The Importance of Social Media in Real Estate

February is “I love Social Media” month at Homes.com and the most recent statistics on social media and social networking sites suggest that we are not the only people who love social media.

Social media can range from communication to collaboration and includes websites like Twitter, Facebook, Wikipedia, Last.fm and more. Facebook and Twitter have seen immense growth in the last year and show no signs of stopping. Here are some interesting statistics:

  • Facebook’s 35-54 demographic has seen a 276% growth rate over the last six months (source)
  • Facebook is also seeing significant growth among the 55+ demographic, with a 194% increase over the last six months (source)
  • Twitter’s 18-24 and 25-34 groups make up almost half of their users (source)
  • Rapleaf reports that both LinkedIn and Facebook have over 60% of their users in the 18-34 age range (source)
  • The Neilsen Company reports an 82% year over year (December 2009) increase in social media site users (source)
  • These staggering statistics should directly tie into your marketing approach on how you reach home buyers and sellers. According to the 2009 NAR Survey of Home Buyers and Sellers, 90% of home buyers used the internet to search for a home, with 36% of them going to the internet first. In the 25 to 44 age brackets, 96% reported using the internet. The survey also reports that the median age of home buyers on the internet is 37, which is the fastest growing group of people on Facebook.

    The best way to reach people who use the internet to find their next home is where they spend their time on the internet – social networks. Registration on sites such as Twitter, Facebook, and LinkedIn is often free and the sites are typically user friendly and do not require the skills of a programmer. The only cost to you is the time spent updating your profile, something that may only take 15 to 20 minutes of your time daily. Compared to the typical cost of traditional marketing, social media is a cost effective option.

    You can find information and tips on this blog (including how to share your listings on Facebook) and you can also sign up for our free webinar “Boost Your Bottom Line with Social Media” with Laura Duggan and Patrick Birdsong that will showcase how they’ve used social media to increase their business. This webinar will take place February 25, 2010 at 1 pm EST. For more information click here. There is also a past webinar “Breaking Down the Barriers to Blogging” featuring Mariana Wagner that dealt with the issue of social media. You can listen to that here.

    Jason Parker

    Jason Parker

    Jason worked for several years in the real estate industry as a licensed agent and member of the National Association of REALTORS. He has an MBA from Florida State University and enjoys writing about how agents can improve their marketing efforts.
    Jason Parker

Related Posts

Homes.com Announces App for Windows Phone 7
Mortgage Rates Reach Highest Level in 7 Weeks
Make First Time Home Buyers your Niche!
Homes.com Celebrates the Big 4-0 With RE/MAX in Las Vegas!
Pinterest Could be Real Estate Professionals’ Lucky Charm

2 thoughts on “The Importance of Social Media in Real Estate

  1. Establishing online presence is the major purpose of creating a real estate company website and performing SEO and social media marketing. These days, this the proven most effective approach in selling homes from the free property listings to leverage the sales. Nice Article.