Facebook is redefining the traditional farm area with data
It’s been a monster week for announcements from tech giants when it comes to real estate.
Facebook has entered into Australian real estate (and real estate the world over) in the most agent friendly manner we’ve seen in a while – handing the power back to agents when it comes to marketing properties digitally.
Meanwhile Amazon (in the USA at least), are doing their bit to help agents generate business and leads with a new referral system based (seemingly) on merit.
But the impact of these announcements actually runs a lot deeper than just another headline about an industry shake up.
In fact what Facebook’s offering brings to the table is a pairing of automation with laser-like targeting, something that LJ Hooker have picked up on and are now looking to capitalize on in a major way with their latest technology offering for their agents.
While I’m not going to get into the nitty gritty of their offering, what I will say is this – they’re saying all the right things and for all appearances demonstrating that they understand the value of data.
One core part of a recent article on the Real Estate Business website says it all:
Mr McTavish said that the built-in intelligence of the system allows it to ring-fence and retain its intellectual capital.
“With most digital outreach campaigns, you’re handing over data which is ultimately used by that digital service supplier or portal in other campaigns.
“Data is the lifeblood of any agent and introducing third parties dilutes the current and future potential of the data, and even worse, leakage of data…..”
“Data is the lifeblood of any agent…” That’s it right there, your future, your profit, your career is in your data. It would seem that LJ Hooker understand that intimately and are doubling down on it- and rightly so.
As we move forward in this new technological age, data is king and most importantly it will be data, not geography that is the primary factor in defining your “Farm area.”
That’s not to say geography won’t play a part, lets face it, few agents want to drive 3-4 hours to list and sell a property, but the once strict geographic boundaries will become very very blurred.
Already agents have the ability to capture and consistently re-market to anyone who comes into contact with their content, website, videos, Facebook page and or apps. Once they’ve been captured they become part of your “digital patch.”
The digital patch concept is one that employs a number of the tools within the Facebook marketing platform to turn your ads, content, website and videos into a beacon for interested buyers and sellers. Once they’ve engaged with your ads/content/website/videos, they’re part of your marketing patch for at bare minimum, the next 6 months. This will give the agent power to advertise not just via Facebook but essentially have their ads follow their potential client all over the internet and social space.
Set up correctly, it allows an agent to turn every listing, every piece of content, essentially everything they do in the digital space, into a lead magnet.
Damien Misso’s digital patch allows his brand and offer to appear whereever his audience are. In this case, an article on the McGregor Vs Mayweather fight scheduled for August 26th.
In this new digital world action equals interest.
Think about your own usage, the ads you click on, the posts and articles you engage with – you simply don’t click, don’t take action unless you have some level of interest in that content and learning more about it.
As a result, every single person being added to your digital patch, regardless of the content they’ve engaged with, has some level of interest in real estate. From there, you are able to re-market to them and further filter them through to buyer and seller calls to action.
It’s this digital patch that will become the dominant focus of successful agents moving forward for three core reasons:
- Once it’s set up, it will run almost automatically with minimal interference from anybody except when it’s time to update content.
- It will generate both buyer and seller leads consistently
- The massive reaching impact it will have on your personal and company brand
In this example, Damien’s brand and offer has found it’s way into a popular app based game. Where ever his audience goes, his brand and offer can be there.
But none of this is speculation – this concept is already being implemented by FBM Academy students with stunning results being produced regularly, in the form of consistent leads and massive lifts in personal and corporate brand recognition.
With 16 million Australians on Facebook each month and more capability to automate, target and market to these people, being put in the hands of agents every single day – Facebook is redefining the “Farm Area” at a rapid rate.