Facebook ads are a popular way for real estate agents to market their listings to potential buyers. But like any widely adopted advertising tactic, efficacy varies. Some agents generate scores of high-intent leads from each and every campaign. Others struggle to source a contact or two.
As we’ve run tens of thousands of successful Facebook campaigns on behalf of our agents, we wanted to shed light on what strategies lead to greater resonance with buyers and more effective lead generation.
With every agent carrying a state-of-the-art camera in their pocket, there’s no excuse for a lack of crisp, high-resolution property photographs. It’s the only standard, really. Many buyers, especially younger, more digital-adept ones, assume that poor photos are a deliberate attempt to obfuscate a less-than-desirable property or features. As a result, ads with poor quality photographs receive fewer clicks and, in turn, generate fewer leads.
Inclusion of video
A year ago, video wasn’t an expected component of any real estate listing advertisement. After the pandemic, though, it’s the norm.
Why? Prior to the pandemic, prospective homebuyers would attend showings and open houses if they had even so much as a passing interest in a property. Facebook advertisements were essentially teasers, designed to get an agents’ name out there and entice buyers into attending an in-person showing. No buyer expected to see every corner of a property displayed in a Facebook ad.
But because of Covid, homebuyers are more choosy when it comes to in-person attendance. They’ll only visit a property if they believe there’s a serious chance they’ll make an offer. Videos provide a way to approximate that in-person experience. Essentially, without video, you run the risk of a consumer not seeing enough value in the property and opting out of further pursuit.
Immediacy + Humblebrag = Winning Copy
Facebook (or social media in general, really) is never a place for humility. Successful agents leverage their past successes in their advertising. So, for example, when promoting your listings, try highlighting how a particular property won’t be on-market for too long because your previous listings went under contract in days in your advertising copy. You’ll convey both your prowess as an agent and create a greater sense of urgency.
Facebook allows you to build multiple custom audiences. To do so, upload contact information for people you know, such as your sphere and any leads you’ve generated. Facebook will match the data to its user base and allow you to target this specific group of people (if they have a Facebook account). There are three advantages to making a custom audience for all your ads:
- It will keep you top of mind. The next time someone in your sphere is looking for a real estate agent or has a referral, your ads will remind them that you’re an active agent.
- You’ll build brand awareness for leads and cool prospects. Repetition is key if you want them to remember you over competitors.
- It improves the opportunity for organic reach. People who know you are most likely to hit the share button, giving you free placement in their feed.
Only 3.5% of real estate agents target their sphere. But they are the best performing agents.
Leverage lookalike audience feature
Similar to the custom audience, Facebook’s lookalike audience is infrequently used (only by 7.5% of campaigns). To access this feature, you must first create a custom audience as we described above. Facebook will mine that data for common characteristics so it can find a group of similar users who are most likely to be interested in your ad and services.
This type of audience is more refined than blanket-targeting people based on interests and demographics. You can also layer location parameters on top of the audience to ensure your ad stays local.