Real Estate 2.0 – Internet & Social Networking

By Morgan Rice Sales Associate with Macdonald Realty Ltd. (Squamish)

In 2007 the National Association of REALTORS® (NAR) completed a study of the various marketing tools buyers of real estate used to locate properties for sale. The result of this study showed that 85% of buyers use the internet to find the property they buy.

The impact the internet has had on the real estate industry is huge and absolute. The next generation of internet users are only increasing the need for internet marketing. The explosion of social media sites like Facebook and the use of video have allowed people to broadcast information over the internet for everyone to see.

The internet revolution has been so profound on the real estate industry that the Real Estate Council of British Columbia (RECBC) is currently revaluating its rules regarding real estate marketing because they are not adequate to cover the new realm of the internet.

NAR has appointed a social networking specialist. Todd Carpenter, a founder of RE Blogworld  to lead the effort to help NAR’s staff engage with members and REALTORS® who are using blogs, Twitter, Facebook, LinkedIn, and other social media channels to connect effectively with one another and with potential clients and customers.

What does all this add up to? The face of real estate marketing has changed forever. The old school real estate marketing techniques like bus ads, print ads and flyers are going away. Internet exposure for your property for sale will become even more important. Searching for properties online and communicating interactively with REALTORS® using social media networks will become the way business is done.