For many, social media is the place to catch up on the latest memes, let everyone know what you had for dinner, and share copious amounts of dog photos. For […]
The 7 Most Common Reasons Real Estate Transactions Fail You’ve got the contract signed, the closing is approaching quickly, and the last thing you want to happen is for […]
For many, social media is the place to catch up on the latest memes, let everyone know what you had for dinner, and share copious amounts of dog photos. For real estate agents, however, social media can be one of the best tools in your toolbox when it comes to generating leads and referrals.
By strategizing smartly and focusing on key demographics, real estate professionals can wield their Facebook, Twitter, Instagram, and LinkedIn accounts like a net, constantly scooping up potential clients from corners you didn’t even know they were lurking in. And considering how many real estate agents are out there in your neighborhood, city, county, and state, the more refined your strategy, the more likely you are to stand out from the crowd and catch the eye of your next big sale before they notice someone else.
Here are four ways you grow leads and referrals through social media.
Figure Out Your Audience And Target Them
If there is anything social media is good at from an advertising perspective, it’s allowing you to pinpoint your audience and direct your message to them and only them. So why wouldn’t you take the time to understand exactly who that’s supposed to be?
It starts simply. How old are you target buyers? Do you sell starter homes to millennials or are you selling active adult community homes to baby boomers? Are you usually dealing with men or women? Do your buyers usually have college educations? Are they from a specific town or county? Is there a price range that your client base usually abides within? What kind of preferences do they often look for when buying a home, location or features? Ask yourself all of these questions and more in order to figure out the kind of audience you need to be targeting with your message.
Pick Your Platforms
Not all social media platforms are created equal. Just because something works on Facebook that doesn’t mean it’s going to work on Twitter. Users go to those sites for different reasons and with different goals in mind.
Facebook remains the gold standard when it comes to building up a dedicated audience and being able to target them with your message. Not only is it a requirement that you have a Facebook page but you also want to make sure you’re keeping it stocked with quality content that provides urgent messaging about upcoming property opportunities. Engage with everyone who comes into contact with your page, be it with a message, a comment, a like, or an invite. And take full advantage of Facebook Ads so you can target that message to potential clients and new audiences receptive to the properties and opportunities you’re offering.
Don’t sell LinkedIn short just because it’s more of a professional social media platform. Professionals buy homes, you know. Just as you do on Facebook it’s important to maintain a presence with a fully fleshed out profile and a steady flow of content. Consider how you can become an influencer here and build up a base of long-term client potential.
Instagram is a visual platform and who doesn’t think real estate works as a visual business? A steady stream of enticing and engaging image posts can help you quickly drum up a client base and influence potential buyers to reach out because the image in your feed is too much to pass up. Don’t forget the hashtags!
Twitter can be a tricky platform for real estate agents. It can be tough to build up a follower count even if you’re tweeting out content each day. In order to really build up a base, you need to not only share information but be engaging. Being a link farm won’t cut it. If you’re going to try it, really go for it. Tweet out thoughts, open-ended questions, and polls. Start a dialogue. Retweet others. Respond to contemporaries. Become a resource. The followers will, for lack of a better term, follow.
Hone Those Hashtags
We mentioned it before but it bears repeating: Hashtags matter. Especially when you’re starting out, hashtags act as a shortcut to reaching potential clients who are already engaged and interested in the ideas you’re talking about. It’s common to see Instagram posts laced with hashtags that connect new audiences to what you’ve got to say and, often, some of those people don’t just like, they follow. And when they follow, then you can hook them.
Don’t be afraid to think big with hashtags. Yes, you want to figure out the relevant and effective tags for your region and local buyers, but don’t be afraid to piggyback on national and trending hashtags. Check out hashtags that HGTV shows and national real estate brands are using and consider peppering them into your posts. You never know who is watching and clicking.
Don’t go too crazy, however. Too many hashtags, especially on Facebook and Twitter, start to make your messaging look like spam. On those sites consider focusing on smart choices. On Instagram, however, let loose with as many as 30-to-40 hashtags that make sense for what you’re trying to accomplish.
Get to Know Retargeting
Ever wonder how ads for items and products you’ve previously shopped for suddenly start showing up in random places on the internet? That’s ad retargeting. The strategy uses cookies that have been dropped on your browser that keep tabs on the sites you visit and things you do.
How can you put retargeting to work for you? Drop a tracking pixel on your website and then it will follow users as they travel to social media sites such as Facebook, Instagram, and Pinterest. The cookie lets your ad company know and it automatically sends whatever message you’d like to show up to their browser so they’re getting information about listings and properties that you want to promote. You can even target the ads so that they only appear for specific kinds of visitors (which is why we wanted you to figure out your key demo!).
This is just the start but if you can master these simple tips and tricks, you’ll already be ahead of the game and generating leads like never before.
The 7 Most Common Reasons Real Estate Transactions Fail
You’ve got the contract signed, the closing is approaching quickly, and the last thing you want to happen is for the real estate transaction to fall apart just before the closing date. Why do so many deals fall apart at the last minute? How can these fails be prevented?
Getting a real estate contract signed is just the first step in the transaction process. It’s when the real fun and work begins. This is where the best shine and gain an edge in their market, while the rest slink back off to oblivion.
Failed closings are tragic for a buyer, seller, and real estate agent or broker. They can be expensive, stressful and demoralizing as a buyer or seller. As a Realtor, they cannot only rob you of your paycheck you were so eagerly counting on but dent your reputation and make future business harder.
Depending on the market temperature and mortgage lending landscape anywhere from 3% to 30% of pending sales contracts can fall through. That number can be dramatically lowered, and completion metrics increased if all the parties involved are more knowledgeable about the frequent glitches and how to get out ahead of them.
Here are seven common reasons you deal could fall apart, and how to beat it.
This one should be no surprise. Appraisals are the notorious Achilles heel of real estate transactions. If it comes in too high, the seller can try to back out and relist for more money. More often, the appraisal comes in low. That can scare off buyers and wreak havoc with mortgage loan applications. As a Realtor, you’ve got to know your values and comps the way appraisers and lenders look at them. Know how to successful rebut bad appraisals. Have a plan for renegotiating or restructuring the deal with your clients in advance. Agents should probably consider taking the appraiser licensing course for their continuing education credits and master this part of the business.
For as easy technology has made the rest of our lives, mortgage lending is still incredibly inefficient. From gaps between pre-qualification letters and underwriting to continually changing influences behind the scenes, disconnected underwriters and meticulous paperwork burdens. Many issues can come up. Often they show up right at the last minute, the day before closing. Typically in final reviews and appraisal reviews. Agents can help their clients ace this by knowing loan program qualifications and quirks. Be sure buyers are working with a loan officer who will help them preempt any last-minute conditions that will stall the transaction.
Buyer’s remorse can be an issue. It’s easy to get a buyer to fall in love with a property and e-sign the purchase contract. The longer the closing takes, the more time they have to have second thoughts. If things start to go wrong, like significant repairs being uncovered, the market changes or their loan interest rate goes up. They can begin to drag their feet and sabotage the deal themselves. More commonly buyers accidentally undermine their home purchases by going shopping for furniture and racking up credit card and store debt during the loan process or quitting a job. Lenders will often do final re-verification right before closing and catch these items. Educate your clients, take time to explain these things and make sure they are sold on the deal upfront to avoid these problems.
Sellers can forget, be unaware of, or get hit with liens and new debts on their property during the process. This can deplete their anticipated sales proceeds or mean they have to bring money to the closing table to sell. That can cause many sellers to back out. These items can include past due property taxes, mechanics liens, HOA, and condo association special assessments, additional loans or lines of credit attached to the property and code violations. These surprises can be avoided by using an experienced Florida title insurance company who gets on the job to perform title and lien searches early and knows how to proactively tackle potential issues and keep the deal alive.
While the market has bounced back in a big way since 2008, the foreclosure crisis has also really messed up the titles and chain of titles on many properties. Between lender robo-signing fraud, overly creative attempts to stop foreclosure, auctions, and house flips, many properties are being advertised out there that buyers may not be able to get title insurance on. At least not to the level a new mortgage lender is going to expect. Pulling title early, or as a listing agent even ordering preliminary title searches and home inspections can save much stress, lost time and deal fails.
Some associations can be a real drag on real estate deals. Lengthy and inefficient buyer approval times, stringent qualifications and even personal prejudices can burn precious time or crush contracts. It’s smart to know your associations before showing buyers property and to work with other professionals who have relationships with them and know how to get approvals expedited.
Many of the above items can cause delays. As can sellers and buyers realizing their ID is out of date or being slow to send funds for closing. Some sellers and listing agents are gracious about granting contract extensions. Others get greedy and see a chance to grab the buyer’s earnest money deposit. Give your contracts extra time so that issues can be worked out and educate clients on the reality of trying to sue over deposit funds.
Have more questions about making sure your next real estate transaction sails smoothly to a successful closing? You can make the process seamless and hassle-free by contacting Title Partners of Florida.
4 Ways to Grow Leads and Referrals Through Social Media
UncategorizedFor many, social media is the place to catch up on the latest memes, let everyone know what you had for dinner, and share copious amounts of dog photos. For […]
The 7 Most Common Reasons Real Estate Transactions Fail
UncategorizedThe 7 Most Common Reasons Real Estate Transactions Fail You’ve got the contract signed, the closing is approaching quickly, and the last thing you want to happen is for […]