Many industries have embraced social media practices to help business growth. Commercial real estate, however, has been slower to follow the digital trend. We’re now entering a time in history where the majority of home buyers are from the millennial generation. In part, due to this shift, there are a few major ways that social media can help to facilitate real estate deals.
Social media platforms have helped real estate firms to brand and build community awareness.
Having an online presence is important, and social media allows you to create contacts which can in turn, turn into customers and employees. Since certain sites, such as Instagram focus on imagery it makes sense that the site has seen increasing real estate activity. Facebook has also become a tool used by almost every real estate agent. By allowing agents to be found easily, alongside their firms, potential clients can find listings with just a few clicks.
Furthermore, social media lets users link to outside sources, such as apps like Zillow and Trulia. People want to have access to information without having to spend time on the phone or sending multiple emails. These apps have made it possible to view available properties and with one click, request more information sent to them.
Millennials are the most likely to use real estate agents, search engines, and mobile applications. A unique trait of the young generation is that they have shown higher levels of distrust than any other age group. When it comes to a first generation investor, not knowing who to trust will lead them to the internet as their first source of information. Platforms that help to compare brokers online can help those who are weary. These platforms can include real estate price ranges, contacts, locations served, and reviews to make it easier for inexperienced investors to navigate commercial real estate.
Social media profiles can also provide potential clients with insights that can demonstrate the agent’s expertise. Posting short videos or bits of advice is inviting interactions with users and showcasing interest in the community you’re trying to build connections with.
As commercial real estate adjusts to the millennial buyer their use of technology will continue to increase. This gives professionals in the industry the ability to broker deals and manage relationships with the potential for fast career growth. Using tech tools and the internet there will be a more efficient way to access listings information, investment and lending opportunities and buyers.