The problem with social media marketing - it's still push marketing
The sales methodology of the real estate industry is unique. Its sales force, primarily agents and brokers, needs to market themselves widely to a local community in order to capture transactions that happen infrequently. The traditional way has always been a form of promotion, or "push marketing" - advertising, drip email marketing, direct mail, open house guest book trolling. The net effect of a generation of million plus real estate agents trying to get their foot in the door with any consumer has spawned the stereotypical image of the glad handing agent.
With the real estate industry's new found craze for Facebook and other social media as a channel for networking, the same traditional push marketing methods are being recast. Agents slap up Facebook fan pages, write blogs and tweet out their listings with the same messaging either overt or hidden within their conversations - see how good I am and what I can do for you. One trend is Farming 2.0. Agents on Twitter often follow everybody in their hometown hoping on the off chance that they are in the market. The problem with this approach is spammers do the same thing.
The community blanketing approach of say, inviting everybody to become a fan of their Facebook page, may not work with the potential client down the street who wants a professional, not a social relationship with a Realtor. These tactics need to change before the agent's reputation as a flycaster for leads precedes them in their evolving community social space.
What the real estate industry fails to grasp is the concept that the social media makes its participants transparent in the long run. From the consumer perspective, it's obvious that someone is a broker or agent simply by reading their profile on, say, a HomeGain web/blog system or examining their conversations on the social media. The online profile, built and polished for marketing purposes, is always there, and it's unbecoming to promote and push constantly like a never ending commercial. So what should a real estate agent discuss on the social media if not continually blasting away about the great buying opportunity we're in?
At Home Gain Nation March 1, we'll talk about community engagement strategies and how they complement the HomeGain product set. I hope to see you there.
Further reading:
on Active Rain:
on Media Transparent:
If you're a real estate agent or broker I can see how all of your friends and neighbors are going to be under some pressure when it's their time to buy or sell some real estate. All of the social networking seems to be a chance to advertise yourself and yet I'm still waiting to hear from one person that's now doing business with someone that they actually met over a social networking website.
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Finally, some pearls of wisdom. I believe you nailed it. There are a lot of so called experts in social media for Realtors teaching the same old "Me" advertising/marketing. We Realtors can not be brain washed into the same marketing/advertising mantras of the past.
Today's consumer is the most educated real estate consumer in the history of this country. We are at a point or close to a point where the consumer knows more than the average Realtor. Realtors need a paradigm shift from the "Me" promotion to the "Information Specialist" or "Advisory" position. What you did for dinner last night, what you did for entertainment over the weekend has no value to the real estate consumer. Those stating that the public wants to see that we are one of them (human) by posting nonsense are obviously not selling real estate anymore and are totally out of touch with the current real estate marekt place. They need to get their feet back in the street!
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Fine line on how to get the word out that you are a professional Realtor looking to help people buy/sell real estate and Sales people to death. Social media is not a place for that, but subtle references to your job mixed in with professionalism will work in that world. Great post.
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The simple fact is most real estate agents are simply under qualified to market and sell anything. Most grasp at social media just like they do everything else. Realtors gave away the store when they allowed companies like Zillow and Trulia to exist - rather than build and promote their own online presence - so why should anyone be surprised they don't really understand how to use social media. One must remember that the vast majority of agents are barely successful, but there is a vast industry that makes money off of their lack of skill and knowledge. In fact, if you do a poll of push vs pull marketing, how much understanding would there really be?
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First I want to say there are no experts in social media yet and I certainly am not one. It is all too new. I agree that the same push marketing will wear thin especially on facebook. One of my friends just posted this "I don't want to offend anyone, but I am getting sick of hearing all the sales pitches on some people’s status. Tell me about your kids, the funny story that happened at lunch I enjoy those posts."
He had the guts to say it I know a lot more people are thinking it because I have spoken with other friends that think the same thing.
I myself try to keep a 10 to 1 ratio. I also try to point my friends to a link or story that I think may be helpful or informative. I go as far as even pointing them to a blog that I wrote. I also have friends in the same industry so we can chat together about the industry and allow other to eave drop.
This is a great topic I look forward to other comments.
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