Homesnap, a mobile home shopping platform, has forged a partnership with Facebook to allow brokerages to use the social media giant’s Dynamic Ads for Real Estate tool to target potential homebuyers.
The program will allow brokerages to retarget customers who visit their site or the Homesnap portal through real estate ads on Facebook, Homesnap Chief Product Officer Lou Mintzer said.
“Homesnap is uniquely positioned to provide this valuable offering to brokerages who want to target their digital marketing to the most interested home searchers,” Mintzer told Inman.
Earlier this year, Homesnap launched a similar ad program for individual real estate agents allowing them to target potential homebuyers who searched for these properties through Google, Facebook, Instagram and Waze ads.
“Part of the beauty in having one’s real estate listings ads on Facebook is that the consumer is seeing information directly in a way that’s relevant to them,” Tim Condon, Homesnap’s senior vice president of marketing and engagement, told Inman. “They’re geographically relevant, and they’re relevant to the kinds of listings that you’ve already been looking at.”
Similar to how Amazon places online ads for goods consumers have previously browsed, the Facebook’s Dynamic Ads for Real Estate targets homebuyers who have searched listings online. Once a user views a property online, it may appear as an advertisement when they scroll through their Facebook feed.
Following the tool’s launch in August, a Facebook employee told Inman that it was “betting big” on the real estate industry by developing various ad products. The cost of the tool will vary for how many and what type of customers a brokerage targets, a company spokesperson told Inman.
Launched in 2012, Homesnap integrates data from 145 multiple listing service systems. The company has recently raised $14 million in Series B funding. Since partnering with management analytics firm ShowingTime in 2015, the company has successfully arranged an average of 500,000 agent-clients meetings annually.
“This product is extremely powerful because it combines the brokerage’s inventory with Homesnap’s traffic to serve the consumer the precise type of homes they’ve already been searching for,” Mintzer said in an earlier statement.