Real estate and social networking · real estate companies are those which give news about their sector. Only 45% of real estate companies publish news about the company itself over

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Real estate and social networkingThe new way of shaping professional relationships

Join the conversation on Twitter with

#Digimmo

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The study’s methodology01

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Methodology

Qualitative interviews with real estate professionals and experts

Conversation about their perceptionof social media’s impact in the real estate profession

Their professional and personal practices

Their views of the strategies in place

Survey of a sample representativeof the profession

An online questionnaire administeredto a sample of 302 respondants who declared to

work in the real estate sector.

18 questions + 6 screening questions(gender, age, region, line of business, profession,

position in the company)

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Quantitative survey

Sample of302 respondants

Average age45 years old

MEN38%

WOMEN62%

18-243%

35-4427%

55-6416%

25-3418%

45-5432%

65+4%

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Description of the sampleGeography

Alsace-Champagne-Ardenne-Lorraine 9 %

Aquitaine-Limousin-Poitou-Charentes 9 %

Auvergne-Rhône-Alpes 11 %

Bourgogne-Franche-Comté 3 %

Bretagne 4 %

Centre-Val de Loire 1 %

Corsica 0 %

Ile-de-France 28 %

Languedoc-Roussillon-Midi-Pyrénées 9 %

Nord-Pas-de-Calais-Picardie 5 %

Normandy 4 %

Pays de la Loire 4 %

Provence-Alpes-Côte d’Azur 14 %

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Participants’ profession

Line of business

MANAGERS21%

DIRECTORS27% EMPLOYEES

52%

ESTATE AGENT OR NETWORK50%

OTHER32%

REAL ESTATE PROMOTION15%

BROKERS

2%

TOURIST RESIDENCES

1%

Description of the sample

‘Other’ consists of:

HOUSING ASSOCIATION 14PROPERTY MANAGEMENT 10

PROPERTY 4SOCIAL HOUSING 4

SOCIAL LANDLORD 3CONSTRUCTION 3

PROPERTY TRADER 3LAWYER 3

DIAGNOSIS 2EXPERT 2

BUSINESS PROPERTY 2LEGAL PRACTITIONER 2

RENTAL 2SOCIAL 2

NB : only the responses with more than one respondant

are listed here (56/88)

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02 Real estate andsocial networking:The general perception

According to 58% of our sample, there is indeed a harmonry between the real estate sector and social networking. The 8 percentage point difference between "agree strongly" (14%) and "disagree strongly (6%) supports this tendancy.

Contrastingly, 31% of responants expressed that their profession is not particularly adapted to social networks.

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Real estate and social networking?

The real estate sector is particularly adapted to using social networks

11% 6% 25% 14%44%

I don’t know I disagree strongly I somewhat disagree I somewhat agree I agree strongly

59% of the professionals we asked felt that adopting a social media strategy gives real estate compaies a head start. The 8 percentage point difference between "agree strongly" (14%) and "disagree strongly (6%) supports this tendancy.

28% of the sample however do not consider social media strategies a competitive advantage for companies that have adopted one.

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Real estate companies that adopt a social media strategy are one step ahead

13% 6% 22% 14%45%


I don’t know I disagree strongly I somewhat disagree I somewhat agree

I agree strongly

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Social networking for professional purposes

ONLY PROFESSIONALUSE

14%

NEITHER

38%ONLY USED

FOR THE COMPANY

12%

PROFESSIONAL AND INDIVIDUAL USE IN THE COMPANY

36%


One in two real estate professionals are present on at least one social network and use it for professional purposes (50%)

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Social networking by real estate professionals

Professional use of at least one social network

TOTAL OR PARTIAL PROFESSIONAL USE OF AT LEAST ONE SOCIAL NETWORK50%

ONLY INDIVIDUAL USE

50%

Social networkingby real estate professionals

Ranking the usage of social networks

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I use it for professional purposes

I use it for both professional and pesonal purposes

I use it for personal purposes I don’t use it

LINKEDIN

VIADEO

FACEBOOK

YOUTUBE

TWITTER

INSTAGRAM

SNAPCHAT

PERISCOPE

OTHER

60%9%11%20%

70%6%9%15%

28%49%16%6%

35%55%7%3%

78%13%4%4%

85%13%

97%

87%

98%

11%

Social networkingby real estate professionals

Ranking the usage of social networks

• Facebook (22%), YouTube (10%) and Twitter (8%): the main social networks used for the responants’ professional purposes.

• Facbook is well ahead of other social networks: 12 percentage points ahead of the 2nd most popular

• Moreover, Facebook and YouTube are the respondants’ most used social networks whatever the context; whereas

Twitter, Instagram and Snapchat’s use is predominantly personal.

• BtoB function of Twitter and BtoC of Facebook• With 3% and 2%, Instagramm and Snapchat are rarely

used for professional purposes.

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61% of real estate professionals use social media to develop their network.

Following that, 47% and 45% of the sample used social networks for sharing and looking up information.

Just less than a third of the sample reported using social networks for exercising their expertise.

The commercial aspect applied to only 19% of the sample.

Social networking by realestate professionals

Reasons for using social networks

TO DEVELOP YOUR NETWORK TO EXERCISE YOUR EXPERTISEYES61%

YES31%

NO39%

NO69%

TO SHARE INFORMATION TO RECRUIT NEW CLIENTS OR PARTNERS

47% 19%53% 81%

OTHERTO GET INFORMED

45% 3%55% 97%

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Social networkingfor professionalpurposes03

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Social networkingfor professional purposes

Feeling confident about using social networks

When real estate professionals were asked whether they felt sufficiently competent on social networks, 64% reported feeling at ease.

21% of respondants indicated feelings of complete competence with their professional use.

In contrast, 34% reported feeling unconfident, 7% of which felt not at all competent.

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3% 7% 26% 21%43%


I agree strongly

49% of respondants consider social networks to be a means of improving efficiency at work. However, 40% of the sample do not think social networking improves professional efficiency.

As for the distraction posed by social networks, 12% of respondants feel as though they do not aid professional efficieny at all.

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Social networks are a means of improvingthe efficiency of my work

11% 12% 28% 9%40%


I agree strongly

One in two respondants (50%) feel that social networking is a factor improving their company’s business.These results, with the results of the efficiency question, demonstrate this sample’s clear level of professional engagement.

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Social networks are a lever for the company’s business

12% 11% 27% 11%39%


I agree strongly

For the respondents, social networks are a real plus on a networking level: 63% felt that the networks offer new possibilities for professional contacts.

Only 27% of the sample felt that social networks do not offer new possibilities for creating professional relationships.


I agree strongly

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Social networking is a professionaland inter-personal facilitator

10% 4% 23% 10%53%

81% of the sample felt that social networks are a new tool for work.This new work tool is however proportionally less perceived as a way to improve professional efficiency or the business

and, to a lesser extent, the professional relationship.

This gap can testify to the not yet met expectations of using social networks professionally.


I agree strongly

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Social networkingas a new tool for work

2% 3% 14% 25%56%

04 Social networkingby companies in the real estate sector

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48% of the real estate companies we asked are active on at least one social network.

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Social networking by companiesin the real estate sector

The company’s use of at least one social network

COMPANY USES AT LEAST ONE SOCIAL NETWORK

48%

COMPANY DOES NOT USE A SOCIAL

NETWORK OR DOESN’T KNOW

52%

Facebook is the most favoured social network by respondants’ companies: 35% of respondants.

LinkedIn was the next most used (20% of respondants), ap-pearing 5 percentage points ahead of Twitter (15%).

The sample remained farily split for the networks Viadéo, YouTube and Instagram, while Périscope and Snapchat are used only marginally.

FACEBOOKLINKEDINTWITTER

VIADEOYOUTUBE

INSTAGRAMPÉRISCOPESNAPCHAT

OTHER

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Social networking by the respondant’s company18%

25%

24%

26%

26%

24%

My company uses it and has an account or several accounts My company does not use it I don’t know

28%

26%

91%

47%

55%

61%

61%

65%

70%

71%

73%

8%

35%

20%

15%

13%

9%

6%

25% of respondants reported that their company uses social networks on a daily basis.

56% reported that their company posts at least once a week and once a month.

Several times a day 15 %

Once a day 10 %

One to five times a week 26 %

One to five times a month 26 %

Less than once a month 23 %

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How often do real estate playerspost on social networks?

yes No

Over social networks, the most frequently shared posts by real estate companies are those which give news about their sector.

Only 45% of real estate companies publish news about the company itself over social networks. This shows that interest for using social networks as a platform for communication is progressing for the respondants’ companies.


The kind of posts by real estate companies

REAL ESTATE NEWSCOMPANY NEWS

NEWS ABOUT SOCIETYLOCAL EVENTS

NEWS ABOUT THE COMPANY’S PARTNERS POLITICAL NEWS

OTHER

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27%

57%

62%

66%

77%

97%

97%

73%

43%

38%

34%

23%

3%

3%

yes No

REAL ESTATE NEWS

NEWS ABOUT THE COMPANY

NEWS ABOUT SOCIETY

LOCAL EVENTS

NEWS ABOUT THE COMPANY’S PARTNERS

POLITICAL NEWS

OTHER

While companies in real estate prioritise posts concerning the real estate sector, it’s first and foremost to get people to talk about them, the brand (71%), or the company’s products (57%).

Commerical purposes (43%) or expert positions (40%) are less pressing for the respondants’ companies.


The company’s aims throughusing social networks

29%

43%

57%

60%

84%

86%

98%

71%

57%

43%

40%

16%

14%

2%

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97% of real estate companies present on social media have a thought-out strategy.85% of the companies we asked favoured a strategy whereby the company speaks directly on social networks under their brand name.

The ambassador strategy, aiming to developing the company’s personification, is used by 48% of the companies we asked.


Strategies for speaking on social networks

Other(no strategy) 3 %

Brand ambassador strategy(numerous collaborators speak to personify the company) 12 %

Mixed strategy(brand ambassador and brand account) 37 %

Brand account strategy(The company speaks directly under their own name) 48 %

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It’s quite rare for companies present on social media to encourage their collaborators to use them for professional

purposes: 41% of the sample.There is little internal instruction.


Encouraging collaboratorsto use social media for professional purposes

28

NO

48%

I DON’T KNOW

11%

YES

41%

Among the companies that encourage their collaborators to be present on social networks, only 45% of them accompany

this encouragement with a training session about about social networks.

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Is the encouragement accompanied by a training session?

NO

55%YES

45%

Only 26% of real estate companies on social media follow the effectiveness of their posts and publications.

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Measuring effectiveness on social networks

I DON’T KNOW

37%

YES

26%NO

37%

Yes No

REGULARLY MONITORING THE PUBLICATIONS’ VISIBILITY

MONITORING THE ORIGIN OF NEWLY CREATED CLIENTS

REGULARLY MONITORING INTERACTIONS

REGULARLY MONITORING THE NUMBER OF LIKES

MONITORING THE NUMBER OF SUBSCRIBERS PER NETWORK OR PER ACCOUNT

OTHER

Monitoring companies’ social networking activity is mainly done by looking at indicators of publications’ visibility (73%),

individually monitoring contacts (62%) or interactions (62%).

27%

38%

38%

49%

57%

100%

73%

62%

62%

51%

43%

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Ways of measuring effectiveness on social networks

Qualitativeresults05

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RANGE OF DEFINITIONS FOR SOCIAL NETWORKSThe respondants, however, agree on the notion of a permanent link with their own professional community.

REAL ESTATE: A DAILY TOPIC OF CONVERSATIONThe success of social networks for real estate professionals rests on its conversational dimension. Real estate has always been THE current topic of conversation.

SOCIAL NETWORKS ARE THE EXPRESSION OF A NEW SOCIAL RELATIONSHIPSome professionals see social media as a virtual meeting hall. Social networks have just filled a missing space in real estate professionals’ chain of communication.

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Face to face interviews: qualitative analysis

REAL ESTATE BRAND STRATEGYThe need to distinguish yourself: social networks are more or less directly part of a commercial approach. They undoubtedly constitute a new way to make yourself known in an increasingly competitive market.

PERSONAL BRANDING AND CORPORATE COMMUNICATION:Social networking reveals a new way for brand and company communication to work with individual communication. Personal branding intervenes where the brand voice stops.

TWITTER, LINKEDIN AND FACEBOOK:These are the three most used social networking channels by real estate professionals. Two logics coexist. Firstly, communication of proximity, community animation that respondes more to real estate agents who invest in new territories and form a channel of empathy. Secondly is a more macro-economic approach to the real estate sector, whereby experts exert their influence in a BtoB function.


Social networks, business lever

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CHANNEL FOR INFLUENCETwitter’s technical function (algorithm), which leads to collecting a community of subscribers, responds perfectly to the need for personified expertise.

CHANNEL FOR OPINIONEach and every tweet implies "in my opinion". Even if the tweet is giving information, it above all indicates an endorsement or disapproval. It is directly used as a way to question public powers about sensitive issues concerning real estate. It’s also the "unhappy counter" that catalyses criticism and resentment.

CHANNEL FOR PRESENTATIONIn the BtoB real estate community, Twitter also aids the formation of new contacts and the ability to stay in contact with existing ones.


Twitter: expertise and influence

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WINDOW INTO THE BRAND:Creating and animating a Facebook page responds mainly to a new territory of expression which removes proximity. It combines teaching strategies which show what they are, what they do and what they sell.

A TOOL TO FEDERATE THE AGENCIESWhen we speak of agencies network, we get a glimpse into the function of getting people together that Facebook plays for the real estate major players. In this sense, Facebook can be a managerial lever and alignment in a network.

A TOOL FOR STRATEGIC TARGETINGMany professionals highly value the features of Facebook’s targeting tool. They both retain and enhance the posibility of precicely targeting their audience.


Facebook: the window into targeting

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REGAIN INTERESTThe experts we asked were in agreement that LinkedIn has recently increased in popularity. LinkedIn covers fields of corporate communication (brand pages) as well as the expression of individual expertise.

A MEDIA POSITIONINGThe respondants recognised the social network’s recent rise in power, and that is has gone beyond its initial target domain, human resources. Experts are seeing more and more opportunities in groups specific to their sector and in other experts’ publications.

THE NEW "PULSE"Speaking of evolutions, the new PULSE option, which allows you to express your expertise in the form of an opinion column, is recognised as a qualitative and influencial lever for BtoB communication.


LinkedIn: professional expertise

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Although at this time Instagram is rarely used by real estate professionals, certain experts see a promising future for this social network due to its aesthetic vocation. More than the other networks, it prioritises the aesthetics of the real estate sector (images of the surrrounding area, the atmoshere, countryside etc). It almost has a magazine function.


Instagram

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ESTATE AGENTS ARE CHANGING THEIR FUNCTIONWe are witnessing a transformation in the relationship between estate agents and their clients. Personal branding reinforces this and in certain cases, the estate agent takes on the role of the area’s referent; they’re not only in charge of the sale (or the lease) of a property, but also everything that comes with it: information about the life, the area, transports links, useful information etc.

THE TEMPORALITY OF THE RELATIONSHIP IS EVOLVINGFrom a specific service provider, the real estate agent goes to a support before, during and after the sale. The ability for them to build, animate and win the loyalty of a community relies heavily on trust.

THE COMMUNITY’S ANIMATION:In the age of social networks, the tools at estate agents’ disposal are therefore multiplied. Photos of sales contracts, tip exchanges, codes for Twitter, Facebook or even Instagram obey the logic of continuous community animation.


The estate agent at the heart of its ecosystem

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THE COMPARATIVE APPROACH:Real estate experts highlight the role of digital technology in the development of buyers’ comparative approaches. This systematic look for comparison accents the need for expertise, for knowledge of the market, and for qualitative insights. In this context, social networks are the perfect place for experts.

THE NEW ENTRIES:The space left by former real estate actors on social networks has favoured the emergence of new actors. Already formatted around web codes and integrating from the beginning all the issues specific to new methods of communication, the these actors are evolving at the same time as the medium onto which they are difusing their information. The actor and the medium therefore act more as a single issuer.


Transformation of the profession

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06 Transversalfindings

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• One in two professionals is currently present on at least one social network for professional purposes.

• Facebook is the most used social network by real estate companies (35%)

• With 31% of real estate professionals using it for professional purposes, LinkedIn is the most used network for individual purposes.Twitter, a channel for expertise, is used by 15% of them.

• The use of each of these networks responds to different or complementary objectives. They contribute to a strategy as well as an attitude (visibility and establishing a relationship).

Transversal findings

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• Social networks meet professional utility: they are percieved as a new work tool by 81% of the respondants. 49% of them found social networks interesting in terms of improving professional efficiency and performance.

• 39% of professional social network users are believe that they are beneficial to the company’s business as well as to themselves. Sceptics represent 18% of the sample.


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• The increased relationship: Nearly 60% of professionals believe that the real estate sector is particularly suited to using social networks. They are often the starting point for professional conversations which then extend into "real life". This increased sociability and proximity via social networking is strongly highlighted by real estate experts.

• Developing professional networks is cited as the main objective for real estate professionals. 61% use them to develop their network. As professionals, it’s the ‘networking’ dimension to social networking that interests the participants.


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• Real estate companies favour the "media" dimensions of social networks. Chiefly present on Facebook (35% of them), they mainly publish sectoral news (73%) or news relative to the company (35%) with the aim of gaining territory or commincating about the brand: for 71% of them.

• The notion of ‘social networking strategy’ is shared by 97% of the sample: if the brand account is essential, a mixed strategy is put in place, which is equally supported by collaborators and ambassadors.

• Encouraging, teaching and measuring performance on social networks remain to be progression zones, clearly identified in real estate companies.


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Contact Pierre Négrier or Laurent de Védelly for any question regarding this study

[email protected]@happycurious.fr

Contact for Pierre et Vacances Property InvestmentBéatrice Judel, Marketing and Communication Director

[email protected]

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This study was conducted in March / April 2016 for

Documents

Real estate and social networking · real estate companies are those which give news about their sector. Only 45% of real estate companies publish news about the company itself over