For real estate professionals, it’s no secret that success hinges on more than just closing deals. In the competitive real estate world, the ability to attract potential buyers through engaging marketing is arguably even more crucial. After all, how can you sell a property if there’s no one interested in buying it?
Gone are the days when real estate agents could rely solely on local networking, supermarket bulletin boards, and door-to-door flyer distribution. Today, that approach simply won’t cut it. Half the people at the grocery store are engrossed in their phones, while the other half are relaxing at home, awaiting their online grocery deliveries.
So, how do real estate agents secure new leads in our tech-driven world? The answer is Facebook! A recent study by Mediakix revealed that the typical person dedicates 35 minutes daily to Facebook. This presents realtors like you with a prime opportunity to connect with the right audience through compelling Facebook ads.
Facebook, much like real estate, is inherently visual. It also offers highly specific targeting options, allowing you to reach your ideal market, from newly married, first-time homebuyers to affluent retirees seeking a coastal retreat.
We’ve established that Facebook advertising is the solution, but what’s the underlying strategy? How can you optimize your budget to ensure you’re not squandering valuable marketing dollars on ineffective campaigns?
Here are seven highly effective strategies to help you attract ready-to-buy prospects on Facebook. Need a helping hand with your ad campaigns? Download our (complimentary!) All-Star Playbook to Online Advertising.
#1: Leverage Location, Demographics, Interests, and Behavioral Targeting Options
Beyond its immense popularity, Facebook’s strength as an advertising platform lies in its remarkably detailed targeting capabilities. After defining your campaign goal, you can layer precise options using various targeting parameters to guarantee your ads are seen by the right audience.
Let’s explore some targeting possibilities that could resonate with your potential buyers.
Location Targeting: Focus on Zip Codes
Start by establishing location targeting based on the area where you have properties for sale. However, avoid being overly specific. Targeting within a one-mile radius could be too restrictive, as people may be relocating from other areas. Consider targeting zip codes known for residents moving to your selling area, based on historical sales data.
Age Targeting: Target Age Groups Most Likely to Buy
This one is fairly self-explanatory but crucial. There’s no point in showcasing your ads to an 18-year-old who likely can’t afford that $2 million waterfront mansion you’re trying to sell. Focus on age ranges that align with your target market.
Demographic Targeting: Filter by Income
By navigating to Detailed Targeting > Demographics > Financial > Income, you can target your audience based on their income level. Impressive, right? This is invaluable for real estate agents as income often dictates the types of properties individuals can afford.
Demographic Targeting: Filter by Home Ownership Status
Detailed Targeting > Demographics > Home > Home Ownership presents three options: first-time homebuyer, homeowner, and renter. Depending on the properties you’re selling, this can be incredibly useful in pinpointing the right individuals. For instance, if you specialize in reasonably priced condos in a trendy urban neighborhood, you’d want to target “first-time homebuyers.”
Custom Audiences: Utilize Lookalike Audiences
Assuming you’re skilled at your job (which I’m sure you are), you probably have a list of recent buyers. With Custom Audiences, you can upload this list to Facebook and let Facebook work its magic to identify similar individuals (known as lookalike audiences) who are likely ready to invest in your beautiful properties. This list could be a customer list or even a list of individuals who have visited your real estate website.
Behavioral Targeting: Focus on Those “Likely to Move”
This might be one of the most impressive options – Facebook lets you target people who are likely to relocate! Navigate to Detailed Targeting > Behaviors > Residential profiles to find the option for individuals who are “Likely to Move.”
How Facebook determines this is a mystery, but hey, if the option exists, why not take advantage of it?
To recap, here are some targeting ideas to ensure you’re investing your marketing dollars effectively:
- Target by zip code
- Target by age ranges
- Target by income
- Target by home ownership status
- Target a lookalike audience
- Target people “likely to move”
#2: Showcase Your Properties with Engaging Video Content
Video marketing is a surprisingly underutilized strategy in the real estate industry. While some have embraced its potential, many still find video intimidating and challenging.
But it doesn’t have to be! And the rewards are well worth the effort. According to an Australian Real Estate Group, listings that included a video received 403% more inquiries than those without!
This makes perfect sense. As some of you may have learned the hard way, photos can be incredibly misleading. This holds true not only in online dating but in real estate as well.
While video can’t fully replace an in-person visit, it provides viewers with a more realistic glimpse into the property. Mr. Sell Team excels at using video for property marketing. Not only do they produce impressive videos of their listings, but they also
To take it up a notch, consider creating 360-degree videos. These allow potential buyers to navigate the space using their mouse, as if they were physically touring the property and exploring at their own pace. It’s incredible! Check out this guide from Wistia on how to make a 360 real estate video. Finally, when uploading your video to Facebook Ads Manager, adhere to their recommended video specifications, as outlined below.
#3: Utilize Carousel Ads to Feature Multiple Properties (or Multiple Rooms Within a Property)
If you’re unfamiliar with Facebook’s Carousel ad format, it’s time to get acquainted! This ad format is ideal for any visually appealing industry, making it perfect for real estate. Carousel ads allow advertisers to present a series of images in a catalog-like format, enabling viewers to scroll through and view multiple images or listings.
Take a look at the example from the UK-based company Draft.ie below. They use this ad format to showcase multiple listings to their audience, increasing the chances of capturing a buyer’s interest. Think of it as hitting multiple birds with one stone, as a single ad offers multiple paths to conversion.
Another noteworthy aspect is that Draft.ie includes the price, location, and number of bedrooms in each listing, which brings me to my next tip…
#4: Prioritize Transparency in Your Ad Copy
One of the most significant challenges in real estate is establishing trust. When making a substantial financial and personal decision that will impact their daily lives, people want reassurance that they’re dealing with a trustworthy professional.
Building trust can be tough, especially with so many real estate horror stories circulating. One effective way to foster trust is to be as transparent as possible, ensuring potential leads never feel deceived.
When crafting your Facebook ads for real estate, feature authentic imagery and be upfront in your ad copy. Provide essential details like price, square footage, location, number of bedrooms, etc., directly in your Facebook ad, giving consumers a clear understanding before they even click.
Boston Proper Real Estate demonstrates this effectively by providing comprehensive descriptions for all their properties. The example below showcases how they clearly state the rental price, available dates, location, and included amenities (heat, water, etc.).
#5: Plan Strategically to Increase Your Ad Spend During Peak Seasons
Experienced real estate agents understand there are peak periods when potential buyers emerge, wallets in hand, ready to make a purchase. It’s easy to neglect marketing during these busy times, assuming you’ll be occupied with other potential buyers. However, this is a critical mistake. You have a significantly higher chance of selling if you get your listings in front of the right audience on Facebook during these high-demand periods.
To capitalize on these peak seasons, plan ahead and allocate a slightly larger budget to your ads, expanding your reach before your competitors swoop in.
So, when is the optimal time to sell properties? According to Zillow, it all comes down to weather patterns! “In warm-climate markets like Miami, the ideal window begins in March. But in regions with harsh winters like Boston, waiting until mid to late April is your best bet,” states Zillow.
Zillow also reported that homes listed from mid-March to mid-April sell approximately 15% faster and for 2% more than average listings. “That’s a national premium of over $4,000. And in competitive markets like San Francisco, it could translate to an extra $22,000 in your pocket!” exclaims Zillow.
#6: Use Testimonials and Reviews to Build Trust in Your Services
I’ve touched upon the importance of building trust, but besides transparency, there’s another way to achieve this through your advertisements – let your satisfied clients do the talking.
While it’s easy to boast about your own greatness, it carries more weight when it comes from an unbiased source. That’s where customer testimonials and reviews come in.
The image below features Salt Lake City realtor Dustin Brohm’s Facebook page, where he has received nothing short of five-star reviews. Reading through the positive experiences shared by his former clients can instantly break down any walls of distrust.
Take it a step further by incorporating these glowing reviews into your ad copy. When introducing your brand to new prospects, it’s the perfect opportunity to showcase the positive experiences of others.
#7: Capture Stunning Ad Creative that Evokes a Lifestyle
Last but certainly not least, it goes without saying that your visuals must be absolutely captivating!
Real estate professionals typically have this aspect down to a science, enlisting professional photographers to capture the desired aesthetic. Select high-quality images for your ads that not only showcase the property but also evoke a certain lifestyle to entice potential buyers.
This can be integrated into your ad copy as well, but remember that first impressions are everything. If you can successfully appeal to a desired lifestyle through impactful imagery, you’ve secured a strong hook for new leads.
Facebook advertising doesn’t have to be an overwhelming or tedious task for real estate agents. Embrace these tips, have some fun with the process, and watch as your listings are quickly snatched up!