The Role of Social Media in Real Estate Marketing
Zander, Selina (2021)
2021
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2021111520282
https://urn.fi/URN:NBN:fi:amk-2021111520282
Tiivistelmä
With the rise of social media, a new form of marketing has developed in recent years. Social media is becoming increasingly attractive for companies from various industries including the real estate one. Marketing real estate today requires marketing strategies that adapt to modern times and customer interests. Presenting properties only on traditional real estate portals may no longer be sufficient to meet all customer demands, which led the author to consider what role social media plays in today’s real estate marketing.
This research-based bachelor’s thesis aimed to study what the role of social media in European B2C real estate marketing is. The goal was to provide more insight and a deeper understanding of the effectiveness of social media in real estate marketing. To determine this as precisely as possible, two perspectives were used for the research, the one of realtors and the one of European B2C real estate clients or individuals who are interested in real estate.
The theoretical framework dived into the topic of social media, real estate and real estate marketing and created an understanding of how these three terms are combined and connected to each other. It discussed how the individual terms are defined and what other elements belong to each of the terms.
The empirical part consisted of qualitative and quantitative research and was divided into two phases. In the first phase, interviews were conducted with three different interviewees who are working in real estate. Phase 2 included a quantitative survey that collected a total of 146 valid answers from European B2C real estate clients and individuals who are generally interested in real estate.
The key finding indicated that social media does play an important role in today’s real estate marketing. The main organizational advantages of using social media in real estate marketing were identified as the building and strengthening of the relationship between potential and existing customers and the real estate companies, the high amount of people that can be reached and the opportunity of having a free and effective marketing tool available. Most effective social media channels were analysed as Facebook and Instagram. Findings also showed that the content of the property posts on social media generally differ by country and the type of property, but posts including videos and pictures were in general identified as being most efficient. Moreover, the author found out that real estate social media posts do have an impact, but it is more related to inspiration than to actual decision making.
The further recommendation for real estate companies and their marketing is to, if not already happened, start implementing social media marketing into their marketing strategies. Customers need to be identified and a plan needs to be established. Moreover, companies should consider the use of videos and storytelling when marketing their real estate.
This research-based bachelor’s thesis aimed to study what the role of social media in European B2C real estate marketing is. The goal was to provide more insight and a deeper understanding of the effectiveness of social media in real estate marketing. To determine this as precisely as possible, two perspectives were used for the research, the one of realtors and the one of European B2C real estate clients or individuals who are interested in real estate.
The theoretical framework dived into the topic of social media, real estate and real estate marketing and created an understanding of how these three terms are combined and connected to each other. It discussed how the individual terms are defined and what other elements belong to each of the terms.
The empirical part consisted of qualitative and quantitative research and was divided into two phases. In the first phase, interviews were conducted with three different interviewees who are working in real estate. Phase 2 included a quantitative survey that collected a total of 146 valid answers from European B2C real estate clients and individuals who are generally interested in real estate.
The key finding indicated that social media does play an important role in today’s real estate marketing. The main organizational advantages of using social media in real estate marketing were identified as the building and strengthening of the relationship between potential and existing customers and the real estate companies, the high amount of people that can be reached and the opportunity of having a free and effective marketing tool available. Most effective social media channels were analysed as Facebook and Instagram. Findings also showed that the content of the property posts on social media generally differ by country and the type of property, but posts including videos and pictures were in general identified as being most efficient. Moreover, the author found out that real estate social media posts do have an impact, but it is more related to inspiration than to actual decision making.
The further recommendation for real estate companies and their marketing is to, if not already happened, start implementing social media marketing into their marketing strategies. Customers need to be identified and a plan needs to be established. Moreover, companies should consider the use of videos and storytelling when marketing their real estate.