Facebook still tops the social media platforms in Australia with 15 Australians actively using it. It is still has 2/3rds more users than Instagram, and more than three times the users of LinkedIn.
But the days of being able to promote your real estate business successfully for free on Facebook have well and truly passed. These days, if you are serious about your Facebook real estate marketing you need to put your money where your mouth is, and pay for advertising.
FACEBOOK REAL ESTATE IS IN SHORT SUPPLY
If you think of spaces in the Facebook News Feed as real estate, it’s easy to see that there is intense competition for a very limited amount of space. 293,000 status updates and 136,000 photos are posted on Facebook every single minute. The more connections you have, the less room you have in your News Feed for everyone’s posts.
Facebook therefore has to give priority to the posts it thinks you will most likely to want to see. Posts from your friends and family are given priority over content from the brand pages you follow, and the branded content is prioritised based on how relevant Facebook thinks it is for you.
That’s why organic reach for page content has still dropped dramatically. In fact only 1-5 % of the people who like your page will see your post (the exact number depends on your number of followers and the virality of your content and is a big Facebook secret). So these days, unless you pay for an ad or a boosted post your content is unlikely to be seen by many. It’s the way Facebook earns money and it’s not going to change soon!
WHY FACEBOOK PAID ADVERTISING MAKES SENSE
It is therefore no surprise then that the best real estate agents are using Facebook advertising to reach more clients. It adds a further dimension to the property marketing mix, reaching out to potential a buyer and sellers – even those who aren’t actively looking yet.
It provides a way to further connect with local buyers and sellers, and has the ability to target posts and ads to your core demographic.
Facebook advertising is relatively cheap compared to most other forms of advertising, including advertising on the portals. For example, cost per reach typically for a ListingLogic campaign is $0.008 per person, and cost per view $0.02 – $0.04.
WHY IT IS TIME TO START FACEBOOK ADVERTISING NOW
Like all good things, you’d have to expect Facebook ad prices will rise over time as competition on Facebook from other real estate agents in your area increases.
Advertising to a custom audience of known potential buyers and sellers will ensure you get the best return for your investment, as your ad relevancy score will be high and your cost per reach therefore low.
That’s why it makes sense to jump on this bandwagon now. The time is ripe to start building your own custom audience of engaged property followers that you can continue to market and remarket to whilst prices are still relatively low.