Is Social Media in Real Estate different to other industries?


Good evening, Social Rabbit here with your guide to the world of social media.

Today this Rabbit went to a real estate conference, not because I’m about to get into real estate, but because there was a social media speaker there talking about using social media in the real estate business.  The speaker was Matthew Ferrara, an American guy with a background in real estate, below is him in action on stage in Sydney.

It’s always interesting to hear what other people have to say on social media, and these are the tips I picked up…

  1. Use social media to a) build your business and b) to learn from your customers, not advertise to them
  2. In social media do activities that create a dialogue with your customers and enables you to learn from them
  3. Look for a way to give your customers value
  4. Your job in using social media is to a) show up, b) watch, c) listen and d) learn
  5. Australian’s are on social networking sites on average more hours a month (7 hours) than people in any other country
  6. Get on fewer networks with a deeper presence rather than spreading yourself across lots
  7. Make your page/profile engaging not just a brochure
  8. Be aware that different networks have different norms, eg LinkedIn is a professional site, whereas Facebook is more relaxed.
  9. Use profile pictures to attract attention in people’s news feeds
  10. Interact with people as you would in real life, imagine you are talking to them at a lunch, rather than just bombarding them with information/things to buy or info on your business
  11. Use a “share to grow” strategy, which is about being a multiplier, creating posts that add value and people want to share
  12. Use WIFT (what’s in it for them) when writing posts
  13. Don’t over advertise to your readers, he recommends 1 ad to 50 value add posts
  14. Regularly search what people are posting and reposting about your business, so that you can see what they like to share
  15. Integrate social media into your current sales and marketing plan
  16. Focus on one network that cascades into others (eg Facebook to Twitter)

My favourite from Matthew’s talk is his idea of a “share to grow” strategy, this is going to be a topic covered in a future post.  This is about value adding to grow your network, because people will share something if it makes them laugh, gives them new info, gives them new skills or ideas.  Of course I have talked lots previously about adding value and engaging customers, but haven’t put it into a phrase.  It was very interesting to see a speaker talk on something this Rabbit is an expert in and how he phrases things.  I am not sure if I agree with the 50-1 advertising to value add ratio, this really does depend on your community, your business and your purpose for social media.  I don’t think that there is one hard and fast rule, it can vary greatly.  But, it is interesting to see what people think should be done, I think we should try out different things and see what works.

Finally to come back to the question posed on this blog: Is Social media in real estate different to other industries?  The answer is NO, social media in any industry is about building relationships, communities and adding value.

Have you seen a good speaker lately that has made you look at a topic in a different way?  Tell me in the comments or on the Social Rabbit Facebook page.

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3 Comments

Filed under Facebook fan pages, facebook page, linkedin, Small business, social media

3 responses to “Is Social Media in Real Estate different to other industries?

  1. Hi Rabbit! Thanks for attending the conference and recapping my presentation for your readers! Glad you liked the ideas offered.

    Have a great day!
    Matthew Ferrara

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