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02. Social Media For Real Estate

June 4, 2018

In this episode, we are discussing the importance of social media in the marketing of your home, and why vendors need to consider incorporating social media into the marketing for the sale of their home, among many other important considerations when it comes to social media.

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In this episode we cover:

  • Why social media is so important as a marketing channel in 2018;
  • Why vendors need to consider incorporating social media into the marketing for the sale of their home;
  • The value of social media in capturing ‘passive’ buyers as well as active buyers;
  • The two elements of a successful social media marketing campaign for selling a home;
  • The power of creating property video that tells a story about a home;
  • The power of Facebook advertising and the ability to target specific audiences;
  • How digital and traditional advertising can work together to capture the whole market, create competition and ultimately drive a premium price outcome;
  • The ability to track and measure the success of a social media campaign;
  • What remarketing is and how it can be used to amplify your marketing campaign;
  • The power of Facebook live and how to use it to preview properties before they hit the market;
  • How rapidly social media is changing and the opportunity that it presents for sellers;
  • Channels other than Facebook and Instagram to consider, including LinkedIn and YouTube.
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Intro:

Welcome to the Brisbane Real Estate Podcast where each week we'll be answering all of your questions relating to the local property market with CEO of Place Estate Agents Damian Hackett. Be the first to get market insights, trends, and tips on everything you need to know when it comes to Brisbane real estate. To download a copy of our free Brisbane Property Report head to eplace.com.au/podcast.

Damian Hackett:

Hi, and welcome back to the Brisbane Real Estate Podcast. It's Damian Hackett here, CEO of Place Estate Agents. Today I'm sitting with Stevie Dillon. Stevie is someone who has got a very unique and interesting background. Stevie first studied a law degree, worked in law for a period of time, then decided to make a switch into marketing, got her marketing degree, worked in a number of different organizations as a marketing manager, and was head of our marketing here at Place for a number of years. More recently, Stevie has opened up her own business consulting in social media marketing and content management. Welcome Stevie.

Stevie Dillon:

Hello, how are you?

Damian Hackett:

So Stevie, obviously every business these days has a presence, or needs to have a presence, in social media and it's come a long way over the recent years. As far as it relates to property and real estate, is it really worth it? What do you think?

Stevie Dillon:

So yes is the quick answer. What I would say though is it's not even kind of as it results to property and real estate. I think for every industry it's so important because at the moment it's a hundred percent where the attention is. So whereas a few years ago you'd look at things like billboards and traditional forms of advertising, I mean they definitely still have a place. These days everyone's on their mobile phone, and they're constantly looking at it, and it just makes sense and it's so important for all businesses to have a presence there, and then also to make sure that you're maximizing what you're doing in that space as well, and using it really smartly.

Damian Hackett:

I guess you're right from that respect as far as people always looking at their mobile phones.

Stevie Dillon:

Totally.

Damian Hackett:

I can see it in the mornings when I drive to school in traffic. If you look across the people waiting at the bus stop, no one's talking to each other.

Stevie Dillon:

No.

Damian Hackett:

There just sitting there looking at their phone and scrolling through whatever it is-

Stevie Dillon:

Yeah. For better or for worse.

Damian Hackett:

So it's obviously getting the attention of people.

Stevie Dillon:

Yeah.

Damian Hackett:

So Stevie, how important is social media in the marketing of someone's property?

Stevie Dillon:

So when it comes to the marketing of a property, and I know from my background working at Place and in [Bendor 00:02:53] Marketing, it's so important to make sure that in order to get the best price possible in a particular market that as many people as possible are seeing a property. That all comes down to clever marketing and making sure that you're placing a particular property and the advertising of that property where the attention is, so it encompasses a whole heap of different things. Newspaper advertising, obviously sign boards, and things like that, but when it comes to social media, and given that it's where the attention is, it's really important to use platforms like Facebook, and Instagram, and YouTube to give people that aren't necessarily looking on the property portals yet.

Stevie Dillon:

So in addition to those active buyers that are really in the market and looking for a particular property, giving the opportunity for people who are passive and may not be yet looking on RealEstate.com, and domain, and things like that the opportunity to have that property put in front of them and potentially broaden the market of potential buyers.

Damian Hackett:

Sure. Yeah. I guess from a print perspective it's a bit like people who are reading the newspaper and just happen to stumble across-

Stevie Dillon:

A hundred percent.

Damian Hackett:

-properties in the real estate section, so it's the same thing. People who aren't actively out there they pass it by, so that makes sense. So how would you recommend incorporating social media into a property marketing campaign?

Stevie Dillon:

So there's a few different parts to it, and it kind of goes down into two parts. Basically, the creative is the first thing. Facebook, in particular, loves video and it's something that, in terms of the marketing of a property, it can be a really powerful medium for getting a property out there. If you've got a great property video, and you're putting it out on Facebook, number one the platform prefers it.

Damian Hackett:

Sure.

Stevie Dillon:

And number two it's just kind of preferred by the consumers as well, so it really gives people an opportunity to get inside the property. Sort of inducted [crosstalk 00:05:00].

Damian Hackett:

I guess, as far as video goes, you can get your standard video that runs for 30 seconds, which basically does a tour of the home.

Stevie Dillon:

Yeah.

Damian Hackett:

Would you recommend that people invested a little bit more money into a video-

Stevie Dillon:

Yeah.

Damian Hackett:

-to tell a bit of a story and to stand out from the competition?

Stevie Dillon:

Definitely. And when it comes to social media, story telling is so important. It really comes down to really creating that emotional connection with the property. A simple video is great. It gives people, and potentially buyers, that aren't in the immediate vicinity of a property the opportunity to go through and have a look. But if you're investing a little bit more and you're really telling a story, people can imagine themselves and their family hanging out in there. It really creates that emotional connection, which ultimately is going to secure, hopefully, a premium sale price for the property.

Damian Hackett:

Sure. Playing people's emotions I guess in that case.

Stevie Dillon:

Yeah.

Damian Hackett:

Yeah.

Stevie Dillon:

Then the other thing is distribution. So the way that Facebook and Instagram work these days is not every single post is seen by every single person, so it's really important to consider Facebook advertising as a way of increasing your reach. The great thing about Facebook advertising for the present time, and most likely for the next 12 months, is that it's still really cost effective, so you can really cost effectively get a particular property in front of targeted people. What I mean by that is using the Facebook Ads platform you can target down to a specific area. You can target whether you want to reach males or females, a particular age range, and you can really put a particular property in front of the people that you think are most likely to buy it.

Damian Hackett:

Sure. So Stevie, would you recommend social media marketing to sit along side traditional media? Like you wouldn't just say, "Listen, just put it on social media.".

Stevie Dillon:

No way.

Damian Hackett:

Do you think it's all part of a-

Stevie Dillon:

Yeah.

Damian Hackett:

-process of really building interest and getting the property out there?

Stevie Dillon:

Definitely, and it just comes back to making sure as many people as possible see a particular property. The great thing about social media, and especially Facebook, is that everyone's on there. In Australia, I think 98 percent of people have a Facebook account, so it's a great opportunity to capture people that may not see a sign board because their not driving past, or the market for newspaper advertisements, or whatever. I guess it's complimenting the more traditional forms of advertising.

Damian Hackett:

Sure. Yeah. I guess you said the more different forms that people can do, particularly cost effectively, again the greater the chance of getting more people to see the property and hopefully creating competition, which will draw a price.

Stevie Dillon:

Definitely. The other good thing about social media marketing as well, as opposed to some more traditional forms of advertising, is that it's really measurable. So you can run a Facebook campaign, and you can track, and measure exactly what the effectiveness of the campaign has been, how many people have seen it, how many people have clicked on it. Then, what you can do from there, for the people that have clicked on a particular Facebook ad, for example, they've obviously shown interest. You can what's called re market to them and start to show them the property over and over-

Damian Hackett:

Okay. Yeah. You just reminded me.

Stevie Dillon:

-to increase the likelihood of them coming to an open home, or whatever.

Damian Hackett:

Sure. That's obviously a strategy that's used by a lot of advertisers-

Stevie Dillon:

Yes.

Damian Hackett:

-when you're online these days. Getting things over and over again.

Stevie Dillon:

But it's really effective,-

Damian Hackett:

It is, yeah.

Stevie Dillon:

-especially with the attention span of people these days. You could be looking at a property and you get side tracked. It just gives people the opportunity to go back to what their interested in.

Damian Hackett:

Yeah. Have you seen any examples of where a social media has helped in the selling of a property?

Stevie Dillon:

I've actually got a really good example. I was talking to an agent just recently. So one thing at Place that is in the content marketing plane for new properties is doing live walk throughs. So just before, or when, a property hits the market the content marketing girls will go out and do a live walk through of the property with a particular agent. It's just a good opportunity for people who are in the market to buy to almost get first dibs on having a look at a potential property that's about to hit the market.

Damian Hackett:

Yeah, sure. Get in there before the other buyers do.

Stevie Dillon:

Yeah. It's actually been really effective because I was chatting to an agent the other day and they were saying that someone inquired via direct message in relation to one of those walk throughs, and they ultimately ended up buying the home.

Damian Hackett:

Wow.

Stevie Dillon:

So, yeah. That's a direct kind of result, which is cool.

Damian Hackett:

Sure. Yeah, absolutely. Again, it can either be a direct result of that inquiry or I think, as you've said previously, it just could reinforce other parts of advertising the more people see something-

Stevie Dillon:

Definitely.

Damian Hackett:

-the more chance they'll get to have a look at it.

Stevie Dillon:

-Yeah.

Damian Hackett:

Are there any specific steps you think people should take when they're putting their place to the market, or that they should talk to their agent about as far as social media goes?

Stevie Dillon:

Yeah. I think that one kind of clever strategy is, yeah, previewing a property on social media prior to it actually officially hitting the market. That's a tactic that has been used offline for quite a while in terms of emailing a property out to an email database, or letting people know ahead of it actually hitting the market.

Damian Hackett:

Yeah.

Stevie Dillon:

But social media takes that to a whole nother level because it's where the attention is, and it's really giving you the opportunity to get it out to as many people as your ad budget allows.

Damian Hackett:

Yeah. It's that sneak peek isn't it [crosstalk 00:10:57] before other people do.

Stevie Dillon:

Totally. Yeah, a hundred percent.

Damian Hackett:

Do you find that the way social media works, and property, and general business is changing rapidly, and is it something that you're always struggling ... Not struggling, but given the opportunity-

Stevie Dillon:

To keep across.

Damian Hackett:

-to keep across?

Stevie Dillon:

Yeah.

Damian Hackett:

And where do you find that the new changes come from, is it overseas particularly? How do you keep on top of that?

Stevie Dillon:

So it's constantly changing.

Damian Hackett:

Yeah.

Stevie Dillon:

I actually put together a presentation the other day for a speaking engagement and, literally, by the time I had finished the presentation there was an announcement by Facebook that they had completely changed what they were doing with their Newsfeed, and the life span of that presentation was about two minutes.

Damian Hackett:

Oh wow.

Stevie Dillon:

That's a good example of it.

Damian Hackett:

Yeah.

Stevie Dillon:

And just recently, there's been some pretty significant changes with Facebook in terms of privacy and some issues around that. For example, they've taken away some of the ad targeting capabilities that you previously used to have. So look, it's constantly changing-

Damian Hackett:

Yeah.

Stevie Dillon:

-and it's really important to keep on top of it, but the opportunity is huge. Never before have we had an opportunity to really specifically target the exact person that you want to and then be able to measure the result. I think that's so powerful.

Damian Hackett:

Yeah. And I guess, as you said in the beginning, the people who are home buyers, or renters, etc. are soon to be across primarily Facebook and Instagram. Are there any other players that you can see that are worth focusing on in the future? I mean it seems to be the younger generation you Snapchat more so than Facebook.

Stevie Dillon:

Yeah.

Damian Hackett:

But then they're probably not buying houses or renting at the moment.

Stevie Dillon:

Not yet. So the benefit of Facebook and Instagram is that everyone's there. So Instagram is owned by Facebook, and obviously everyone's on Facebook. Instagram is the third largest social media platform. So it started out with a very young demographic, and it's starting to age up. And the benefit of Facebook and Instagram is that their ad targeting is really cost effective, and really powerful. That said, there's a lot of other platforms.

Stevie Dillon:

So LinkedIn can be a really powerful platform, and it's the second most popular social media platform in Australia. It's still possible to get really great organic reach.

Damian Hackett:

Yeah. I mean I would have thought, I know that LinkedIn's usually related to people changing jobs, etc, but would you say that, as far as property goes, it's ...

Stevie Dillon:

Definitely, and so probably the way to position it. It used to be very much a job platform and it was recently acquired by Microsoft, and they've really rebranded themselves. It's a content marketing hub and a education hub.

Damian Hackett:

Okay.

Stevie Dillon:

So in terms of property, it can be great for if you've got a property that you're looking to sell and it's that really professional market that you're looking at potentially buying it. Promoting that on there, and telling the story of the property, and informing people what the market etc is doing in that particular area can be a really affective way of getting in front of the right people.

Stevie Dillon:

The other one is YouTube. YouTube is the second biggest search engine besides Google and there's some really cool ad things that you can do around that.

Damian Hackett:

Yeah.

Stevie Dillon:

For example, if you're searching in Google for properties in Brisbane, you can then set up an ad on YouTube for anyone that has searched on Google within the last three hours and show that particular property to that person, so that can be really powerful.

Damian Hackett:

It just [crosstalk 00:14:43] shows it to them does it?

Stevie Dillon:

Yeah.

Damian Hackett:

Wow.

Stevie Dillon:

Yeah.

Damian Hackett:

Yeah.

Stevie Dillon:

So, yeah.

Damian Hackett:

I guess too, as you've said, it's a very interesting topic, it's something that's dynamic, it's changing all the time. Some of which you've obviously got a great love for. I guess social media really is an interesting topic. It's something that's dynamic, it's changing all the time, it's something that you've got a great love for and put a lot of time and effort into it, and you're getting great results. So it's just taken for granted now that social media is incorporated into property marketing packages and campaigns moving forward. So Stevie, thanks again for taking the time to come and chat with us today and giving up your valuable time. It's been great.

Stevie Dillon:

Thank you. No problems.

Damian Hackett:

Okay, and thank you for joining the Brisbane Real Estate Podcast. I'll look forward to chatting to you next time.

Speaker 1:

To download a copy of our free Brisbane Property Report head to eplace.com.au/podcast.