Facebook Ads for Real Estate in 2021 - The Do’s, The Dont’s & What to Look Out For

October 28, 2021

Facebook Ads for Real Estate in 2021 - The Do’s, The Dont’s & What to Look Out For

As a realtor, your time is precious. So with that in mind, let’s dive in.

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THE DO’S:

Run ads of specific listings and/or list of home ads to generate buyer leads.

Remember, about 35%-45% of buyers are also sellers!

So while getting buyer leads may seem a bit counterintuitive, this is a stable way to get consistent off market listings.

Plus, you’ll have a full pipeline of people who’ve experienced your incredible service, meaning you get referred out the wazoo once the campaign matures and you put through your first few deals, even if they happen to be buyers.

Did I mention that generally your cost to work a buyer deal is usually lower than your out of pocket costs to get a seller to close?

Don’t hate on buyers! You’re missing out on building your referral pipeline.

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Hire a call team to work your leads

As a real estate professional, your days get busy.

Whether you’re juggling phone calls between the loan officer, listing agent, title/escrow companies, your clients, running around town for showings or fixing up your new listing, often times things get set aside.

What we’ve seen with our clients is the first thing that gets de-prioritized is dialing through a lead list. Which makes sense.

Imagine walking into work every day and first thing having to make hundreds of phone calls on top of everything else you have to do. It’s human nature to de-prioritize that when you’re busy.

Instead, we recommend that if you’re getting online leads, then it’s best to hire a call team to work your leads, set appointments and send you live transfers. This way you know your leads are getting worked, even when you’re busy working on something else.

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Put 5%-10% of your ad budget into educational posts/videos.

Pretty straightforward stuff.

If your ad campaign is set up correctly, you should have a retargeting segment. You can use the educational content (blogs, short videos, reels) to warm up your audience before you retarget them with lead generation ads or even to keep your retargeting audience top of mind.

Have fun with this, keep it simple. Yes, a simple ‘three things to know before you buy your next home’ video/reel/blog works great for this.

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THE DON’TS:

Run Facebook Ads for distressed sellers.

Ever seen the ads saying ‘Need Cash Fast? We Buy Homes Here’.

Don’t run these ads.

Will you get leads? Yes, you will get an obscene amount of leads.

However, barely any will be homeowners and you’ll have a massive amount of people trying to get cash for nothing. It’s a whole mess.

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Run Facebook Ads for seller leads if you have a tight budget.

The fact is, seller leads average between $15-$40 per lead in most markets.

If you have a tight budget, running seller leads will mean that your database will grow way slower, meaning you won’t have as many overall opportunities.

And with similar conversion rates to buyer leads, you’ll basically end up with 40% bad data, 40% that you’re chasing down, <20% that you can actually communicate and once you add in all the no shows and people who aren’t serious, if you have a small list, the numbers get real tight real quick.

We recommend running buyer leads because on average buyer leads cost between $2-$6 per lead and you’ll grow a much bigger database of local people interested in real estate which allows you to play the percentages better.

Plus 35%-45% of buyers have a home they need to sell first, so hellooooo off market listings

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Don't hire an agency that doesn’t offer an ISA team or tech setup for your follow up.

This is the single fastest way you’ll get burned.

If you hire an agency that just dumps 50-100+ leads in your lap every month with zero tools, processes or teams available to help you activate these leads into real conversations, you’ll end up being overworked, de-prioritizing your follow up and getting mad the campaign didn’t work.

Instead, work with an agency that has a dedicated call team that sets appointments and transfers for you, so you can focus on what you do best, talking to real people and helping them reach their real estate goals.

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WHAT TO LOOK OUT FOR:

Agencies that don’t include tech setup or manage follow up to send you appointments/live transfers

See above. This is the fastest way to have a terrible experience with an agency.

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Agencies that charge Per Close if they don’t have a licensed realtor as a member of their corporation.

Pretty simple stuff here.

If you buy into their marketing gobbly gook and then you get audited for any reason, you will lose your license.

The agency will probably have to pay a fine too but…

…you won’t be able to work in real estate ever again, sacrificing millions in potential future revenue.

It’s not worth it, no matter how enticing their fee structure is.

PS most of them charge you a setup fee and a software fee that runs into the hundreds per month anyway, so you might as well hire an agency with a transparent fee structure that doesn’t have to hide the way they make money behind false promises.

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ISA teams that charge per lead.

This is a hidden cost that seems minor, until it isn’t.

At the core of this, you get penalized for a successful campaign.

If you have a campaign that’s getting you cheap leads and you have to pay the call team per lead, your campaign cost end up going through the roof the better your cost per lead is.

This doesn’t really make sense.

Instead, find a call team that charges a flat rate for having someone work your account. This keeps your costs low and doesn’t penalize you for a successful campaign.

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Got questions about how we help you get 8-15+ appointments/live transfers per month guaranteed? Book your onboarding call below.

To your success,

The Escrow Lead Team

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