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OK....I Am Going To Say It: Just WHAT Is Facebook Really Used For???

By
Real Estate Agent with Douglas Elliman Real Estate 30HA0800896

Yes you read it right! I have no idea, so I am going to say it:

 Just WHAT is Facebook really used for???

What is facebook?

This morning I was watching Fox & Friends and one of the topics was the movie that is being made about the founder of Facebook. He is a 30-something Harvard Grad who, as a geeky, unpopular student, hacked into his fellow female classmate's computers and stole their photos to put on HIS website so all the guys could vote on who was the "Hottest Babe"!

So, this is the origin of the site that now has 4Mil members and continues to add to the 30 year old multi-billionare's (4-6Bil!)bank account!!! He has literally built a website that is used today for reasons that truly escape me. This is what I have heard you can use Facebook for:

  • Reaching out to old friends
  • Making new friends
  • Hooking-up
  • Keeping track of your kids
  • Keeping track of your spouse
  • Tracking down old school-mates
  • Flirting
  • ..and on and on.

NOW, I am all for thinking outside the box for new ideas to make money!....And more power to this guy who seems to have grown up a bit in order to give the proper attention to the social website that he started while still in college and congrats to him for being able to keep the money flowing in to his coffers.

Building a Big Business

However, I still wonder why Social Networking is suggested as a critical part of your business plans---this or any other social website (Activerain excluded!!!). IT IS A REAL STRETCH TO ME to see how this activity or activities can contribute to my bottom line!

I have a hard time keeping up with all the work involved in doing business in real estate today;  it is really time consuming to be here right now writing this, as a mater of fact! I am a member of Facebook and I had a former classmate from years ago, touch base with me and we began a conversation via email--his wife of many years got suspicious and got CRAZY by stalking me on the internet--writing me poison-pen emails and spreading rumors about me "taking" her husband away from her!!! Meanwhile, he had just reached out to find out what my sister and I had been up to for the past ____ years!!!

I have watched as a fellow broker sat in our office and showed me how he was "planting" for the season on his farm on some website---he was spending huge amounts of time doing this frivilous past-time and his business certainly did not profit from this activity!

So, PLEASE, PLEASE, PLEASE add to the list above so that I, and many others, can finally be convinced that Facebook, Twitter and dozens of other "social" websites really do work for DOING BUSINESS!!!

Hard Work Making Money

I would love to be able to finally and completely understand the nature of these other sites where you can get "hit-upon", "Hooked-up" with and in general, create a world of social activities that appear to me to be totally removed from DOING BUSINESS!!!

Comments(146)

Ken Tracy
Coldwell Banker Residential - Naperville, IL
Helping clients buy and sell since 2005

Hi Paula.  I am surprised how many people agreed w/ you on the comments...

Facebook is a great way to stay connected and communicate w/ others.  Very important things for any agent to do...

Other people let you into their lives w/ their posts on Facebook.  Comment on those posts.  Build relationships...

And your business will ultimately grow.

Thanks for writing,

Ken

May 08, 2010 02:35 AM
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Hi Ken: Thanks for the encouraging words---I was on FB this morning--entered some photos and made comments and immediately thought "did I say too much?" this is not a very comfortable feeling...I guess it's because I know, and they almost brag that Facebook has no regard for privacy. That concern and the fact that posting a blog is totally confusing to me---I can"t figure out where to do that...any more information would be helpful if yo ucare to share it...

May 08, 2010 03:15 AM
Craig Bassignani
ESonomaCounty.com - Santa Rosa, CA
Local Home Sales, MLS & Professional Web Marketing

Top Producers do not have time for social media as they are busy selling real estate. This sounds like 80% are spending a lot of time trying to do 20% of the deals. 80/20 or 20/80 rule?

May 08, 2010 03:27 AM
Anonymous
Sue Cook

I was on the fence about Facebook until I went to the "Marketing and Technology Real Estate Series Workshop" with Max Pigman.  It was sponsored by Realtor.com and it is worth your timel  He mentioned that the overwhelming reason for purchasing a home today is Internet related and social media is just one of those opportunities.  At the very least Real Estate agents should post a fan page for only real estate. The reasons that were popular sources ie mailers, signs, and even referrals are secondary now to the Internet.

 

May 08, 2010 09:15 AM
#133
John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

I read this post initially on May 6th and did not make a comment.

I have enjoyed Facebook and reconnecting and I am just starting to ask friends to reconnect in person. May 7th I had coffee with a former HS classmate who's family owns a business that produces cleaning supplies, Scotts Liquid Gold, she offered to give any of my buyers a closing gift as an introduction to their products, by the end of our 1/2 hour meeting she had referred me to another classmate on FB that is looking to help her daughter buy a new home.

I look forward to many more cups of coffee with my old/new Facebook friends. I think it is a very good, very different way to market and may work for some and not for others, find what works for you and stick with it.

May 08, 2010 10:28 AM
Anonymous
Andrew Mensch

I was on FB last night when an old HS friend came on complaining about her Realtor who had ALREADY sold her house... and sold her another house in the same town. She mentioned that she knew I was in real estate because of FB but did not realize that I could service her town. 

Gee... a topic for my next blog entry.

We've all had the experience where a friend lists a home or buys one in your area and then says "I didn't realize you were in real estatate!" Here's the opportunity for the soft sell. You can comment about the weather or the news but add a few about the open house that you're hosting this weekend... or just that you're tired from a day of running with clients.  Don't be a secret agent.

Embrace the technology. This is where our kids friends are hanging out, and as they become buyers this is where they'll come for some of their information.

DON'T fall into the trap of spending the day updating your blog, surfing on FB, twittering and commenting on other blogs only to shut down the computer at 5:00 and say "MAN DID I HAVE A BUSY DAY!" You still have to make the calls and hit the streets.

But in my opinion, ignoring FB will mean lost money. I left a few comments on another real estate forum and was contacted by a woman who said that she liked what I had to say and asked if I would take her out to see homes. I sold her a townhouse and she referred two friends.  Total sales: $930,000. You do the math.

 

 

May 08, 2010 10:55 AM
#135
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Andrew and all above: It is a time consuming activity so use it wisely---that's all I can say; it can be productive...and it may not be!...........Hummm---sounds remotely familiar to me; Oh yes! it is remarkably like real estate!!!  No wonder so many RE agents/brokers are on FB and others like it! It is familiar and it is just as predictable in it's productivity!

May 09, 2010 04:15 AM
Anonymous
JJ

Eternal perpetual high school.*  Thanks Facebook!

 

*imho

May 10, 2010 06:30 AM
#137
Joy Caldwell
Coventry Glen Realty - College Station, TX

Ditto Paula, I feel the same. The folks actually making business on Facebook are the young Realtors that grew up totally on the computer. I am of the old school you need face to face interaction. Its great for hooking back up with old school chums but I don't make money off of it.

May 13, 2010 05:15 AM
Ed Cordle
Genesis Real Estate - Barboursville, WV

Personally, I've closed three deals in the last 6 weeks that generated from facebook leads.  I simply post any new listings when I get them, promote an open house, or just ask if anyone knows somebody looking to buy or sell.  I'll also post more personal things like my daughters little league team won today, etc.  By sharing some of your life online and adding in some business posts it keeps it fresh in peoples minds.  If one of my facebook friends hears someone at work talking about looking for a new house, my name pops in their head because they see my posts, it's almost a subtle, repetitive, marketing program.  Granted, only your "friends" see your posts, but for me it's almost like having 300+ passive reps sending me leads. Plus, the best part, it's FREE!

May 15, 2010 03:50 PM
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

JJ: Boy did you hit it on the head! I have felt that way so may times that it has kept me from freely using the site! Thanks for your observation!

Joy:I have never heard from a single person on FB with a remote chance of buying a house here in the Hamptons! It is strictly for keeping in touch---and if you get friends to buy houses more power to you....Nothing wrong with "friends" but I must say I have never sold a friend a house---I listed a friends house once at her insistence and she sold the house on her own to a buyer who I brought to her....not very nice but the old idea about doing busness with friends, lending money to friends, etc....applys here! Thanks Joy, for commenting.

Ed: I do believe that you need to be in a huge pool of potential home sellers/buyers in order for FB to pay off like that---I didn't look to see where you are located but I would bet that you are in or very near a large metropolitan area, no? Thanks for sharing your good news!

May 16, 2010 12:43 AM
Ed Cordle
Genesis Real Estate - Barboursville, WV

Paula,  I'm actually in a rather small market in Huntington WV.  I can't always generate that many leads from FB, just a good run lately.  I try not to bombard people w/ business related posts, but I usually post about once a day and about every third day it's something real estate related.   What I found interesting is that not one of the 3 clients that I closed on in the last 6 weeks was actually a "friend" on FB, but they all came from referrals via "friends" on FB. 

May 17, 2010 03:35 PM
Matthew Bartlett
Corcoran Global Living - Hill Top Team DRE Lic. #01353034 - Glendora, CA

Funny post Paula! I use Facebook as another way to communicate with more prospective clients. You can do this in a one on one situation through direct messages, through a fan page, through the advertisement of seminars or functions that you're offering, or through group set-ups. Another great idea is to use this network to post video that promote you and your business or you may post useful information that your network will find interesting and important with regards to the Real Estate industry.

I do not use the network to waste time on all of the extra applications like creating a farm, the sopranos and the many other useless, time and money wasting games. Your best use of the network is to incorporate it into your already daily prospecting agenda. Simply use it as another tool, like door knocking, cold calling, calling FSBO's, etc. to meet new people and open doors for future business clients.

Best wishes,

Matt

May 18, 2010 12:54 PM
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Matt: Thanks for dropping by and commenting--useful information too, I might add. I guess i am so spoiled by AR that I have never found out how to post anything to FB....is that down on the wall, in commenting or where? I am really confused by the way it is set up and seems too time consumining to me to figure it all out!

May 19, 2010 01:25 AM
Jason M. Keith
Caliber Home Loans - Parker, CO
Equal Housing Lender

I read a re-blog of this and had to come to the orignal source.  Well said, I've asked myself this question many times while learning how to handle this social media networking.

Dec 14, 2010 04:34 AM
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Jason: Thanks for coming here to touch base--did you just read a re-blog of this??. I wrote this post a long time ago now--May as a matter of fact! I hear there is a lot of chatter going on right now about FB and other websites, so this post may be more timely now!

Dec 14, 2010 06:19 AM
Tni LeBlanc, Realtor®, J.D.
Mint Properties, Lic. #01871795 - Santa Maria, CA
Tenacious Tni (805) 878-9879

Paula -

You have completely overlooked the "keep busy" factor that facebook contributes heavily to.  Shame on you!  Now, I know you're thinking -- keep busy doing what?  Well that my dear is why they have privacy controls on facebook now.  It's none of your business! 

Sincerely,

Your Active Rain Friend,

Tni

Jan 15, 2011 07:37 PM
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Tni: What the heck is the "keep busy" factor on FB??? I have a "keep busy" factor--my business--my life!!.....you need to read my post: "THE MORE PRODUCTIVE I AM, THE MORE PRODUCTIVE I AM!!!"

In that post I talk about the fact that the busier I am, the more business I do---this business, by the way, has NOTHING to do with FB....if you think it is none of my business, then it REALLY escapes me, this slobbering love affair with Facebook...Thanks for going back to an old post and commenting, by the way!

Jan 16, 2011 04:06 AM
Tni LeBlanc, Realtor®, J.D.
Mint Properties, Lic. #01871795 - Santa Maria, CA
Tenacious Tni (805) 878-9879

Yes, I really enjoy your google and facebook posts - I went back and read almost all of them. 

There is a lot of facebook love going on and I don't get it either.  I've got pages and I'm friended up to the hilt to the point that I could never write anything fun on it anyway.  I also did facebook ads for awhile and the click thrus were all about zero seconds so no I don't get it either.

People who champion it really can't seem to explain it.  Zillow has tons of traffic too - but it's not the right kind of traffic to generate leads in my market.  I do think I have succeeded in annoying everyone on facebook into knowing that I do real estate - but hell half the people on it are Realtors anyway.

Jan 29, 2011 05:41 PM
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Tni: You have confirmed what I have always thought! FB is filled with other RE agents who are in cognito! They don't want others to think they are out there just like all of us: trying to get the phone to ring!!! Ha ha!! :)

Jan 29, 2011 10:53 PM