Is Real Estate a Local Business or a Global Marketplace?
Nowadays, the mediums through which home buyers and investors look for properties have changed drastically. You will barely hear of people who went through a phonebook to pull up a real estate agent’s name and number, or that someone got a sweet deal on a property by going through a newspaper.
The world is now a global village, and most aspects of our lives are now integrated and linked through the use of different innovative technologies. The same is true for businesses, as geographical locations, in most cases, are not a limitation anymore.
Thus, we arrive to the debate — is real estate still a local business or a global marketplace? Let’s discuss.
Why Real Estate is a Global Marketplace
There is now a prominent blur between local and international buyers in the real estate industry. There is an increasing need of real estate businesses which can tap into international buyers who are interested in investing in your area.
The increase in travel and tourism is also resulting in the desire of foreign nationals to buy vacation homes and second homes. Many also seek to set up offices in specific areas all over the world.
Therefore, it is crucial that real estate professionals market themselves not just locally but globally.
Why Social Media Marketing Is Important For Real Estate Agents
Through the use of tried and tested social media marketing techniques, Facebook Ads and modern technology, real estate agents can attract buyers to invest in off-plan (pre-construction) developments literally on demand.
Unlimited Market Audience
Traditionally, real estate has always been considered as a local business. Because of this, agents usually market properties to the same geographic area. As a result, competition rises and growth potential decreases.
Just by employing simple social media marketing tactics, you can expand your real estate business internationally and get in front of millions of potential buyers.
Less Competition, More Leads
Social media marketing is really important for real estate businesses as it helps limit competition due to the wider audience you are reaching. And of course you will get a lot more leads that way.
Generation Of Fresh Leads
One of the most important aspects of real estate businesses is to constantly get new leads. In real estate, you are not selling perishables or everyday items. Realistically you will only deal with each client of yours every few years.
Social media marketing helps you get fresh leads on a regular basis. This means that you will not have to scour through the same old area over and over.
The Bottom Line
The bottom line is very straight forward. In order to really succeed in the real estate industry, you will have to move from the mindset of marketing locally and, instead, market globally through the use of social media.