Facebook and Instagram are the platforms you must use to make it in real estate in 2019. That’s what self-proclaimed gurus tell you in their Facebook Ads. Buy their course and you will be rich in no time.
Most Realtors believe they must use Social Media to stay relevant and grow their business. That’s why classes on the topics of personal branding and Facebook marketing fill up every time.
Here’s my opinion on why social media is NOT the best solution to cure all your marketing woes.
It Takes a Lot of Time & Consistent Effort
The other day I listened to an interview with Gary Vaynerchuck. He’s the uber-guru that all social media experts refer to when they sell you their magic marketing systems.
In this interview he told the story of his sister who became a Realtor. She sold only one house in her first year.
Only one house? She had the best mentor in the world when it comes to social media marketing. He surely could have helped her get more leads!
If you listen closely Vaynerchuck always tells his audience that social media is a long-term game.
In order to create your own personal brand, you have to become a media company. You have to create content that people want to consume (watch, listen to, read). And you have to do it consistently.
Don’t jump on the social media bandwagon if you can’t commit to produce INTERESTING content every day for the next 3 years.
Is Facebook Advertising Really That Cheap?
Facebook ads are cheap, but they don’t convert.
Facebook users are browsing – not searching. They may be curious about a listing or the value of their home, but they don’t have any serious intent to buy or sell.
We’ve been testing Facebook ads for a number of years. People click a link and get to your website for as little as 50 cents a lead. We generated hundreds of listing leads by offering free home valuations, but not a single one converted.
The savings you realize by generating cheap leads on Facebook are completely lost by an expensive conversion process that takes more than 1 year.
How Many Prospects Are Not on Facebook?
Not every home owner or buyer is using social media.
According to the Pew Research Center 68% of American adults use Facebook. It’s a little higher for younger age groups, lower for those 50 and older.
This means you can’t reach 1/3 of Americans on Facebook (assuming that the other 2/3 actually browse and see your posts).
Personally, I don’t have enough time to watch every Facebook video, not even of the people I like and follow.
And, I am certainly not interested in everyone’s daily opinions, even if they are a celebrity (which most of my friends are not).
There’s not enough time in the day to seriously build a business and watch video clips of people documenting their daily life.
What’s the Solution?
Implement solid marketing and prospecting systems that generate motivated buyer and seller leads NOW.
You must put in the work! Social media is not a silver bullet that makes your business explode.
Don’t waste hours socializing on Facebook if you don’t have a strategy for generating leads. Don’t just try to build your personal brand.
It helps if you have a marketing budget, but there are many ways to generate business without a lot of money and without social media.
I know Facebook is fun, it’s easy, it keeps you busy, you won’t get rejected, but you will be out of business in no time if you don’t focus on generating leads, setting appointments, and converting them to real buyers and listings.