Gen X is VERY MUCH using social networks. In fact, they are highly influenced by their peers input, which is why they buy brand clothes, higher end cars, etc (they are a very high debt generation). So I’d say you’re looking at the same venues for them.

As for Boomers, remember that they cover a wide range of ages – from 45 to 60/65. And there are plenty of 40-somethings and 50-somethings who run (and read) their own blogs, have Facebook accounts and use networks like LinkedIn to network for friends, and business professionals. Perhaps the “high end” of the Boomer age curve is a little less likely to use social networks, but from what we can tell, they have already transacted real estate an average of 3.3 times already. So that means they already know 3 agents they have done business with in the past. In that case, the “social networking” might just be an e-newsletter, email or a blog.

- Matthew

Thanks in advance for your input.

Prior to LinkedIn, I was marketing to agents through social networks for referrals. I haven’t mastered the MySpace or Facebook game yet, but I see a day in the near future where web sites will be obsolete and blogs will take their place.

ahhh, technology! Real estate is still a pc to pc (ergo face to face) business.

Keep up the great articles!

You are correct on two critical points:
1. We can’t dilly-dally on social networks. Most change has been HAPPENING TO REALTORS rather than them LEADING IT FORWARD. Too many REALTORS act as if these things “suddenly” appeared – iPods, video tours, blogging, social networks – even Blackberries (oh, my phone can get email? Gee….)

For more than two decades REALTORS have been letting OTHERS set the standards of performance; now they need to start taking it back. They can do this by quickly leading in social networking.

2. It has to be CONSUMER facing. It’s cool to network with other agents and brokers, but they don’t pay your bills! Look at my site: It’s fishing to the CONSUMER who for us is the broker and agents. Same has to be true of blogs by REALTORS and social network participation. Go where the NEXT GENERATION of buyers and sellers will be: that’s how you’ll be successful.

Keep up the great work, Brad!

- Matthew

I’ve been preaching over the last few months how our industry needs to embrace this concept of social networking. And that we must do so much more quickly than we’ve embraced technology shifts in the past. The social networking wave is building, and REALTORS need to be riding that wave now. For those that fail to get on board in the next few months, the wave will overtake them and leave them treading water.

Real estate professionals need to be participating in at least two consumer-facing social networks if they’re to be visible and relevant to today’s consumer. From my perspective, REALTORS should be on LinkedIn, MySpace and/or Facebook (networks with combined memberships of nearly 300 million users) in addition to their ActiveRain network. ActiveRain certainly has value in building your referral network and getting Google juice, but for those folks that tell me their social networking consists of a membership in (and rarely any participation on) ActiveRain, I ask them if they’d rather fish where the other fishermen are, or fish where the fish are?

Thanks for an excellent post Matthew. Looking forward to more great thoughts in the future.

Brad Hanks
“Connecting People With Success”

All of this comes during an economic downturn in which brokers are even less inclined to make the investments and changes necessary to be ready for the future.

Well< we will just keep doing what we are doing – helping brokers transform – and hope it is fast enough for those who really want to survive.

Best of luck!

Excellent! Well put (as usual). Marketing real estate is changing even more rapidly than the market is changing. There is no wonder why traditional print advertising is Dead and 5 year old internet strategies just don’t work anymore.