Posts Tagged ‘Real Estate’

Social Media’s Influence on Industries and Government

Thursday, March 4th, 2010

By the Social Media Dynamics Team

Social media is certainly having an effect on individuals, businesses and schools.  Social media’s reach is now helping and in some cases compromising industries and government.  This is the first in a 5 part series of articles how social media is influencing our lives:

How Social Media is Influencing the Real Estate Industry

We chose real estate because being a REALTOR means accepting the standards and ethics from the industry.  We recently came across the following amendment which now includes technology/internet in their Standard of Practice:

“Code of Ethics and Standards of Practice of the NATIONAL ASSOCIATION OF REALTORS®”

http://www.realtor.org/mempolweb.nsf/pages/printable2010Code

Standard of Practice 15-2
The obligation to refrain from making false or misleading statements about competitors, competitors’ businesses, and competitors’ business practices includes a duty to not knowingly or recklessly publish, repeat, retransmit, or republish false or misleading statements made by others.  This duty applies whether false or misleading statements are repeated in person, in writing, by technological means (e.g. the Internet), or by any other means.  (Adopted 1/07, Amended 1/10)

Standard of Practice 15-3
The obligation to refrain from making false or misleading statements about competitors, competitors’ businesses, and competitors’ business practices includes the duty to publish a clarification about or to remove a statement made by others on electronic media the REALTOR controls once the REALTOR knows the statements is false or misleading. (Adopted 1/10).

NATIONAL ASSOCIATION OF REALTORS® is holding the REALTORS responsible for what is posted on their electronic media sites.  Our interpretation is as the owner of the blog or Facebook Fan Page you have a duty to monitor and clarify or remove any postings that you know is false or misleading.

Filter your blog posts and check your Facebook Fan pages often.  As evidenced in recent news accounts, the viral effect of social media can get away from folks extremely fast.

More articles on Social Media’s Influence:

How Social Media is Influencing the Court System

How Social Media is Influencing the Jury Selection Process

How Social Media is Influencing Employee Networking

How Social Media is Influencing Local Politics

@social_dynamics

House Hunting Reaches New Level iPhone Real Estate Listings

Sunday, January 24th, 2010

By Sharon Hill

Way back in the day: You are out and about in the neighborhood you are interested in moving and looking for real estate signs. Or, you are in a realtor’s office looking through printed books of listings.

Back in the day: You are out and about in the neighborhood you are interested in moving and looking for real estate signs. Or, you are in the realtors office looking through the text only database of homes.

More recently: You are out and about in the neighborhood you are interested in moving and looking for real estate signs.  Or, you are online yourself searching for properties and making a written list (or cut and paste list) of homes you would like to see and email your realtor.

Right now: You are out and about in the neighborhood you are interested in moving AND you have the iPhone app from Realtor.com which knows you are in the neighborhood and immediately provides you active listings with descriptions and pictures.

You can also disallow Use Your Current Location and type in city, state and/or zip to look anywhere you want and plan out your house hunting trip in advance.

Email the listing to your realtor or a friend. You can also post listings to Twitter or Facebook.

This app is amazingly simple to use and will make finding that right house and sharing your excitement with others so much easier.

@social_dynamics

Real Estate and Social Media Marketing – Part II

Friday, July 31st, 2009

By Sharon Hill

What is the difference between networking and marketing? Same channels may be used for both such as Twitter, blogging, websites, Facebook and LinkedIn. The difference is in the interaction. Social networking was addressed in an earlier blog Real Estate and Social Networking – Part I

Social media marketing is using social networking outlets to communicate to people your experience, knowledge and success in your professional endeavors. Potential customers can see how many followers and connections you have. They can read real recommendations by real people. If I am a buyer and I use social networking as a way to find people/businesses, how do I find you? If I find you what is being said about you and who is saying it?

Marketing yourself and your business on a one-on-one and face-to-face basis is what you do. Adding the power and influence of social media marketing in a one-on-one and profile to profile basis is a way to increase your business.

What is the difference between social networking and social media marketing? See Real Estate and Social Networking Part I

@social_dynamics

Real Estate and Social Networking – Part I

Friday, July 31st, 2009

By Sharon Hill

If you are a realtor and have not yet embraced social networking what are you missing? I have an opportunity to interact with realtors on a fairly regular basis. So much of their business is through referrals or warm leads. That is social networking. “My realtor was just great, knew the area and made the process easy for a first time home buyer like me.” This written recommendation will be shared with others. “Word of Mouth” is becoming “Word of the Web”

So where do you start? There are no bad choices – just not great execution. Remember the old adage: write about what you know. What do you know? Our suggestion is to focus locally and become an expert.

One of the reasons I hired a particular realtor when selling my house was that she had built up list of people that were already in the market or soon to be in the market to buy a home. This was before the advent of social networking. Now that same realtor can increase the list of potential buyers through connecting, comments from blogs and tweeting to name a few.

I also have an opportunity to interact with buyers and sellers. The number one complaint is about a lack communication with their realtor. With social networking you can be proactive in your communications and keep your customers informed of your progress. You can invite your customers to go to see the status using a variety of choices.

Social networking to build a great network of people with like goals and interests around the subject of real estate.  How great is that?

What is the difference between social networking and social media marketing? See Real Estate and Social Media Marketing – Part II

@social_dynamics

Getting Started: Planning Your Social Media Strategy

Monday, July 27th, 2009

By Jan Carroza

Think about this process as developing your own Social Sphere of Influence. Take the aerial view of your business today and where you want it to go in the near future and in the long-term. What are your goals?

Not all elements may be appropriate for your business and you need not tackle every facet all at once. Even pros like Mari Smith, a renowned maven in Facebook, suggest that embracing manageable efforts in sequence might be best for many of us. Dani Babb on Fox Business suggested just getting started and that you may make mistakes along the way.

The idea is to do some planning. You may want to outsource your online business management at the beginning when the setup is more labor intensive and while you learn. Gradually you can take it over as you are able to accommodate the requirements of time and resources in your organization. Or you may decide to continue with outside guidance as the Social Sphere expands.  For example, I heard that Comcast has doubled their social media staff from about 7 to 14-15 in the last year. Prepare for success.

Speaking of success, you might like to know about some real results before we get started.  “The world’s most valuable brands. Who’s most engaged?,”  a study prepared by Wetpaint and Altimeter, demonstrated that revenues increased by 18% by using social media (http://www.engagementdb.com).

So let’s get started. Make a list of what you want and need your Social Sphere of Influence to do for you. What does that list look like?

Consumer connection  – Is that:

  • Retention
  • Finding new consumers
  • Education
  • Building relationships
  • Getting feedback from consumers
  • Increasing sales

Other Initiatives

  • Finding, talking to investors
  • Introducing new products, new services

What else do you need to do?

Some of the forms beyond your website that you can put in your Social Sphere might include:

  • Blogs
  • White papers, articles, newsletters
  • Social media: LinkedIn, Twitter, Facebook and an ever-growing list of large and niche networks

Each choice offers different opportunities. Each offers the possibilities to have different as well as several voices. Formats can be intriguing. Twitter’s short format can be challenging. Each has its own place and may or may not fit with your plan. Any and all can be viral. So a good consumer experience has an excellent chance of being shared.

Take blogs, for instance. Blogs can look like a website with the look and feel, navigation and sections for Services, About, Contact et al. The difference should be the immediacy of news that’s regularly updated from once a month to once a week. This is the Podium point-of-view. Your voice.  Representing your company’s voice.

But the blog can be opened up to receive comments from readers, consumers, and the entire Spheriverse. Now it becomes a two-way superhighway of discussion, feedback and response to that feedback. An ongoing conversation. This has the power to be exponentially expansive and rewarding – for both your business and your consumer.

Articles, white papers, press releases, and newsletters are also a way to put out your voice, your opinions, and your announcements. But your website and all the parts of your Social Sphere will bring conversation back to you. It’s your job to plan the management of receiving and responding to those messages.

The social media each have their own channel of audience to offer. LinkedIn has professionals and folks looking to hire and be hired. There are groups to join to begin conversations. You can seek out and make important connections with people looking for answers.

Consumers are everywhere in all the social spaces. Your approach to each will probably be a little different with each one. Certainly the confinement and environment of the formats and technologies of each will impact the messages that you design.

As time goes on, no doubt the Spheriverse will continue to expand at a rapid pace of cyberspeed. Choices will increase. But the concept of the two-way dialogue remains constant. The challenge is in managing the communications most effectively. Enjoy and grow with the movement.

@social_dynamics