Real estate is a competitive business; everyone in the industry knows that. Many realtors are willing to do whatever it takes to get to the top of the ladder regardless of the time, financial or emotional investment they put into it. However, instead of spending 60+ hours weekly, thousands of dollars and incurring the cost of a strained relationship with the other realtors in your office, look no further than Facebook Live. If you want to spend just a few minutes weekly, a few bucks (which is optional), and be more subtle in your climb to the top, then drop what you’re doing and go live. For a more detailed guide on how you can start your first live video, see this tutorial for a step-by-step explanation.
What is Facebook Live?
To put it simply, Facebook Live is a free live video streaming application that is built into every single personal and business Facebook accounts. Anyone has access to this application from anywhere at anytime; combined with the fact that it’ a free application means that there are no barriers to entry into entering the live streaming game. Facebook Live has been proven to serve as an extraordinarily successful marketing and advertising tool for small businesses in that it produces leads, many of which will convert into sales. As a realtor, there are endless opportunities to produce an effective live video. If you are interested in gaining a deeper understanding of the value of Facebook Live, read this guide for more details.
Facebook Live for Realtors
One trending opportunity is to go live for an open house, providing a basic tour of the home while viewers can watch from home and ask questions as they are on the guided tour by interacting with the live video through comments and reactions. However, another popular trend is to provide an individualized tour, like a Skype tour, but through Facebook. The advantage to this is that you can tour a home for sale if you are far away and unable to see the home in person. Additionally, the video will be saved to your profile as a permanent video asset whether you’re presenting a live open house or providing a private live tour of the home. Being able to revisit the open house tour that you previously experienced makes the home search and buying process far easier. Instead of seeing the home once or twice and trying to remember its features before making a decision will provide incentives for clients to use you as their realtor. Your business will separate itself from the others and begin to take off if you are able to go live before everyone else can. These two possibilities is only the start to going live. Live video offers a multitude of ways to be creative in showing potential buyers a home. Creating videos that are interactive, different than the ones produced by your competition and are frequently occurring will also help you separate yourself from other realtors. Have guests from a mortgage company or maybe even the previous homeowner in a video who can assist you in the tour and answer questions along the way.
Advantages of Using Facebook Live- As a Realtor
The advantage of using Facebook Live is simple; you can reach more people than ever before inexpensively. There are more than one billion people on Facebook that could potentially be reached by your live video. Although reaching every Facebook user may not be realistic, reaching even a few thousand people will still be effective in the long run. Even better, reaching these populations can be done for free. However, an investment of zero dollars will likely result in a poorer quality video that does not capture an audience for a decent length of time. With a few software and hardware upgrades (see previous article here), which can be done in accordance with any budget, your videos will improve drastically. Some of this software is free and can provide creativity for your videos. For instance, Live:Air Solo is an iPhone application that will allow you to create a customized overlay for your live videos, increasing professionalism and originality. See our previous article on Live:Air Solo to get started on instantly (and freely) improving your live videos.
One of many success stories begins with a client in a smaller city in southeast Michigan. She decided to give live video a chance and it was an enormous success. The home was worth around $200,000 had 3 bedrooms and 2.5 baths. It was a simple, but nice home. This realtor showed this home by doing a live open house (with me alongside her for moral support) in the video. Throughout the video viewers left questions about the home in the comments, and we used their responses to create a more effective open house. Additionally, viewers were sharing this video, which allowed us to reach out to people we would have never had access to. This live video was so effective, in fact, that there were four buyers very actively pursuing this home after the video was shot. Even better, approximately 1,800 people were reached by this video. For just a few minutes and a few dollars to upgrade the video hardware, this realtor was able to reach audiences they could not reach with a traditional open house while capturing multiple active buyers. There are many cases similar to this one for homes in all prices ranges and in many areas representing all socioeconomic statuses. This realtor now regularly uses live video while selling her homes and has seen a noticeable difference in her ability to get leads and convert those leads into sales.