How To Set Up A Facebook Business Page For Real Estate

If you’re a real estate agent, broker, or manager, having a facebook business page dedicated to your real estate business is a great idea.

The main reason you want one is because Facebook works to generate leads.  Not only can you use it to create a network of prospects, clients, family, and friends that “like” you, but you can also use it for advertising on Facebook.

With over a Billion (yes, Billion) users actively using it each month, there are lots of people who are potential prospects for home buying and selling.

If you’re wondering how to set up Facebook business page so you can take full advantage of this audience, here’s the tutorial you’ve been looking for.

how to set up a facebook business page for real estate

Step One

Before you can set up a Facebook business page, you need to have a Facebook personal account.  If you don’t have that set up already, here’s how to do it.

Step Two

Head on over to https://www.facebook.com/pages/create.php so you can start your page.  You’ll have 6 different classifications to choose from.  As a real estate agent or brokerage, I’d recommend choosing the “Local Business” category.  Once you click that box, fill out the following info:

  • Choose “Real Estate” from the drop-down box.
  • Enter your business name.  Careful!  This will be the name of your Facebook Page.  It does not necessarily need to be the actual name of your business.  For example, you could name your page “Joe Smith, Real Estate Agent.”
  • Enter the rest of your contact information.

choose a facebook business page classification

Step Three:

Add the “About” section:

  • Type in “Real Estate” into the category section and then choose the most appropriate tag.
  • Add a few sentences regarding what your page is about.
  • Add your website, if you have one.
  • Choose a URL, which will be the web address of your facebook page (make it simple and short).
  • Click “save info.”

 

facebook page registration - about

Step Four:

Add a profile picture.  This is the main icon that will show up in the news feed.  An optimal image size is 180X180 pixels.

upload a facebook profile picture

Step Five:

Add your page to your favorites.  This will allow you to easily find your page in the left-hand navigation bar.

facebook registration favorites

Step Six:

Enter your preferred page audience.  You can add basic information such as location, age, gender, and interests.  I’d recommend adding the towns you service as the location.  You can consider targeting a certain gender, age range (if you tend to work with a younger or more mature audience), and adding real estate-related interests such as “zillow,” “trulia,” “real estate,” and/or other real estate interest topics.

audience preference for page registration

Step Seven:

Click on “About”.  At this point, you can then add more information under your page profile.  Although many of these fields will already be filled in, you can add additional information, such as hours, a longer description, and other items important for people to know.

page profile additional details

Step Eight:

Add a cover photo for you page.  If you don’t have one already, check out a free and easy tool like Canva that will allow you to create a Facebook cover photo with correct image dimensions of 851X315 pixels.

add facebook cover photo

Step Nine:

Add content to your page.  At this point, you have zero “likes” and no content.  So, add a new post to share information that you think people would like to know about.

Keep your content fresh, informative, and useful.  This means you should post at least 3 times per week and vary your content to be roughly 80% “non-sales” information (like community events) and 20% “sales” info (like your listings, open houses, testimonials, etc.).

When you post, consider what people would like to know about.  What images will appeal to them?  What local market stats might they want to know?  How can they be more informed home buyers and sellers?

Step Ten:

Now that you’ve got a completed page that looks great and has relevant content, you can start inviting people to your page.  Start with other agents in your office.  Next, ask people you know to like your page.  Third, ask your current clients and prospects to like your page.

Step Eleven:

Remember that a Facebook business page for your real estate business isn’t going to magically win you new clients just because you post new information about the local market.  You also won’t be a mega-agent just because you have a ton of Facebook fans.

What I’d recommend you do with this page is start running ads to get people into your “sales funnel.”  Yes, this process will cost some money, but it is the best way to make your Facebook business page generate legitimate real estate leads.

 

What Is A Facebook Custom Audience?

You can do some amazing things with Facebook Ads.  Of course, with any of our ads, our number one goal is to sell in one way or another to achieve a specific result.

What Is A Custom Audience?

One of the best ways that we can increase the effectiveness of our ads to maximize our results is to advertise to a group of people who already know who we are.  But how can we do that?  The answer is to use Facebook Custom Audiences.

So, what is a Facebook Custom Audience anyway?

facebook custom audiences

Well, it’s essentially a collection of people who already know us – or at least have a connection to us in one way or another.

Examples of people you already know in your real estate business that could be a Custom Audience are:

  • current clients you’re working with
  • past clients
  • prospects you keep in touch with
  • people you meet at open houses
  • contacts you get from your online lead generation activities
  • new people you meet at business-related social gatherings

The above examples are all groups of people who you likely already have some decent connection with and may have possibly even met with.

But what about lower-level prospects?  What about those people who have just come across you briefly online but haven’t made any real connection with you yet?  How can you use them as a Custom Audience?

Facebook is really helping you out here because they allow you to keep an “invisible list” of these people.  The way they do that is to allow you to add some special code to your website to keep track of visitors to your site.  You can even add this code to landing pages that may not be a part of your site so you can keep track of these people, too.

Why Are Custom Audiences So Important?

Custom Audiences are so important because they allow you to effectively and inexpensively reach the people who know you and are thus the most likely to do business with  you!

As a real estate agent, you’re busy with all types of activities trying to not only close existing deals, but also create new deals by staying in touch with people.

Think of Custom Audiences as the cheapest way to consistently and effectively be in front of people who are your next deals.  By automating ads that go out to these Custom Audiences and paying relatively little for them, you’ve got a reliable system of being top of mind that actually works.

Stay tuned for additional articles on Custom Audiences and how to integrate them into your real estate marketing…

 

What If There Are No Comps For My CMA?

Sometimes, you just can’t find many comparable sales for your comparative market analysis.  What do you do if you only find one or two or, worse, don’t find any at all?

Your best bet to find comps will be to start altering your search within geography and time.

comps comparable cma

Since location is a prime factor in value, you’ll first want to stay as geographically close to the subject property as possible.

So, for example, maybe you have a condo building or a specific neighborhood you’re researching.  If there’s not a good comp in that building or area within the last 3 months, stick to the same area, but start going further back in time.  Go to 6 months, 9 months, then to 12 months.

If I found a comparable unit in the same condo building as the subject that was 12 months old, my opinion is that this comp is more relevant than a 3-month old comp in a different condo building that was 7 blocks away.

For me, 12 months is about the maximum time limit that I will put into a CMA.  This time period will depend on your local market conditions, but I start expanding the geographic range if I can’t find anything newer than 12 months.

Going back to my condo building example, if it was the case that there was a choice between a 24-month old comp in that building or a 3-month comp in a different building, I’d now start using the newer unit as my comparable even though it wasn’t the same building.

Of course, I’d need to now start making adjustments for what is different about these units.  I need to compare not only location, but also bedrooms, bathrooms, square footage, garage space, and other relevant attributes.

Let’s say though that you’ve got a property that’s a single-family home in a subdivision with various home designs and layouts and styles.  If I didn’t have a direct comparison that was newer than 6 months old, I’d start considering similar, but different, styles of homes that were in the direct area instead of going back further in time to find the same exact home style.

I’d do this because a subdivision typically has homes that are relatively similar in price, size, and attributes.  Because a typical buyer isn’t usually dead-set on an exact style of home, you can substitute one 4-bedroom for another on a nearby block.  Although they’re not exactly the same, they could be substitutions for each other in a buyer’s mind.  Therefore, I’d pick the more recent comp as my primary gauge as long as they have some significant similarities.

Of course, determining value is both an art and a science.  Your own individual skill and expertise plays a big role here in determining what kinds of adjustments you should make and how you should apply them.

In the end, your approach should be to gather as much information as possible.  Once you have as many relevant data points as you can find, start sorting them to see what makes most sense in your exact situation.

As a summary, stick to nearby geography first.  Go back further in time, if needed.  If that doesn’t yield results, start expanding the geographic range you’re searching in and apply necessary adjustments to make them as equal as possible.

What would you suggest in this situation?  Would you do anything differently?  Leave a comment and let us know what you do when you can’t find a great comp for a new property you’re working.