A few weeks ago, we promised to update you on the latest social media demographics. We started with TikTok, and today we dive into Instagram.
The criteria we used when choosing the “best” social media options is simple: Those in your target demographic should use the platform heavily. If that includes buyers and sellers, you’ll want to hang out where baby boomers do.
If, on the other hand, you are targeting millennial real estate consumers, we can show you where to spend your time.
Remember, when it comes to marketing your real estate business, targeting is critical. Otherwise, you are wasting both your time and money.
Let’s talk Instagram
Although India leads the world in Instagram users, with more than 225 million active users, the U.S. comes in second, with “… at least 143.4 million active users,” according to DataReportal.com.
Instagram tends to attract a young crowd in the U.S., with ages 18 to 24 accounting for its largest audience share (27.7). The second-largest share of audience is those aged 25-to-34 … to which 25.7% of Instagrammers belong,” according to data from Oberlo.com.
Pay close attention to this statistic: “As of 2022, around 87% of Instagram’s 1.31 billion users who might potentially be targeted with ads are outside the United States.”
If you’re selling international real estate, this statistic may not bother you. But that nearly 90% of the platform’s targeted users are outside the U.S. should be a deal breaker for real estate agents.
Add to that the young age of the average user. There are platforms with far better demographics if you’re looking for potential homebuyers and sellers.
Who you should be targeting
Although we went over this in our last post about TikTok, in a nutshell, baby boomers are the ones buying and selling right now, making up 39% of buyers. According to the NAR, they have overtaken millennials’ share of the buyer pool (28%).
Sellers? Baby boomers again, but Gen X is part of the pool as well. NAR says the typical seller is 60 years old.
So, we’ve struck out with both TikTok and Instagram. But check back because soon we’ll have the winners of which the-social-media-platforms-are-best-for-real-estate- agents contest.
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Sure, social media marketing for real estate agents should be an important part of your overall marketing plan.
But, for pity’s sake, fish where your fish are. Nobody goes fishing for marlin in a stream or lake, right?
The truth is:
The majority of real estate consumers aren’t active on Instagram
We aren’t dissing the social media platform; it’s a fun place to hang out and catch up on the latest trends. But if you’re on it for business reasons and not for personal enjoyment, maybe it’s time to reconsider your social media strategy.
A lot of what you hear and read is hype
I’ve noticed that the biggest Instagram cheerleaders for real estate agents also have the biggest agendas. They’ll lure you in with vague statistics that actually have nothing to do with real estate or buyers and sellers.
Stop listening to the bloggers who tell you that:
You can find your “Dream Listing” on Instagram and that “Instagram is the best free advertising a real estate agent will find.” This comes from a company that offers, for a large fee, “automated tools” to help you create your real estate social media strategy and campaigns.
You can rule the ‘Gram like a Pro” with “these tips” (from a company that provides, for a fee naturally, social media management and marketing).
“Using Instagram to market your real estate business is a sound strategic move.” This one is from a former agent who now runs a “real estate technology company.”
This is one of my favorites. In a post titled “Instagram Tips for Real Estate Agents,” the author gives the same meaningless statistics but she also posts a demographic breakdown of Instagram users from Pew Research. Demographics from 2015.
The truth is that, as a real estate agent, you are targeting a very specific population: home sellers. This means that the majority of your “fish” are between the ages of 42 and 75 (Gen X and baby boomers), according to NAR’s latest statistics.
These two cohorts comprise 70% of all home sellers and represent your target audience.
Nearly 60% of U.S. Instagram users are between the ages of 13 and 34, according to the number crunchers at statista.com.
So, where are my fish?
That depends. If you want to target baby boomers, go big on Facebook. According to a recent Pew Research study, boomers’ two favorite social media hangouts are Facebook (nearly half of them chose this as number one) and Pinterest.
There was some overlap in the study that finds LinkedIn (largest demographic is age 46 to 55) to be popular with both Gen X and boomers, so you may want to dabble in both.
But Instagram? You’ll spend, on average, “… 30 minutes to an hour and 25 minutes …” (jennstrends.com) to create a post that in all likelihood will generate zero leads.
Listings aren’t easy to come by right now and your time is precious. Fish where your fish are and you’ll meet with more success.
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PLUS: When you have time…here are some helpful resources we’ve made available to support your success.
1. The Free 12 Month Done-For-You Strategic Marketing Plan
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A few months ago, we began to sift through the various social media platforms and whittle down which were most worthy of a real estate agent’s time. At that time we compared Instagram and Facebook.
We promised to continue this quest in a “part two” article down the road.
And, right now, with stay-at-home orders in place, and many agents focusing on social media, we decided there was no better time than the present to complete this topic.
The following statistics define what additional social media platforms to focus on and what to avoid to ensure the best ROI.
Always start with the demographics
In their attempts to pitch their services to real estate agents, social media marketing companies are notorious for using vague statistics.
For instance, one company gives agents “10 Reasons Why Every Realtor Needs An Awesome Instagram Account.” Reason number one is that Instagram
“… boasts over one billion active monthly users and over 500 million daily users.”
While that’s impressive, unless you sell real estate internationally, this number is completely useless to you. Why pay to advertise to someone who lives on the other side of the globe?
What you need to know is how many Americans use a platform. In Instagram’s case, it’s 116 million, which is only 11 percent of the total active monthly users.
Then, you should find out the primary age groups that use the platform. Instagram’s largest user group (64 percent of all users) is between the ages of 18 and 34 (Gen Z and younger millennials).
Remember, NAR’s studies show that the largest group of homebuyers are those between the ages of 25 and 43 (millennials) and baby boomers (age 56 to 74) make up the largest group of sellers.
The Neighborhood Update postcard is available in the Neighborhood Update Series under Postcards
The average age of each, however, is 47 and 57, respectively.
Thinking of Pinterest?
Pinterest is wildly popular with American women, or “deciders” as the folks at Pinterest call them. Here are the details you need to know to determine if it’s a platform you want to spend time on:
83 percent of American women between the ages of 24 and 54 use Pinterest (Pinterest.com)
43 percent of these users say they’ll buy a house sometime between now and 2025. (Pinterest.com)
You may want to do a cost-benefit analysis before you jump on the Pinterest bandwagon. It’s quite time-consuming so unless you have a dedicated marketing person or social media manager on the team, it could end up eating much of your valuable time.
When your pins and boards are optimized, however, Pinterest can be a powerful way to steer traffic to your website.
How is Twitter for real estate agents?
Because it’s in the media so often, Twitter seems a lot more popular than it is – at least with adults.
Nearly 80 percent of all Twitter users live outside the U.S. (Omnicore Agency)
More than 65 percent of Twitter users are males
Nearly 40 percent of users are between the ages of 18 and 29
Real estate agents should look long and hard at the first and third Twitter facts in the above list. The U.S. audience is small and it’s composed largely of people outside the home buying and selling age range.
The Looking For Expert Advice postcard is from the Get More Listings Series under the postcard section
If you love Twitter, there’s certainly nothing wrong with using it for personal stuff, however.
TikTok
Just what every real estate agent needs: yet another social media/video app to consider as a marketing tool.
Since the majority of real estate agents aren’t in Gen Z and aren’t even Millennials, an explanation is probably in order here.
TikTok is “The app where Gen Z vies for 15 seconds of fame,” according to Slate.com’s Heather Schwedel. She goes on to describe it “as a social network for amateur music videos.”
This newcomer to the “Oh-my-God-you-need-to-be-using-this” video-sharing platform has become an obsession with teens. In fact, half of TikTok’s users (globally) are under the age of 34, with the vast majority of them between 16 and 24.
When was the last time you had a 16, 17,18 or even 20-year-old real estate client?
Then, 80 percent of the app’s most frequent users reside in China, but India accounts for nearly half of all new users.
Are you licensed to sell real estate in China or India?
What you’ll hear from marketers trying to get your business:
Users spend about 52 minutes each day on the app
The app is the most downloaded from the Apple App Store
“One of the great reasons why it’s so great for real estate is because, simply, not many people in real estate are using it”
“You see a lot of people like Gary Vee . . . talking about how TikTok is something you need to be going all-in on.”
We had to laugh at that last one, since Gary Vee sells, among other things, sneakers. TikTok supplies the ideal targeted audience for that product.
You, on the other hand, hopefully, sell HOMES. TikTok, at least right now, is an utter waste of time for real estate agents.
What’s not a waste of time? Facebook, whom we highlighted in our last article on social media marketing and LinkedIn.
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For buying ads, we would seriously consider NextDoor.
Send the Neighborhood Update Free Offer postcard from the Neighborhood Update Free Offer Series to your Farm or an area where you want more listings.
Keep them informed about what’s going on right now in their marketplace.
Need help targeting a specific niche of buyers or sellers? Use our mailing list toolto create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
PLUS: When you have time…here are some Free resources we’ve made available to support your success.
1. The 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
2. The Free One-Page Real Estate Business Plan
Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan. – Click Here
4. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
5. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
3. The Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted mailing list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
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.
The Valentine’s Day postcards are available under the Holiday Series in the Postcard Section
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.
The Valentine’s Day postcards are available under the Holiday Series in teh Postcard Section
Buyers’ agents should go all-in on platforms that are popular with Gen X but figure out where millennials hang out as well.
Facebook
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.
Instagram
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).
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.
The Valentine’s Day postcards are available under the Holiday Series in teh Postcard Section
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 toolto create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
PLUS: When you have time…here are Free killer tools to help your success this year!
1. The 12 Month Done-For-You Strategic Marketing Plan – NEW 2020!
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
2. The Free One-Page Real Estate Business Plan – NEW 2020!
Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan. – Click Here
3. Get the ALL-NEW Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted mailing list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
4. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
5. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
