Can someone point out where it’s written that real estate agents need to be active on every social media platform?
I didn’t think so.
Real estate agents, if they’re doing it right, have insanely busy schedules and little help with the scut work.
Not that marketing your business is necessarily scut work, but the actual implementation of social media marketing methods often is.
Since demographics on these platforms ebb and flow, it’s challenging to figure out which ones are worthy of your precious time and money and which to cut loose.
So, we thought we’d help you out a bit by doing some of the research for you.
It’s all about the demographics
“Popularity was fickle and elusive, like trying to catch fireflies in a jar,” according to author Melissa de la Cruz. While she wasn’t referring to social media, the quote certainly fits.
It’s important to not buy into the hype when researching social media platforms. That Twitter boasts 330 million monthly active users means nothing other than that a whole bunch of people use it.
The two most important statistics for real estate agents to know are:
- How many of these users are located in the U.S.?
- A breakdown of these U.S. users by age group
For instance, of those 330 million monthly Twitter users, only 20 percent are located in the U.S. There are other social media platforms that offer a larger U.S. user base.
The age of the average user is critically important for real estate agents when choosing where to market their businesses.
The NAR breaks down buyers and sellers according to generational cohorts:
Millennials will be between the ages of 25-43 in 2020. They represent:
- 37 percent of buyers
- 20% of sellers
Gen X members are between the ages of 44 and 55 this year and they represent:
- 24% of buyers
- 25% of sellers
Baby Boomers are age 56-74 in 2020 and they make up:
- 32% of the buyer pool
- 43% of sellers
Keep in mind that the average age of a homebuyer is 47 and the average age of a home seller is 57, according to the NAR.
Obviously, if you are a listing agent you are going to want to put your marketing money and time into the platform that attracts baby boomers and older members of Gen X.
Buyers’ agents should go all-in on platforms that are popular with Gen X but figure out where millennials hang out as well.
Every year when we take a look back at social media user statistics Facebook comes out the clear winner and, although its popularity is waning, 2020 should be no exception.
Last year, the largest group of U.S. Facebook users were millennials, at 84 percent. The next largest age group, 30 to 49, includes younger members of Gen X.
Older generations are well-represented as well, with two-thirds of older Gen Xers and boomers and nearly half of older boomers (older than 65) using Facebook.
Facebook remains a no-brainer for real estate agents, whether trying to boost organic traffic to websites or using targeted advertising.
Our opinion? For real estate agents, Instagram is mostly not as effective as Facebook.
- Of the platform’s 1 billion users, only 11 percent reside in the U.S.
- Only one-third of the most-viewed stories are from businesses.
- Instagram ranks sixth in global popularity (Hootsuite).
- Instagram’s largest user base (64 percent) is between the ages of 18 and 34.
Consider this as well:
If your looking to target a younger demographic this is a great platform.
Don’t be sucked in by the number of businesses that use the platform. Their targeted demographics are most likely not nearly as narrow as yours. For instance, they may be after a global audience or want to appeal to teens and young adults.
If you are already creating posts for Facebook, it should be fairly easy to copy them and post to Instagram as well. The more reach and visibility you can generate from posting your brand or listings the better!
Remember to keep a close eye on your targeted audience and make sure your content matches the demographic.
Check back soon when we compare two more popular social media platforms.
Send Valentine’s Day postcard from the Holiday Series to your Sphere of Influence. Let them know you are thinking about them.
Need help targeting the perfect niche of buyers or sellers? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!