Social media platforms have gone from places to connect with friends, to follow celebrities or to get news to an array of sites packed with customers ready to engage with business owners of all kinds—including real estate investors, landlords, brokers and the like. In this day and age, being active in social media is a must for small business owners. But how do you connect with the right people? Below are our top tips on how to use social media the right way, to grow your residential real estate investment business:
Research First: Before you make a business account on any social media site, search within the platform for connections within the real estate industry. Search for terms such as real estate, landlord, flip, rent-and-hold, etc. to see which industry players are active on the top social sites (competitors, possible business contacts, partners, etc.) You will find that some social networks are more suited to your business than others.
Create a Strategy: Once you have a sense of where you want to engage, the next step is to figure out what your goals are, the type of content you plan to post and with whom you’d like to engage.
Talk With Your Customers: Posting is not the same as engaging. The most important thing to remember is that social media is a two-way conversation. Long gone are the days of traditional advertising where you can talk to your customers. Now you have to talk with them.
Be Consistent: Probably the worst thing you can do in social media is to start a profile and not keep it up. Before you enter into a social media space, make sure that you have the time and resources to continue to post, follow, connect and engage regularly (every day in many cases) so that you can reach your audience and become a source of information for them—which brings us to our last point.
Don’t Oversell: Social media is not the place to bombard customers with advertising and “all about me content.” Businesses that have the most success using social media as a marketing platform do so by becoming the place to go for advice, information and industry perspective.
Don’t forget to use all the social media tools out there and look for industry-specific sites too. LinkedIn offers several groups for real estate investors, and BiggerPockets and Connected Investors may be great places to look for brokers, realtors, property managers and partners.
Disclaimer: The information in this blog has been prepared solely for informational purposes. The contents are based upon or derived from information generally believed to be reliable although Visio Lending accepts no liability with regard to the user's reliance on it. For legal advice, please contact your counsel.