William's Places: Why Social Media Isn't A Real Estate Panacea...

Why Social Media Isn't A Real Estate Panacea...

Why Social Media Isn’t A Real Estate Panacea...

 

 

There have been a slew of recent posts on the usefulness of social media as a means of attracting business for real estate agents lately.

 

 

Ralph Gorgoglione wrote How many transactions have you closed as a result of Social Media? - this was a very insightful query on where we are getting business from via the Internet. Ralph’s question is a needed one, as it forces many of us to evaluate, as he did, where our business via the Internet is coming from…

 

A follow-up post with plenty of tips to help agents with their social media utilization was written by Peggy James - Who Else Isn't Getting Leads From Their Blogging Efforts On Active Rain?

 

Then Loreena Yeo recently wrote this piece - How Ready Are You For Business When Social Media Knocks At Your Door? - a guide for how to effectively use social media for business purposes.

 

But for all of the blogs that have been written that speak to the usefulness of being involved with social media for business purposes , I think that this comment by J. Philip Faranda on Mitchell Hall’s Real Estate Consumer Evolution: The Times They Are A Changing!  post is the most insightful, because it very succinctly states why social media isn’t a real estate panacea:

 

"Social networking is a sphere of influence tool, not a new prospecting tool."

 

DID YOU GET THAT???

 

Case in point: On Sunday evening, I had a three hour IM conversation on FaceBook with a prospective client concerning a real estate matter…a client who incidentally was a former student of mine. New prospect? No. Sphere of influence? Most definitely.

 

J. Philip expanded on his comment in Social Media, and Separating our Business and Personal Lives. Make no mistake, there are clear lines of demarcation between being involved with social media for its own sake, and using it as a means of reaching clients for business purposes. When we use it more for the former, and set up separate venues for prospects in our sphere to reach us for business purposes, then it would be very clear to anyone questioning whether they are getting business from social media as to what the most effective method to that end would be…

 

 

 

Greater Waterbury CT Real Estate FaceBook William James Walton, Sr. on LinkedIn William James Walton, Sr. on Twitter William  James Walton's videos on YouTube 

 

 

 

Courtesy of William James Walton, Sr. , Realtor, WEICHERT, REALTORS® - Briotti Group

Serving northern New Haven and southeastern Litchfield Counties (Waterbury, Wolcott, Prospect, Naugatuck, Middlebury, Southbury, Watertown, Thomaston and Plymouth)

 

Call William James Walton, Sr. Real Estate Agent with WEICHERT, REALTORS® - Briotti Group (203) 558-7463 for help with your real estate needs -buying or selling -  in Waterbury, Watertown, Wolcott, Middlebury, Southbury, Prospect, Naugatuck, Plymouth and Thomaston

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Comment balloon 9 commentsWilliam James Walton Sr. • June 24 2010 03:07PM

Comments

Good points William.  Seems like so many folks on facebook area so about 'pushing' their service etc at you rather than creating relationships first.  It always amazes me that  on occasionwhen a new person is added to Fb or linkedin they 'it's all about them' and nothing about building a relationship

Posted by Anna Banana Kruchten CRB, CRS, GRI, WLS, 602-380-4886 (HomeSmart Elite Group) over 9 years ago

I closed 3 last year as a result of social media. And 3 as a result of online classifieds. Im also about to get another listing as a result of social media and JUST picked up another buyer as a result of social media.

Posted by Ryan Smith (Keller Williams Energy Real Estate Brokerage) over 9 years ago

William,

I see you "get" it.  So many don't.  Pull versus push marketing 101.  I would love it if you post this to my group Facebook Fanatics.  I would like to feature it there.

Posted by Lori Churchill Cofer, Realtor - 509-330-0086 - Pullman, WA (Beasley Realty) over 9 years ago

Ryan - quantify exactly what mediums enabled you to do so, then we can have a discussion. What was discussed in all of the articles that I mentioned were specific strategies to utilize SM, or identifying what sites do not, or have not, yielded business.

Anna - Exactly.

Posted by William James Walton Sr., Greater Waterbury Real Estate (WEICHERT, REALTORS® - Briotti Group) over 9 years ago

Hi William,

Thanks for the inciteful post. Excellent resources. Have a great weekend.

Posted by Patrick White, Driven to bring New Yorkers home (Home Driven Realty, Inc) over 9 years ago

William,

Thanks for posting it to our group at facebook fantatics.  It is featured there!

 

Facebook Fanatics Group

Posted by Lori Churchill Cofer, Realtor - 509-330-0086 - Pullman, WA (Beasley Realty) over 9 years ago

Hey there, just wanted drop by & thank you again for participating in the Twitter blog experiment.  It looks like it's really been taking off :)

Posted by Michael Collins, CDPE, SFR , Wisconsin Short Sale Specialist Realto (*ROCK REALTY|Broker|Realtor|Real Estate|WI Short Sale Agent*) over 9 years ago

William....I think you make some very good points.  We do need to track the business value of SM and determine if it is a sphere of influence tool or a prospecting tool.

cosmic cow

Posted by Carra Riley & Declan Kenyon, Helping people Transition at all ages! (Brokers Guild Cherry Creek Ltd) over 9 years ago

Carra, depends on what aspect of SM we are talking about. ActiveRain, imho, is a prospecting tool, because we use it to provide information to consumers who may not have an agent in mind and we are looking to attract those customers and convert them into clients. Facebook is the way we stay on top of mind for those potential clients who we already know from other venues.

Posted by William James Walton Sr., Greater Waterbury Real Estate (WEICHERT, REALTORS® - Briotti Group) over 9 years ago

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