Do the Social Networking Sites Make Sales?

[Island Realtor]

I've been behind the curve on the social networking thing and am looking into using a variety of sites like Digg, Facebook, etc. Do they actually help you make real sales or is it just a time consumer?

[rmasse10]

OK, here is the question of the century. I have read articles online that say "dont waste your time with social networks as no money is to be made from sales this way". Basically, this is false, and here is why. Social networks were designed for one thing, to be social and to network. Since real estate is a game of networking, this fits in perfectly. The use of social networks is not for you to place all your properties out there and say come and buy them...it is more so a place that you set up shop and say here I am and I do exist. I try to create contacts within the social network arena that when I have referals I can send them to my network of contacts and visa versa. The larger your network and the more trust you gain from those contacts you meet, the more business will come your way.

just my opinion but that is how I use it

Plus on another note, just yesterday, I had no idea who you were, now I know you exist...forums are a form of social networks as well!

[cgmckeever]

everything online has its offline compliment -- if this social network sites parallel your already offline presence - then they may make sense for you. If you aren't using them to 'service' your clients, and are using them solely because you think you have to - or to build SEO -- then more than likely they are going to backfire, and you are going to waste a lot of time.

[doogers]

Creating a profile on this social networking sites doesnt take that much time.

[cgmckeever]

creating a social networking site that you arent going to put any upkeep into - is the equivalent to leaving your business card on the table at starbucks whenever you go there. Very little time and/or effort involved, but capture rate is also minimized

[Orlando MLS]

I haven't heard of a single agent that has told me that their only source of business is social networking.

Does it work? Sure it does, but I suspect we're a few years away from it being the wonder network that it is being promoted as.

Consequently, it's a great way of staying in contact with your SOI.

[rmasse10]

Orlando, I agree, but now is the time to basically be building your castle cause when the battle begins, everyone is gonna need to be prepared and I would rather be in good position than not. Build now, reap later

[GetSmart]

social networking media is another form of media to use to target. all social network medias work different. for instance if you use something like squidoo, you get your articles out with hopes that a few people will link to your lens and their friends hopefully will see your information and pass it along that way.

or you can use another social media that is neglected by a lot of real estate professionals such a myspace. its the perfect media to generate business in a short time because you can target certain geographics down to the zipcode and demographics down to the age group you want to get in touch with.

the key with using social media is to visit often and make yourself the authority, so when people think real estate they think you. you have to get creative and not be boring.

[Saodavi]

We did some stuff on MySpace ... I can't say I was impressed with the quality of the users. Admittedly, I don't put as much effort into it as I could, but there comes a point where you just can't feasibly maintain and create yet another site/blog. MySpace, Facebook et. al. take up a lot of time for a questionable return.

My opinion is that it's better to spend time on your blog and your primary site and then try to direct traffic there.

[GetSmart]

you say that only because you don't understand the mystical powers that must be harnessed. how did you use myspace to market your services?