As a realtor you have surely heard about the promise of great rewards social media can bring. These promises have enticed thousands of realtors into the ocean of social media networking with minimal, if any, planning. But imagine for a moment if your social media activities delivered even half of the promised potential. How would you manage this social media-generated growth??
What Social Media Success in Property Industry Looks Like
The picture of you being a dominant realtor in your chosen market might look something like this:
- you have a steady stream of leads being delivered from multiple online channels;
- you enjoy a high conversion rate of leads to listings because of the additional strategies and exposure you can offer as a result of your social network;
- your average selling time is less than other agents because of systems you have in place to tap into your extensive network.
If you believe the promise of social media, this picture is possible because of a successfully integrated and implemented social media strategy which may consist of these things:
- two or three vibrant and dynamic Facebook pages that target different communities;
- hundreds of followers on Twitter;
- an automated email series sent to tightly focused target audiences;
- a vibrant Youtube channel;
- a high-traffic blog that drives visitors to your corporate website.
As great as these two pictures are, they are very hard to maintain at the same time. This is because as your social media activities drive more business to your door, you will naturally have less time to spend on maintaining the social media channels the brought you the extra real estate business in the first place. After all, you’ll be too busy following up more leads, signing up more listings and selling more properties.
The logical next step to this situation is to see your social media network suffer from neglect – or you suffer a physical and mental breakdown, whichever comes first.
How realtors can prepare for social media-generated growth
But seriously, while business growth is always welcome, unexpected or unplanned growth brings its own set of problems. One way to avoid these problems is to imagine what a successful business model will look like for you and ask yourself, “What systems or people will I need to support that model?”
If your picture of a successful business model is similar to the ones described earlier, it will be clear that there will come a time when you will need to delegate or outsource the activities that don’t have to be specifically done by you. The time to start preparing for that day is now.
The three steps offered below will allow you to ensure the foundations are in place to better cope with the business growth you desire.
- Take an audit of the social media activities you currently undertake. Categorise these activities into a) what you MUST do your self (Me), b) what you could delegate to an employee, and c) what you could outsource to a contractor. At this point don’t concern yourself with the cost of outsourcing and delegation. It will be more than covered by the growth in business.
- Writing down systems you use to fulfil your social media obligations. Just by doing this step you will be bringing the days of real estate domination closer because you will be actively looking for more efficient ways of doing things. These step-by-step systems can be then handed to others to complete for you. You may even find there are some steps within a longer process that can be delegated (e.g. the editing and uploading of a testimonial only you can record.)
- Set-up a specific email for your social media activities. I recommend a Gmail account because you will be signing up to various Google services which other people will need to have access to and the same Gmail login will be used by these. You will also access other third-party services and all of these will require an email address for registration so it is better to keep your personal and/or professional email detached from these.
Take these simple steps and you will be adopting a more business-like attitude to your social media activities that keep your goals in mind. This means taking a systematic rather than ad-hoc approach so you are best place to change gears and adapt to the increased demands of your core real estate business while making sure your domination of your real estate market isn’t just a passing phase.
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