New Trend in Real Estate- Facebook Marketing!


A new trend in Real Estate is agents marketing properties through Facebook groups before posting on the MLS.

Currently brokers and agents in 13 markets are using private Facebook groups through to market new listings to other agents. According to Inman News, "Founder Frank Llosa, broker-owner of Falls Church VA based Frankly Real Estate Inc. hopes the network will attract 10-15% of all listings and thousands of agents in each market where it operates. Once the network generates some traction, Llosa envisions developing a consmer-facing website to house the network that would generate a referral fee if a buyer, who didn't already have an agent, came to the site and wanted to be matched with a member agent."

The idea is to generate a conversation about a property before it even hits the MLS, resulting in early showings and offers and leverage negotiation. In order to become a member of this group you first have to send a friend request to Llosa, he will confirm if the person is an agent before allowing them to join.
There are currently 13 metro areas participating in this exclusive Facebook group including Washington D.C., Virginia, Baltimore, Chicago, New York City, Boston, Miami and Orange County. The Virginia group is currently the only group which has enough mass to really allow the process to work. The group posts approximately 15 "coming soon" properties a day and two deals have been completed in network so far.
at the NAR midyear meeting in May, "he's worried about the effects pocket listings could have on the industry." Llosa argues that allows agents to market their listings to other brokers and thinks it is more related to off MLS listings than pocket listings.

So what should we take away from this? Make sure you do your homework, pre-listing on Facebook might work for you and your clients and it might not. This could allow for additional marketing or a "sneak peek" into a house to generate some buzz before it hits the market resulting in more interest. Some clients might not be interested in this unique approach and would prefer their property go straight to MLS. Talk to your client and decide the best coarse of action for you.
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