How is Social Media Impacting our Home Purchasing Habits?
Consumers are going online more than ever to look for information to support their buying decisions. We read reviews, look up brand-specific information, go to Facebook Groups for recommendations, check out trends on Twitter and the list goes on and on. Home purchasing is also being influenced by social media, both from the standpoint of the realtor and the client.
There are many ways that social media is being used in the real estate world. Social media can do so much for so many different businesses. As it pertains to real estate, social media is being used from everything like relationship building for the client and vendors; to marketing and advertising and to garner word-of-mouth referrals.
Social media is an easy way for all parties to access information and a way to be in constant communication.
For realtors, a good use of social media is for the realtor to take their offline personalities and allow the public a glance at their online persona.
Social media also allows realtors to get to know their clients on a personal level and although business people tend to be more conscious of what information is shared on social media, it can also show the personal side of whom you are working with. Some realtors use social media to highlight their interests, their families and how they spend their leisure time. For clients this can be a big help when choosing the realtor they would like to work with offering them a chance to become familiar with who they will be working hand in hand with during their buying or selling process.
Business people can liken both Twitter and Facebook as the new word-of-mouth. Both platforms can be used to highlight the experiences of real people who have used your services and can use the reviews to compare and contrast your sales. It’s also a way for realtors to build trust in the community and strengthen their connections in the local market.
What does this do for you? It not only builds trust but, in addition to your own marketing spend, you are also relying on your friends and followers to help spread the word.
From my own personal perspective as a client (having just purchased a home three months ago) I can tell you the one thing I appreciated more than anything was fast and efficient communication.
I’m not alone in this either, when you are going through the home buying process, most buyers and sellers expect an instant response from their agent, preferring to communicate by email, text messaging and Facebook messaging.
We have become a society who wants and expects instant gratification and instant responses.
To learn more about the impact of social media and technology and real estate, The National Association of Realtors and Google have published a great article, “The Digital House Hunt: Consumer and Market Trends in Real Estate A Joint Study from The National Association of Realtors® and Google.”
Social media has transformed the way home buyers and consumers, in general, make purchasing decisions. Realtors better step-up their internet presence and reach out to this ever-growing number of shoppers looking online.