Brokers lag real estate's social media nous

by Mackenzie McCarty05 Apr 2012

Mortgage brokers are falling behind other related professions such as real estate agents in their use of social media, according to a former broker and IT specialist.

Dean Lynch, now an IT sales manager at Australia Wide IT and an avid social media user, said the industry was currently lagging compatriotrs in the real estate agent profession.

“I look at all the people I am connected to, and real estate agents tend to be using it very well, but brokers are not really using it at all," Lynch said.

Lynch suggested that it could be that real estate agents are often younger than brokers, and are better at educating their employers about the platform and realising they need to be in that space.

"Brokers employ older people, who maybe are not as in touch with it,” he said.

However, Lynch said the lack of industry take-up meant there was opportunities for growth.

“There is so much more they could be saying, or doing to educate and engage their clients, such as setting up events – but I don’t see that at all,” Lynch said.

“With so many followers on Facebook, it is where you need to be. With that age bracket growing up now, if you want to engage and market to them, you need to be where they are," he said.

Formerly a broker, Lynch said he first got into social media when he hired a 'kid'.

"I hired an assistant straight out of school,” he said. “When she came on board, she showed me what was going on, where younger customers were engaging, and it seemed if I wanted to access active first homebuyers and those looking to save, I needed to be in that space.”

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  • by Rach 5/04/2012 11:27:49 AM

    Just be careful what you say on Social Media brokers - Some aggregators are watching, as are lenders, and threatening to remove accreditation for anyone having the audacity to voice their concerns over poor service...

  • by Positive Broker 5/04/2012 1:28:11 PM

    Any comments on Social Media should be thoughtful and positive. If you are having a "whinge" you probably deserve all you get. The best way to address poor service is to discuss it with the provider or change providers. I agree with Rach.

  • by Paul Gollan 5/04/2012 2:17:05 PM

    Well said Lynchy (formally one of AMBs finest brokers). The opportunities provided by social media particularly Facebook are quite staggering. I have not written a loan for 12 years but have had no less than 8 Facebook friends PM for home loan advice in the past few months. All successful brokers, business owners in fact tend to be good at networking. Facebook is networking on steroids and businesses that understand how this medium can be used to get in with the large number of people networking within GROUPS on FB will generate amazing results. In fact I am pretty certain some new breed broking brands / businesses will pop up in the times ahead with social networking / community engagement as their central lead generation strategy. There is a reason companies such as Aussie and CBA Business Banking have been spending so much money on attracting LIKES to their FB pages recently....They get it.