Where one entrepreneur sees hurdles to overcome, another sees an opportunity to be embraced.
It’s certainly no secret that things aren’t going well with the real estate market at the moment. Despite the questionable recovery of the economy over the past few years, housing prices have only rebounded slightly, not even reaching where they were at the end of 2010. And while economic indicators continue to look fairly optimistic in the coming year – better, at least, than things have been – the real estate market is going to continue to struggle for some time to come.
Now, you could simply accept that this is “how things are” and try to keep your head above water… or, you could see this an an opportunity to explore new marketing ideas for your realty business. The Internet offers a wealth of new marketing tools for real estate, and there is plenty of opportunity out there for any realtor to grow their business, even in a shaky market.
Read on for more tips on how to make the most of the Internet in the coming year!
Essential Online Marketing Tools For Real Estate
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Of all the new marketing methods available through the Internet, online video is probably the one you’ll first want to look at. People online love video, and it’s a great way to show off the properties you’re trying to sell.
Online real estate videos allow you to:
- Really show a property, rather than just having a few snapshots.
- Include a commentary telling viewers about special features of the property.
- Create interactive videos that allow people to have a “virtual walkthrough” of the building.
- Have people share your videos for you with interested parties.
This isn’t just speculation. According to one Australian real estate group, properties with videos receive over four hundred percent more inquiries than those without. It’s an incredibly effective way of getting word out about new lots for sale.
The same is true for sellers. In another study, researchers found that homeowners are 73% more likely to list with a realtor who creates online videos. And this was despite the fact that, at the time the study was conducted, only 12% of realtors offered video! That’s a gigantic Demand Gap that’s still getting filled.
Social Media Marketing Tools For Real Estate
Of course, social media is a great tool for more than just online videos. You should try to build and maintain followings on the major social sites, such as Facebook and Linked-In. Remember that you shouldn’t simply advertise yourself on these services. Join Groups or Circles that relate to your location or your industry, and try to make friends.
Also, realtors should take especial notice of Pinterest. This recent addition to the social media lineup focuses on pictures, making it an easy fit for real estate agencies. It also features deep integration with Facebook and other social sites, making it simple to share your pictures across the Internet.
Finally, you might also consider making your own mobile app. Freelance coders are cheap these days, and a simple app linking your social accounts and your own listings could be cheaper than you realize. Plus, all you have to do is look at the success that Realtor.com has had with their mobile app to see just how much potential there is in the mobile market.
However you go about it, try to focus on the positive as we enter another shaky year in the real estate market. Use this time to think about how you’re going to expand your online strategies and reach out to more people.
Remember, even in a down market, there are still millions of people searching for houses every day. You just have to use the right marketing tools for real estate to reach out to them!