Facebook Ads are one of the best tools available to marketeers in 2019. Being able to access up to 2.4 billion active users (as of March 2019) is just amazing. But it doesn’t stop there, oh no. Facebooks Ad Management allows advertisers to narrow down the audiences we want to advertise to, so we only target those most interested in what we have to say.
This is fantastic for all involved. For us marketeers, we can stop wasting money advertising to people who don’t fit with what we do and sell. As for the 2.4 billion active users, they don’t get annoyed seeing ads completely irrelevant and of no interest to them.
And Facebook is showing no sign of dieing just yet as I discussed in a post last month (read here).
But what people don’t necessary know, is that Facebook Ads can be used for more than just general marketing purposes. There are actually dozens if not hundreds of alternative uses for it, across many different industries.
But for today, I want to cover how it can be used for the Real Estate industry. You see, there are many day-to-day tasks that people in the RE industry that would benefit from using Facebook Ads, if only they knew how.
Funnily enough, a few of the 5 uses are still advertising, but because they are not typically associated with broad marketing platforms such as Facebook, people just neglect the opportunities.
So let’s dive in to the 5 non-marketing uses of Facebook Ads in Real Estate…
1. Sourcing Properties
Sourcing properties is an activity carried out by many different people in Real Estate. Some companies and individuals focus entirely on sourcing properties at discount to sell on to investors. Other companies and individuals are doing the sourcing purely for their own benefit. And some specialise in building property portfolios for hands free investors, and as part of that they source the investment properties for their clients.
Facebook Ads can be used to target property owners looking to sell soon or now. And for those looking to only buy in certain areas, they can target locations easily too. These combined makes Facebook Ads a powerful tool for people looking for property to buy, whether for themselves or on behalf of another.
2. Selling Properties
This is one where you’d really think companies selling properties on behalf of landlords would be using Facebook for already. But the truth is, many just arn’t. They rely too much on their own companies branding, website SEO and word of mouth in their area to sell properties.
The same goes for landlords and owners looking to sell their own properties, avoiding the use and cost of a third-party agency.
Facebook Ads can be used to target people in both the area the property is being sold in, as well as potential people looking to buy. Ideal audiences can be targeted by narrowing further depending on the house. For example, if the property has 4 bedrooms, you can run ads to target parents of children under 20, perfect for that house. In return you’d be avoiding advertising to wrong people, like single people who have no need or interest in a 4 bedroomed house.
If you had some new build properties to sell, you might want to target first time buyers such as people in relationships/engaged/married between 18–25.
3. Finding Tenants
For both people looking for somewhere to rent, as well as landlords/agencies looking to tenant a property, there is far too much reliance on real estate only advertising platforms, such as Rightmove in the UK as well as other things covered in 2. Selling Properties.
Also similar to selling properties, is how people searching for tenants can find ideal tenants. Again it’s all focused around the location of the property, and it’s size. But you could dig in even further. If you allow pets, you can target ideal people who also have pets! The same goes for children for example.
4. Finding Investors
Finding investors is an interesting one. As with the others, this real estate ‘task’ already has go to methods which are relied upon too heavily. For finding investors, there are clubs and networks that allow potential investors to promote themselves, and people seeking investors to find them!
Facebook Ads however opens up many other possibilities. With it, you can target people with the ideal criteria of being an investor. For example, existing landlords would make ideal investors in real estate as they already have some!
There are also some financial demographics available on Facebook Ads, albeit not as much as there used to be. This again, could be used to target only those with the money to invest, and not those that don’t.
There are a lot of other demographics you can play with too. Having done Marketing for a leading Real Estate investment company in the UK for 4 years, I know the standard target audience of investors. They are 35–55, have children, an income of £40,000+, savings etc.
And most of this can be inputted into Facebook to target only those people!
5. Finding Joint Venture Partners
For those unaware with the concept of joint venture partners, it’s essentially where somebody is looking for one or more people to invest with them. In our case, in real estate. This will mean splitting the costs equally, but can also include sharing the work load needed etc.
Similar to finding investors, looking for joint venture partners has certain methods relied far too heavily upon. In this case, networking is the primary method used.
Facebook Ads however allows you to find the ideal joint venture partners. These people are very, very similar to the people you’d target when looking for investors. People with money, those perhaps who own real estate already. And so on.
I hope this has helped shed some light on the possibilities on using Facebook Ads in the Real Estate industry. Stay tuned in the very near future as I do some other posts on how Facebook Ads can be used in other industries…