Facebook appears to be interested in entering the sales and lettings world with its first advertising product geared solely towards industry professionals.
The product - called Dynamic Ads For Real Estate - is currently being piloted in the US, and marks the first customised product from Facebook geared at sales or rentals.
US real estate and technology websites report that the tool requires integration with the estate agent’s listings data but then allows agents to advertise property listings on Facebook and Instagram.
Once the Facebook or Instagram user checks out a property listing on that social media platform, the Facebook technology then in turn checks to see if the user has visited the estate agent website that is marketing the home.
It will then take additional listings from the agency site to add to Facebook and Instagram to match the user’s preferences - so, for example, more homes with annexes or more homes with garages, if those are the preferences favoured by the user.
The US-based technology website Inman quotes Facebook’s real estate and financial services head, Kevin Watts, as saying: “Once it’s set up, it’s pretty much automatic. You don’t have to spend a lot of manpower to keep the system up and running.”
Last month Amazon posted a ‘Hire A Realtor’ web page - now deleted although you can see it here - within the Home and Business Services section of its US site.
If giants of the scale of Facebook and Amazon enter listings, it makes the current portal disputes look distinctly old technology...
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Such an important announcement.
Well, I found it interesting, as long as the listing fee is reasonable. If it is then it may cause the leading portals to reconsider their relentless price hikes.
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