The real estate market has already undergone a significant digital transformation in the last couple of decades, but in 2024, the pace of digital innovation is only due to increase. As homebuyers increasingly turn to online methods, realtors will find it increasingly beneficial to adopt a holistic omnichannel marketing strategy that emphasizes smart adoption of the newest digital resources.
The shift towards digital channels for property research and transactions is a natural result of technology. Just like the printing press, radio, and television, the internet and the devices that connect us to it have changed every aspect of business, even the very “real”-world business of real estate.
A recent study by the National Association of Realtors (NAR) revealed that over 51% of home buyers viewed their homes 100% online before buying – never even setting foot in their new home before they moved in!
As we move into 2024, the case for integrating a comprehensive digital marketing approach has never been stronger. At LSC, we believe realtors should embrace a holistic, digital-first marketing strategy in 2024, combining the best practices to achieve ongoing success as technology and consumer trends continue to evolve. Here’s why:
Understanding the Shift to Online Real Estate
The internet has reshaped buyer behaviors and expectations across industries, showcasing the efficiency, accessibility, and breadth of information available online.
Recent statistics from the National Association of Realtors (NAR) underscore the critical role of the internet in the home buying process: In 2020, an overwhelming 97% of homebuyers used the internet in their search for a home.
This statistic alone illustrates the internet’s central role in the modern homebuyer’s journey, signaling a profound shift from traditional to digital methods of property discovery and evaluation.
By 2021, more than half of the homes viewed by buyers were viewed solely online, highlighting a growing preference for digital exploration of properties.
Out of all industries, realtors are in one of the best positions to benefit from digital marketing strategies that cater to modern consumer habits—leveraging the power of the internet to meet and exceed the modern homebuyer’s expectations, easier and more profitably than ever before.
Digital Marketing Offers Unique Benefits for Realtors
Home-buying decisions are among the most significant and emotional in a person’s life, and this makes it essential for realtors to know their audiences and communicate with them on a personal, impactful level. The ability to provide comprehensive, easily accessible, well-targeted, and personally engaging marketing content sets a realtor apart in a crowded market – and digital marketing solutions enable it all like never before.
Keep in mind, we do recommend a holistic, omnichannel marketing strategy across all industries for 2024. All the tried-and-true methods are still effective – handshakes, phone calls, and good old direct mail have not been rendered obsolete. Digital marketing, however, allows for a level of automation and customization other methods simply don’t.
What exactly is omnichannel marketing? At its core, an omnichannel strategy integrates multiple methods of marketing to create a seamless, consistent, and highly personalized buyer experience. This strategy caters to the modern consumer’s expectations by leveraging the unique strengths of each marketing platform to maximize outreach, engagement, and conversions.
This is important primarily because the real estate transaction process is inherently information-rich and decision-intensive. Digital marketing strategies enable realtors to curate and disseminate property information, market insights, and personalized content in ways that directly address the buyer’s desire for comprehensive, accessible, and immediate information at every step of their journey.
We’ve also found that the visual nature of real estate purchasing aligns perfectly with the capabilities of digital platforms, from photo galleries to virtual tours. Your potential buyers can immerse themselves in your properties straight from online listings, without ever leaving their homes, expanding your real estate marketing’s reach to audiences that you might never have been able to engage with through traditional methods.
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Furthermore, digital marketing offers unparalleled opportunities for targeting and personalization – key factors to consider in real estate, where personal preferences are often non-negotiable. Through advanced analytics and data-driven marketing techniques, realtors can identify and segment their audience with incredible precision, tailoring their messaging and offerings to match the specific needs, preferences, and behaviors of different buyer personas and drive higher engagement and conversion rates.
Top 4 Advantages of Omnichannel Marketing for Realtors
1. Enhanced brand consistency:
Omnichannel marketing ensures that realtors present a unified brand message and experience across all platforms. Brand recognition and trust are crucial to the decision-intensive process of buying or selling property. Individual realtors, your brand is you! Show your personality.
2. Personalized customer journeys:
Realtors can offer personalized interactions based on the consumer’s past interactions, preferences, and behavior. This level of personalization can significantly improve the client’s experience, leading to increased trust and readiness to buy.
3. Increased reach and engagement:
Utilizing a mix of channels allows realtors to reach individual potential clients where they spend their time online. Each platform has its unique audience and engagement strategies, enabling realtors to tap into diverse demographic segments.
4. Data-driven insights for strategic decision making:
Omnichannel marketing provides a wealth of data from different sources. Realtors can analyze this data to gain insights into consumer behavior, preferences, and trends, allowing for more informed and strategic marketing decisions.
Special Bonus Tip: Top 5 Social Media Platforms for Real Estate Pros
Here’s a statistic for you – a recent industry survey by NAR found that realtors who used online marketing were getting more than half of their leads from social media – and that somehow, only a little more than half of realtors were using social media at all. We recommend you take advantage of this rare opportunity by getting active on these five platforms as part of your omnichannel marketing strategy:
1. Facebook
With its vast user base, Facebook is ideal for reaching a broad audience. Realtors can use targeted ads, live videos, and interactive posts to showcase properties, share market insights, and engage “Face-to-Face” with their communities.
2. Instagram
A visually driven platform, Instagram is perfect for showcasing high-quality images and videos of listings, behind-the-scenes looks at open houses, and client testimonials to capture the attention of potential buyers and sellers.
3. LinkedIn
For realtors focusing on commercial properties or looking to network with other professionals, LinkedIn offers a more formal platform for sharing industry insights, market trends, and professional achievements.
4. Pinterest
Another visually-driven platform, Pinterest is ideal for showcasing the aesthetic and lifestyle aspects of properties. Realtors can create boards for home decor, landscaping ideas, and neighborhood guides to inspire and attract potential buyers.
5. YouTube
YouTube offers a platform for in-depth property tours, client testimonials, and educational content, attracting engaged viewers with the power of video. Take advantage of YouTube Shorts, a perfect medium for previews of your properties.
Is Your Real Estate Marketing Ready for 2024?
The future of real estate marketing is digital-first, and the time to adapt is now. With a majority of homebuyers initiating their search online and many making purchasing decisions without a physical walkthrough, the message is loud and clear: digital channels are not just supplementary; they are central to the home buying and selling journey.
Begin by assessing your current marketing, identifying gaps, and exploring the vast array of tools and platforms at your disposal. Invest in building a cohesive online and offline brand, engaging with your audience across multiple channels, and harnessing the power of data to inform your strategies. Remember, the goal is not just to be present online but to harness the immediate access granted by the internet to create meaningful, personalized interactions that resonate with your audience and drive results.
We wish you the best of luck in all your endeavors in 2024. If you’re a real estate professional looking to supplement your marketing, digital or otherwise, we at LSC would love to talk with you about how we can help. Contact us today.