My last post got me thinking about a poll I asked on Facebook a little while ago… It’s pretty simple (only one question) and while there were a decent number of responses, I’d love to get even more. Here’s the question:
REALTORS: What is your largest source of business?
Tagged: business RSS
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Dustin
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Dustin
Do you need a foursquare social media strategy? Someone landed on my site today with the keywords: [foursquare social media strategy], and it got me thinking… Do I have a foursquare social media strategy?
It’s all the rage to hate on foursquare (at least in the real estate space), but I’ve found the tool to be great for meeting up with folks, especially when I’m on the road. More times than I could count I can directly attribute a great meeting over coffee, lunch, dinner, drinks, etc. because I checked into foursquare at some nearby location. It’s so great at connecting me with others that one of the first things I do when I fly into a new city is to checkin at the airport because I can pretty much guarantee I will get one or two follow up messages (almost always texts for some reason), from locals asking when we can meet up.
FourSquare is actually a little bit *too* effective. If I’ve got a deadline on a project, I have to make sure *not* to check in to a place to make sure I get work done.
Does this mean I have a foursquare social media strategy? I wouldn’t call it a strategy as much as common sense. If I’m in the mood to connect with people, I checkin… If not, I don’t.
But more importantly, do you need a foursquare social media strategy?
It depends. Do you enjoy meeting up with other people? Are you the type of business person who could generate more deals if you could just get in front of more people? I know I am… I have a hard time meeting up with someone and *not* walking away with a plan to do business with them. For me, checking in on foursquare means I meet up with more people and meeting up with more people translates directly into more business opportunities. Very few of the business opportunities pan out, but enough of them do that I keep on check’n in!
UPDATE
Marc Davison has been hosting a related conversations (with a completely different take) on his blog where I’ve also been actively commenting.
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ines
EXACTLY!! treat it as a game and do with it as you please (or nothing at all) – for me it’s about meeting people without planning – it’s those informal meetings sans-agendas that lead to the most productive ideas. (like the cat-in-the-box)
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Gerry RealtyMan Bourgeois
Since Inman in NYC I’ve been working on a strategy for Foursquare. With the RE.Net crew playing (extensively) with FS, it helped me to get over the ‘teething’ of a new social media toy. Once understanding How it worked in practice I immediately started to think of How can this help me as a Realtor (agent, owner, etc…). I’m still trying to figure it out. As more Local’s are catching on, I find interesting that I know where they are (when they want me to know). I’ve used it to meet up with some local people when I probably wouldn’t have (helping to build relationships). Although I don’t have an exact strategy as of yet, I am still Thinking. Just like the rest of these Social Media tools (toys) – as Gerry “The Realtor” (a.k.a. RealtyMan) each one needs to be looked at individually but also in addition. and in combination with each other. Kinda makes ones head spin… (copied from my FB response).
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Ira Serkes
I’m still trying to figure it out – but I find it mildly addicting and receiving somewhat random badges and mayorships … is positive reinforcement at its best.
I tend to NOT log into foursquare, or do facebook updates, when I’m away from home and only our guard-cats Poudini & Baby T are minding the store.
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Dustin
You bring up an excellent point. I made the mistake of using my previous home as my “business” address one time and NEVER could get my name completely disassociated with it off the internet. During that time, I rarely felt comfortable tweeting when I was out of town, but even if I didn’t tweet, others would often tweet about me (i.e. “watching @tyr talk about…”), so it was an uncomfortable situation.
However, since our last move about a year ago, I’ve been ridiculously vigilant about making sure that my name and address are never posted on the internet (at least not together). I actually got a PO Box and send all of my credit cards, etc. there just to make double sure. Anyway, so far, so good…
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Dale Chumbley
Ah Foursquare… I must say, I love Foursquare! I will also claim “guilty” to hitting you up for that coffee, drink after hours, lunch or just a quick hello. To me, that is one of the beauties of Foursquare. When you want to be social, be social. If you have things to get done. Don’t check in.
Recently I met with a possible seller that came as a result of Foursquare. It’s someone I know lightly in Twitter & Facebook. I fairly regularly checkin within a block of his home. He has stopped in once to just say hi and recently contacted me within 30 minutes of me checking in by him to find out about his home value. My checkin reminded him that he wanted to chat real estate.
On another recent occasion, someone checked in at a local brew pub. I happened to be driving by at the time. I had a few minutes to spare. I popped in to see him and we sat and chatted (real estate stuff of all things) for almost 30 minutes. I continued on my way and he continued on his. He later tweeted “Just got a really great surprise visit from @DaleChumbley! Wonderful interruptions ROCK!” How cool is that!
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Rich Jacobson
I am for any SM tool/app that will foster greater connectivity potential. So many other tools/apps almost force you to spend more of your time in front of a screen or hand-held device, rather than actually ‘engaging’ IRL f2f contact. And I love the near spontaneity of fs!
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snroadmap
Short reflection on creating more intent around Foursquare http://bit.ly/al9ioe
This comment was originally posted on Twitter
Dustin
Facebook Takes Another Step Toward Merging Functionality of Pages and Profiles
Anyone who’s been following this blog knows I’ve been playing pretty heavily with Facebook Pages as a marketing tool and think the tools have already surprised Twitter as a micro-blogging tool in terms of functionality (and in many ways, even utility).
This morning, I noticed that Facebook has now taken it one step further. In the area that used to be reserved for making “friend” recommendations, they’ve now started including profile Pages!
This rocks and I’m sure will make it even easy for people to gain traction on their profile page. And if you want to join my page as the community I’ve created explores how to use social media and Facebook Pages to generate business, then head over and become a fan!
By the way, I really want to thank the 200+ people who have become fans over the past few weeks. It’s been fun to watch as more people join because the conversations have obviously improved. It seems like almost every micro-blog post, video, link, etc. is generating a conversation, which just rocks from my point of view!
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Fran and Rowena
Dustin,
More good information! We’ll be on the lookout for that.
We are finding that many people do not understand the difference between a profile and a page, and how they can be a “friend” and/or a “fan”.
thank you!
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Scotty Brown
Nice job trying to get more fans, but I’m smoking you now!
Cmon! -
Su Prieta
@Fran and Rowena, @dustin: I am afraid that I am one of those people that doesn’t yet know the difference, but I am intrigued. I am going to soon be looking to expand my marketing efforts on Facebook. But, I have been thinking of ways to market myself and my website separately from my social page on Facebook. How can I start a group where people can follow my me and my website as a fan? How has this worked for you?
Dustin, I’m would like to check out your page on Facebook. How can I do that?
Charles Richey
A friend of mine is launching a website for spa parts and filters so we launched a fan page for hot tubs about a month ago. Last time I checked it was almost at 2,000 fans. It will be interesting to see if that converts into traffic once the site is up and running.
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Dustin
Nice! I’m finding a ton of success with FB Pages with some of my clients… but it’s like most other online marketing. You’ve got to offer something of value and expect to spend a decent amount of time (or money) marketing…
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Courtney Cooper
I first learned about the page function from you and then I learned about being able to point a personalized domain (courtneycooper.com and dustinluther.com) to it from you and I am impressed! I hadn’t thought about the friends of fans part of it….But that is three great FB page ideas that came from YOU – plus I see my mug captured in your screen shot – LOL. Congrats on also being able to grab that elusive personalized FB page domain because of all your fans, too!
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Dustin
ahh… we’re just getting started!
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Jay Ehret
Good luck with the Facebook page Dustin. I will follow with interest. I am on record as saying that I don’t believe Twitter and Facebook are the best marketing venues for Realtors. However, you are blogging and that’s a good compliment to Facebook and Twitter marketing.
It’s interesting that your forward your web address to your Facebook profile. I’m curious as to your reasons.
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Ben
You absolutely spot on Dustin…being recommended to your friends fans is HUGE!!! You certainly have inspired me to get our team moving on our FB page.Its all about that value proposition -you so rightly mention – in this regard, look out for our video creation engine for individuals and small business to create video online for their real estate business in minutes and automatically syndicate to facebook pages!
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Dustin
Hi Jay,
I agree that twitter and facebook is a bad use of most realtors’ time, but only because they often do a horrible job using it as a marketing tool. Ditto for blogging, though. When done right, there’s no better way to reach a niche audience than with social media… and it’s often the niche audiences that provide the best referrals for most professionals (both online and offline!).
In terms of forwarding dustinluther.com to my facebook page, it’s simply so that I can link to it easily from sites like twitter. Recently (like this weekend), Facebook let me get a “vanity” url for my fan page so I can now link to my page via: http://facebook.com/dustinluther but before that I had to use a long URL with a string of numbers in it. Not very easy to share (or remember!).
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Dustin
When you get the Facebook Page built, let me know. I”m always curious to see how different people use the tool to market their biz.
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Ben
Sure thing! I`m curious to know how you would rank your top 3 fb functionalities? Those providing you the most traction on your profile pages right now!
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Dustin
great question… but not sure I have a “top 3″… Nonetheless here are some of the things that come to mind: Start with a niche… For example, I went after real estate professionals interested in social mediaGive regular updates (2 to 3 a day) of relevant and interesting stories. Try to keep self-promotion to a minimum… especially when building up the communityHave a unique landing page (tab). I use the Static FBML app for mine. Promote it around the web. I link to my FB Page from the URL link on twitter, from my blog, and in many other places. There’s a bit more to the magic… and like any other bit of online marketing, the more value you are willing to offer people, the easier it will be to attract attention.
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
David Losh
The comments are messy. It took me two tries to get to this box.
The time element to stay up on social media is a problem. So far my return on that investment of time is limited.
Let’s see if this works.
Thanks again.
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Ben
I was thinking more in terms of actual functionalities being provided by FB & through third party developers. You did mention the static FBML app which is no doubt useful! Nonetheless nice post… the value is undeniable!
What is your take on highlights and recommendations does one have any influence or is this appearing pretty randomly? I would think when it came to newsfeeds this is influenced by the frequency of posts very much on twitter lines…???
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Dustin
yeah… there’s just not too many apps that do much for a facebook page. The real benefits come from regular and engaging updates.
Highlights and recommendations aren’t really random. From what I can tell, it’s almost entirely based on what you’re friends are engaging with (i.e. “liking” and/or commenting on). That’s part of the reason that engaging content is so key. If you can get people to engage with your stuff, you can end up in front of their friends.
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Rhonda Porter
Dustin, I’m excited to see how the RCG FB page evolves and the new RCG Twitter. I’m surprised about your comment regarding traffic:
“Traffic: at this point traffic from
social media feeds (like twitter’s
stream and Facebook’s newsfeeds) are
generating more traffic than RSS feeds
for almost every website I run.”
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Mike Ciucci
Here again, I think that web 2.0 social media sites are the future. Always updated, always blending “personal” and “business” together, ever changing. For me, I’ll have to agree that I like FB better than what Twitter provides. Twitter is quicker, sure, but I’ve formed better relationships and ‘readers’ on FB.
Thanks for the article.
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Rhonda Porter
Dustin, let’s say you’re on a desert island, and you can only have one or ther other: twitter or facebook… which would you select and why?
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Dustin
hmm… With Facebook, I get more family and close friends who are most likely to help get me off the island, but with Twitter, there’s some nice mobile apps that would let folks know my exact GPS.
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Rhonda Porter
Too funny! Have you checked out Ning? (sorry…kind of off topic).
HAPPY FATHER’S DAY!
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Ardell DellaLoggia
Just logged in using Facebook. It shows my correct avatar in the sidebar. Seeing if that carries for a comment.
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Dustin
yeah… the problem is that the “system” just created a “new” account for you that’s not connected to your original RCG account… I still haven’t figured out how to delete the connection you made between your RCG account and Kim’s FB profile. But at a minimum, I know I’ll have to delete the one you just created (no use have two ardell profiles in the backend of RCG), so I don’t recommend leaving comments when connected to this account.
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Dustin
Thank you much
I have checked Ning out… but from a marketing point of view, it’s not much different than trying to build up a community with a blog. The hardest part of community building online is getting in front of people who “might” be interested in taking part and with Ning, you’re pretty much left to do all the marketing yourself (just as I was when I started RCG). The beauty of FB communities (like the RCG Page I started the other day), is that it lets you tap into a community of people where they already are, so it’s a lot easier to get traction.
This comment was originally posted on Seattle Real Estate ~ Rain City Guide
Dustin
Now Open! The 4realz Bookstore
Early today I was having a conversation with Eric Bryn on twitter when he said:
which was all the impetuous I needed to finally get around to publishing my very own online marketing bookstore here on 4realz. This is something I’ve been thinking about doing ever since I built a similar (Amazon-powered) bookstore for a client, but just never took the time to do for myself.
So far, I have three categories of books:
- Online Marketing
- Starting Your Business
- Blogging
and only two books in each category. My idea is to limit the books under each category so as to make it a “best” of breed books…
Nonetheless, I like the idea of adding a few more books to each of the categories and potentially even another category of two, so if you have a book that should be included because it’s been particularly inspiring to you, definitely let me know!
Dustin
Impact of Social Media in the Luxury Market
Earlier today I got my hands on a survey that the Institute of Luxury Home Marketing (ILHM) did of their members around how they are using social networks.
One of the reasons I really like this survey is that the number of emails and calls I get from luxury agents and brokerages has ramped up lately, and yet, I haven’t had a great source of data to at least anchor the conversation in terms of social media presence within the luxury market. This survey will definitely help me jump-start many of those conversations.
ILHM asked their members questions like:
- Which social networking websites do you use?
- If you had to choose just one social networking site for the member networking group, which would it be?
- Have you ever given or received a referral, or generated business via a social network?
The answers to these questions and more from the 473 members who responded can be found within their survey results document (PDF), but I’m gonna summarize what I think are some of the more interesting findings:
- LinkedIn (30%) and Facebook (28%) about equally dominate the mind-share of luxury agents
- Over 80% of the agents said they were using social networks
- When asked where ILHM should have a member group, people were equally divided between LinkedIn and Facebook
- 20% of respondents said they had generated business out of social networks
- Non-real estate social networks like Twitter and MySpace didn’t register much interest, while ActiveRain was the only real estate specific site mentioned that had any real traction
- The social networks offered by Zillow and Trulia didn’t even hit the radar on the survey. I’m not sure if this is because agents think of Trulia and Zillow as search sites and the idea of Trulia Voices or Zillow Advice being social networks didn’t occur to them or because the agents surveyed simply aren’t using these services.
I’m a bit surprised to see Facebook register just as high as LinkedIn only because LinkedIn seems like such a natural fit for luxury agents, but with so much buzz around Facebook in the press lately, in retrospect I shouldn’t have been surprised.
I’ve been telling agents for a long time now that they should be using LinkedIn to market themselves (that article is over 2 years old already)… and that advice rings even more true in the luxury market where it seems like agents are often extremely concerned with their image. Especially if you have years of experience, then you really have to try to look bad on LinkedIn.
And, by the way, if you’re looking for one more person to connect with on LinkedIn (or better yet recommend!), I’m always looking to connect up with interesting real estate people!
Update: I hadn’t noticed before posting, but John C’s comment prompted me to check out ILHM’s blog: Luxury Insight, where I see that they also posted information on the survey.
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Laura Monroe
Dustin~ This is very good info to know..I had always been wondering how the Luxury Market might do with Social Networking..now I know! Good work.
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John C
Thanks for the heads up on this. I had no idea the ILHM existed, much less had a blog. Interesting survey, but, as an agent in a second home market, I think they should have asked:
If you have closed a sale from social networking, was it giving a referral to another realtor, receiving a referral from another realtor, or contact directly from a consumer?
Then asked the same question about getting leads, not necessarily closed leads.
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Ricardo Bueno
I just want to say that LinkedIn has been and will remain one of my favorite social networks!
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Ricardo Bueno
PS. See what I mean about the gravater?
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Dustin
Yeah… You’re a monster here, but that’s only because you haven’t registered with a gravatar account.
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Ricardo Bueno
Ok…I’m testing a different email account.
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John C
Thanks Dustin. hope to see you again this yr at RE Tech South in ATL.
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Nick Bastian
Dustin, I find it very interesting that some of the answers varied so much. From, social networks are a must to we don’t need this because real estate is a people business.
I would also be curious to know the percentage of the luxury agents who have static web sites vs. self hosted blogs. -
Joshua Jarvis
Luxury Homes are defined the same in each market, but the prices ranges differ. What amazes me is how unsavvy the average agent is. Social Media allows you to put a big fat detour sign on the information superhighway to your site. Keeping the visitors there is certainly a skill, but if you get enough visitors you can create a buzz. Not sure why high end luxury agents are utilizing social media to touch the people who can actually afford the most expensive homes.
If I list one is Chateau Elan soon, I’ll be messaging rock stars, like Dustin Luther to see if he wants to buy it before someone else.
Interesting study, wonder how it compares to “average” realtor usage.
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myrtle beach rentals
this survery is pretty intresting. I also wonder how it compares to the average realtors usage. Most realtors I know don’t even have blogs yet
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Dustin
Joshua: Please do message me with any beautiful listings you care to share!
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Joe Zekas
I’m seeing intense interest in Facebook from agents I’m in contact with, and little or no interest in LinkedIn. The level of participation is a lot less than the level of interest, however.
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courtneycooper
I am pretty heavy as far as FB goes and probably should focus more on linkin at this point. It does seem to be the more “respectable” of the two:) Interesting numbers.
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Dustin
@Joe: Interesting that you’re hearing more interest in Facebook… It seems like there’s a core group that really likes one or the other service. I find facebook to be the most fun by far, but I’m tempted to eliminate all my “real estate-only” connections so I can enjoy it a bit more.
In terms of LinkedIn that just wouldn’t make any sense at all!
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Jamey Bridges
It’s nice to see that the Luxury market is in step with the online social networking. It seems that that group resisted much of the online world due to the belief that it was just a relationship business (hey, luxury people search online too
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A.BILE
I’m a bit late finding your post but.. thanks for commenting on this: it is is great material to understand how verticals are interested in social medias .
System5
Social media allows individuals to gain exposure and interact with other professionals in a particular field. Great networking resource!
Mike Carpino
I am sure each site brings something to the table. It’s hard to believe Facebook would be ranked up there. All I ever see is my wife sending cocktail recipes to her friends.
Dustin
NAR is upon us once again!
As I write this on a Wednesday night, I can’t help think what a long week it’s been! And yet, the week (and the fun) is just beginning.
Tomorrow morning I leave for NAR…. and it’s not until I hit Orlando that things really heat up.
First major stop:
Friday @ 12:30 I’m moderating a panel featuring Teresa Boardman, Jim Duncan, Ines Hegedus-Garcia, Ginger Wilcox titled Driving REAL business with blogs.
I’m really excited about this panel! There’s a great group of people assembled with very different styles of blogging and I’m really looking forward to peppering them with questions. The one warning I’ve given to the panelists is that I expect this to be an extremely fast moving panel and I’ve prepared a ton of questions that will let us get through a ton of information out of this crew! I’ve prepared the panelists that we’re going to move fast and I expect to get through a lot If you’re going to NAR, this is one of two can’t miss events!
By the way, you might remember way, way back in the beginning of February when I first reached out via twitter to start assembling the panel. It may be almost a year later, but that only makes it all the better to watch this panel come so close to fruition!
2nd Major Stop:
Sunday @ 11am, I’ve teamed up with Jeff Turner and Rudy Bachraty, to put together an “event” on Using Social Media to Engage Clients.
I don’t want to set expectation too high, but this is not going to be just another presentation… This is going to be an event. We’re going to have a lot of fun and have plans to involve people from all over the country!
By the way, this presentation started with a simple blog post from CRT that I picked up and was so lucky to have Jeff and Rudy join me in taking on this adventure. This presentation is going to be fun!
There’s more!
Jeff has tons of details on connecting with others within the social media space @ NAR. Here’s some highlights:
Some great posts about NAR events:
- NARlando Buzz
- Meet Trulia at NAR 2008 Realtors® Conference and Expo
- Where To Find Jeff Turner at NAR2008
- NAR Orlando 2008 – what not to miss
- Here’s the Thing – We All Want Credibility
And on the off chance you want to meet up with me in orlando, the best way to reach out is to connect with me on twitter! Can’t wait for the fun to begin!
Andrew Birchall
Thanks Dustin for all the helpful insight regarding blogs in real estate. I am just getting started with the process and was pleased to hear of the success realtors are having with these types of tools! Looking forward to getting started.
Dustin
Innovation can be rough: “People talk about having to ‘eat your children’ but those people clearly have no children of their own”
Paul 8:26 pm on February 22, 2010 Permalink |
I’ll answer this from the perspective of a real estate investor. I bring my golden goose realtor plenty of deals as an investor. From buying to selling and learning to market properties on my own, I firmly believe that my realtor closes more properties each year through me alone, than through all of his other clients.