DENVER (KDVR) — A new survey shows that more first-time homebuyers are turning to social media apps like TikTok and Facebook to find their dream home.
According to the survey conducted by Coldwell Banker, 59% of Gen Zers and 65% of Millennials say they expect good real estate agents to use social media to market homes available on the market.
“TikTok and Instagram are free. And it’s instant access. Instant gratification. And a friend told me yesterday it is the ultimate window shopping – oh my gosh – that’s going to be my next tag line on some kind of video – I don’t even know, but I’m going to use it somewhere!” Yvette Alexander, a Denver-based realtor said.
Like many other realtors, Alexander started using TikTok and Instagram to provide potential buyers with new listings and she also shares home-buying tips with consumers.
“For example, appraisals are such a big deal right now, but a lot of consumers don’t even know what an appraisal gap is. You know, they’re popular in winning offers. And so if you can put out a one minute video on what an appraisal is, what an appraisal gap is, why do you want to use it in today’s crazy market — and the features and benefits of that one thing then that could give a potential buyer confidence in reaching their realtor and talking about that,” she said.
Overall, the survey from Coldwell Banker found that older Americans expect realtors to use social media as a marketing platform also.
The data shows 58% of Gen Xers (age 42-57) and 60% of Baby Boomers (age 58-76) strongly or somewhat agree that they expected real estate agents to have a social media presence.