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The Rise of the Real Estate Influencer
Also Network
December 14, 2023
In the digital age, where social media reigns supreme, a new and influential trend is emerging in the world of property and investments: the rise of the real estate influencer. This fusion of real estate expertise and social media prowess is not merely a transient fad, but a robust movement with far-reaching social, economic, and cultural impacts.
The Phenomenon: A Statistical Deep Dive
The influence of social media in real estate is more than anecdotal; it's grounded in compelling statistics. According to the National Association of Realtors (NAR), 77% of realtors actively use social media for real estate. Furthermore, their Real Estate in a Digital Age Report indicates that nearly half of real estate businesses consider social media as the top source for high-quality leads. Another study by Zillow showed that real estate listings with more visual content, like videos and virtual tours, which are often promoted by influencers, receive significantly more views and engage more potential buyers.
Here are 10 interesting statistics related to the rise of the real estate influencer, highlighting the significant role of social media in the real estate industry:
Real Estate Agent Numbers: There are over two million real estate agents in the United States.
Social Media Usage by Realtors: A significant 76% of realtors use Facebook for their work, making it a primary platform for real estate professionals.
Median Sales Price: The median sales price for houses sold in December 2020 was $355,900.
Average Down Payment: The average down payment for a new home is $59,880.
Experience in the Industry: The average U.S. realtor has nine years of experience.
Home Sales in 2020: A total of 842,000 houses were sold in the United States in 2020.
Choosing Real Estate Agents: 41% of home buyers choose a real estate agent based on a recommendation.
Agent's Main Purpose: 52% of home buyers believe the main purpose of a real estate agent is to find their desired property.
First Agent Advantage: An overwhelming 75% of home buyers choose the first agent they interview.
Facebook’s Popularity Among Real Estate Agents: According to the National Association of Realtors, 89% of real estate agents use Facebook for their business, making it the most popular social media platform in the industry.
Promotion of Listings on Social Media: 63% of Realtors use social media to promote listings, utilizing the platforms to reach a broad audience.
YouTube Usage by Real Estate Agents: Only 26% of real estate agents use YouTube, a relatively low figure considering the platform's vast user base.
Social Media vs. MLS for Leads: 46% of Realtors consider social media the best tool for generating quality leads, surpassing MLS.
TikTok’s Growing Popularity: TikTok's usage among Realtors grew to 12% in 2022, up by 4% from the previous year.
Valuable Nature of Social Media: 59% of Realtors agree that social media is “very” or “somewhat” valuable for their work."
Better Client Relationships: 57% of Realtors say social media helps maintain client relationships.
Prevalent Homebuyer Online Behavior: 96% of home buyers search for their dream home online, with 47% beginning their house hunt with an online search.
Real Estate Agents On Social Media: 80% of real estate agents plan to grow their business using social media.
The charm of real estate influencers lies in their unique ability to make the complex world of property investment more accessible and engaging. Figures like Ryan Serhant, known for his show "Million Dollar Listing New York," and Barbara Corcoran, a prominent investor on "Shark Tank," have utilized their knowledge and personal brand to educate and influence a wide audience. They, along with others like the UK's Property Twins, share insights into real estate, blending professional advice with personal narratives, thereby humanizing and demystifying the property market.
Economic Drivers
On the economic front, real estate influencers represent a new era of digital entrepreneurship. With a global audience exceeding 4.2 billion on social media, these influencers command significant attention and influence. They're not just selling property; they're engaging in affiliate marketing, securing paid partnerships, creating online courses, and even launching their own realty ventures, thereby diversifying and expanding the traditional real estate revenue models.
Multifaceted Impact
The rise of real estate influencers has democratized information in an industry that was once gatekept by professionals. They have created a more inclusive environment where learning about property investment is accessible to all. This movement has also spurred community-building, where individuals share knowledge, experiences, and foster a supportive network.
Economic Impact
From an economic perspective, these influencers are revolutionizing property marketing and sales. Their ability to showcase properties to a global audience often translates into faster sales and potentially higher market prices. They are aligning with the modern consumer's preference for online research and digital interaction in the property buying process.
Cultural Impact
Culturally, real estate influencers are reshaping how people view the industry. They are infusing glamour, relatability, and excitement into real estate, turning it into both a lifestyle choice and a coveted career path for digital natives.
Pioneers and Trendsetters
Beyond Serhant and Corcoran, the space brims with influencers like Graham Stephan, whose candid approach to real estate investment and finance has captivated millions. Meet Kevin stands out for his real-time market analyses and investment strategies. The rise of TikTok influencers like Glennda Baker in Atlanta, who combines real estate advice with engaging, bite-sized content, is another testament to the evolving landscape. These figures are not just influencers; they are educators, community builders, and industry innovators.
The ascent of the real estate influencer marks a pivotal shift in how information and expertise in the property market are disseminated and consumed. This movement reflects a broader change in our information consumption habits, decision-making processes, and perceptions of traditionally opaque industries. As it continues to evolve, the real estate influencer movement will undoubtedly further shape the social, economic, and cultural contours of the property world.
Social and Cultural Underpinnings