The Scary Speed Of Social Media Conversations (Eyejot & Twitter)

By
Services for Real Estate Pros with RealSatisfied

67% of all statistics are made up on the fly.

It may actually be higher than that, since I just made that one up on the fly. You get the point. This morning, I read a report on MarketWatch that struck me as more than odd. It struck me as misleading. So, I decided to use my EyeJot This! bookmarklet and put out a little video message on Twitter.

What you see below is the instant conversation that took place. It's best to read it from the bottom of this post to the top. And it illustrates a couple of things for me.

First, the speed at which conversations can move in the social media space is incredible. This bulk of this took place in a span of about 30 minutes and as I'm typing this word, it's still going on. (My apologies to those who might be left out below. I'm writing this quickly to further illustrate the point.) The speedy reaction to the assertion that "67% of all agents are now members of social networks" was almost 100% negative.

Second, in this day and age, if you put out a press release making specific claims you need to be prepared to defend it. Vigorously. In this case, I merely questioned the real estate professionals who use social media the most, those on Twitter. I don't know if any of the execs at Quantum Digital are engaging the real estate community on Twitter, but if they are not, it may further illustrate just how far off the 67% number may really be. As Teri Lussier points out below, how they conducted the survey and how they defined "social network" play a large role in how they got to that number. (Just as my use of Twitter ONLY severly skews this conversation!) Neither of those pieces of information are included in the press release, so we're all left to guess. Leave a void and it will be filled. Guaranteed.

What should Real Estate Brokers be thinking right now?

If I don't write this post, the folks at Quantum Digital probably never see that conversation.  So, Brokers, do you have any idea what conversations your real estate agents are having online? If not, you should. My bet is that a very high percentage of brokers are not actively engaged at all with the kinds of conversations, like this one, that are taking place almost every minute of every day in places like Twitter. And if the number really is as low as many state below, then, in part, the absence of a social media strategy at the broker level is to blame. That must change. Right now, the RE.net is talking to itself for the most part. And if social media is to provide the return it has the potential to provide, that also has to change.

Here's the conversation. Just the replies directed to me. Again, it's best to read it from the bottom up.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Groups:
Real Estate Trends
Social Networks
Twitter
Tags:
twitter
social media
jeff turner

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the flag to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the leaf to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Anonymous
Anonymous
Dana Ehrlich - Santa Monica Real Estate Agent / Keller Williams

I'm just beginning my adventure into social networking and I'm finding it rather exciting. Mainly because there is not another single agent (150, mind you)in my office that understands the power of the internet and how it will continue to change how we do business as real estate agents. Buyers don't need us to find them houses anymore. They need us to be trusted advisors to help them through very complex transactions. That's where social networking's true value is...in helping online consumers get to know us and trust us before they call us, and helping one another get to know each other. 67% is too high.

November 01, 2008 01:14 PM #36
Rainer
9,710
Bonnie Tegge
Prudential Towne Realty - Virginia Beach, VA

I have just joined Twitter. Ar-r-r-rgh! I have very little knowledge about this so, any of you AR's want to send me some tips? All I can do right now is post what I'm doing...could be fun to read, OR BORING!!

November 01, 2008 01:27 PM #37
Rainer
44,511
Ginger Wilcox
Trulia - Larkspur, CA

67% seems ridiculously high.  Brad Coys says 15% in San Francisco and I would agree.  Marin County even less and Brad and I are in one the social media capitals!  Having a profile doesn't mean anything,  engaging in social media involves participation- AKA being social.  I think Brokers are starting to think about Social Media strategy.  It is totally untapped right now.

November 01, 2008 03:24 PM #38
Rainmaker
1,511,347
John Novak
Keller Williams Realty The Marketplace - Las Vegas, NV
Henderson, Las Vegas and Summerlin Real Estate

According to REALTOR.org, NAR represents over 1.2 million members. My guess is that there are about 60-70,000 agents who are members of AR, which represents lestt than 6%. So does that mean there are another 700,000+ out there on other social networks that we don't know about?

November 01, 2008 03:55 PM #39
Rainer
19,016
Steven Ayres
Rocket 55 - Saint Paul, MN

this hilarious.  I completely agree with you on social media.  It has always been an overvalued medium for linking to customers.

my affiliates: DLP Lamps St. Paul Windows MN Auto accidents MN Web Design Minnesota Japanese Landscaping

November 01, 2008 04:47 PM #40
Rainmaker
695,856
Lanre Folayan
Keller Williams Capital Properties-Buy a home in Washington DC. Sell a home in Washington DC - Washington, DC
How much is my Petworth DC House Worth?

I dont know too many real estate agents in Maryland,Virginia and Washington DC besides the real estate professionals on Active Rain who are members of Online Social Networking sites. I am probably one if not the only active member of online social networking sites. So 67% is way too high. Honestly speaking I think it is at the most 8% even less than that people a lot of real estate professionals think it is too much time to be spending on the computer by being on social networking sites. Congratulations on the feature post. Have a great weekend.

November 01, 2008 05:32 PM #41
Rainmaker
95,994
Yvette Smith
LONG & FOSTER - Williamsburg, VA
Realtor In Williamsburg VA, Homes for Sale

HI JEFF!

Well, as for my managing broker, they don't get involved w/social netoworking at all.  The principal broker does dip & dabble in it.  I could say it's because they don't have the time, but I won't becuase that's certainly not it. 

I too have invited plenty of people to AR, and like Audrey said, they laugh, say they'll check it out and never do...their loss!

November 01, 2008 06:19 PM #42
Rainmaker
721,960
Larry Brewer
Benchmark Realty LLc - Nashville, TN
Nashville Real Estate

Jeff - I know that in my office of about 200, I may be the only one using it so far. I will talk about it in my blogging class next week, so hopefully a few more will be added.

November 01, 2008 08:56 PM #43
Rainmaker
83,340
Ken Asher
Nextage Pikes Peak Properties (719) 930-7817 - Colorado Springs, CO

Hello Jeff,

This may be off topic some what. I've been clicking on all the Eyejolt links but have yet to see anything. The pages always time out in Explorer and Firefox. Maybe I'm missing someting here.  Any insight?

November 01, 2008 08:58 PM #44
Rainmaker
853,642
Jeff Turner
RealSatisfied - Santa Clarita, CA

Ken, I just watched them all and you are the first to report this. So, unfortunately, I'm thinking it's probably something on your end.

November 01, 2008 10:38 PM #45
Rainer
118,479
Nannette Turner Saunders
Associate Broker Keller Williams Realty - Virginia Beach, VA
Hampton Roads, Virginia Beach

I know we are kinda slow on the right coast I am much more involved here on AR twitter and all the other social media media venues than the 700 + other agents in this area.  Guess there are about 50 some on AR and two that twitter in this area.  Fine w/me I've told them about it I'm not going to preach it to them. If they don't get it their loss.

November 02, 2008 08:15 PM #46
Anonymous
Anonymous
Anonymous

NO WAY! I just did a presentation at my office meeting (75 agents in the office) on social networking and all but a couple jaws were dropping. That # is way off.

 

November 04, 2008 05:35 PM #47
Rainmaker
74,021
Ronnie Margolis
Hawaii Life Real Estate Services, LLC - Kapaa, HI
Kauai Realtor - CDPE, ABR, RA - On Top of the Aloha Beat

Jeff, you always make web 2.0 new technologies sound soo exciting. Wish i could attend your panels. Hopefully I'ff find remnants here and there. Aloha from Kauai...

November 04, 2008 10:58 PM #48
Rainer
3,038
Rochell Heininger
Yellowbook - Pittsburgh, PA

Hey Jeff!  I think Mark Twain said, 'there are lies, damn lies, then there are statistics', or something to that effect.  Interesting experiment.  You might have left out a decimal, 6.7% would be more like it, IMO.  Take care.

November 05, 2008 09:56 PM #49
Rainmaker
229,703
Troy Erickson
Diverse Solutions Realty www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

I'm not sure of the percentage, but know there are a few out there that are active in my area, but not many.  We once had about 50-60,000 agents, but I think we are down to only about 40,000 now.  Out of them, maybe 50-100 are real active in the social networking.

November 09, 2008 01:30 AM #51
Rainmaker
52,864
Stefan Swanepoel
New York Times Bestselling Author & International Speaker - Ladera Ranch, CA

Good stuff Jeff. If you will, please email me a one-pager with your thoughts on the recent and future changes of social networking in real estate for possible inclusion in the 2009 Swanepoel Trends Report.

Stefan

 

November 12, 2008 10:40 PM #52
Rainer
2,019
Luis Paez
QuantumDigital - Austin, TX

Jeff,  

 

I work for QuantumDigital so can provide a little more insight as to how the statistics that we're referencing above were determined.  I posted it on my active rain blog here:

 

http://activerain.com/blogsview/837391/Social-Network-Use-Among-Realtors

 

Feel free to send me an email if there are questions.  As I mention in there, I think a great follow up survey would be to list out all the individual social networks to get a sense of which ones realtors are using, and to what extent.

Luis

December 22, 2008 10:07 AM #53
Rainmaker
203,654
Castellum Realty Lancaster real estate
---Preferred Lifestyle Advisors--- - Lancaster, PA
homes for sale in lancaster county PA

Jeff Turner (google alert), you may want to check this post out. Since they've(AR staff) removed the points summary of people's profiles, that information is now broken or removed. 

Hope to see you around this network again soon. We miss your insight and experience in social media around here.

Sincerely, Active Castellum

February 26, 2009 01:06 PM #54
Rainmaker
853,642
Jeff Turner
RealSatisfied - Santa Clarita, CA

:) I'll be back.

February 26, 2009 01:55 PM #55
Rainmaker
340,047
Robert May
Verico Canada First Mortgage/ Rainbow Realty - Lethbridge, AB
Real Estate Expert & Mortgage Broker- Lethbridge

Reviewing some old featured posts i bookmarked.  Feel free to visit me back at my lethbridge real estate blog and leave me a comment to let me know you stopped by.

August 05, 2010 01:44 AM #56
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the computer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
853,642

Jeff Turner

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the truck to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: