Zillow & Social Media
This past week, Zillow has expanded their business by transforming their “Zestimate”, originally just a numerical estimate, into a live offer in twenty markets around the country. Though we at Listing3D just released a blog post about Zillow last week We Need to Talk About Zillow…, this is a major update that real estate professionals should absolutely be aware of. Later on, we’ll provide some social media advice to help your business stay competitive against the rise of the Zillow.
The Zillpocalypse Continues
Zillow’s goal has always been to simplify and streamline the real estate industry. While this in it of itself is not necessarily a bad thing, the means of achieving this goal is by becoming an entirely holistic program, eliminating the need for all other real estate professionals. Just within the past week, Zillow has taken major steps towards turning their once-lofty goal into reality.
Covered in last week’s Listing3D article, Zillow recently acquired ShowingTime, the premier booking software used by real estate professionals across North America. Zillow has decided to keep the program open to the public, a decision that caused experts to raise their eyebrows.
It’s believed that Zillow chose to allow professionals to use ShowingTime so they could continue acquiring valuable industry data. Many real estate agents are cautioning their colleagues on giving too much to ShowingTime, because all data is subsequently shared with the competition, Zillow.
On February 25, 2021, Zillow announced a major change regarding their “Zestimate” feature. Created in 2006, the “Zestimate” was a price estimate produced by Zillow. The company used public data, as well as expert advice, to create its “Zestimate” algorithm. Though there have been controversial cases where homeowners claimed the “Zestimate” was inaccurately low, it usually does a fairly good job at estimating the cost of properties.
Now, Zillow’s “Zestimate” is no longer just a number that agents or owners can use as a reference. The “Zestimate” is now competing with real estate professionals for listings. In twenty U.S. markets, the “Zestimate” is now a real offer. If sellers are content with the price Zillow provides, they could choose to sell their homes in just one click. Zillow will go on to sell these homes themselves, utilizing their own agents and employees.
This is a major change that is bound to cause profound shifts in the real estate industry. Zillow is trying to eliminate the need for real estate professionals outside of their company network.
They have presented a new service that allows sellers to easily and efficiently sell their homes. To compete with this, all agents should create and nurture referral networks, advertise their services, and sell listings quickly. Luckily, there is one tool that is free and allows professionals to do all of those things: social media.
How to utilize social media to compete with Zillow?
There’s a reason why customers rely on real estate professionals. Homeowners choose agents to help them sell their houses because of the reliable service, well-connected to the local market, and will fight for the best possible price.
Zillow cannot provide personalized, unique services for each of their clients, but you can. If you are a real estate professional yourself, remind your clients of this through your social media platforms.
Social media is a great tool for businesses because it is free and efficient. You can collect members of your network all in one place and share interesting, informative content with them. Marketing and advertising on social media can be incredibly effective when done properly. Keep reading to learn how to create useful content for your audience while competing with big businesses.
1. Establish Your Personal Brand
Your brand is your unique business identity that differentiates you from other professionals. One of the essential steps in establishing a brand identity is to understand your client. Who is part of your target demographic? What type of clients do you attract? Which services are most appealing to that audience?
By understanding your clientele, you can create content that will be useful and informative specifically for them. Additionally, when establishing a brand on social media, you want to be very sure of who you are as well. Why are you passionate about your profession? Make sure to incorporate your own story into your social media identity and content.
2. Find What’s Effective
Browse through your Facebook, Instagram, and other social media platforms and see which content of yours was successful. Do your clients love when you share unique listings from the local market? Are deals and promotions especially popular? Do your testimonials get widely shared? By looking at your analytics, you can determine what content resonates with your audience and should be incorporated into your future social media content plans.
3. Plan Thoroughly
Especially when creating substantial content, like a webinar, podcast, or blogpost, you have to plan in advance to ensure these projects are done on time. Your audience will be able to tell if you have not dedicated enough effort to your social media content. Remember, you want to share useful information with your followers.
Plan out each month for each platform and decide when and what you’ll post. This will not only ensure that you are providing an appropriate amount of content to your audience but will also help you plan when you’ll actually be making the content.
4. Schedule Yourself
Give yourself around 15 minutes a day to check your social media accounts and interact with your followers. Because of how the algorithms work on these various platforms, accounts that are more active are more likely to be shared on followers’ feeds. Thus, you should try to like and comment on a few relevant posts a day.
This can be extremely helpful when building relationships with former clients and fellow business owners. Remember, comments are most effective when they are detailed and specific, so avoid leaving one-word comments. With your platforms planned out on a monthly basis, you can see what content is scheduled to be posted and schedule those projects into your day-to-day work.
5. Think Ahead
Social media is most effective when used frequently. Plan your future content far in advance and stick to the schedules you create. Additionally, continue monitoring your analytics to see what content is resonating with your audience. Make sure to tailor your future projects according to these results.
Remember, you’re not creating content for yourself. You’re creating content for your audience. If there is a type of post they’re not connecting with, avoid using it again. Explore what other professionals are using as well, to keep your social media content varied and up to date.
Digital media was utilized by Zillow more than a decade ago to revolutionize the real estate industry. By creating content online that was easy to navigate and share, Zillow has grown into one of the most powerful real estate companies in the world.
Digital real estate is the future, a trend further progressed by the COVID-19 pandemic and subsequent global economic crisis. Every agent must have social media in their toolbox, not only to gain referrals, but to advertise properties. By using the tools that gave rise to Zillow, professionals can combat the rise of the Zillpocalypse.
Overwhelmed by digital marketing and looking for some help? Listing3D has got you covered. With our exclusive marketing packages, we use the most up-to-date technology to advertise your work to the biggest and best audience. Our packages include immersive virtual tours (created using 3D cameras), video teasers of the property, a 3D Flyer with a scannable QR code, and a landing webpage with all of your contact information, helping future clients easily contact you. With your talent and our technology, we’ll advertise your listings far and wide to help you sell your properties faster and more efficiently.
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