Online options offer 'home' insights
Social media, real estate officials note, has become an essential piece of everything from promoting a listing to finding your next home, whether it's one you buy or rent.
There is the world of real estate before social media, and the world after.
Social media, real estate officials note, has become an essential piece of everything from promoting a listing to finding your next home, whether it's one you buy or rent.
"Making access to listings and property information more readily available. With so many apps and websites, you can find out almost everything you need to know when searching for property," Stephanie Rief, association executive with the Selkirk Association of Realtors, said.
Those looking for a new home or apartment can search the websites of everyone from local brokerage firms to national sites like Zillow. They can, Rief said, even apply for a loan on some.
That convenience can come with a cost, she cautioned.
"Unfortunately, in some cases, (it takes) away from local experts, Realtors," who know the area and its nuances," Rief added.
Sites abound with pleas from people looking for a new home, whether it's a move across the country or down the block. Online posts can, real estate officials say, reach hundreds if not thousands of potential clients or extend the range of a listing beyond the immediate communities.
From Facebook to Instagram, from Pinterest to Twitter, social media allows everyone from real estate officials to potential homebuyers and renters to explore a literal world of options without having to set foot out of doors.
Part of the attraction of social media is that it can be an easy way to reach a lot of people, online websites say. For potential buyers and renters, social media offers a way to get their foot in the door about a home for sale and an affordable rental that might be opening up.
"It allows for a broader range of potential renters to apply for rentals," said Rief. "It allows landlords to advertise to a broader audience, research potential renters, and attract tenants on multiple platforms."
The benefits are an easy sell: Social media and online websites offer more exposure to consumers, especially in areas that are not so readily available through traditional means of advertising.
Digital options can "drive" potential buyers to the listing brokerage or agent as well as generate leads for future transactions, allowing agents to position themselves as local experts, Rief said.
However, online options also come with a caveat as the potential for fraud also increases. The TLDR version: The "bad guys" have noticed them, too, and aren't shy about using that information for their gain.
"Increase of fraud, whether it be a fraudulent seller or landlord," Rief added. " Even buyers and notaries have more exposure to fraud when using online portals or means."
That convenience and expanded reach is both a good thing and a bad thing. Landlords and sellers are able to reach a wider array of potential clients; renters and buyers get a wider range of options. However, both sides need to exercise caution and recognize that as they have noticed greater access, so have those with less-pure motives in mind, Rief said.
From fake listings to real estate scams on Craigslist, and from wire fraud and escrow scams, potential scams abound and taking a step back if something sounds too good to be true is the first step.
"Because properties listed for sale or rent are so easily found online or through social media (along with owner information, etc.), it has increased the occurrences of fraud, as cybercriminals have become more thorough and sophisticated, and nearly impossible to catch should a transaction be completed," Rief said.
According to a 2021 National Association of Realtors report, 87% of people use social media as part of their strategy for finding a new place to live. The number is even higher by age group, according to a Forbes survey which found 87% of baby boomers searched for a home online while 94% of millennials said they used social media and online searches.
An article by Forbes in August found that despite its many positives — the ability to reach more people 24/7 — some real estate officials said it raised unrealistic expectations. Add in artificial intelligence and the ability to make something look like, well, anything, disguise and filter away flaws, it can be tough to manage clients' expectations.
Trends have a much shorter lifespan, Forbes found with something in vogue one week and out of favor the next.
With a plethora of online resources from real estate organizations, national agencies and home buyer groups — and round-the-clock television channels on everything from home trends, renovations and home buying, home shoppers are informed, have studied the trends and know what they want and aren't afraid to ask for it.
A quick online search will pop up millions upon millions of links, with everything on creating social media posts, defining social media goals and tips on marketing on social media. There are videos and reels as well as the best platforms, how to write a listing (or where to go to find the best home to find your needs).
Real estate website, The Close, which offers advice on real estate marketing, business development and technology, notes that 41% of those looking for a home begin their search online with all homebuyers surveyed using the internet to search for a home in at least some fashion.
Real estate officials on the website note that the most valuable content for homebuyers were photos, detailed information about the properties and floor plans of the homes for sale.
From an agent's perspective, social media can help create relationships with potential clients and nurture ones with longstanding clients. It can, according to the blog Hootsuite, help agents cultivate a network for support, training and connection.
The bottom line? Online resources are a great tool but talking to local experts who know and live in their communities can be invaluable.
