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Why Facebook Is the Best Platform for Real Estate

Why Facebook Is the Best Platform for Real Estate

As of 2020, 1.69 billion people were using Facebook. That’s a HUGE number! Of those, almost 70% of users log into their Facebook accounts every day. Instagram is now the second platform quickly soaring in popularity after Facebook. So, what makes Facebook specifically the best platform for real estate ads and marketing? In this post by Cash for Home Arizona, we take a look at that…

Real Estate is Visual

People are visual creatures. It’s natural to get enamored looking at beautiful home pictures online and feel like investing in one too. Facebook being a largely visual platform fits the bill. It tickles that visual fantasy that every aspiring home-owner has; thus helping to target the right clients.

It’s Personal and Emotional

Real estate investments are one of the most important decisions. They’re also highly personalized and come with an emotional investment. That’s why people want to work only with someone they can trust. Facebook is that platform where you can show what a trustworthy and bankable person you are to work with.

It’s local

The real estate business is all about local targeting. With the help of Facebook Ads Manager, you can target buyers local to your local market, suburb, and/or city.

It’s Data-Driven

What kind of clients do you enjoy working with the most as a real estate professional? It is families? Is it new couples looking for homes or professionals who move to new cities? Facebook Ads Analytics lets you target the right kind of clients and the most profitable ones based on the data that works for you.

How Much Do Real Estate Ads cost on Facebook?

The good news is that real estate ads on FB don’t cost as much as you would think. It all comes down to how well you play your cards. For example, it all depends on the quality of your ads, the kind of customers you are targeting, how well you target them, and how many other businesses are targeting the same demographics.

Although it’s hard to tell the cost per lead, the general assumption is that it can fall anywhere between $4 – $100/lead. You can get the price per lead substantially down as you get better at Facebook advertising.

Tips For Capturing Ready-to-purchase Audiences via Facebook Ads:

Explore the Demographics, Location, Behavioural Targeting, and Interests Options

Targeting by Zip Code

Naturally, you should begin by targeting the region where you sell properties. But, do not make the mistake of being overly cautious and targeting too small a radius. It’s good to target zip codes from where people move to the location based on your selling history and previous experiences.

Targeting based on the Age of Buyers

There’s no point targeting teenagers or 18-year-olds who have no plan to invest in real estate any time soon. You might want to target working professionals or those at managerial positions who typically age between 35-45.

Targeting by Income

There’s nothing better than knowing how much your prospective buyers are earning. The good news is, Facebook Ads Manager lets you see that. Pretty neat, huh? This kind of information is a goldmine for realtors as you get to target audiences based on how much they earn. You can find this option under “Detailed Targeting > Demographics > Financial > Income”.

Targeting by Home Ownership Status

Are you targeting renters, first-time buyers, or homeowners? For example, if you sell affordable condominiums in an urban area, you may want to target first-time buyers. You can find this option under “Detailed Targeting > Demographics > Home > Home Ownership”.

Behavioral Targeting:

This option in Facebook lets you target people based on their behavioral pattern; more specifically their tendency to move to your target zip code. You can find this under “Detailed targeting>Behaviours>Residential” profiles. In there, you should see the option of ‘Likely to Move’.

Set a Budget For your Ads

Most realtors make the mistake of putting off marketing during peak season just because business is going well during those months and they’re busy with other buyers. Don’t do that. If you use marketing as a tool during this time, you can grow your success exponentially.

Therefore, you must plan ahead of time. Set aside a budget so you can hit while the iron is hot and beat your competitors before they can steal the best leads during peak season.

Use Carousel Ads For Showcasing Multiple Properties/Rooms

Facebook’s Carousel Ad option is designed specifically for businesses with visual appeal such as real estate. Basically, you can use this catalog-type formatting to showcase a series of appealing images of residential properties of different rooms/features. It makes scrolling through myriad images a breeze.

Video Works – use It More Often

Videos are a highly underutilized marketing tool that has an amazing rate of returns. Although it has begun to catch on, most businesses find it both challenging and intimidating; at least initially. Many businesses find that after deploying video ads, their inquiry rate increases sometimes by 400%.

Videos are better at telling stories and hitting that emotional chord; if done right with proper editing and the right kind of music. They also give a more realistic picture and paint things more impressive.

Pro Tip360-degree videos are a step up as it gives viewers the option to move their mouse around and get a virtual tour of the apartment/house they want to explore.

Create Stunning Ads That Appeals to a Lifestyle

Real estate is all about visual appeal. Those who understand this have a dedicated team of photographers to capture all the most appealing aspects of a residential property. Therefore, we cannot emphasize enough how important it is to pick high-quality and appealing images for your Facebook ad to draw people with certain lifestyles in.

Facebook ads that have the visual hook of appealing imagery carry higher rates of return. Also, remember that first impressions are the most important ones.

Bottom Line

As you can see, when you have the right kind of knowledge in your hands, a Facebook ad campaign for your real estate business doesn’t have to be as intimidating as you might think. Also, with time – as you get the hang of things, things will start coming intuitively to you.

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