Monthly Archives: March 2018

How will the cryptocurrencies affect the real estate industry?

Bitcoin’s rising mainstream appeal is opening up innovative avenues for the housing market to entice a new type of customer, and other cryptocurrencies are starting to build momentum within the real estate industry. The industry is already trialling the use of digital currencies to pay for things like services, rent, services and sales deals.

Many businesses across the globe are now merchants that accept cryptocurrencies and the number is quickly growing.

There are already many news stories around of real estate agents and brokers accepting bitcoin as payment, and developers are also doing the same, with recent news headlines of a New York property developer accepting bitcoin for payment on a whole complex.

Blockchain and cryptocurrencies, although still in their early stages, have so much potential to change the way real estate is attained and traded.

The main potential change is when cryptocurrencies, like Bitcoin and Litecoin, become more widely accepted as a form of currency to conduct property transactions.

The main issue with buying property with cryptocurrencies, is that the market is highly volatile, meaning that in the time it takes for a sale to go through, the price could increase or decrease in value substantially. If you take a look at the3 average time it takes for a home sale to close, (lets say 50 days as an example) and we look at the bitcoin price from November-December last year.

Bitcoin’s price on 6th November 2017 was $7,300USD, and roughly 50 days later, it hit record highs of $19,783USD. Now in the grand scale of things, that’s a huge difference for both parties involved in the sale. So, the volatility of the currencies like this make it very difficult to lock in a guaranteed price on a sale, and when you’re talking median house prices of around $550,000, using cryptocurrencies can seriously impact an end price for a contract.

Although the volatility of cryptocurrencies will remain an issue for some time, the technology driving it however, is a completely different story. New technologies based on the blockchain technology, like smart contracts will be used in many ways throughout the industry to increase security and will significantly reduce the time of real estate transactions.

This tech will allow contracts to be immediate, as well as instantaneous fund transfers, saving the broker ridiculous amounts of time.

Should you be using twitter as a real estate agent?

Social media is a big part of business, and if you’re questioning any of the social media channels and whether you should be using them as a real estate agent, you really should reassess what you are doing. Real estate is the business of communication and to succeed in 2018, you absolutely need to be hitting up every channel you can imagine, to compete with the rest of the field. Twitter is one of the best ways you can attract a new client base, and it’s one of the best cold calling channels you can use that doesn’t actually involve cold calling.

So, how should you use Twitter as a real estate agent?

Here are some simple ways you can get leads and more engagement with your realtor Twitter profile.

Twitter is one of the hardest social strategies to get right, and it might take some trial and error in making it work for you, but if you aren’t trying, you’re not gaining anything.

Brand Positioning

Before you even send your first tweet, you must completely understand your brand’s position. You must know whether you are going to use it as a personal account as an agent or business account as the agency, and with each choice there are certain rules you must follow to keep people engaged.

Personal profiles seem to get more momentum, but when it comes down to it, it relies on what your brand position requires of your presence.

Basic Rules of Twitter For Real Estate Agents

  • Always use high quality images or videos – tweets with videos and images have a far higher engagement rate.
  • Tweeting like you are speaking to clients at a networking event.
  • Engage with everyone, including your competitors–replying, retweeting and swapping contact details will always (eventually) get you leads.
  • Use high quality visual branding – use logos and high quality professional profile photos
  • Share your local content – be a community advocate, and your name will stick in the minds of others. People love to engage with material that is local.
  • Use local hashtags
  • Use twitter like you would cold calling. There is no better way to get in touch with hard to contact people than twitter. Utilise the convenience.

Recent Facebook news feed changes and how it affects agents

Facebook recently made a big announcement about changes on how the news feed will soon work, and a lot of questions have been raised about what it means for real estate agents and brokers.

Mark Zuckerberg’s recent announcement said, “The first changes you’ll see will be in News Feed, where you can expect to see more from your friends, family and groups. Recently we’ve gotten feedback from our community that public content — posts from businesses, brands and media — is crowding out the personal moments that lead us to connect more with each other.”

These ‘new’ changes aren’t really anything new in the grand scale of things, it is just what we already knew was coming. The thing is, if you are creating great content, you will get great responses. The feed however for personal pages will soon be showing less business posts, and less public content. What this means is that the stuff you post on your business page, (which currently reaches about 10% of your market without boosting or paid interaction), will reach even less people.

What do you do instead?

Well, business is going to need to become very personal. There is already a fine line between business and personal thanks to social media, however the key to the future is by using your personal account to connect with clients. It is very important to know though, that Facebook can tell if your profile is being used for commercial purposes and if they find you breaking the rules, you will be banned, so keep it personal.

Your business page is still relevant however, so don’t go deleting it just yet. It will still be useful for paid campaigns, and ad campaigns for people who want to find you, but of your existing page fans, less will see you, so you need to react, and now.

There is good news for real estate agents however, because the business has ALWAYS been and ALWAYS WILL BE about connecting with people. It’s always been about connections and relationships however now, it’s more important than ever for real estate agents and brokers to connect with clients on a personal level.

What you should be doing:

  • Reach out to clients on Facebook
  • Add them as a friend
  • Message them to let stay connected
  • Comment on their posts
  • Engage in their content on a personal level

If you do this all the right way, they will connect you with other potential clients at the drop of a hat.

As a real estate professional, the best way to utilise your personal Facebook account is to be interested in others. Keep posting your content, listings and videos on your Facebook page, keep it active and it will keep momentum.

As a real estate agent in 2018, you should be well in control of your Facebook Live experience, and on a personal level it is very important to keep this charging forward. Live video gets far better engagement than any other posts. This is simple. Master it, and you will be in full control.

Should you be using Instagram as a real estate agent?

As a real estate agent, your role is to communicate with people about your listings, and in 2018, there is many very good ways to engage with potential leads, and existing clients and that is through your social media channels.

The top ways people engage in 2018, is through video and photos. The one channel that works extremely well for these two types of media is Instagram. Instagram allows you to find potential clients, and it allows them to find you. The key to any form of social interaction for real estate agents is to get leads, and if you are spending money on advertising, you might as well be spending it on making your content better.

Engaging content is the key to high engagement from users when it comes to any channel of social media, and Instagram is very specifically saturated with great content for the purpose of people seeing it.

It is vital that your Instagram channel features the highest quality content you can afford. This means you need to invest in a quality camera, and a quality video camera to ensure your content is high definition. Low quality videos or images simply will not do. With so much inexpensive equipment around, there is really no reason you shouldn’t be investing wisely. Go Pros and similar HD cameras are one of the best investments you can possibly make, as are video drones. For under $1000 of tax deductible money, you can get a seriously useful way to create quality content worth sharing.

Instagram proactively works with brands and businesses to ensure your content works in the best way for you, and when it comes to knowing what you should be using as content, there are a few simple guidelines to follow.

•             Make it original

•             Make it relevant

•             Make it high quality

•             Automatic Cross-promote – Use your other channels to promote it

•             Use hashtags

•             Comment on other people’s posts

•             Use the Hyper Lapse Feature

•             Geotag your content

•             Use Video Tours of the Property

 If you need any help with social media, get in touch with our team. We have an expert on hand who can assist.