Real Trends 

Social networking is becoming a hip, new way to network with consumers and professionals. It may take time, but its low (or no) cost publicity for you and your brokerage. But, with so many options out there, which one is worth your time?

REAL Trends spoke with three real estate professionals about what they use and what they receive as a return on investment.

Scott Daniels, Broker
Florida List 4 Less Realty Inc.
Cooper City, Fla.

REAL Trends: What type of social networking do you do?

Daniels: I use everything from Active Rain to my own blog and Twitter. I have a blog on Point2Homes as well. I take advantage of the whole system. Each offers different networking opportunities. For example, Twitter is a good place to reach consumers.

Trulia and Active Rain drive people to my Web site. I use Facebook as a social network. The world is friendlier on the Internet than they are in person. I encourage my 72 sales associates to blog; however most don't take advantage of it. They rely on me to be their lead pipeline.

REAL Trends: Which is the most effective?

Daniels: Active Rain gets me leads—mostly referrals from other sales associates and brokers. They read my articles and like what I say. I do a lot of short sales and foreclosures and know that business very well, so real estate professionals are always asking me questions. I use Active Rain solely for business marketing—it's a business network.

REAL Trends: What type of response do you get from your blog and social networking?

Daniels: I get at least 15 to 20 leads generated a month, not all close. But, it's a pipeline. I use it as a recruiting tool as well. I invest my time. Every day, I spend about 1 to 2 hours writing and updating. This year alone I was able to gain nine sales through networking alone.

Kristal Kraft, Broker Associate
The Berkshire Group Realtors
Denver, Colo.

REAL Trends: What type of social networking do you do?

Kraft: I'm active with a variety of social networking groups—Active Rain and Twitter. I maintain a business blog at http://www.kristalsellsdenver.com/denverdwellings/ and post on PropertyTube.org, Flickr, Bigger Pockets (an investor blog) and Seth Godin's blog.

REAL Trends: Which is the most effective?

Kraft: That depends on what I am trying to achieve. Active Rain blogs and comments tend to be fun and very responsive, Twitter(@KrisTalk) is spontaneous and fun—it's the cocktailparty of social networking. My Denver Dwellings blog is my creative outlet for my photos and to show off my town. My business comes from my blog. Flickr is a wonderful and inspiring networking place for photographers.

REAL Trends: What type of response do you get from your blog and social networking?

Kraft: My business blog brings in consumers, oddly enough they don't leave comments—they call me. When they call, they say they read something I wrote and appreciated it. Blogging has set me up to reach people who may otherwise not find me.

Return on Investment for social networking is really hard to measure. The cost for me to maintain several blogs is minimal, it's the time that's hard to find. It's important to set goals and limitations on your time so you don't spend too much chasing after a "maybe" or Active Rain points!

Thanks to social media I have a network of influence that extends the world. Social media is important but at some point it's necessary to leave the computer behind and meet the consumer face to face. So far I haven't sold (nor do I ever intend to) sell homes without meeting the consumer. Social media should be just one aspect of the marketing mix.

Lenn Harley, Broker
Homefinders.com
Maryland and Virginia

REAL Trends: What type of social networking do you do?

Harley: I only use Active Rain. I write two types of blogs—one has opinion pieces and the other is on the agent-to-agent network. I also post about local real estate and I generate a lot of business from my local posts and my Web sites. Active Rain provides a local feed to my site.

REAL Trends: Which is the most effective?

Harley: I generate a lot of business from my local posts and from my Web site. The blogs feed my Web site.

REAL Trends: What type of response do you get from your blog and social networking?

Harley: I get comments from other agents, rarely from consumers. They either go on my Web site or call me directly. Occasionally, I'll get consumer comments. It's hard to tell how much business I gain directly but I do know that it leads people to my Web site. It's a synergy. Each marketing plan fits into the next and the social networking is the juice that keeps everything moving along.

I'm a buyers' agent, so I give referrals, I have a network of agents and brokers, mostly brokers. I generate the business and I refer buyer clients to the agents (about 15 of them) and brokers in my network and they do the actual selling. I do keep and work directly with a few buyers who are looking in my neighborhood.

But, social networking is not just about the business gained. It's the interaction with agents, brokers, lenders with major companies, mortgage brokers, title company owners, home inspectors—you name it. The insight we get into the practices of these services is invaluable.