“By three methods we may learn wisdom: first, by reflection, which is noblest; second, by imitation, which is easiest; and third, by experience, which is the most bitter.”
– Confucious
2005. Social media drifted into real estate like a thick morning fog by way of the Rain City Guide blog. It was published by an unknown author named Dustin Luther, a gifted outsider who knew little about real estate but a whole lot about people, marketing and technology.
At that time, most folks in real estate had never heard of social media or blogging. Of those who did, most drew their understanding from MySpace, considered by many to be a creepy place parents feared.
As a result, most agents didn’t “get it.” In typical fashion, they chose to roll their eyes, fold their arms and discount it all. As usual, the world at large was wrong. They knew better. Most chose to not participate.
I believe that was a good thing.
Floodgates
Reports of Rain City Guide’s traffic grew. As did its ability to promote the agents writing for it. They saw results. Dustin’s reputation grew along with the notion that a blog might not only attract new business – it could well replace older, less productive marketing methods.
And so, crisp from the deep fryer of Web 2.0, blogs surfaced like zits across the face of real estate. Agents took to blogging like young chicks take to flying: lots of flapping, considerable clucking, few ever lifted off. For the most part, these blogs were poorly executed, blindly designed whiteheads of self-indulgent gibberish, sales scripting or outright theft.
The great promise of social media, transparency and connectivity that Dustin envisioned was fast becoming a window into real estate’s dark side.
I believe that wasn’t a good thing.
Tipping point
Realizing that composing 500 lucid words was more arduous than the slingshot advice crowd suggested, most agents traded in their blogs for Facebook and Twitter accounts by 2009. They believed their value proposition could be better served in 140 characters bursts and comments on photos.
It seemed viable. Agents are social people. These are social networks. Perfect fit.
So it seemed.
Agents proceeded with glee, posting what they were doing, what they were thinking, what they were thinking of doing. The few who advised agents to take into account reputation, branding, customer service — the things companies outside of real estate understood – were largely ignored.
After all, why would a consumer ever bother to follow or friend an agent if they didn’t “keep it real” or “get to know them”?
It did not matter. Agents found another receptive audience – each other – using these channels to broadcast meaningless banter that sometimes crossed the line of ethics, common sense and adult, professional behavior.
Some higher ups took notice – to little avail. Agents continued to wax flatulent. Videos and images of inebriated post-BarCamp folly, arguments, fights and personal attacks ensued.
Social media cast a fun house mirror reflection on an already poorly defined, stereotyped industry.
Social media peeled back an onion layer.
Eyes are tearing now.
I believe this a really sad thing.
Foursquare and…
For the most part, while real estate has seemingly embraced social media by now as a device, its use of it is all wrong – like using an Uzi to pop open a beer can. Look at the tweets, posts and videos from the obstreperous minority who chant social media’s praises and you scratch your head and wonder: what’s really there? A whole bunch of stuff that would be better served by opacity than transparency.
Look, I get it: social media has given agents a great new way to make friends with other agents. I’m down with that. I’m all for the sharing of information. But I wonder whether the visionaries of social media, those who lit the way for those of us who followed, ever imagined these public platforms would become so riddled with name calling, “spanking”, trash talking, and sheer vapidity.
On a recent blog post discussing Foursquare, the new folly for real estate’s social mediaphiles, an agent commented as follows:
“My clients want to see me both in a personal and professional perspective. Only showing one side of me is not being true to them or myself. If I’m out for lunch or running to the grocery store in the middle of the day, at least my client and prospective clients know that I am local and just don’t talk the talk.”
This is the sort of delusional thinking that drives agents to spill their guts on social media. You’re a Realtor. Not Waldo. I submit that the only time your client really wants to know where you are is when you aren’t returning their phone calls or emails.
Showing your true side in a professional environment is achieved by doing your job better than your competition. And making the deal happen. And providing the type of customer service that warrants having your face placed on currency. Being true to your customer is not a Foursquare check-in placing you in donut shop that merely beckon viewers to wonder about your diet.
The great promise of social media is out there in faintly lit pin light impressions poking through real estate’s darkness. A great agent blog here, a well-executed corporate Twitter account there. Those who do it right shine through.
The great promise
So here we are, five years after it all started:
- How many great, highly trafficked real estate agent or broker blogs are out there?
- How many brokerages have set up a video studio in their office and provided their local audience with ongoing market updates, advice and explanation?
- How many great real estate-based Flickr accounts exist?
- How many well-managed Twitter accounts are there in real estate?
- How many agent-authored Foursquare posts actually help their brand?
The great promise of social media lies in what Dustin introduced five years ago: a well executed local media channel authored by skilled people who devote time to creating quality content that people find useful.
Real estate people are capable of so much. Your hearts pump nectar. Don’t be fooled by social media and all its trappings. Refrain from posting everything. Make what you post count. Every single word you publish, video you film, comment you write, blog you post and tweet you leave can, at any one time, be isolated, taken out of context and turned into a professional liability.
Making friends is nice.
Taking digital marketing, branding, and your reputation seriously is nicer.
This is what I believe.
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Marc, Brilliant post and a must read for agents trying to figure out this social media (mania) thing, in particular the last paragraph. So many folks out there hawking the snake oil.
I certainly know I have stumbled around enough, tried things that works and other stuff that does not, made mistakes, and went down paths with no clear direction or thought for time spent. I am fascinated by the prospect of it all, yet it’s promise will be ever elusive as it continues to mature.
My focus has become more and more local, useable content, sharing of information, and less about focusing on complaining about what is wrong. Lots of heavy lifting but tons of reward in the years to come as some focus on building authority & readership in their markets.
Anyway doing my best to shine through and learn best practices – what a journey! Thanks for shining the light on the path ahead.
Love it!
Clients always are, always have been, tuned into station WIIFM.
WIIFM – What’s In It For Me
And that really needs to be the main focus – so when I post things on Facebook, or log into foursquare, or do a blog post, it’s primarily for two reasons:
For Sellers – we know what makes Berkeley so special, and can convey that to buyers for their homes
For Buyers – we’re able to help them determine the best neighborhoods for them.
And WIIFM is giving clients information so they know WIIFT (what’s in it for them)
The most common comment I hear from buyers is that the contacted me because our web site gave them a sense of neighborhood and community.
Others will have to talk about the efficacy of their blog, because I’ve only identified one client who came to me as a result of my blog, and dozens who came to me because of my web site. I’m willing to acknowledge that I’m probably not blogging correctly, and happy to learn how to do it better – but we’ve been very busy helping clients who are relocating here from San Francisco – or Victoria BC – or Nairobi Kenya and selling homes of clients who we met in person or were referred to us because we did a great job for their friends or family members.
The most productive agents in my area – they’re likely spending a lot of time on social networking – in person rather than online.
For many years I wanted to be the #1 Agent in Berkeley.
Never made that. Don’t expect I ever will. And it’s not important anymore.
Why?
Because one day I realized I simply wanted to be the happiest agent in Berkeley.
And Carol and I often feel that way.
Guess What – as a result of shifting priorities, Carol and I are usually in the top 10 of 500+ agents in Berkeley.
That makes me happy too!
Keep those thoughtful blog posts coming!
Ira
Marc,
Thanks for the great post and thanks so much for including Rain City Guide as a vision for a real estate blog. In many ways, I feel like I stumbled upon the early success of RCG more through the trial-and-error application of common sense than any special technical or marketing knowledge.
If I have anything to add to your post, it’s only that a few hours before you published this article, I posted some thoughts on foursquare… and came to very different conclusions. From my point of view, it seems that you’re not differentiating the value of building a referral network from the value of direct outreach to potential clients. As you note, the typical agent only wishes they could connect with their next client using social media tools, but mostly they are communicating with other professionals.
When you dig just a little bit, I think you’d find that when most agents say they are connecting with “clients” in social networks like Foursquare, what they really mean is they are connecting with their “referral network”. The reason they are tweeting, checking in, etc. is not to reach their next client (at least it shouldn’t be), but rather they are trying to build up a network of people who have common interests and will consider recommending them next time they hear of someone in need of a local real estate transaction. Whether this is more work avoidance than a productive use of their time is certainly debatable, but if you assume that their clients are actually paying attention to where an agent checks in on Foursquare, you’re giving the social network way too much credit.
Nonetheless, I think we both agree that it’s super important to keep anything that gets posted online professional and I’m often shocked at what some agents will make public. I also know that reaching and building a referral network is the bread and butter of many agents and often makes up a larger portion of their business than any direct-to-consumer marketing efforts. If I’m a fan of foursquare (and I am!), it’s because more so than any social network I’ve come across, it gives an agent that’s looking to build and extend their referral network the ability to solidify otherwise nebulous online connections by connecting more often with more people in real-world situations.
[...] Foursquare and five years ago: Recalling the promise of real estate and social media – Marc takes a look at how far we have come since 2005 and why most agents really fail in their [...]
“You’re a Realtor. Not Waldo.” I’m filing that under things I wish I had thought to say. Priceless.
Ditto to Kris’, ” ‘You’re a Realtor. Not Waldo.’ I’m filing that under things I wish I had thought to say. Priceless.”
Excellent post.
I am reading lots of chatter about peer-to-peer “referral networking” and a new moniker for that phenom, “social partnering.” (trademark pending)
The great blogs are doing their job, providing exposure for agent/authors, and driving business. Today a California media outlet ran an excellent story based upon Laurie Manny’s condo buyer expose in her blog last week. http://ow.ly/17TJd
The social media wave taking real estate by storm is not a wave where “every post counts”! On a very personal level I am very, very weary of the social media advice coming from quarters where there is little evidence of real estate success.
I see REAL ESTATE success garnered with great blogs like RCG and blogs authored by Laurie Manny, Kevin Tomlinson, Mary Pope-Handy and others. I am NOT hearing REAL ESTATE success stories about social media adventures on Facebook and elsewhere … There is occasional anecdotal evidence of success there, but little beyond that.
In a past life when I was a small child my Daddy brought me to a parade to see the Emperor’s new suit of clothes. I yelled, “But he isn’t wearing anything at all.”
I’m feeling a lot of deja vu around social media discussions that takes me back to that life.
In my business, my blog continues to be the backbone that holds everything else (twitter, FB, YT, et al) together. SM outlets are a nice way to get more content out there, as long as it points back to somewhere more substantial. Plus, it does give people a variety of ways to follow you or at least be around when they are ready to interact. Obviously, you have to have some common sense to make sure that when the customer is ready to reach out to you, they don’t find some embarrassing Halloween party pic or a sarcastic, petty rant comment that you left on someone else’s blog 2 years ago.
Marc, you seem to always deliver a masterfully written piece, and this is no exception. Well done. A great accompaniment to my morning coffee.
“For the most part, while real estate has seemingly embraced social media by now as a device, its use of it is all wrong – like using an Uzi to pop open a beer can.”
I think of it more as using a beer can to fire an Uzi =)
Whoa. Thoughtful, insightful, meaningful post, Marc. As you so skillfully articulate and what Dustin has done with RCG: provided “a well executed local media channel authored by skilled people who devote time to creating quality content that people find useful.”
“Those who do it right shine through” Kris Berg, Francis Flynn Thorsen, Ardell DellaLoggia, Jay Thompson (to name a few… Francis mentioned others as well) shine. Some more controversial than others. They question other issues in conjunction with providing their own. And though I have no idea how much actual business comes from their use of social media alone, what they do best is offer something USEFUL – to other agents AND consumers.
Question arises: as real estate professionals, is it not more important to shine for consumers more than our peers? It’s easy to get swept away with the mania of social media. (I, for one, openly admit to my addiction to tweeting, in which my family consistently reminds me of =) But I digress…an entirely different subject for another time…) Where is the mania coming from, us in the biz or the consumer?
As one who has yet to have an “official” hub of a web site and is new(er) to blogging, I shall consider your words before writing my own Marc. Thank you and to all who commented. Awesome dialogue.
Ever articulate and brilliant, Mr. Davison.
Social media is a ‘learning field’ for me; especially Twitter. I’ve learned more on Twitter than any RE class. Yelp is my preference, rather than Foursquare.
We are all navigating through the social media minefields as best we can. I use it to promote my area and share information.
My blogs remain my foundation.
@ Dustin, I disagree with some of your assumptions “The reason they are tweeting, checking in, etc. is not to reach their next client (at least it shouldn’t be)…” and agree with others. I’m outlining a follow up post on it.
@Jim, Maybe it’s more like owning an Uzi and accidentally shooting oneself with it.
@As noted in the Art of Non-Conformity publication titled Unconventional Guide to the Social Web, Your Blog is your Mothership. It’s a worthy piece to read.
@Karin – You’re list of those who do it right are individuals who I admire and part of a slightly larger but very small set of entities who do it right. One need look no further than Avery Hess’s Facebook page or Corcoran’s Twitter feed to gain a deeper understanding of what I mean by right. One needs to look at what the majority is doing to scratch your head and wonder how any of those posts can actually attract anything really substantial within the context of business.
Having friends is substantial. Of course. But isn’t one of the rules in real estate to manage the time invested in “friends” and devote quality time to those who can bring you business? Seems to me this rule has been overshadowed by the lure of easy chatter on social media and the desperate belief during these slow times that social media friends will be referring business to each other.
Well where is the proof of that? Given the millions of Tweets shared, blogs written, and pics posted on Facebook, where are the equal volume of stories that speak its return and boast of it’s referral praises?
I am not into bursting bubbles here folks. If this were 2003, 2004, how many of you would be sitting around posting about where you’re standing right now, or flying around the country attending BarCamps or tweeting from your side of the bed at night about how much you missed your wife while you were away at a conference. If you missed her that much, put your phone away, turn over and tell her!
Social media is such a powerful tool.
I’d like to see real estate people do more with it than the simple, easy, fun and game of it.
It is media after all.
“…a well executed local media channel authored by skilled people who devote time to creating quality content that people find useful.” “Taking digital marketing, branding, and your reputation seriously is nicer.” Two of my favorite lines in Marc’s post. I’m glad that we are not blaming a lack of professionalism on the tool. It’s not the tool (Twitter, FourSquare, Facebook, MaySpace, cell phone, open house, crappy flyer/postcard, gorgeous flyer/postcard, website, blog, vlog, etc, etc)that is the problem, it’s the creator/communicator, and the person who is responsible for their oversight. Comes back to the “raising the bar” discussion that will only happen if the managing broker of an organization or office sets the standards of practice and holds their agents accountable to those standards. Offline and Online. And even then there will still be a large number of not-so-professional practitioners out there that will continue to taint our industry reputation.
Marc, I agree wholeheartedly with your post. Recently I deleted all but a select few agents and industry types from my Facebook and Twitter accounts. At the same time I reached out into my local community and started friending politicians, business owners, community groups and individuals as well as becoming active on local mini social sites and Facebook pages. My site traffic, which was already high, has jumped by about 20% – in the last month alone. I can attribute this additional traffic to local traffic because of the geographic tracking on the site. Real Estate is local, content is King.
Let’s not get into the discussion with Corcoran and their practices. It is evident that case law was established against Corcoran by one of their brokers. Look up the decision that went all the way to the Court of Appeals against Corcoran. That is a poor example to lead, not only the real estate industry but for social media practices.
It is our practice to ignore posts like the one above. Nevertheless, I am neither a court of law or anonymous. Corcoran is neither a client nor a close confidant. They are, as in CorcoranGroup, one of my personal favorite examples of those who do social media right in real estate. I stand by that based on my personal use and receipt of their information. Period.
If social media doesn’t help you build and strengthen your real world network, do something else. Learning how to use social media effecttively is both an art and a science, but providing quality content is a core competency that tha must first be mastered, the refined over time.
“A whole bunch of stuff that would be better served by opacity than transparency”
Amen!
I think discretion should be first and foremost before people post. There’s a time and a place to say things, and sometimes it’s best not to say anything at all.
There seems to be a bit too much sincerity [for this post-cynical (been there done that) native New Yorker] as well as a fair amount of pontification (pon-tweet-ication?) amongst the posts and tweets I see. I sometimes wonder if the new trending topic will be a ten step program to treat narcissism.
Someone once described by as a WYSIWYG (what you see is what you get) Realtor – but there’s a time and a place for opacity as well as transparency.
As a child of the 60s (yikes – that means I’m OVER 60) I don’t think that letting it all hang out (transparency?) is necessarily a good thing. That’s definitely reinforced when I walk past the mirrors at the Berkeley YMCA.
Marc – thank you once again for your thoughtful post.
Ira
I very much appreciate your viewpoint Marc. Has been a learning process for us for sure, and I have pulled back a bit this last year to take stock of how we as a company and brand should be interacting using social media, and helping our agents try and do the same – though we are not 100% there yet and have more work to do.
What we are doing though is trying to lead by example and look for specific opportunities where there is value add – like our Long Connects enterprise 2.0 collabration network (which by the way is seeing over 70% agent usage with tangible results) and launching in a few weeks a new online video housing “show” (would welcome any and all feedback on how we can make that better as we go).
The point is it can be done and there is opportunity, but most importantly needs thought put into it. I am sure there are other examples (many better than ours) of brokerages and agents leading by example – and I really look forward to the continued learning process. Much of this is taking the time to stop, think and use some comon sense, though sense is not always common.
Keep up the great work in challenging us Marc, I for one look forward to your posts.
Ira wrote – “I don’t think that letting it all hang out (transparency?) is necessarily a good thing. That’s definitely reinforced when I walk past the mirrors at the Berkeley YMCA.”
Very interesting analogy Ira. It would behoove everyone to step back and view an archive of their posts, tweets, etc., and view the reflection.
Just seconds ago, after looking at the last entry of Tweets from Friends, a well known technology consultant based here in California posted where he was. So I clicked on his profile and for the last few weeks. His entire feed consisted of nothing other than were he was at the moment. No rhyme. No reason. No context. No intrinsic value whatsoever for me as the recipient. All I know is, he goes places.
If he were JayZ that might matter. Otherwise, I have learned nothing about him at all. However, If I had a criminal mind, I could probably study this dude for another month, detect a pattern and clean out his house. Or worse.
I hope this stuff is helpful. I have to think we can call do better than this and use social media better. We owe it to ourselves, we owe it to the industry and we certainly owe it to our recipients who like me, no longer find any use for this sort of posting agenda. The unfollow button is so easy to use.
Yet another thought provoking post Marc. You always (ALWAYS) make me think, and I can’t put a price on that. Thank you.
I think the single most important thing the *vast* majority of agents miss when it comes to “social media” in general (and Twitter in particular) is that it is an incredibly powerful tool for facilitating meeting people IN REAL LIFE.
Real life always has been, and always will be, the best “social network”. Ever. Period. I have extended my personal SOI by over 200 people. Non-real estate, local people. Potential home buyers and sellers. That’s not too bad.
I’ll freely admit I post a fair amount of crap in my Twitter stream. It’s not all listings and links and compelling content. But it’s me. Some apparently appreciate that, others don’t. And that’s fine. I can’t be the agent for everyone. I don’t WANT to be the agent for everyone.
Without the clients my blog attracts, I’d be eating Ramen and most likely back in a Corporate America cubicle. It generates the VAST majority of my business and also business for my agents.
The people I’ve met (in real life) through Twitter (and Meetup.com and Upcoming and LinkedIn groups) resulted in 8 closed transactions last year. Not a huge amount of business, but it’s a start. I have a LONG way to go to learn how to best use these tools to build a business.
“Social media” CAN work. It’s not a panacea, and it is far from easy. There is no one right way to do it. And it’s not for everyone.
(Carin, thanks for your kind words!)
Jay, we all post a fair amount of crap! Trust me man, I review my stuff at the end of every week and wonder – what the heck was I thinking. I’m as guilty as everyone else and often, when writing these things, I’m vetting my own frustrations about my social media faux pas and limitations.
But here’s what you said that I like: “I can’t be the agent for everyone. I don’t WANT to be the agent for everyone.”
Trying to be the agent for everyone is the mistake many make and often leads to the rat tat tat of meaningless posts. But knowing your audience, posting to them and providing them value, is what you often do and explain the success you’ve had with it that I continually cite by the way. You, Kris and a few other continue to serve as the poster people for what happens when you do it right. Even if its only some of the time.
I imagine how many more relationships, friends, business, revenue and good will we can create if we better our efforts by 10% a quarter.
Marc
Thank god. When those groups popped up on the Facebook this week, I thought to myself (not a peep to anyone) that it’s gone too far.
Laurie Manny and I have a quick and insightful exchange today. We came to the conclusion that “we” meaning real estate agent in this online “group,” know it all. And we know it better than 95% of people will know it five years down the road.
Implement. Most real estate agents in the re.net are losing their careers–and they don’t even know it –if they had one to start with.
Foursquare—and real estate? Dustin—you know ur the man…we all know your the man…but integrating Foursquare to cultivate real estate customers —is like, well, expecting someone to buy a property directly from an iPhone. roflmao.
Great in theory…but lets all bring it in for a landing, eeh?
I won’t speak for Laurie, but I have extracted myself from alot of the non-sense that is whirling around all these high school cliques. People sitting in garages eating Dunkin’ Donuts???
Can someone give Dolly Lenz a call??? 911!
Jay,
Social Media CAN work….but is it better or worse than, say, an open house?
You can meet people at an open house. Gee!! Someone who may be interested in buying REAL ESTATE! What will they think of next?
That technology stuff.
Laurie,
How dare you say that Twitter is NOT the backbone of your business?
You are unfriended!
[But here's what you said that I like: "I can't be the agent for everyone. I don't WANT to be the agent for everyone"]
What I like about our berkeleyhomes.com web site is:
If people like the way I come across, the contact me
If people don’t like the way I come across, they don’t contact me
Either way, we both win.
After listening for years to the pundits of the so-called re.net, I have finally come to the conclusion that effective social media solutions in the real estate space will ultimately come from the ground up, not the top down. Agents in the field who day-in and day-out experiment with social media, look at the results, and then try again and again to improve upon and refine their approach in a relentless effort to achieving the results they seek…these agents, the ones who prove themselves by generating real business as a result of their social media efforts and who listen with their ears to ground to what their potential clients are saying, where and how they are saying it…it is these agents who will set the agenda for what it takes to be successful in social media as it relates to real estate. There are a few out there now who really get it, most are clueless….but even the clueless one will take note when more agents demonstrate that social media done right translates into more business and an increase in the bottom line.
Tim, I could not agree with you more. I have spent countless hours refining my efforts in SM. I must say after a great deal of hard work I’m finally seeing the results. I have done many things that I regret and I’m so much more cognizant of the lasting impact of any one post or thought.
As Jay says, Social Media gives you the ability to magnify your personality and business ethics. No one agent is a fit for everyone, but having prospects and Clients that appreciate your own unique style and beliefs find you on the Internet is priceless. Jay, you are the master and I have learned so much from you!
5 years from now everyone will be embracing the new media, some in effective manners and others not willing to spend the time and effort will just illuminate how truly bad they are.
I will quietly continue my work in the arena, for me it’s about giving back and casting some good information into the vast ocean of garbage , and if it attracts a prospect along the way that I can service, all the better. The consumer is desperate for some help in this sea of self-promotional breeze.
Again Marc, thank you for the discussion.
Marc, I’m definitely looking forward to your follow up post and have enjoyed this conversation immensely. I think I can tell from your tweets where you’re going in terms of interpreting my comment about referrals… and if I can pre-empt you just a bit, it would be to not focus on agent-to-agent referrals (I certainly wasn’t in my comments). When I ran a recent poll, I can’t say I was surprised that the majority of agents said that referrals were the largest source of their business and I don’t think you would be either. There’s obviously a huge difference in my mind between a “referral” and a “referral network.” If you focus on referrals from other agents, then, of course, it’s going to be minimal for most agents… but I think it’s safe to say that none of the agents who said their referral network was their largest source of business in the poll I ran was thinking of a network that consisted completely of other agents.
I think a more interesting approach would be to look at where the majority of agents already have the most success (i.e. building a referral network) and ask if there are any online tools that can help them extend that success. Of course the source of leads in these cases is often extremely blurry. For example, if Jay Thompson meets someone at a sports meetup at the local bar and that person recommends Jay to a friend who’s moving to Phoenix, is that source a real world contact? is the source an online referral because Jay found out about the weekly event through meetup.com? I think the answer is: who cares? It came from his referral network that he’s built up by being active in a community and knowing how to work that community appropriately.
[...] Davison has been hosting a related conversations (with a completely different take) on his blog where I’ve also been actively [...]
@Tim – I concur. The RE.net, whatever that actually is, and whoever it comprises, set the bar pretty low. Early adopters for sure and therein credit is due. But it never evolved beyond banter, bashing and creating confusion controversy for the sport of it. They credit ought to be credited with popularizing social media but again I have to point back to Dustin and RCG that started it all and still remains the pinnacle. Things like AG and BHG are the Sears and Roebuck to RCG Saks.
@Jeffrey – It will take less than five years. I think most of this child’s play will end by 2011. By then, the industry will hopefully pick and good agents will have less time to futz around the lousy ones will be gone and most every one else will realize that many of these networks they belong online are time sucking drains on their lives with no return. At least not the kind that puts food on the table and that there are far better ways to use SM than tweeting from your bed late at night about being in your bed late at night.
@Kevin – You said “Great in theory”but lets all bring it in for a landing, eeh?” I agree. I think it’s time to stop theorizing about these media assets and provide agents clear, distinctive, realistic paths. To your question – is it better or worse than an open house, these are apples and oranges. But why separate the two. Why not use SM to promote an open house, video tape the open house, place it on your private label WellcomeMat channel, export it to YouTube, blog about it and tweet al the links showing your seller there is no stone you won’t turn to promote their listing.
@Dustin – I have been going back and forth on this next post so your guess is as good as mine right now on where I might take it. Many, many thoughts for 600-700 words. My good guess is I probably agree with you far more than disagree. My only focus right now is to not placate to anyone anymore or as Jay said, not to be all things to all people. Life is too short and this business has revealed way too much of its dumb ass onto the world. I have to think that the silent majority is pretty tired of being stereotyped by them. So hopefully we can both work together to project a better example for others.
[...] 1000 Watt Consulting – Foursquare and Five Years Ago – [...]
Marc, I certainly hope that you’re correct in predicting the end of the “child’s play” by the end of 2010 – I’m not too sure that we have only begun to see the herd mentality of every Tom, Dick, and Suzy real estate agent jumping into the game. I hope YOU are right!
Big brokerages and real estate coaches have embraced the social media craze as the next big thing to make money on, while many in the industry are still trying to figure out the fax machine. Social media is the next magic bullet to guide the clueless masses towards Mecca. There is no magic, just more hard work.
In my mind the consumer needs to do a better job in the selection of the real estate agent. When and if that happens (this discussion has been going on for a long time) we will truly see a difference. I suppose your guess that SM will finally shed light on the whole subject for some fundamental changes is valid.
For the record I have never tweeted from bed, nor do I have any future plans to do so. As Ira so eloquently states, some things are better not so transparent. My personal life will remain personal.
Kevin, is social media better than an open house? I have several hundred unique visitors a day on my site, 24/7 while I sleep and while I’m out working. It’s another tool in the REALTOR® toolbox, and used correctly it is inexpensive and efficient. So yes I think it is.
What a great discussion from so many smart folks, I have high hopes that positive changes are afoot.
Marc,
I enjoyed your post. However, I have had a different experience with agents on Facebook. I use FB as part of my online presence and as a way to remain active in my clients’ lives after the sale. Rather than bickering and non-professional behavior, I have found a lot of support from agents on Facebook and have both received and given referrals. However, I do check out what an agent writes before I send a referral someone’s way so I wholeheartedly agree that agents should be careful about the things they say (or spew) on FB and other social media outlets. Used correctly, an agent can incorporate what they do everyday into their statuses or tweets, thereby giving the online world a strong, frequent reminder of their specialty in the world of real estate.
1) When agents say a lot of their business comes from “referrals”, I think they mean referrals from past clients…not from agents. If most of your business comes from agent referrals…something is wrong. Many of my past and current clients “refer” their friends and peers to my blogging, so a past client referral still comes via my blogging efforts, often.
2)Recently, in the last 10 days or so, I received 3 new clients directly from twitter. I prefer clients who come from my blog.
3)Regarding social media generally, many years ago someone hired me to sell their house. While I was doing the first Open House I saw the top agent in the area in the yard next door. I had to wonder why someone who lived next door to the top agent in town, would hire me? (I was new in the area at the time), so I asked.
He said ARDELL, every weekend I see you driving by, showing houses, staying late at your office (I had a very distinctive car) and I see my neighbor mowing his lawn, walking his dog, etc. Via social media, people can see what you are doing just as that client did in person. If they see you working vs playing a lot…it creates a strong perception of your work ethic and abilities.
Social Media IS “real life”.
Marc,
I agree 100%. It’s a shame that more of the glitteratti from the re.net are not reading this because that is effective use of SM.
I was having yet another discussion with someone whom I respect (she sells LOTS of real estate –sells more than talks) and we both decided if we had to go forth with two items from our tool belt –mine two would be my Web site and direct mail. Other adjunct tools like FB and Twitter aren’t the powerhouses that a highly-ranked Website is—and I doubt they will ever be.
That’s been my motto for the last three weeks. ENOUGH THEORIZING! Bring it home. Make it useful. Put it into play.
Picture this: As momma bird is pushing her young birds out of the nest,momma bird thinks to herself: “Gawd, so much chirping—get the hell out of here, you are driving me f’n crazy..”
With regard to open houses—I think it’s brilliant to integrate new/old school tools. I actually think that would have the most impact on agents bottom line.
But, when I started blogging you were considered a sell-out if you in anyway,shape or form sounded like a salesman or promoted your listings or services.
I see that attitude with the SM purists now (ARDELL re: #fail). They’ll change–just like they did with the blogs. Look at RCG now. It’s like a mini-mall o’real estate. And from me, that is a huge compliment.
Rock on Dustin.
Regarding Open Houses – I’ve taken to putting Social Networking logos (Facebook, Twitter, Flickr, Linked In, WordPress …. ) on our Open House signs. We print them legal sized, full color and tape them to the A-Frames.
I figure if you know what it means, you know that I know what it means.
Regarding Realtor referrals – this came in an hour ago.
———————————–
Hi Ira,
I “know” you through a variety of social networks [ReBarCamp, InmanConnect, etc.--my Twitter handle is @ ------- ]
I know that you really know Berkeley,and I believe that you and Carol would take great care of our clients who are relocating to your area from “…
After 27 years of being a real estate agent, it always amazes me to see brokers and agents targeting media at each other. No wonder so few make it.
Aloha,
Keahi
[...] of this begs a well thought out social media strategy since your lifestream is now forming the public record of your [...]
[...] I think it’s extremely safe to say that in terms of generating business, most real estate agents (and most professionals for that matter), are better at reaching into their network of friends (and friends of friends) to drive business than reaching consumers directly. And yet, almost all online tools, commentary and critiques of social media within real estate focus on the inability to of the tools to directly reach consumers. (One of the more eloquent critiques was written by Marc Davison). [...]
[...] Foursquare and five years ago: Recalling the promise of real estate and social media by Marc Davison at 1000Watt Consulting [...]
Marc:
As always, you write so well I hesitate to respond – and I agree with much of what you say – However I think the problem is not with the tools of social media but in the appropriate application of the tools to do things that have always been part of our business. I don’t think that social marketing is a “one size fits all” solution for any business. Each person or business needs to find ways to apply the pieces that work for them for both their personal and business goals. Obviously, at some point social networking needs to be actualized through face to face interaction – and there are lots of ways to accomplish that. But whether you like the way people interact through what we dub “social media” or not, people are enagaging in that space, and a responsible, ethical, and effective way to enagage them is a skill that businesses and professionals need to develop.
In a post written by Anne Giles Clelland she says “The business use of social media addresses media fragmentation, the scattering of possible customers to multiple channels for news and information. With a presence in multiple social media and social networking venues, a company can meet consumers where they are, or attract their attention through the equivalent of word of mouth referrals (“Check out what Company X is doing on Facebook!”)”
That’s not throwing sheep, or feckless self-promotion, but a way to connect with the community that uses our goods and services – and that is what companies (and professionals) need to keep in mind as they engage in the use of social media tools-
I like your tone here Marc because you pose powerful questions. It boils down to every individual’s scrutiny of what works for them, not what the rest are doing or not doing. I hate when certain concepts are attacked because who am I to say that 4square is just a waste of time, for example.
The truth is that we place as much energy and effort into different systems and platforms and if we are smart, we constantly study what we get from it. The intelligent ones have a clear goal and focus and know what they want to get out of those tools (some may be business related, others may not, and that’s ok).
Many different tools will come and go, it’s up to each individual to assess and see if they could be viable business solutions that can be integrated within their already existing marketing plan.
I really enjoyed the read and I see your point of view. I however see it in a slightly different light. The problem with most agents (and I say this because I taught social media/interaction to many many agents) was that they were trying to use it to directly generate business.
My goal has always been to attract like minded people. As Jay said above, I don’t want to be the agent of everyone nor can I, and that is just fine. I would far rather deal with people that appreciate me as a person as well, assuming all else is equal (I actually know what the hell I am talking about regarding real estate and I can represent my clients in a professional manner).
My favorite clients and my biggest fans have always been the ones that invited me to social events during and after the real estate transactions completed, because they enjoyed my company, because they knew exactly who I was, and appreciated it!
As far as generating business, last year we probably closed about 10 deals based on Social Media alone…which as Jay says, not bad, considering I gained clients out of checking in to my local Costco, or other venue. I use it as an ice breaker, this is the starting point of having something in common with my clients and isn’t that what we all strive to do, find common ground…think about it.
Again, great post.
Ines, Bill, Robert and others
Thanks for your contributions.
For the most part, the main take away for readers is a reminder that social media is in fact “media” and therefore serves as an advertising platform to broadcast value and personal brand with the added benefit of providing an historical and personal public record of who we are, what we think about and how we feel about things.
What concerns me is while many of these social platforms provide a bullhorn to the world, often times the messaging from it is fragmented and non contextual given the platforms like Twitter and Foursquare and how any one post isolated from the string could lead an onlooker to form an opinion that is inaccurate, negative or disjointed from who you really are.
Take for instance this: In consideration of farming some work out to someone I plugged their name into Google Alert so I can monitor what it is they write about over a two week course. On Sat, Google spits back one Twitter post made that regarded their body piercing fantasies and where on their body they’re considering piercing.
Google Alert offered no other posts or context to what that random post was about so I had no idea what this was about or in what context. But when I read this I found it weird a bit creepy and wondered why a real estate professional would write this publicly.
Use SM to be social. But be aware others beside the person you are dialoging with can see it. Be mindful of what you write, how you write it, etc., and do your best to try and make sure each post is your truest emissary.
First off, Marc, you’ve just penned what may be my favorite metaphor EVER: ” … crisp from the deep fryer of Web 2.0, blogs surfaced like zits across the face of real estate.” I’m going to dine on that for quite some time.
But I digress.
I think that this is a great post and that there is much to glean from it. I agree that many agents (and others) who are trying to get the hang of things (meaning SM tools & apps) might (just might) get a little carried away with things like FourSquare (and anything else that might tickle their fancy). I think that a certain amount of experimentation is OK.
But I have to agree with Ines and Bill here. What works for oneperson may or may not work for another. I think that so many of these things is so new that some trial and error is perfectly reasonable. If something doesn’t work for me, I won’t use it, but I won’t question someone else if it works for them.
I think that tweeting, or FourSquaring, or Yelping, or whatever, to the total abandonment of everything else is inadvisable. There is some traditional marketing that still works. There are Facebook pages that work, and work well. There are blogs that work beautifully and those that don’t. It’s up to each agent to determine what works best for them.
Marc
“Take for instance this: In consideration of farming some work out to someone I plugged their name into Google Alert so I can monitor what it is they write about over a two week course. On Sat, Google spits back one Twitter post made that regarded their body piercing fantasies and where on their body they’re considering piercing.
Use SM to be social. But be aware others beside the person you are dialoging with can see it. Be mindful of what you write, how you write it, etc., and do your best to try and make sure each post is your truest emissary.”
Sounds like a different form of SM
the “out of context” question is a really valid one – it’s the reason I don’t do my “latest tweet” on any of the platforms because every single one of my tweets can be taken out of context. I have put a lot of thought into that particular aspect and have made a conscious decision that it would make great conversation to try to explain that “absurd” thought.
I think the real concern comes from those that have not even thought of the repercussions – or those that don’t even think of the permanence of their engagement on-line. Again, valid concerns.
On a serious note, though.
Perhaps it was growing up in The Bronx, knowing people who were tainted by McCarthy Red Scare (I actually wrote Square!) tactics, gives me somewhat more caution.
My mother went ballistic when she heard that I was giving out campaign literature at the Pelham Parkway IRT El Station, and a policeman (yes, all men) took down my name and phone number.
She knew what it could mean to be on a “list”
And the students of PS 105 on Brady Avenue knew the serious consequences of having something put on your “permanent record”
Why is this relevant?
Because I try to be very aware that everything that I post, and everyone else who is associated with my posts, blogs, tweets, checkins, checkouts reflects upon my permanent record.
So, it’s a personal choice to me to avoid posting anything online which I wouldn’t want my mother to read …. and though growing up in The Bronx, we learned “If you can’t say something nice, say it” If I can’t say something nice, I don’t say anything at all.
There are times when that’s hard to do, so I just talk to Carol or Poudini or Baby T.
Before hitting “send” on anything, ask yourself – “Do I really want this on my permanent record”
Because it will be!
Ira
After all I just said, it doesn’t stop me from seeing my entendres and doubling them. Just did that on a tweet.