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The Zen Of Online Social Networks

Online Social NetworksOnline social networks are "all the rage" on the internet, and many of us can admit that we spend far too much time perusing Facebook or another site to justify their overall benefits. But today I want to share a story about how the social networks are changing my business, and perhaps so many other businesses as well.

I have been using LinkedIn for several years now, and have connected with more than 1,200 friends and business contacts. While the purpose of today's blog post is not to discuss how Linkedin works, I just want to say that it is amazing how it enables you to find an expert at anything, anywhere in the world. And that brings us to the point of this blog post, which is to show a real world example of how online social networks enable business best-practices to rapidly grow beyond the boundaries of the employees and members of an organization.

Question From An Online Social Network

I received the following question late last night from another Linkedin user in Toronto, Canada, who wrote (paraphrased):

I listed my house back in October 16,2011. I admit I over priced it so I re listed it for the right amount. After 6 weeks of having very few viewings I finally got an offer, however the deal did not went through for the buyer changed their mind the very next day. I did everything I can to market my property, I send out flyers, put my listing on craiglist, kijiji, I did an open house like 4 times and even send out my listing to fellow agents.

I have been getting a lot of on line viewing and almost 23 agents came by to see my property , 3 of them came back twice but still no offer.. I'm wondering if u can give me some insights on how to sell my home sooner. It's been 60 days now and the area where I am is quite busy, so what needs to be done?

Before I show you my response, it is important to note that I often write on this very subject. I could have sent him a link to "Internet Marketing's Impact On Real Estate," an article so well received by online social networks that it has been "tweeted" on Twitter more than 13,600 times! How's that for social media's impact on real estate?

Or better yet, I could have sent him to my article and video "Why Is My Home Not Selling?" It covers the basic marketing principles that are the foundation to selling a home in today's housing market. It has been tweeted over 680 times and the video has been viewed more than 13,000 times on Youtube, yet another great online social network.

Instead, I gave him an answer right off the top of my head, and now that I'm repeating it, I wouldn't change a word.

Home Selling Advice Through Online Social Networks

I would keep my focus to marketing online and continue what you are doing. Unfortunately, you are experiencing a level of rejection that is giving you all the feedback that you need. On rejection:

1. If your home is being heavily marketed, and there are a decent amount of sales occurring in your price range, yet nobody is showing your home, you know that you are significantly overpriced. Agents and the market are "REJECTING" your asking price and do not like your home compared to all of the other options in the market. But if your home is being shown, then ...

2. If your home is being shown, but you are not getting offers, then you are slightly overpriced. This means that when doing their computerized search, your home is appearing in their list of "good values" and people want to see your home. But when they compare your home (in person) with their other value selections, they are choosing to buy something else. This just means that you need to tweak your price down until you get an offer that closes.

The key to my answer was that he had to be heavily marketing his home, which he appears to be doing. Most homes do not get this kind of attention from their real estate agent, and often times the solution the agent provides is a blanket "lower your price." While giving the home away is a technique, I would recommend the right price with the best online marketing plan for selling a home.

 Online Social Networks Continue To Shrink The World

The question and answer above show just how small the world is getting. A real estate agent in Toronto asked advice from a real estate agent in Tallahassee. Ten years ago, he would have no idea that I even existed! But the online social networks are truly creating a global community.

The impact of this global community is hitting businesses right now, and in a highly positive way for the most part. By sharing "best practices" from all-over, organizations and companies have the ability to continually improve. Of course, this also means that those who do not use the power of online social networks are likely to fall to the way-side, dying with processes and techniques that have long-since become ineffective.


Joe Manausa Real Estate is a brokerage company headquartered in Tallahassee, Florida. Its unique business model provides specialists to both home sellers and home buyers, and the results speak for themselves. JMRE has significantly more 5-star reviews on google than any other local competitor. Joe Manausa Real Estate is a leader in internet marketing and utilizes search engine optimization, email marketing, social media and data analytics to get their clients’ home sold faster and for more money than any other Tallahassee brokerage firm. For more information, visit www.manausa.com or call us at (850) 366-8917.

Discussion

#1 By Margaret Poole at 7/11/2017 3:46 AM

Joe,

This is off topic but when I read this article I instantly thought of you. You've been saying that the NAR and their chief economist, Mr. Yun, have been fudging the data for years. Here is your proof! Nice to be vindicated, huh?! http://www.cnbc.com/id/45659547

MP

#2 By Joe Manausa, MBA at 7/11/2017 3:46 AM

Thanks for the heads-up Margaret, perhaps I'll write on this tomorrow :). I think "certain" heads should roll and NAR should assemble a better team.

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