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5 Useful Tips For Buying Real Estate

5 Useful Tips For Buying Real Estate

Social Media Tips To Grow Your Real Estate Business

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Social media provides a way to connect with your clients and boost your real estate marketing efforts. Social media can build trust, and spread your marketing through friends of friends.

But HOW do you do it?

The world has gone online. The internet has become our largest, easiest and fastest form of communication that has brought people across the globe together. More than 1 billion people in the world are on Facebook. Twitter recently surpassed 400 million accounts and LinkedIn isn’t far behind with over 200 million users. Many realtors are trying to take advantage of these trends, by using social networks to promote themselves and broadcast their messages, but few are fully reaping the rewards.

If you stop thinking like a marketer and start thinking like a customer, you’ll understand the secret to social media is in the “social” more than in the “media”. It’s in being human, and being the sort of person who listens attentively, tells great stories, shows interest in others and is authentic and honest. To put it simply, the secret is to be likeable.

Here are seven tips to ensure great success using social media:

1. Listen first and never stop listening

Before you start tweeting, search Twitter for people talking about your company and your competitors. Hashtags categorize similar tweets together and allow you to search through a page dedicated to people talking about the exact same thing. Look through hashtags using words that your prospective customers would say as well. For example, realtors should use Twitter and Facebook to search for people using phrases such as “#LookingForARealtor” or “#HouseHunting” in your town. You’ll be surprised how many people are already looking for you.

2. Be authentic

Be human and be yourself. Are you sponsoring a team in your town? Do you volunteer on the weekends? Share it with your followers! Know a few real estate jokes? Tell them! Imagine how much positive feedback you would get if you asked: “Why didn’t the hipster realtor show the oceanside mansion? – It was too current.” Write posts that show your company’s personality and watch your online community begin to engage and grow.

3. Ask questions

Wondering why nobody’s responding to your posts on Facebook? It’s probably because you’re not asking questions. Social media is about engagement and having a conversation, not about self-promotion. If a realtor posts on Facebook, “Come in and see what’s on the market today,” there is no reason for a customer or follower to comment, so nobody will call to make an appointment. However, if that realtor posts a question instead, as simple as, “What’s your favorite style windows for your home?” people will be more likely to comment online and engage with the company. Better yet, if the realtor asks “What’s the best part about home shopping?” think of not only the number of people who will comment on the post and bring attention to the company, but also how much you could learn from the market in their responses!

4. Don’t tell your customers to “like” you and “follow” you, tell them why

Everywhere you turn, you see “Like us on Facebook” and “Follow us on Twitter”. But WHY? Give your customers a reason to connect with you on social networks, by answering the question “What’s in it for me?” Note the difference between these two Facebook posts: “Like our page on Facebook” vs. “Get answers to your real estate questions on our Facebook page.” Remember the key to success on social media is engagement, so give them a reason to like your page.

5. Share pictures and videos to tell stories

People love photos. The biggest reason Facebook went from zero to 1 billion users in nearly 10 years is photos. Photos and videos tell stories about you in ways that text alone cannot. Use your phone to take pictures and short videos of customers and cool things around your neighborhoods. A picture of a young couple in front of their new home is Facebook gold. Try a video featuring testimonials from your happy customers!

5 Useful Tips For Buying Real Estate

1. Ask yourself a lot of questions

The first step in purchasing real estate is knowing what you want! It is imperative that you enter the process knowing yourself, your situation, and what you’re looking for.

A few questions that you should ask yourself before you begin your search are:

-What kind of location do you need?
-What kind of property are you looking for?
-Do you need to buy or could you lease the property?
-What’s your situation regarding cash, financing, and/or ability to make a down payment?
-How much time can you commit to the property?
-How much work are you willing to put into the property?

2. Learn some real estate vocabulary

Here are ten real estate terms you should know and understand before you start looking for a home. Educating yourself on the lingo will not only make you more confident throughout the process, it can ensure that you don’t miss important steps that could cost you a fortune in the future.

Here are some common terms to get started with:

Buyer’s Agent vs. Listing Agent: There are usually two agents involved when you buy a home; the “buyer’s agent,” who represents you, and the “listing agent,” who represents the home seller. One thing many people don’t realize is that when buying a home, you don’t have to pay your real estate agent; they’ll get a commission from the home seller.

Fixed Rate vs. Adjustable Rate Mortgages: A fixed rate mortgage has a predetermined interest rate throughout the life of the loan; the most common are for 30 years. An adjustable rate mortgage has a variable interest rate; the most common are for 5, 7, or 10 years.

Pre-approval Letter: Before you apply for a mortgage or even start looking for a home, you should get a pre-approval letter from the bank, which is an estimate of how much they’ll lend you. This letter will help you determine what you can afford, and ensures home sellers that you will be able to get a loan when needed.

Appraisal: When you apply for a mortgage, your lender will require an appraisal of the home you want to buy. A licensed appraiser will estimate the home’s value based on comparable homes that have sold in the area and an investigation of the property.

Click here to learn about more real estate vocabulary.

3. Visit and consider many properties.

Do your homework on each! Before you make an offer on a house, it pays to ask a handful of questions. While the answers might scare you off or make you rethink your bid, they could make you feel more confident that you’re making the right move on the right house. Tour as many different properties as possible and most important, don’t rush anything! Figure out what works and what doesn’t about each of them for you. Consider the most important things for each one including price, location and condition. Above all, you’re searching for a “match” with your property. Your situation and needs are unique.

Here is an extensive checklist of helpful questions to ask while touring properties.

4. Find the experts.

A professional has the skill and experience to guide you as first time home buyers. They have key relationships with professionals like lenders, home inspectors, contractors, etc. They can guide you from start to finish and answer any questions you may have throughout the home buying process. Their goal is for you to have a smooth real estate transaction and have a positive home buying experience.

5. Figure out your financing

If you’re like most people, you’ll need to get some financing help to be able to purchase the your new home. What type of banks, credit unions or other home mortgage company could you use? What kind of credit do you have and what kind of interest rate could they give you? Answering those questions will put you on the right track for the financing process.