Facebook Ads: Friend or Foe?

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Education & Training with Trulia

Facebook Ads:  Friend or Foe?Facebook Button

Ever since Craigslist tightened their reigns, it made it close to impossible for us to generate a steady stream of leads from the infamous classifieds website, we’ve had to start thinking outside the box for new and innovative ways to get in front of consumers.  I’ve heard mixed reviews on using Facebook ads to generate buyer and seller leads, so I figured I would go straight to the best source I know to determine if Facebook Ads are friend or foe.

 

I recently hosted a Power Hour Webinar with Bob Stewart (who we all know and love), and we jumped into the awesome world of Facebook Advertising to target buyers and sellers, and it turns out Facebook isn’t just for photos of food, pets, and personality quizzes.  Who knew??

 Target & Bullseye

I was amazed at how specific you can get when creating Facebook ads.  When you think about it, there are roughly 180 million people on Facebook, so how on Earth do you drill-down and target a specific niche or demographic?  Well it seems Facebook has thought of everything.  When creating your ad on Facebook, you can select specific criteria to shrink your audience, and target a certain type of consumer; you can start with a city/town name or zip code, and then from there, the options abound!

 

You want to target first time homebuyers? 

Well, you can target renters in a specific area, and since married couples are the lion’s share of first time homebuyers at 56% (NAR, 2013), you could select married as the relationship status.

Maybe you want to target Baby Boomers who may be downsizing?

Pick your area, then select either an age range or you can select Baby Boomers as the generation.  Then you can get even more specific by choosing only homeowners, and single family as the home type.

Perhaps you have a listing near a desirable workplace, such as Microsoft. 

Simply select the area, and then you can choose the employer, so your audience will be made up of Microsoft employees, so you can market your listing to the most relevant and desirable crowd.

High-priced listing?

You can narrow down your audience by their income or net worth, so you can help weed out those “looky-loos” who might just be ogling your $8.5 million listing.

 

Bob shared some other great examples of ads that can target specific buyers and sellers, and also broke down the core components of a successful ad in this Power Hour Webinar – He really knowHappy Piggy Banks his stuff!

 

With Facebook advertising, there are so many possibilities and options for reaching a targeted audience, and the price is incredibly reasonable too – You could run your ad for a week for as little as $5 per day.  Bottom line, I’m voting friend, because in my opinion, being able to target niches in your social sphere and get in front of relevant and specific audiences is darn near priceless.

 

What’s your vote?  Friend or Foe?

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Comments (42)

Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

I've found that managed ads on Facebook are very effective. I'm working now to manage myself. 

Jul 12, 2014 08:27 AM
Deb Harshman
Long and Foster - Christie's International Real Estate & Owner of Staged Home Decor - Potomac, MD
REALTOR & ASPMaster Stager, The Selling Advantage

Everyone of the comments is an echo in my head. Oh I have to have assistant too! Great blog post.

Jul 12, 2014 08:57 AM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

I have been meaning to get started with this type of campaign.  THanks for the encouragement.

Jul 12, 2014 10:12 AM
Robin Miller
Mexican Beach Bum, Broker-Rocky Point MEXICO - Lukeville, AZ
Enjoy life and rental income at the beach

I did it soon after I heard Bob's webinar where a part of social media marketing are the Facebook ads. I did the $5 a day budget, I spent $10. I didn't get a lead, but I did have fun narrowing the down the demographic,  by more affluent area (I'm a vacation home agent) then by mobile phone user, then by age of 45+, then by business person, i liked the process, i will do it again soon and spend more and see what happens, regardless, I will enjoy the process again.

 

Jul 12, 2014 02:34 PM
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

Interesting post, yet, how much is the average ROI using FB to generate leads?  $5  a day seems reasonable enough yet nobody wants to indicate their total cost to market a single property on FB until the property is sold or a listing is generated.

Jul 12, 2014 06:24 PM
Chrissie Voyles
Boise, ID

Thanks for sharing this Jenn!  It was a very informative first step in figuring out the ins and outs of Facebook Advertising!

 

Jul 13, 2014 12:40 AM
Ron Aguilar
Continental Mortgage - Saint George, UT
Mortgage & Real Estate Advisor since 1995

I really enjoy the peeps that say, "I will look at FB ads when I find the time." But, I hate oversaturation and FB ads will get that way in the future, guaranteed. Always be looking for the next big thing...

Jul 13, 2014 01:50 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

This is interesting - I may look into it some day when I can force myself to go to Facebook. I really don't enjoy that place. 

Jul 13, 2014 04:44 AM
Diana White-Pettis
Bennett Realty Solutions - Upper Marlboro, MD
GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale

This is a very interesting post.  I have not tried using FB ads yet to generate business, but I have colleagues that are having great success.  Thanks for sharing!

Jul 13, 2014 09:12 AM
Kristin Hamilton CA Realtor
Sun Lakes Realty - Banning, CA
(909) 557-6966- Specialize 55+ Communties Banning

Great post and I did not realize how specific you can be when setting up your searches. Thanks for the information.

Jul 13, 2014 09:25 AM
Cat Zwicker, CRS
Desert Sky Real Estate, LLC - Redmond, OR
Down to Earth Service; Out of this World Results!

Interesting, I had no idea how much you could dial down/target your advertising.  I may have to look at this more closely in the future. Good information! 

 

Jul 13, 2014 03:32 PM
Deborah Newell
Berkshire Hathaway HomeServices Towne Realty - Virginia Beach, VA

Facebook ads do work! I've gotten lots of leads from it and several turned into clients!

Jul 13, 2014 11:42 PM
Deleted Account
Fort Myers, FL

I've been thinking about using Facebook ads for a while no, but was reluctant, as I was not sure if they would work or not.  After hearing from a few people that they work and then checking in to them, I plan to start using then very soon, as you can target certain people.  I think they are definitely a friend!

Jul 14, 2014 06:28 AM
Travis "the SOLD man" Parker; Broker/Owner
Travis Realty - Enterprise, AL
email: Travis@theSOLDman.me / cell: 334-494-7846

I caught part of his webinar and parts of others, so will be giving this a shot!

Jul 15, 2014 07:44 AM
Mike Schurter
Royal LePage Performance Realty - Ottawa, ON
Michael Schurter

I have been having a fair bit of success using facebook to find leads but for me it tends to be more about what you do with those leads after they click onto your advertisements.

Over the past 30 days I have spent $302.00 on facebook advertising and have generated 294 clicks to my website. From my website (a CMA drop page) I have generated about 68 valid leads, 55 of them were actionable and 28 included full contact information. 7 of those leads I have referred off to another agent that works in the neighbouring province, but all in all, I have a physical mailing list of 48 people looking to sell their homes in the next 3-12 months. (The program that I use is Listings to Leads for my drop page)


From here the process will require some follow-up. These sellers will be added to my seller's monthly mailing list and will get a copy of the seller's booklet I produce. But for about 7$ a lead (not counting partial leads and the ones I referred off) I have a supply of leads that will help me through the fall/winter.

If anyone knows of a better drop page system please let me know. I like Listings to Leads but their page's conversion rates leave something to be desired.

 

Jul 17, 2014 08:04 AM
Foster Smith Summerville
Carolina One Real Estate - Summerville, SC
Summerville & Charleston Homes for Sale SC Realtor

Haven't tried it yet. Summer is such a busy time that its hard to get to prospecting, however, it's always important to get a jump start on this kind of thing.

Jul 17, 2014 10:48 AM
Ann Nguyen
eXp Realty of California, Inc. - Truckee, CA
Lake Tahoe Truckee Homes For Sale

I just started on one of my high end listing today. I hope to have some statistics to share with you all in 30 days.

Aug 05, 2014 10:00 AM
Jenn Tervo
Trulia - Bellevue, WA

Ann, that's great!  I can't wait to hear your results!

Aug 06, 2014 04:05 AM
Mary Stewart
Keller Williams Atlantic Partners/Southside - Jacksonville, FL

I vote friend!  I know of agents tht are spending a lot on ads but are receiving good targeted leads.

Aug 06, 2014 12:44 PM
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Great information about using FB ads to target audiences. Millions of baby boomers have homes with equity and will be considering a move to a new home that meets their changing needs. This segment should be part of almost every agent's marketing strategy.

 

Sep 09, 2017 04:37 AM

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