Social media important tool in the homebuying process

By: Jessica Weston

The internet has been climbing the ladder over the past several years as one of the most valuable tools in the homebuying process for buyers and, therefore, for realtors. In a recent study by the National Association of Realtors (NAR), “87% of recent homebuyers in the U.S. say they used the internet as an information resource during their home-buying process, and nearly 1/3 say they first leaned about their newly purchased home from an online channel.” And, with the recent craze about social media, the internet is also a powerful communication channel amongst friends, colleagues, and trusted industry experts. Given this data, it is very important that real estate professionals focus on the internet as a valuable sales tool to reach out to consumers and communicate with them.

Social media outlets are important platforms for real estate agents to share industry news, voice their opinions and promote their listings. Their words are trusted by those listening since their audience is typically friends, family, friends of friends, colleagues, and acquaintances. Gone are the days when traditional media set agendas by presenting information that represented unchallenged truth. Now, consumers are more likely to trust what they have seen, read or heard about a company if someone they know has already mentioned it to them. So, for home sales, all it takes is one real estate professional to begin a blog, post something on his/her Facebook page, and/or share a video of his/her home for sale to begin a chain of communication that reaches a broader audience than ever before. It’s like the conversation at the water cooler, but with hundreds or thousands of people as your captive audience! Word of mouth about a company or association drives trust. Trust drives transactions.

To capitalize on the world of social media, Coldwell Banker NRT Development Advisors will be hosting a series of ongoing training programs, called Socially Speaking. These sessions will educate our sales and marketing teams about how to utilize these outlets to effectively market their listings and inform prospective clients about the social media forums with which their target audiences take part.