The impact of social media on home-buying decision

The millennial generation runs by social media. Who could have thought that a platform that was once used to share family photos and memories and connect with friends can have such an impact on human life! The impact of social media on the present generation is so strong that it has become an essential bit in the decision-making process. Besides honest customer reviews to starting a movement even, social media has made its presence known. However, instead of delving deep into the detailed impacts of social media on human life, let us discuss how social media is influencing purchase decision of a potential home-buyer.

The real estate market has experienced a recent boom and there are hundreds of real estate builders trying to make a mark in the industry.  But the smart generation tends to assess different factors before deciding on that one home for a lifetime. Recent research has revealed that 44% of the modern generation contemplating to buy a property makes the decision based on social media reviews and rankings. 90% of home buyers research online extensively before discussing with family on what property to buy.

Also Read: Factors to consider while buying a property

Over the years, research has shown how social media platforms help users connect with friends and acquaintances, follow ongoing trends and learn product reviews and information. There are a number of social media platforms people use these days to conduct thorough research about the real estate market before taking the plunge of buying a property. Let us read on to find out the social media influence on customer purchase decision.

Facebook

Undoubtedly, one of the most powerful social media platforms globally, there are about 300 million Facebook users alone in India and is expected to rise by an exorbitant number of 444.2 million by 2023. It is considered a very potent social media platform to impact decision making among buyers. Almost every real estate company has their facebook page where they keep posting details of their existing, ongoing or upcoming project that gives the buyers a picture of what the house will look like and how it feels to stay in that space. The FB page also posts about amenities that are characteristic to the property. In addition, posting about special discount offers and prices during the festive season keeps customers engaged and also brings in new leads. Besides, homebuyers can also join groups related to a specific community and get timely updates on the development of the project.

Facebook is therefore believed to be one of the most reliable sources of research for potential home buyers and can be used as a great tool by real estate builders to generate leads.

Youtube

Being a visually appealing social media platform, YouTube has gained huge popularity among the masses in the last decade. Youtube gives a 360-degree virtual tour of the house or the apartment and the community they are going to stay in. Not just that, you also get to know the area of the property and the surrounding neighbourhood. These days, most real estate builder & real estate developers upload professional videography or a 3D animated video to give the consumers a virtual tour of the property. This way consumers get detailed information about the property in a visual presentation.

Also Read: Understanding Home Loans, Interest rates of banks & How to avail home loan | Honer Homes

LinkedIn

Marketing real estate with the help of a social media platform is a common trend now. Though facebook or youtube have gained a lot of popularity among prospective home buyers, LinkedIn is often underestimated as an appropriate tool for real estate advertising. Used mostly to update professional status and to search for jobs, India has around 54 million LinkedIn users. For a first-time property buyer, LinkedIn can be a great platform to know more about the ongoing trends of the real estate market and everything related to it. They will also get to know about upcoming real estate projects and find something that will meet their needs.

However, for a real estate company having a robust LinkedIn profile will help build credibility and trust about the brand among customers. Describing the background and future prospects of the company are great if publishing on the LinkedIn page. Additionally, adding videos regarding the details of the property will generate potential leads. Social media is, therefore, a great way to boost real estate marketing.

Instagram

With more than 75 million users in India, Instagram is an ever-growing community. Realty sector owners use Instagram as a platform to directly communicate with the customers and post details about the living space and its amenities in pictures and short videos. In addition, ideas on how to make the space look beautiful and appealing are also displayed on Instagram.

Also Read: Vaastu Tips for Buying an Apartment | Vastu Tips for Home | Honer Homes

Twitter

Twitter is one of the most undervalued social media platform when it comes to real estate. But with its optimum use, Twitter has the potential to be a powerful media to influence real estate purchase decision of customers.

In India, there are about 35 million Twitter users and the number is progressing every day. Twitter is a news-focused social media platform and much fast-paced compared to FB or Instagram. So you can consistently post news about the property, its construction status, some information about the neighbourhood (relevant info customers would be interested in), connect with other like-minded business or even post news about the ongoing real estate trend. Being a real estate builder, you must first build a loyal following before pitching in your business details and getting new customers.

Pinterest

If pictures attract you and influence your decision to buy a property, then you might want to connect to the Pinterest page of the real estate company. These pictures are pinned on board and linked back to the listing to help homebuyers look for properties in that area. The charming pictures not just help you get an idea on how to stylize your home but also give you an idea of the amenities on offer and the location.

Besides Pinterest also gives you some basic tips and rules if you are a first-time home buyer. Having such knowledge upfront will ease the home-buying process.

Also Read: Benefits of buying a property in your wife’s name

How real estate presence in social media helps customers?

More than 90% of the world lives the virtual life and social media has a very important role to play in it. Sellers are making their presence known in social media to engage more with customers and generate leads and sales. The real estate industry is no different. Although still a novice in digital marketing, but the real estate sector is gradually finding a strong foothold in the social media platforms and engaging in strong digital marketing. Most of the established real estate builders are immensely active on social media, focusing on digital engagement with customers and marketing their business over a digital medium.

According to customer search behaviour over the internet, our online guide Google makes advertisements and posts related to our search visible frequently. Suppose, you have searched “2 bhk flats in Gachibowli” or “3 bhk gated community apartments in Gachibowli”, or “3 bhk apartments for sale in gachibowli’ it will show you pages and websites related to location-specific real estate properties. When you click on a website, Google will perceive it as a prospective customer showing interest in real estate (in this case) or any other product for that matter. The AI system of Google allows advertisers to narrowly target prospective customers and reach more relevant customers.

Also Read: Understanding Home Loans, Interest rates of banks & How to avail home loan | Honer Homes

Moving forward, after browsing through some real estate websites, when you ‘like’ or ‘follow’ a page suited to your preference on various social media platforms, these platforms like FB, LinkedIn, Twitter, Instagram will be flooded with related suggested pages. This is an advantage to you as you are now open to a number of options and choose the best from the same.    

However, as much as the social media has become an integral part of the real estate business, it is necessary that real estate builder / real estate developer/property builders always keep their social media platform updated because customers may be scrolling through their feed anytime. This way they can shortlist the project from the comfort of their home and get important information on projects without visiting the sites physically and wasting time.  With the presence of a call-to-action button on every post in the social media, buyers can connect to builders directly and get replied shortly. Even if you are not interacting with the builder on a regular basis, their social media accounts will give a regular update on every project details.

Also Read: Advantages of living in a Gated Community

Residential living has changed over the years and gated community apartments are the trend among modern home-buyers. Besides independent houses and stand-alone apartments, gated communities in Hyderabad have become a popular option due to the security and luxurious living standards.

For the best gated community apartments in Hyderabad, visit Honer Homes today and find the dream home for you and your family. It is your destination for an integrated gated community living. We are available on all social media platforms too. Connect with us on FB, Instagram, Twitter, Youtube, Whatsapp and Pinterest to get information about the project, insights into the real estate market and learn more about the latest trends.