Posts Tagged ‘real estate’

Boiling the Ocean: a new business model of Real Estate

How can I actively participate in the campaign and make it about the experiences, love, and family aspects of the home?

This Blog post follows on from Social Media challenging the norm: a new business model of Real Estate and Accessing Markets within Australian Property Industry

Participate is a verb and like any verb if you blindly execute without a strategy and plan you’re bound to fail!

So participation implies a plan to ensure your social media objective works. You want to ensure you reach the right demographic and establish trust and authority, but what is your plan? In analyzing this I have put together a 2 step strategy:

Understand your objective

Clearly my objective is to sell my home effectively and efficiently by engaging targeted communities through Social Media. This meant that I needed to create an experience that attracted potential customers (boiling the ocean) so that they’ share their personal details (condensation) so that I could market to them – basically I wanted an email address and contact information.

Planning the how

With the clarity of my objective I went through a three phase execution strategy, namely:

Facebook:

Aggregate my targeted demographic through Facebook and to do this I built a custom Facebook Fan page. Structured an advertising campaign (current Charges per click – CPC and impressions below) targeting a demographic of women, married, between 40-60yrs and specific geographic location.

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Does my seller’s agent have access to the right buyers?

Let’s face it in Sydney you have a 2-5 week window to find the right buyer for your property. This blog post builds on my previous post: Social Media challenging the norm: a new business model of Real Estate

The traditional “STONE” way that Estate Agents engage is:

1. Agent builds a “ready” network of buyers through franchise relationships or the agents own personal network – “database”
2. Print advertising in publications like North Shore Times and Domain North
3. The Franchise network and listing on the agencies website
4. Listing on vertical aggregator websites like of Domain or Real estate

The notion of social media is to place your brand, experience, the WHY and leadership in the middle of your customers and prospects. Clearly social media isn’t the place to peddle products and services! It is about relationship and trust!

What then is the quickest way to access the right buyers? Who are they? What are they looking for? Where are they spending their time? Who do they trust? Who has the relationship with these current or prospective customers?

With my Social Media hat on I examined where the buyers/customers were:

Facebook

44% of the Australian population is on Facebook, over 340,000 new users since last month (July2010), 50+ age group grown by 9% and 35-49 age group grown by 5%. Clearly as the chart shows if we wanted access to these potential buyers we needed to be amongst them!

Click on Image to see larger view

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Social Media challenging the norm: a new business model of Real Estate

Have you ever looked at selling a home and thought:

1. Does my seller’s agent have access to the right buyers?
2. How effective is my agent at establishing a targeted campaign against a specific demographic?
3. How can I actively participate in the campaign and make it about the experiences, love, and family aspects of the home?
4. How can I measure the marketing investment sought by my agent (ROI)?
5. How can my agent create participation and engagement into the campaign?
6. How can the agent find and attract buyers that are in markets where the agent has no presence?

Well I have and did contemplate the questions above, actually on the very same day I watched the “Bronze age Orientation Day” Video – a must to see!

So then I went about examining if Social Media could help my agent and I engage with online communities to generate exposure, opportunity and sale my home (which is more than a house …. it is love, care, family, experiences and future possibilities).

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