Facebook and Twitter Replace Craigslist for Real Estate Finds

With today’s omnipresence of social media, is it any wonder that people are turning to it to find their next apartment? Instead of sifting through listings on Craigslist, apartment hunters are now posting status updates to their Facebook and Twitter accounts to get the word out they’re in the market to buy, sell or rent.

Craigslist users have become skeptical of the validity of posts due to a variety of scams, bait-and-switches and traps, not the least of which being the Long Island serial killer who is yet to be found. Facebook, Twitter and other social media sites offer users what is perceived as a safer, more authentic alternative. If someone in your network is willing to refer a real estate broker, they’re putting some skin in the game–their reputation.

From a broker’s point of view, social media can be preferable to Craigslist for two reasons: it’s free, and leads may be better qualified. Placing an ad on Craigslist runs about $10 a pop, multiplied by however many times it takes to get a few qualified leads. And while Facebook groups and pages for real estate agents are providing more transparency to the consumers, they also have the tendency to generate more qualified leads for brokers, as people who are serious about a purchase are more likely to put it out there to friends instead of just surfing the web.

Source: The Real Deal

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