Traditionally seen as playing second fiddle to major property portals in terms of ad spend, social media’s role in real estate marketing is rapidly transforming.
Recent data illustrates just how many enquiries and open home attendances can be attributed directly to social media campaigns. The visibility of this data, and the ability to measure it, underscores a broader change in the industry: social media is no longer just a supplementary tool; it’s becoming a central player in driving real estate sales as you intercept traffic before it gets to major property portals.
Data insights: The foundation of strategy
Recent data from our Advance platform has illuminated a crucial link: a growing number of targeted social media campaigns are directly attributing to increased open home attendance.
Unlike traditional broad-spectrum advertising, these focused efforts yield tangible results – actual feet through doors, enquiries, and offers (what your sellers really care about), not just passive online views.
Tailoring open home campaigns, instead of the “batch and blast” approach
Marketing teams in real estate offices around the country know what Friday brings: it’s time to craft the ‘open home’ graphic to promote all of the open homes for their office coming up on the weekend.
While this isn’t necessarily a bad practice, its broad nature means these posts often get scrolled past in newsfeeds. You’ve no doubt seen or done this yourself!
There is, however, a more strategic approach that agents and their marketing teams should consider to drive foot traffic effectively.
Instead of a blanket promotion, each property should have its own dedicated social media campaign. These campaigns should be executed strategically – one the day before and another on the day of the open home. This approach ensures that each property gets the focused attention it deserves, catering to a more targeted audience.
The day before the open home, the campaign can highlight key features of the property, create anticipation, and provide essential details like the time and location.
For example, start at 12pm on a Friday and finish at midnight:
On the day of the open home, a reminder post can serve as a last-minute prompt, encouraging those who showed interest or who are in the vicinity to drop by.
Who are we targeting with these ads?
Not everyone. And that’s the crucial point.
In any market, give or take, there is roughly 2% of people who are interested in buying or selling. Instead of blasting a “look at all of our open homes” to everyone in the area, you’re creating one campaign per property and targeting only those who might be interested, including…
- Locals within a small geographic radius around the property between specific age groups and lifestyle attributes (those would identify as a potential buyer for the property)
- People who have enquired on similar listings with your agency (via the major portals), using enquiry data from your CRM
- People who have attended open homes with your agency recently, using open home attendee data from your CRM
- People who have visited similar listings on your website
This targeted method not only increases the relevance of each campaign but also significantly boosts the likelihood of the message reaching potential buyers genuinely interested in that specific property type or locality. By moving away from the ‘one-size-fits-all’ approach, agents can effectively cut through the noise of social media and engage with a more focused group of potential buyers.
But how much would this all cost?
Usually vendor paid and included in the marketing mix, a budget of $50-$100 per week for the life of the campaign (depending on the style, price and location of the property) is typically sufficient to run an open home ad the day before an open and the day of an open home.
Investing in social media campaigns should be a deliberate part of an agent’s budget, whether it’s vendor paid advertising (VPA) or personal marketing funds. This investment is not just an expenditure; it’s a strategic move towards concrete results.
As shown in a recent article, open home attendance is now eclipsing email enquiries when attributing both forms of enquiry from social media.
Measuring real return-on-investment from social
At the end of the day, sellers don’t really care how many views, Likes or Shares you’ve had if there’s no enquiries, no open home attendees and/or no offers, no matter how much you sell it. Measuring this data from social media campaigns can be tricky without the right tools.
Our Advance platform has been designed to help agents prove the power of social media to vendors. It empowers agents to seamlessly execute these targeted strategies, ensuring that every campaign reaches its intended audience with maximum impact.
Providing your vendors with data on past campaigns that have driven enquiry and open home attendance is going to put you well in front of other agents who are simply telling vendors they “do social media” – whatever that means.
Consider preparing a pre-listing kit brochure to illustrate how social media can be just as powerful as a campaign on the major portals:
The social media edge
With over 20 million active Facebook profiles in Australia, where users spend upwards of two hours per day on the platform, social media advertising emerges as a formidable force in real estate discovery. It’s an invaluable tool not only for complementing traditional campaigns but for intercepting potential buyers before they even reach major property portals.
Imagine the impact when your listing appears in someone’s newsfeed, captivating the attention of individuals who weren’t actively considering a purchase until they saw your listing.
As the real estate industry continues to evolve, the role of social media in driving open home attendance and engagement is undeniable. It’s no longer a question of if social media should be part of your marketing strategy, but rather how creatively and effectively you can use it to redefine the property buying experience.
This is your chance to leverage the digital landscape, to make your properties stand out, and to turn social media platforms into gateways that lead directly to your open homes.