Sonja Dyess

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Many real estate investors often consider the meaning of social media and ask themselves, “How can it help me?”

Social media is like a hyper version of “word of mouth.” Its purpose is to build relationships between the consumer and the brand. Social media is another way of getting your name out there and increasing your client data base. For the real estate investor, these clients can be prospective tenants, buyers or sellers. Social media is not selling, nor is it spamming. It is truthfully gaining trust and letting your customers know who is behind the brand or product. Social media is a two-way conversation, without the conversation the purpose is meaningless.

Social media is made up of various platforms, i.e., Facebook, Twitter, blogs and videos, to post information and get feedback or questions from prospective or current clients.

If you put content out on the internet and allow the viewer to communicate with you, then that is social media.

Social media can be understood by first viewing how consumers used to do business. I call this “What is old is new again.” Back in the 60′s, dad took you to Bob’s Dealership to purchase your first car. You might have asked, “Why do we have to go to Bob’s? Why can’t we go to Fred’s?” The answer was usually, “Because I bought my car there and grandpa did, too, so you can’t go wrong with Bob.” The trust was established; therefore you went to Bob’s dealership and not Fred’s. More than likely dear old dad played poker with Bob and participated in the same community events.
How does that relate today?

How does the above scenario relate to today’s consumer culture? Today, that same relationship, word of mouth, and trust is built over the internet. Consumers are more connected to the technological world today more than ever. Many phones now even have social media integration. By utilizing social media marketing you can effectively target this audience 24 hours a day, 7 days a week!

Business owners may ask why they should be concerned with social media. First, no matter what industry you are in, you have to compete online for your consumer. Social media allows you to build a relationship with either an existing client or a prospect. When the the time is right, your business will be the first one the client seeks because you have established and built a trusting relationship.

Social media can provide your business with many tools:
* Building your reputation
* Getting more website views and phone calls
* Reputation management
* Customer service

So how are other investors using social media? Blogging is a great tool. A blog is an online journal where people can post daily entries and allow readers to comment on their content. Some say that BLOG stands for “Better Listings On Google.” Real estate investors use blogs to build credibility and show their inventory. Generation X and Y, a great market for first time home owners or renters, visit blogs for their information and feel more comfortable placing a question on a blog, rather than picking up the phone to ask a question. They view this as a time saver.

By publishing a blog, you will get noticed on Google and other search engines. Frequent updates inform search engines that the site is authoritative and informational, resulting in higher search-engine rankings. Using popular search keywords in a blog post can also strengthen your results.

One way a real estate investor uses his blog to increase traffic is to give tips on what to look for when purchasing or selling a home. Another real estate investor, Colman Grant of Colorado, posted valuable suggestions to homeowners on how protect themselves when hiring contractors to renovate their homes. Because he does this quite often, he is viewed as an expert. Even though he didn’t get a customer from posting the suggestions, an interested investor did contact him as a result.

Join the many realtors who have incorporated Facebook as a great referral system. One way of doing this is connecting with classmates from high school and/or college. Your past friends learn that you are in the real estate business and begin to use you as their trusted agent and the word spreads that you are the best source.

An example of a realtor using Facebook would be Amy Hale of Seattle, Washington. She used this method and gained three clients in one day. Amy had connected to her classmates from Southwestern University (Texas) and Flour Bluff High School. While connecting with old friends, she had posted an open house on her status and a friend of hers happened to move to a town near the open house. Her friend didn’t buy that house but wanted her to sell her house. She did a great job and Amy ended up finding a house for her friend’s sister and best friend. This is just one example of many.

Explore the multitude of strategies available; you just have to find the right one that fits your audience. Over time your strategy may have to change as all industries learn to adapt their methods of getting the word out.

Social media permits an open and safe forum in which you and the consumer establish a relationship that will last through the good and the bad times.

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