Facebook can be an extremely effective platform for real estate agents to promote themselves and generate leads. With over 2 billion monthly active users, Facebook provides access to a huge audience of potential clients. The key is learning how to best leverage Facebook’s advertising tools to connect with homebuyers and sellers in your local market.
Should real estate agents advertise on Facebook?
Absolutely! Facebook advertising offers many advantages for real estate agents looking to grow their business:
- Targeted reach – You can target ads geographically, demographically, and based on interests to reach your ideal clients
- Cost-effective – Facebook ads can cost as little as $1 per day with the right targeting
- Measurable results – Track leads, site traffic, contacts, and more to determine ROI
- Flexible format – Use everything from text, images, and videos to Stories, Live videos, and more
- Retargeting – Remarket to people who have already engaged with your content or brand
According to the National Association of Realtors, over 90% of homebuyers use the internet in their home search. Facebook’s targeting makes it possible to get your brand and listings in front of local homebuyers at the key moments when they are most actively searching for properties online.
How should realtors set up their Facebook Page?
A Facebook Page serves as your professional presence on the platform. Follow these tips to create an effective real estate Facebook Page:
- Choose a unique Page name related to your name or brand. Include relevant keywords like “realtor” or your location.
- Use a clear, professional profile photo of yourself. It will serve as your Page’s icon.
- Write an informative “About” description including your experience, specialties, and service areas.
- Link to your website and other social profiles.
- Use your branding colors and logo throughout the Page.
- Add Contact info, Reviews, Services, and other tabs to your Page.
- Publish relevant content regularly to engage followers.
- Monitor reviews and conversations to provide good customer service.
What types of content should realtors post?
Posting a variety of relevant, valuable content is key for engaging your target audience on Facebook. Consider sharing:
- Listings – Promote your newest listings with photos, videos, open house events, and listing details. Follow guidelines for IDX listing marketing.
- Market updates – Share the latest housing market statistics and trends in your area.
- Home tips – Provide seasonable home maintenance tips or renovation ideas.
- Lifestyle content – Showcase aspects of your community with dining, recreation, and events.
- Agent spotlight – Share background on yourself or colleagues to build familiarity.
- Sold listings – Show examples of past sales success with client testimonials.
- Behind the scenes – Give fans a look at your daily work life in real estate.
Aim for an engaging mix of 80% value-added content focused on your niche and 20% direct promotions. Vary post formats using images, videos, live videos, and more.
What are some best practices for Facebook ads?
When running Facebook ads, keep these tips in mind:
- Target locally within a specific radius or zip codes to reach your geographic farm area.
- Define your audience beyond location based on demographics, interests, behaviors, and more.
- Test different types of ad formats – Boosted posts, photo ads, carousel ads, Stories ads, etc.
- Headline and imagery should quickly convey what you can do for clients.
- Keep text short, clear, and focused on your audience’s needs.
- Split test ad variations to determine what resonates best.
- Use a strong call-to-action driving to your website, listings, or a lead gen form.
- Set a total budget and daily budget that aligns with your goals and ROI targets.
- Monitor performance and optimize based on results.
What types of Facebook ads work for gaining real estate leads?
Here are some of the most effective Facebook ad types for generating real estate leads:
Boosted Post Ads
- Boost organic posts promoting listings, open houses, or market updates
- Easy way to expand reach and engagement
- Best for growing brand awareness and exposure
Click-to-Website Ads
- Send users to your website or landing pages
- Ideal for promoting a call-to-action like contacting you
- Allows retargeting site visitors
Lead Generation Ads
- Collect contacts directly within Facebook via lead gen form
- Great for capturing buyer and seller leads
- Gathers key details like price range, move timeline, etc.
Catalog Sales Ads
- Showcase listings or open house events
- Users can browse available properties and tap to learn more
- Optimized to drive consideration and listing views
Video Ads
- Create custom video ads with calls-to-action
- Dynamic format that builds awareness and interest
- Opens up Story Ad options
Combining different ad formats allows you to influence potential clients throughout all stages of their home search journey.
Should I hire an ad agency or manage Facebook ads myself?
There are pros and cons to both options:
Hiring an ad agency can provide:
- Facebook ad expertise to set up and optimize campaigns
- Time savings so you can focus on servicing clients
- Account management including reporting and analysis
- Access to more advanced campaign tools and features
However, an agency comes at a cost and they may not have the same intimate knowledge of your local market. Many agents choose to start by learning Facebook ads themselves using free education resources. This allows you to:
- Maintain full control over campaigns and spending
- Gain first-hand experience and optimization skills
- Build campaigns focused specifically on your niche and offerings
- Optimize and adjust efforts as needed
- Invest ad dollars back into growing your business vs agency fees
For those managing their own Facebook ads, explore Facebook Blueprint courses to master the platform and achieve better results.
How much should I spend on Facebook advertising?
As a general rule of thumb, aim to dedicate 5-15% of your gross commission income to Facebook advertising. However, examine your business goals and acceptable CAC to determine the right budget for you.
When first starting out, plan to invest at least $50-100 per month to effectively test and learn. Monitor key metrics like cost per lead, click-through rate and conversion rate to optimize efforts. Increase your budget gradually as you identify winning strategies.
To calculate your ideal spend, first define monthly lead goals. Multiply by your average cost per lead based on initial tests. This gives your minimum monthly budget. Also factor in your average commission and desired ROI – this gives your maximum budget.
Optimizing campaigns to lower CPL over time will allow your budget to drive more results. Be sure to track conversions to prove the ROI of your spend.
What are some key metrics to track?
Measuring performance is crucial for any Facebook ads strategy. Keep an eye on these essential metrics:
- Cost Per Result – Cost to acquire a lead, contact, etc. Goal: Lower costs over time
- CTR – Click-through rate. Goal: 2-3%+
- CPC – Cost per click. Goal: Lower costs while scaling reach
- CPM – Cost per 1,000 impressions. Goal: Keep under $10
- CPL – Cost per lead. Goal: Measure against commission to determine positive ROI
- ROAS – Return on ad spend. Goal: Positive ROI after lead conversion
- Conversions – Listings leads, buyer inquiries, transactions, etc. Goal: Increase monthly conversions
Track metrics on both the campaign and ad set level. Use learnings to optimize targeting, ads, and placements to improve performance over time.
How do I optimize my Facebook strategy?
Consistent optimization is key to boosting Facebook ad results over time. Follow these best practices:
- A/B test ad variations – creative, messaging, layout, etc.
- Try different placements – Audience Network, Instagram, Messenger, etc.
- Adjust targeting – titrate detailed targeting, widen or narrow reach
- Monitor timing – pay close attention to seasonality, holidays, events, etc.
- Stay on top of changes – Update campaigns to follow Facebook’s policies and algorithm shifts
- Review reports – Evaluate metrics weekly and monthly to identify improvement areas
- Watch industry trends – Keep up with what top competitors are doing
Optimization is an ongoing process as consumer behaviors and the platform evolves. Continually refine efforts based on real-time learning and data.
What are the advantages of Facebook Lead Ads for realtors?
Facebook Lead Ads offer a number of unique benefits for real estate agent advertising:
- Lead forms are embedded directly into the ad unit for instant lead capture.
- Custom qualifying questions (budget, beds/baths, timeframe, etc.) provide lead details.
- Higher quality leads than basic clicks with demonstrated intent and engagement.
- Users opt-in by voluntarily submitting contact details.
- Higher lead conversion rates for calls, emails, and appointments.
- Cost per lead pricing model through Facebook’s auction-based system.
- Delivers leads directly into your chosen CRM.
Lead ads let homebuyers and sellers make the first move by requesting info from you, rather than needing to click out to your site. The built-in questionnaire also generates highly qualified, sales-ready leads.
What else can I do to improve my real estate marketing on Facebook?
In addition to advertising, be sure you are fully leveraging other Facebook features:
- Go Live to stream open houses, Q&As, market updates, and other real-time video.
- Run official Facebook Ad campaigns for listings.
- Engage with Facebook Groups related to real estate, home buying/selling, and your local community.
- Use a Facebook Pixel to retarget site visitors.
- Claim your Instagram handle to extend reach.
- Partner with other businesses through Facebook Pages.
- Promote and track listings directly on Facebook through Lead Ads.
A comprehensive Facebook strategy encompasses both free and paid activities tailored to your target customers.
Conclusion
Establishing your brand on Facebook is a must for real estate agents looking to expand their digital presence. By optimizing your Facebook Page, sharing valuable content consistently, and investing in smart Facebook advertising, you can achieve great success connecting with qualified buyers and sellers online.
Focus on providing value and understanding your audience first before aggressively promoting listings or your services. Build trust and awareness through helpful content and community engagement. Then market yourself effectively through targeted Facebook ads.
Measure and optimize efforts based on key metrics like leads, contacts, and conversions generated. Refine your strategy over time to maximize ROI and lower lead acquisition costs. With the right approach, Facebook can become an invaluable part of your real estate marketing strategy.