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Answers (19)
- Tracy Santrock- Raleigh-Cary Realtor, "Tracy Santrock"
- Contributions:1088
I've been using social media and the internet for several years so I was early to the game. I believe there is a place for all types of Social Media. I believe my clients double check my references by googling my name to see my presence on the internet. I believe I have indirect busiess from social networking but not anything concrete. 2009 was a great year fro me i n real estate!
I'm sorry I'm late to this party; Spencer, I also disagree with you! Now let me couch that and say that I don't think SMM is an imperative but where I think you're wrong is that it's already a lot more mainstream and easily accesible to RE Pro's than what you think. Real Estate is a relationship business. Realtors always have and always will do business with people they know; it's the whole "Sphere of Influence Marketing" thing. Nowadays, Realtors have a choice; either continue to cultivate that sphere of influence via pumpkins and fridge magnets or start wishing their "friends" happy birthday thanks to facebook reminders. I really do believe that social networking enables a much more effective approach to both growing and maintaining a productive sphere of influence and that Realtors who take this approach will outperform those that don't. Don't think about twitter - it still has a relatively small audience - but blogs and facebook do seem to be reaching a large portion of the homebuying public.
- Johnny James, "Palmdale Mortgage"
- Contributions:406
I think social media can be a good source of leads. Most of my loans and listings come from referrals but I have made a few good contacts through the social media sites that has led to some business. If used correctly I think along with other marketing tools it is essential to have some sort of web identity.
- Jason F. Griesser, CMB, "MortgageBankrPA"
- Contributions:1
I obtained a few pieces of new business through my blog & twitter and I only project this will grow over the years to come. However, in 2009 I know my social media presence had a big part to do with me keeping business. I received numerous comments on quite a bit of my potential clients on how they found info I provided on social media helpful. I really feel this locked many of my clients into using me. I also believe by providing them accurate & education information it allowed me to obtain a commitment from them without them shopping around to lenders. This inherent trust I value VERY seriously and using social media to express it will only allow me to grow my business significantly. Lead generation is one thing, but lead pull through is another.
Thanks! Good luck to all in 2010!
Thanks! Good luck to all in 2010!
- Spencer Rascoff, "spencer"
- Contributions:2093
@theRECoach
Upon re-reading my comment, I think I was overly negative on SMM. What I was trying to convey is that when I hear trainers, SMM experts, agents or brokers stand up in front of large audiences and tell everyone there to get on twitter asap, I cringe. Personally, I love twitter and use it all the time. But it's not for everyone. And I definitely don't think every type of agent will be successful using it to gain business. People like Jay Thompson, Kris Berg, Jim Reppond or Rhonda Porter are the exception, not the norm.
I just don't want people to think that if they start a twitter account and use it a few times it will be a silver bullet to improve their real estate business. Like anything else, social media is a tool. Used wisely, it can definitely help you win business. But like any tool, it can also be used improperly and be a waste of time and money.
Some agents excel by being dataheads, crunching numbers and being very analytical with clients. Some excel by being great interior designers, helping sellers improve the appearance of the home prior to listing. Some are great negotiators. Some are extremely considerate and compassionate and are great people-persons. And some are great at social media. (And of course, these things aren't mutually exclusive.)
The point is that while social media can be extremely valuable (I know it is for me, and for Zillow), it isn't for everyone, imho.
Upon re-reading my comment, I think I was overly negative on SMM. What I was trying to convey is that when I hear trainers, SMM experts, agents or brokers stand up in front of large audiences and tell everyone there to get on twitter asap, I cringe. Personally, I love twitter and use it all the time. But it's not for everyone. And I definitely don't think every type of agent will be successful using it to gain business. People like Jay Thompson, Kris Berg, Jim Reppond or Rhonda Porter are the exception, not the norm.
I just don't want people to think that if they start a twitter account and use it a few times it will be a silver bullet to improve their real estate business. Like anything else, social media is a tool. Used wisely, it can definitely help you win business. But like any tool, it can also be used improperly and be a waste of time and money.
Some agents excel by being dataheads, crunching numbers and being very analytical with clients. Some excel by being great interior designers, helping sellers improve the appearance of the home prior to listing. Some are great negotiators. Some are extremely considerate and compassionate and are great people-persons. And some are great at social media. (And of course, these things aren't mutually exclusive.)
The point is that while social media can be extremely valuable (I know it is for me, and for Zillow), it isn't for everyone, imho.
- Andrea Geller, "AndreaGeller"
- Contributions:465
I did have several agent to agent referrals where the referring agent found came to know me on Facebook and/or Twitter.
I also had personal referrals from people who where reminded of me through social networking sites.
More recently I have gotten several buyers and listing opportunities(one I entered today) from clients who found me by searching profiles on this site and the "T" site. They have said they saw so much about me when they "googled" me.
I think about about social media the way I thought about billboards. If you have enough of them properly located, they are effective in a viral effect in capturing business. Social media is so much better. I am not spending tens of thousands of dollars.
- Dave Woodson, "davewoodson"
- Contributions:1
2009 was a good year for me. I would have to say through my blogs (seo) Facebook and Twitter. I would have to say 12 of my mortgage applications were from those sources. 2010 is going to be double if not more than that.
Dave Woodson
Dave Woodson
- TheRECoach
- Contributions:2
Wow Spencer, I actually disagree with your comment on "seasoned" Agents with referral business. because I consider Zillow Answers (and Trulia Voices) SM, your assessment surprised me. Even those Agents with referrals will fade and ultimately die without Little Johnny and Suzie, the children of their "Cash Flow". No longer will they simply choose a Realtor, simply because Mom and Dad used them (or their parents). If they do not "connect" in a real way with Gen X and Y, who use SM almost exclusively for information, they will find an gent who does. Smart "seasoned" Agents have a plan. the plan includes placing a value on their portfolio for retirement (or it should). The value of that portfolio will be directly related to its lifespan. Grow or Die my friend! I'm 47, I started this crazy stuff about 4 years ago. Heck, it's easy when you get in a flow! Remember what Nike says..."Just Do It"!
TheReCoach
- Thomas A B Johnson, "Agent21"
- Contributions:380
As Jay said, SM includes blogs. Our blog = our website. Facebook and Twitter are zeros for production, but are invaluable for market strategic intelligence.
- Jay Thompson, "PhoenixRealEstateGuy"
- Contributions:31
If you count a blog as "social media" (and I think it is) then the answer for me is 29.
I can attribute 5 closings (and one failed listing) almost exclusively to Twitter, the rest from the blog.
I can attribute 5 closings (and one failed listing) almost exclusively to Twitter, the rest from the blog.
Am also working on a listing lead from Zillow that came almost 7 months ago.
2 of my RE sales in 2009 came from zillow.
- Daniel Guest, "danielguest"
- Contributions:6
Kathy,
I'm in the insurance business and get almost 20% of my business through social networks, primarily through referrals from Realtors. Feel free to contact me, I'd be happy to share.
I'm in the insurance business and get almost 20% of my business through social networks, primarily through referrals from Realtors. Feel free to contact me, I'd be happy to share.
- Spencer Rascoff, "spencer"
- Contributions:2093
I've been told of successes through social media by many agents. But I do think it's a bit overhyped. The important thing to remember is that it's not for everyone. Some agents are great at it and will be very successful gaining business through blogging, participation in forums such as this, and occasionally twitter. But the vast majority of agents aren't going to be good at it so they shouldn't invest too much time in social media. Too often I hear industry experts present social media as a panacea for every type of agent -- untrue.
Jim Reppond, one of the agents who has been very successful with social media, said it best at a recent REBarCamp in Seattle: Social Media can make some mediocre agents great, but it can also make some good agents very bad (because of the distraction).
If I were starting out as a new agent without a lot of existing clients, I'd definitely spend time on Social Media to get my feet wet. But if I were an experienced agent with a lot of referral business coming in, I'm not so sure...
Jim Reppond, one of the agents who has been very successful with social media, said it best at a recent REBarCamp in Seattle: Social Media can make some mediocre agents great, but it can also make some good agents very bad (because of the distraction).
If I were starting out as a new agent without a lot of existing clients, I'd definitely spend time on Social Media to get my feet wet. But if I were an experienced agent with a lot of referral business coming in, I'm not so sure...
- Markus Azadeh, "remax_pro"
- Contributions:86
In 2009, a family that was looking to purchase a luxury home in a neighborhood that is covered by and discussed in my blog, found my blog by googling that neighborhood. They ended up buying a $1MM home through me, in that neighborhood, last spring. I don't run ROI figures on my social media activity, but that client right there, whom I probably would have never met without my blog, more than covered my monthly hosting expenses for years to come, let alone ROI.
- Geordie Romer
- Contributions:122
I guess it depends on your definition of social media - do blogs count or just Twitter, FB, LI ?
In 2009 I had 1 closing directly related to my Twitter account. I had 2 closings from a specific blog post about Kahler Glen and I have 1 pending sale based on activity on Zillow.
My Leavenworth real estate blog does bring me lots of business. It also helps me keep in touch and keep educating my clients. Both past and future clients rave about it and it's even gotten me an interview in the NY Times so something must be working.
And how successful has my print advertising been in 2009? Yeah.... you're right.
In 2009 I had 1 closing directly related to my Twitter account. I had 2 closings from a specific blog post about Kahler Glen and I have 1 pending sale based on activity on Zillow.
My Leavenworth real estate blog does bring me lots of business. It also helps me keep in touch and keep educating my clients. Both past and future clients rave about it and it's even gotten me an interview in the NY Times so something must be working.
And how successful has my print advertising been in 2009? Yeah.... you're right.
- Geordie Romer
- Contributions:122
I guess it depends on your definition of social media.
I only have 1 closing that I can easily attribute to Twitter. However my Leavenworth real estate blog brings me lots of business. This post on Kahler Glen condos lead directly to 2 sales, much like a related post on Active Rain did in earlier years. My participation on Zillow lead to a sale as well.
Harder to measure is how well my blog and twitter accounts help to keep me at top of mind with my existing clients. Judging from the great comments I get, I think it's working well.
I only have 1 closing that I can easily attribute to Twitter. However my Leavenworth real estate blog brings me lots of business. This post on Kahler Glen condos lead directly to 2 sales, much like a related post on Active Rain did in earlier years. My participation on Zillow lead to a sale as well.
Harder to measure is how well my blog and twitter accounts help to keep me at top of mind with my existing clients. Judging from the great comments I get, I think it's working well.
- sara bonert, "Sara Bonert"
- Contributions:920
Let's use social media to answer your social media question! Drew Meyers just asked your question the audience of the Geek Estate Blog as well. Link here.
- Ann Gioe, "agioe"
- Contributions:29
2009 was my year of getting into the social media.....so no actual results as yet. I created a blog, got on Facebook, Twitter, Active Rain, Linked In, etc. I feel like I am getting more exposure and am working on the quality versus quantity at the moment.
What closings did you have in 2009 from social media; what sources and how many units. What ROI?
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