Everyone is talking about it but not many real estate professionals are doing it…social media marketing. The numbers say it works but the competition has yet to embrace the tech savvy marketing that only benefits their sellers. Recent studies show that social media does influence the products we buy.
Traditionally, the number one way to market has been word of mouth advertising, but now social media has the power to influence consumers to buy according to what their family and friends like. Social media marketing has become word of mouth marketing on steroids.
This chart below shows a study from eMarketer citing the number of internet users who would buy a brand from social media influence.
eMarkerter also found that; “while that is a relatively small percentage, younger consumers were more likely to buy because of a “like.” They found that 23% of US internet users under the age of 35 said they would buy a brand because of a friend’s social endorsement, and nearly as many internet users between the ages 35 and 49 would do so. Females and males were about even by this metric, at 18% vs. 17%”.
What does this mean for sellers? All real estate professionals need to be utilizing social media including blogs, facebook, twitter and more to promote their properties. Not doing this is a disservice to the seller. The National Association of Realtors in 2011, found that 52% of the first time home buyers were between the ages of 24 and 35 years old. First time home buyers made up 37% of all homes purchased. These numbers directly correlate with the study of influence of social media on buying decisions.
So when looking to make a decision on who to list your home for sale with make sure your real estate professional is social media savvy.