The Impact of Social Media Advertising On Real Estate Activities

ESV Frank Ewere Akpabor

In the last two decades, the global business community has witnessed a lot of changes in the areas of marketing and communication. The advent and continues growing of the social media apps has tremendously improved business, communications, media, marketing, and public relations across business. The real estate sector is one of the businesses that has benefited immensely with the growing wind of social media advertising and marketing. In the entire value chain of real estate activities, social media advertising has made huge, pervading, and growing impacts. Thereby changing the entire landscape of real estate and the built environment.

According to Stista, a leading global online research and data agency that reports on digital economy, social media advertising is a form of online digital marketing in which paid banner and video ad campaigns are run on social media platforms to reach the target audiences. On social media platforms, real estate brands can promote their products and services for so many benefits.
In the midst of the on-going economic crunch, social media platforms remain one of the cheapest ways of advertising and other forms of business promotions. Real estate brands should take advantage of these social media platforms for their advertising needs. To excellently achieve the use of social media tools in real estate marketing and advertising, the right technology and the right people must be deployed to maximize the full benefits.

Social media platforms abound, key players in social media advertising include Facebook, Instangram, Twitter, Tik Tok, and LinkedIn. For real estate social media promotions, each of these platforms has their own distinct advantages to must be leveraged on to maximize its benefits.

Globally, the market for social media advertising is huge, and real estate is among the sectors that are dominating this digital space. For property listing activities among developers, social media advertising like Instangram presents an excellent platform to showcase the new or renovated properties to the world, connect with prospects, convert them to clients, and maximize profit.

In some climes like India, Europe, United States, Japan and China, real estate social media advertising is maintaining exponential growth, and with strong potential to keep growing. Real estate operators in the United States (US) are equally spending huge on digital advertising. According to available statistics, the volume of the American total spending on digital advertising by 2029 will be up to $227bn.

In Nigeria, many professionals in the real estate space are yet to fully embrace social media advertising in their offerings and deliveries. However, worthy of note is the fact that most realtors and developers in the Nigerian real estate space are massively leveraging social media in their business operations.

The impact of social media advertising will continue to increase and the earlier the real estate industry professionals embrace it, the better for the industry and the economy at large.

ESV Frank Ewere Akpabor, a registered estate surveyor and valuer sent in this opinion piece from Benin-City, Edo State.