Social media yet to find property buyers
Buyers aren't embracing social media quite yet when it comes to property purchasing.
Estate agents are increasingly using social media as another way of marketing their property listings, but buyers are sticking to traditional means of research.
PRDnationwide research found only 10% of buyers said they would be more attracted to a property if it were marketed on social media, such as Facebook or Twitter.
Some 76% replied they were not more attracted to a property marketed on social media.
It was an "unexpected" result, according to PRD research director Aaron Maskrey.
"More agents are using social media to gain buyer interest in their listings, but it seems buyers prefer traditional methods of marketing," he says.
Maskrey suggests the impact of social media on the real estate industry will change and is likely to grow as the younger and more technologically savvy generation enter the property market.
Maskrey says social media is quick and cost-effective, but the benefits are still unknown.However, he believes there is space in the marketing sphere for more than agent websites, print advertising, boards in front of homes and open-for-inspections.
"But it's yet to be seen if using social media to promote properties will lead to more sales," he says.
