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The Great Debate - Is Social Media a Waste of Time?... My Answer "Yes...It's a BIG Waste of Time"

By
Real Estate Agent with PREA Signature Realty - www.preasignaturerealty.com

PREA Signature Realty - Social MediaRecently, I received a telephone call that led to a lengthy discussion about real estate and the use of technology to market and sell homes.  The caller had read my ActiveRain blog entitled "The Lafayette Report" and had a pretty good grasp of my passionate views on the use of technology to market and sell real estate.  In fact, if you aren't committed to the idea that blogging is good for business, the fact that he read my blog and called me is really what it is all about - that is, it is all about new introductions, great conversations, and developing new business.

After a few minutes, the conversation turned to social media.  He cited a few statistics about the inordinate time spent on social media and the lack of tangible, readily trackable results.  After he provided me with some comments from marketing experts and other real estate professionals, he asked me about the "Great Debate" that was raging among real estate professionals. 

PREA Signature Realty - Social Media

Now, I was perplexed.  I stammered "the Great... What?"  "Well, you know the debate as to whether or not social media is  a waste of time", he replied.  Now, I understood the question, but I really couldn't believe it.  I thought there were a few simple truths out there - the sun rises in the East and sets in the West, the Earth is round, and blogging and social media work.  Admittedly, I have generally surrounded myself with other real estate professionals who have embraced the use of technology.  So, I started thinking "Had I really surrounded myself with social media evangelists and insulated myself from some allegedly mainstream view that social media is a waste of time?"  Well, perhaps I am guilty as charged.

So after discussing statistics, anecdotal evidence, and the comments of marketing pundits, he asked:  "For new real estate agents, is social media the wave of the future or a huge waste of time?"  Now, after my passionate (actually gushing) defense of technology, my answer caught the caller by surprise.  You see my answer was "Yes, for most new real estate agents, social media is a big waste of time."  He stammered "... but I thought you used technology and provided training to real estate agents on things like LinkedIn."  I again replied affirmatively and my answer didn't waver after the second and third questions. 

 

PREA Signature Realty - Social MediaNow, those who know me know that I have always been intrigued by the legendary commentator Paul Harvey's signature line "Now, the rest of the story..."  In my opinion, there is a simple truth.  For some agents, social media is a waste of time.  Here is why:

  • Lack of Commitment - Social media requires a regular commitment of time and effort.  You can't simply do it once every 4 weeks and expect it to achieve results.
  • Lack of a Plan - Social media requires a plan.  You can't simply do it for the sake of doing it.  Before you start blogging or using social networks, you need to assess your skills and strengths, identify your target audience, and develop a clear and consistent message.
  • Lack of Participation - Social media is no different than real life networking.  For example, you can place an advertisement in the local chamber of commerce journal.  You may generate some business.  However, when you actively participate in the committees and activities of the local chamber, your networking efforts will likely have a greater return.  Social networking is no different.  If you simply post a profile, it may generate some leads.  However, social media has the greatest impact when you actively participate in the community.

So, my answer may have been misleading.  I like a good debate and a healthy conversation.  So, here is the rest of the story:

  • Social media works - but only works if you understand its nature and purpose.  It isn't an advertising tool.  It is an introduction tool.
  • Social media isn't passive like a print advertisement.  It is based on participation and interaction. 
  • Social media requires a regular commitment of time and effort.  You simply can't pop in and pop out of social media and think it will work.

As a result, for many real estate agents, social media simply won't work.  It isn't a magic elixir.  It isn't a silver bullet.  More importantly, it simply as a rule doesn't generate immediate results.  Many of the real estate professionals who try social networking sites will conclude that social media isn't a useful tool to market and sell homes.  For these professionals and  others who attack social networking such as Facebook, LinkedIn, and Twitter as the latest and greatest darlings of the media, I agree.  It doesn't work... unless and until you make a commitment, participate in the community, share your expertise, provide assistance to those in need, and have committed a sufficient amount and time and effort to participating in the social networking sites.  

Interested in attending our next real estate technology seminar to learn how to market and sell real estate using technology, the interent, and social media?  Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com.  For technology tips and tools, visit the Tech Toolbox at www.PREASignatureRealty.com.

 

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PREA SIGNATURE REALTY

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PREA Signature Realty is a full service brokerage located at 1709 Park Avenue in the Lafayette Square neighborhood of the City of St. Louis.  PREA Signature proudly serves the following city neighborhoods:  Lafayette Square, Soulard, Benton Park, Benton Park West, Downtown Loft District, Forest Park Southwest, Central West End, Tower Grove East, Tower Grove South, Compton Heights, Shaw, The Hill, Dogtown, Carondelet, Holly Hills, St. Louis Hills, Dutchtown, and the Other Historic Neighborhoods of the City of Saint Louis, Missouri. 

The opinions expressed herein represent the opinions of the author only and do not reflect the opinions of PREA Signature Realty.  All photos and written content were produced by PREA Signature Realty.  All Rights Reserved - PREA Signature Realty (2009).  This content may not be reproduced or reprinted, except for Active Rain re-blogging, without express written permission of PREA Signature Realty.

For more information, visit our website at www.PREASignatureRealty.com or contact Ryan Shaughnessy at 314-971-4381 or send an email to Ryan@PREASignatureRealty.com

Comments (203)

Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Gail - Low or no cost... passive.... It definitely is more effective than cold calling.  A little investment in time pays huge dividends.

Jun 25, 2009 12:21 PM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Dan - It is definitely something that you can start today and expect results tomorrow.  It takes several months to see any real results.  Over the past 18 months, I have responsible for training our agents on tech.  The overwhelming sentiment is - (1)  I don't have time.  (2)  I am not tech savvy enough to do it.  (3) I don't see the results.  It is work - but for some like me I really enjoy it and it comes easy over time.  If I quit at week 1 or even week 12, I wouldn't have received much payoff.  However, I get good leads daily so I stay focused and try to regularly participate in the networks.

Jun 25, 2009 12:26 PM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Dan - It is definitely something that you can start today and expect results tomorrow.  It takes several months to see any real results.  Over the past 18 months, I have responsible for training our agents on tech.  The overwhelming sentiment is - (1)  I don't have time.  (2)  I am not tech savvy enough to do it.  (3) I don't see the results.  It is work - but for some like me I really enjoy it and it comes easy over time.  If I quit at week 1 or even week 12, I wouldn't have received much payoff.  However, I get good leads daily so I stay focused and try to regularly participate in the networks.

Jun 25, 2009 12:26 PM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Lyn - Let me know what the next silver bullet, magic elixir, etc. is.  I really would love to find something where I don't have to work to generate new business opportunities.

Jun 25, 2009 12:28 PM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Mike - Good choice of works - social media works if you work it - the key word being "work".

Jun 25, 2009 12:31 PM
Ann Hayden 636-399-7544
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Des Peres, MO
SelectAnn.com

Ryan,

I was actually down your way yesterday, showing houses close to Tower Grove Park.  Do you have any listings in that area?

Coffee sounds great.  I will call.

Ann

Jun 25, 2009 03:25 PM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Ann - I  had a great listing on Hartford.  It needed some repairs - but it had a good floorplan and lots of original woodwork, stained glass, etc.  However, it sold pretty quickly.  Our current residential listings are primarily in Lafayette Square with a few listings in South County.  I look forward to talking to you.

Jun 25, 2009 03:33 PM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Ann - I  had a great listing on Hartford.  It needed some repairs - but it had a good floorplan and lots of original woodwork, stained glass, etc.  However, it sold pretty quickly.  Our current residential listings are primarily in Lafayette Square with a few listings in South County.  I look forward to talking to you.

Jun 25, 2009 03:33 PM
Linda Landry
HomeSmart Realty - Tucson, AZ

Apparentlly 190 or so people who responded thus far think social networking is important enough to spend their time talking about it!

Jun 25, 2009 04:07 PM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Linda - Yes.  It would seem that the members of Activerain are proponents of social media.  I really wouldn't have expected a much different result.  It is kind of like preaching to the choir.

Jun 25, 2009 04:17 PM
Stuart Dobson
eLoanRates.org - Thornton, CO

Like most other 'technologies' only a small group of users actually receive full benefit from the resource.

Jun 26, 2009 03:59 AM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Stuart - I agree - It isn't that you use it... It is that you use it effectively.

Jun 26, 2009 05:07 AM
Tatyana Sturm
Exit Realty DTC - Aurora, CO
Denver Realtor, GRI, Denver/ Aurora CO Relocation

The biggest thing for me is to stay on schedule Monday I blog, Tuesday I update my short sales on website blog, Wednesday and so on and so on.

Jun 29, 2009 04:12 AM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Tatyana - Sounds like a good, structured plan.  I have a similar blogging and social networking schedule.

Jun 29, 2009 04:30 AM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Tatyana - Sounds like a good, structured plan.  I have a similar blogging and social networking schedule.

Jun 29, 2009 04:30 AM
Mark Velasco
West Shores Realty - Whittier, CA
Top Producing Broker Associate

Great points Ryan. Most agents are on the sites, however, they are not Active on the sites. They are a mere number. The more participation, the more people will take notice of you and your efforts.

Jul 07, 2009 06:55 PM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Mark - Thanks for reading and commenting.  Passive approaches have some minimal value.  However, the key is active participation.

Jul 07, 2009 07:09 PM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Mark - Thanks for reading and commenting.  Passive approaches have some minimal value.  However, the key is active participation.

Jul 07, 2009 07:10 PM
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Mark - Thanks for reading and commenting.  Passive approaches have some minimal value.  However, the key is active participation.

Jul 07, 2009 07:10 PM
DeAnna Troupe
Learn Small Business - Stone Mountain, GA

Bravo! Excellent post! I couldn't have said it better myself! Thanks so much for posting this!

Nov 05, 2009 09:07 AM