costs for Facebook and LinkedIn products and stiff competition for Zillow Group and realtor.com. (Read more about this in a recent Inman report.) "Overall, agents are spending $9 of every $10 on digital advertising, and more and more of the spending is going to Facebook and LinkedIn," Borrell reported. It forecasted a large migration from "pay-for-listings sites" -- which is Borrell's term for listing portals -- "to more sophisticated forms of t...