Generate Real Estate Business Using Facebook Advertising

Leads and more leads

There is a quote by the very successful real estate tycoon Gary Keller that goes like this: “Lead generation comes first, last and always.” When someone like him says something like that, it should be a wake-up call for all those thinking about getting into the real estate business. In this day and age, social media is an excellent tool to get those all-important leads. Facebook is an excellent example of this since it is incorporated into our everyday lives. However, the number of people who use Facebook successfully for business purposes is still shockingly small. It is not because they are not trying. It’s because they are doing it wrong.

Lead Generation

Most real estate agents who use Facebook, do it thinking that they can get leads by just having a Facebook page and throwing up an ad or two.  This is not enough. The reason why agents make these sorts of mistakes is because they think they will get name recognition by doing taking this approach. However, unlike very big companies that have limitless amounts money to do marketing, it is difficult for a small-time agent with limited resources to get name recognition. It’s not uncommon for agents to pay the one-time fee for Facebook ads, only to find that it didn’t get them anywhere.

This where instead of name recognition agents need to concentrate on lead generation. The following is another quote by another famous real estate educator Than Merrill “No matter how much you know about the business, how hard you work at being better than your competition, or how much you try to be different and stand out from the crowd, at the end of the day what matters most is how many leads you generate.”

So, why is it difficult for people to understand that Facebook can be used for lead generation? Simple. Ever since its inception, Facebook has been viewed as a social site. This no longer true. Facebook has come a long way since its early days, and today it has a whole set of tools such as paid ads, social graph search, and business pages. All this makes Facebook a business tool, as much as a personal tool.

Converting Leads

So how does one go about turning those leads into customers? A popular method is to pixel the cold leads and then later try and convert them to hot leads. A cold lead would be a customer who is just browsing around without any specific ideas, whereas a hot lead is someone who is looking to buy and needs more guidance. Once hot leads are identified they can be targeted and shown ads that are more specified. This way, an agent can build a database of hot leads and start doing some real business based of soft connections.

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