Fashions in social media come and go. Facebook, however, endures as the most popular platform, with around 2.4 billion worldwide users per month, far surpassing Instagram and even YouTube.
According to a YouGov poll, published in November 2019, Facebook is also the highest rated channel in the UK with a 56% approval rating - and 100% of respondents had heard of it.
In the research, Facebook scores well among each of the age-based demographic groups; millennials, generation X and baby boomers.
So it's no surprise that Facebook ads work incredibly well for Estate and Letting agents too.
Why Facebook is one of the Best Platforms for Real Estate?
With an average of over 30m UK residents’ users per month (source: statista.com), it is obvious that your target audience almost for any industry lives and interacts on Facebook.
This means that Buyers, Renters, Sellers and Landlords are most likely to be among those 33 million users.
So, if you’re looking to generate leads for your estate agency, Facebook will help you reach everyone from first-time buyers to downsizers or people renting out an inherited property.
But an even more compelling reason to include Facebook ads in your real estate marketing strategy is its unique ability to let you target your campaigns to very precise audiences.
Facebook might not be the “Best” platform, but absolutely a platform that should be used as part of any campaign.
If you’re wondering how to advertise your estate or letting agency on Facebook, we dip into some of the key things you need to know.
Boosting a post
If you’re new to Facebook advertising, an easy way to get started is by boosting an existing post.
Boosting a post means paying to increase the reach of your post to people who wouldn’t otherwise see it.
Choose a high-quality post with a clear call to action and a great photograph or video.
It’s a good idea to let the post gain some traction organically - and for free - before you boost it. Make sure you analyse your boosted posts to find out which worked best and use this information to guide your future marketing strategy.
Running an advertising campaign
Before you begin creating adverts on Facebook for your agency, you need to be clear about a few things:
This will vary depending on what you want to achieve. There are two main goals. Traffic & Conversions. Depending on the objective we set this will influence our goals.
For example, if we try to capture more landlords, we might offer them a free report to download.
Where the goal/objective will be for them to complete the registration, download the report and provide us with their name and emails for future communication.
This would be a conversion goal.
Whereas a Traffic Goal, on the other hand, might be used to simply increase brand awareness, and send as many people as possible to a specific article, press release or the website homepage.
Helpfully, as you begin to develop your campaign, Facebook’s ad manager creation tool gives you a range of options to choose from, whether you want to increase awareness, generate leads or bring about conversions.
The beauty of Facebook advertising is that it allows you to define exactly who sees your campaign.
So, if you’re looking to generate leads on Facebook, for a particular area of your business, it really can help you.
Facebook already knows a great deal of information about its users, such as their age, location, marital status, employment, hobbies and interests.
You used to be able to target people to an ultra-precise degree out of the box.
Whether you were looking for landlords with full-time jobs aged 35 to 55 in Islington or new parents living in a one-bedroom flat in Wimbledon.
Due to the Cambridge Analytica case, this is no longer possible within a tick of a box, and Facebook has become more restrictive for those with limited knowledge.
Someone who really understands how Facebook works and has access to the right tools can tap into a whole host of segments.
When it comes to creating an audience in order to promote your estate or lettings agency, there are a number of details you need to consider. You are looking to target your ideal clients who are people based on your customer avatar or buyer’s persona.
You want to be targeting your content to the right people, otherwise you would be wasting your money.
The Facebook ad manager creation tool is, again, the place to customise your target demographic based on these options.
Another good tip is to use your previous sales data to find out where people, who move to your target area, have come from and make their postcodes the focus of your ads.
You also have the option of setting the time of day your advert is displayed. This means that if you are aware that your target audience uses Facebook between 6pm and 9pm, because they have full-time jobs, your ad spend will not be wasted by displaying the campaign when your audience is not online.
A particularly useful feature is Facebook’s ‘lookalike audiences’ facility, which allows your ad to appear in front of users who share your previous customers’ traits.
You can choose a lookalike audience similar to your Facebook page fans, your customer list or your website visitors.
You’ll need to install a small piece of code, the Facebook pixel, onto your website to use this facility.
How Much Does It Cost to Run Real Estate Facebook Ads?
Facebook allows you to choose from a daily or a lifetime budget (across the whole campaign). Decide your maximum spend and start with a small proportion, so you can check how well your posts are performing before allocating more money to the campaign.
Whether you choose a daily or lifetime budget, Facebook does a lot of the work for you, optimising your spend to achieve maximum reach and clicks for your advert.
Your campaign content
There are several options when considering the content of your campaign, but you need it to be visual and arresting. Single image ads are effective and easily constructed but make sure you use a high-quality, powerful image.
Video is becoming increasingly crucial to marketing in real estate, so don’t ignore this medium, which can boost click rates dramatically.
Facebook video ads are a great way of showcasing properties - or use 360 video so prospective buyers can take their own tours of a home. Just make sure your video complies with the settings in your Facebook ad manager tool.
Another option is the carousel post, which can show several images of a property, or a number of properties, at once.
In terms of text, start by keeping things simple. Facebook gives you recommended character counts; 25 characters for headlines and 125 characters for body text in an image ad.
Stick to these to avoid losing a chunk of copy at the end.
A good approach is the foolproof formula of pain point + solution + call to action.
Want to advertise your agency on Facebook but not sure where to start?
Grab our Facebook ad templates and formulas to help you create all your future ads in minutes. (Just copy, paste, personalise and you are done)
How to track leads on Facebook
The important thing to remember about your Facebook campaign is that you need to measure the impact of your spend and adjust what you’re doing in terms of what works.
A good way of monitoring leads is to install the Facebook pixel, mentioned earlier, on your website. The pixel lets you track leads and conversions resulting from your ad.
Installing the Chrome extension “Facebook Pixel Helper” is a simple way to check if your pixel was installed correctly.
Want to know more?
If you’re new to Facebook ads, there’s quite lot to take in.
Art Division is a digital marketing agency that specialises in running Facebook campaigns for businesses that operate in the property sector.
To learn how you can maximise your social media advertising budget and generate more pre-qualified leads and enquiries, contact us at Art Division for help and advice.
Need help with your marketing strategy?
Book a free phone consultation.
Do Facebook ads work for estate & letting agencies?
When used correctly, advertising on Facebook can be very effective and can assist the lead generation from vendors, landlords, buyers and tenants. It's key to understand that Facebook si a social channel and you should treat it as such. It works best when looking to engage with more prospects and build a prospect list.
How do I target a vendor or a landlord on Facebook?
It is possible to target both vendors and landlords on Facebook, however you need to have a clear persona profiling before you set things up. Vendors are easier to target as you know the location they live in. Landlords are harder, as they usually do not live in the same location of their BTL properties so you have to be more crafty and use other metrics, such as interests and behaviour.
Why Facebook is the Best Platform for the Real Estate Industry
Vendors and landlords want to work with someone they like and trust. Facebook gives you a platform to demonstrate that you’re a great person and agency to work with. And it helps you demonstrate that others recognise this quality in you.
The Facebook Ad Manager allows estate & letting agents to target people not only in a certain city or town but also in certain neighborhoods where home values just went up and people want to sell. Target potential clients in over-populated areas where people are moving out of to have more space.