How Important Is Social Media Marketing For Your Property?

How Important Is Social Media Marketing For Your Property?

When it comes to selling a property, the way we advertise has changed significantly over the last ten years or so. Traditionally, an estate agent would have their displays in their window and send out property details to registered buyers. But since the advent of the internet, this has all changed with the property portals such as Zoopla providing an easy way to see most of the properties available in one place. Of course, this doesn’t replace the skill and experience of a quality estate agent, but digital marketing has changed the way we look for property.

So, comes the question - How important is social media marketing for your property? Let’s take a look.
What Is Social Media Marketing?

Quite simply, it is using the power and reach of social media to showcase properties, give value and attracts potential buyers. The short-term nature of estate agency social media marketing is listing properties there. But building relationships with the local community means that an estate agent can build an audience for your property months or years before you put it on the market. This means better prices and quicker sales – and we all want that. So, let’s take a look at what the benefits are for your property.

London – The Global City

London isn’t just attractive to the local market. It is an international market, even in post-Brexit times. High end homes saw an increase in sales over the first 8 months of 2020 of 16% on the year before. This totals £1.1 billion in sales. London is always considered a safe place to invest by overseas buyers looking for somewhere to place their money. Plus, having a place in London is a status symbol for many people from around the world. The global city still has an allure that can draw buyers from all over the world.
With this in mind, the reach of social media is hugely important. If people from across the planet can see your home for sale in London, then they can become interested. Many London estate agents are reporting more and more sales where the buyer hasn’t even seen the home they are purchasing. Being on social media can aid those sales.

How Important Is Social Media Marketing For Your Property? Cost And Reach

There isn’t another way of marketing your property to such a large audience at such a small cost. The figures speak for themselves. The average UK user spends 2 hours 22 minutes a day on social media. And there are estimated to be approximately 5 million plus London Facebook users, as an example. This means even if you’re selling to just the London market, there are a huge number of potential buyers to be found there.
And all of this happens without financial cost. This helps your estate agent to keep the costs down when selling your home.

There Are Riches In Niches

But it’s not always about the big numbers. The little numbers can make a huge difference to your chances of selling your home for the best price in the shortest timeframe possible. This is where you start to segment the market, whittling down the millions of people on Facebook Instagram to the select few that are looking to buy a property just like the one you have for sale.

Social media ads are one way of targeting the people who would be ideal for your home. But developing groups, engaging social pages and connecting with people are all tactics that we use to help connect motivated buyers with your property. To a degree, we don’t need the 5 million. We need the ten or twenty that are looking to buy what you have to sell. And that’s where looking at niches brings those vital connections that lead to a sale.

London’s Millennial Generation

London, as you would expect from a thriving international city, has a large millennial population. Approximately 2.5 million+ millennials live in London. And this means two things when selling property on social media –

1. This is the age bracket where people are looking to get on the property market.
2. Millennials trust social media channels when it comes to buying and selling.

These two facts together mean that marketing a property on social media can be especially relevant in London. When answering the question ‘How important is social media marketing for your property?’ the answer comes in many forms. But the facts above mean that it can be more relevant in London than many other parts of the UK.