Social Media

Correlation: Social Media & Income

Good morning everyone!

Within the next two days, you’ll see plenty of updates to the OREA blog as I’ll be live blogging from Inman Connect in New York.

Brad InmanBrad Inman kicked off the two and a half day conference discussing how quality matters.  With the disruption of the value chain in real estate, and in the age that we go directly to the customer via the internet, you must be agile and quick.  It is crucial to open up the social channels for feedback from clients and remember, your strategy is your service.

“Build your own brand, not someone else’s.”

Chris Smith and Katie Lance take the stage post Brad Inman.  They’re the hosts and moderators for the conference. Chris kicks it off by saying:

“The agents of tomorrow came to me with a message to give to you today.” – Chris Smith

Inman conducted a survey with 1500 agents in the industry that are making more than $100,000 to see what they are doing and what they want…

Here are some quick stats:

  • 17% aren’t coming to the office ever.
  • 83% of REALTORS® want brokers to communicate with them digitally.
  • 61% of agents working with brokers, are considering opening their own brokerage.

Now, when it comes to social media, quantifiable data has been missing when we’ve discussed it in the past.  Finally we have some quantifiable data to take a look at the benefit of social media with REALTORS®.

First of all, only 30% of all REALTORS® in the United States are using social media.  Also, the average income of a REALTOR® is around 34,000 a year.

The question: Is there a correlation between social media and the agents in the business that are making over six figures?  The answer, yes.

  • 75% of agents making over 100,000 have a Facebook business page.
  • Half of them have over 500 Facebook friends.
  • 30% have over 500 Twitter followers.
  • 69% of those agents are already on Google+ (one of the fastest growing social networks).
  • 81% of those surveyed have a YouTube channel they actively use for marketing.

Agents who are making a six figure income are early adopters of social media.  Now, does frequency of posting make a difference? 44% post once a day if not more…so, yes.

“Agents making over 100,000 are clearly embracing social media and doing so in a strategic manner.”

They use social media 3x more and make 3x more money.  With that said, as a broker, are you providing the training your agents want?  Well, in the survey, agents declared that the worst training they receive is social media training (it’s poor quality).  They would like to be trained properly in social media.

So, are you ready to learn more about social media and how to use it strategically?  Continue to follow along at

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