I believe it is still a theoretical debate. There have been no tangible data put forth as of yet. Not that I have read or experienced. Sure, there are some hits and misses from Trulia or Activerain, to use 2 examples, but how could I say, with any authority, that I would not have met the same number of prospects when I run the trail.
We Realtors must be frank and admit we are the biggest group of marketing scheme suckers on the planet.
Referrals and partnering is where most of our business comes from. That's undeniable! Relationships are the core and , I guess, we will eventually learn the finer points of building them online. LOL match.com comes to mind as an extreme example. I hear relationships can start there, online in the 2.0.
Looking forward to this threads possibilities! Thanks Inhouse lender.
Don't forget to 'friend me' on Facebook, Twitter and my Fan Page...read my blog and comment! ;oP
The caveat to be aware of is YOU ONLY GET OUT OF IT WHAT YOU ARE WILLING TO PUT INTO IT.
You need to be persistent, consistent and provide content that is interesting to your target market.
You need to educate yourself on the best ways to brand yourself and your business to allow social media to help you.
Social media is only a forum. It is up to you to use this forum efficiently and to your best interest;
My blog brought me 4 transactions and 2.8mm in settlements last year. Is social media worth it.
I will say that utilizing Social Media to spread or market your self is the future, like any other Medium you will still have to bring content. Trulia is a great example of this, how many times do you see agents come in here after some seminar they went to and spam every question in there area. That doesnt work in real life and it doesnt work on the internet. This only further alienates yourself from buyers and agents, these agents missed the message. I doubt the top Trulia agents spend as much time as they do answering questions with quality answers on here for leads only.
I will say this, Facebook in my opinion is the fastest growing Social Media site and the site that most impresses me with its ability to have people opt in to hear what you have to say. Utilizing a Facebook page is one of the best tools that i am working on personally. I just started to use Facebook personally more and more and reconnect with family and friends daily. It is changing the way people communicate. I started my Facebook Page yesterday and already have up to 50+ fans and to me that is great but if i cant communicate and bring content, or my posts start to feel like spam they will opt out. It is real time feedback on whether your message is being delivered correctly.
A Broker recently contacted my page and asked me to save a deal for them, i will have there approval by the end of the week. Facebook brought that lead to me, and i know i will be able to help more people in the same manner. I am really excited to utilize and fine tune all these outlets we have in 2010.
Twitter is ok and if used correctly with your Facebook page is just another outlet to spread yourself out into the world. I haven't utilized or spent a lot of time on there but i do really appreciate some of the content from other agents there that i follow. Fellow Trulia agents on there, and Trulia itself provide me with daily articles and updates that keep it easy for me to get my daily fix of Real Estate and Mortgage News and topics.
Thanks for starting an interesting discussion. I think the key to online connections though is that they then have to lead to something real. They are not an end in themselves. It's meeting the people, but then it's taking it to the next level to actually connect in real life and do business. Just my 2 cents. Actually, 3 cents, correcting for inflation. Wait, it's a down market, okay 2 cents.
The agents who are regulars are VERY knowledgeable and I REALLY enjoy there answers as they are usually very spot on with-in there fields of expertise. I not only have gotten leads from trulia, I also feel as Michael and you do that, if we do meet we are not strangers as we have gotten to know each other a bit through our postings and I believe next to personal contact this is a great way to interact in our profession.
@Avenger: I suggest that you file complaints with the appropriate authorities in your state of Fl and your local County entities. This thread was started to discuss social media not as a medium for complaints.
Avenger, You could start your own discussion by posting a question as to where you can post your complaints to get the most visibility. Obviously, you were treated poorly and should make every effort to help notify / warn others. Having an authority make legal inquiries is a great start.
I first experienced it when a client who was an early blogger wrote about me and another buyer contacted me from that blog.
Whe I was working at a small start up brokerage I used it to recruit agents and had the opportunity to have an agent that was relocating from another city contact me to hang her license with me. When we first met she knew who I was and what I stood for. She had made her decision to work me from her research.
Most forms of advertising that we do is to differentiate each of us and get our names out there.
Social media is a very important tool at this time. I feel it is more effective than direct mail or the glossy Land & Home magazines.
Trulia I follow pretty closely and I have gotten a couple of good leads from Trulia.
I am not a huge fan of Twitter because I am too verbose to be very effective there.
I find Linkedin to be a good resource for referral business but not a good lead generation tool.
Do I think Social Media has a use, yes. Do I think it is going to be a good resource for business for me? Probably not other than name recognition. We are too small a community for there to be a lot of opportunity for leads from this resource. In larger Metro areas I can see where it might do more good.