A recent study on how brokers and agents use technology revealed a big opening for the value of adding an information-filled real estate data API to a website. Here’s what the Real Estate In A Digital Age 2019 survey found:
- 47% of Realtors surveyed said Social Media was their best source for generating high quality leads
- 26% said they used social media to promote listings
- 25% said social media helped them build or maintain relationships with existing clients
- 21% had a social media account because they felt they were just expected to do so
- 13% used social media to find new prospects
- 5% reported they enjoyed using social media
- 3% said they used the platforms to network with other agents
Real Estate Data API Provides Valuable Attention-Getting Content
The fact that brokers and agents are using social media more and more is of course, not surprising. But this data does present some interesting opportunities if you take a second to examine the results. And those opportunities can be enhanced by an agent simply adding a Real Estate Data API from a national data provider to their website.
Let’s start with the number of agents who said they use social media to find new prospects. Surprisingly, that number appears low, given the influence of social media today. There’s an opening there to be exploited. This is where a Real Estate Data API can be a great tool to add to an agent’s marketing toolbox.
But let’s be real. The competition for people’s attention on Facebook, LinkedIn, Instagram, Twitter and Pinterest is intense. Everybody is pushing hard on those platforms. There are several reasons that drive that use. One of the major reasons is that those platforms are free. (Although, you can target better with paid advertisements).
However, that “free” entry ticket can be deceiving. To truly get the attention of people online, and go a giant step further to persuade them to give up their contact information, there is a price. It goes back to that old saying, “To get something, give something.”
Sure, posting listings is one way to provide valuable information to social media visitors. Some of them will be interested in that listing for the $650,000 home on the cul-de-sac with 4 bedrooms, 3 baths and a pool. But not all of them. So agents need more information to attract attention.
How about updated real estate data on the latest market conditions? Quite a few people will be interested in those kinds of posts. Not just buyers. Sellers too. By adding a Real Estate Data API from a national data provider, an agent now has a source for a vast array of hyper-local information they can place on their website. This is crucial, because an agent should want to leverage that valuable data into either:
- Driving consumers to their website
- Asking buyers to call or fill out a contact form
- Asking homeowners at some point to fill out a contact form for a more in-depth CMA
- Asking visitors at some point to subscribe to their email list
- Promoting their brand as the agent with true, detailed local knowledge
Home Value Estimate Tool Attracts Attention
Here are just a few random suggestions. This first one is a no-brainer: A Real Estate Data API that provides home value estimates is a super-popular tool.
Just about every homeowner is going to be curious about the estimated value of their property. Use that Home Estimator Tool as an incentive to subscribe to your email newsletter. Or provide a form requesting a more formal CMA since after all, you clearly state these are only computer-generated estimates and not as in-depth as a market analysis compiled personally by an agent. Or, just keep reinforcing the thought in people’s minds that your local website is the place to go when they want an update on the value of their home.
The Home Estimate Tool is super-valuable for enticing people to enter that sales funnel for listings. Most will just be curious at first. That’s fine. Even if they just try out the tool, they have already placed themselves in the top part of the sales funnel. There might be others who are close to perhaps listing their home for sale. They will be in the middle. They will probably return more frequently as they monitor trends.
Then there will be others who are prime prospects to become listing clients. They are at the bottom of the funnel and ready to make a decision. Checking out your home estimator tool just might be the catalyst that gets them to pick up the phone and call you.
A real estate data API can also provide other enticing information. For example, trends in Home Sales. Are more homes selling now than before? Same with charts on the direction of Home Prices. Are they flat right now? Perhaps that is a good statistic to show potential home buyers.
A home value estimator tool should also show where a home is positioned in their marketplace. How does one property rank relevant to:
- Property size
- Age of the home
- Square footage
- Price per square foot
Again, information that many homeowners would like to know. So would home buyers that are checking out a particular property or neighborhood.
And speaking of neighborhoods, a true, in-depth Real Estate Data API should definitely provide more housing detail than just by zip code or city. To be truly effective, that Real Estate Data API should drill down to the neighborhood and subdivision levels. Use that granular detail to micro-target home owners by neighborhood or community. You bet they will be interested in detailed information about their specific area. They will also be curious as to how that information compares to surrounding neighborhoods. And so will buyers.
As the Realtor.com research shows, social media is an important facet for broker and agent marketing today. Some actively use it. Others just have an account but don’t use it. And just because it is free, as we said, don’t take it lightly.
Equip yourself with a variety of strategies to optimize social media to generate leads. One of those strategies would definitely be the hyper-local market information you can provide with your own Real Estate Data API.