Had a great Top Producer Collective call this past Monday and Maureen McGinley, a rocking San Francisco listing agent (hit her up at [email protected] with your San Francisco referrals), had a great question about whether a lot of agents are using Facebook ads to get listings.
And I mentioned that some agents are but to be careful.
Because using FB ads can bring you to financial ruin!
Ok, maybe a little melodramatic there, but there is a big problem I have seen with listing agents using FB ads.
The costs can be crazy high.
I know one agent I talked to in South Carolina recently and she was really impressed with the results she had with FB ads but then she realized that she had paid something like $800 for a couple of seller leads. That’s $400 a lead, way too high!
I am using FB ads now for EpicListingAgent.com and getting leads for around $7 a lead and I think that is way high and working on getting that lead cost down.
So you have to be, in my opinion, super smart about FB ads to find and set your target audience, find the best ad for you AND monitor the hell out of your results EVERY DAY.
It’s so easy to start an ad and wake up one day and realize you just spent $500 in the blink of an eye.
So if you’re going to use FB ads, really study what you should do, how you should put your ads together, how to target your audience and how to monitor it closely.
Otherwise, stick to the tried and true low-cost methods like calling your SOI, expireds, calling professionals, etc.