Do Tech Savvy Agents EARN more?

Find out how much the top 5% of Real Estate earners spend on Technology and Social Media.

Inman News in the US conducted extensive research in early 2014 into the relationship between employment of new technology, frequency of social media use and realtor incomes. The survey found that there is a strong co-relationship between earnings and the money and time agents invest in technology and social media.

Though in Canada such survey was not conducted, the corelationship between income earned and the use of technology and social media, the outcome would likely follow the same pattern.

Below is a summary of the survey result:

  • The survey revealed that 83.6% of middle income agents earning between $50k and $100k a year spent less than $2500 per annum on social media and web technology.
  • Over 50% of high earners with more than $100,000 a year incomes spent $2500 or more on social media and out of pocket technology.
  • About 63 percent of high-income agents said they spent $5,000 or more per year out of pocket on marketing.
  • Among the highest-income agents (those making $200,000 or more per year), 42.4 percent spend more than $20,000 per year on marketing.

Which bracket would you rather be in?

This survey pointed to a strong correlation between money spent on technology, social media and money made in return. The survey also noted that the time spent on social media sites each month was also related to the end of year ROI.

The main takeaway from the survey is that the more successful agents spend more energy and money on social media to develop an online presence. More agents with more social media channels were found in the high income bracket than elsewhere.

The same report found that the internet was one of the top three methods of generating sales, suggesting those realtors who did exert an effort on social media are more likely to do well.

The study concluded that a massive 79.8% of sales people using social media outperformed those not using social media. For high performing sales personnel, social media users were 23% more likely to exceed sales targets than those who didn’t use social media.

Resources are available to help you

The Use of technology and social media help to increase the earning of agents who are seeking out the business opportunity online. For agents in the lower to middle income brackets they should seek ways to tap into business opportunity by maarketing their services using the internet.

The fact that one in two of the big earners (those taking home $100,000 or more per year) make multiple blog and social updates each week speaks volumes.Following their example and eking out some time every day to spend nurturing a social media presence has the potential to turbo charge earnings.

Just don’t have enough hours in the day? Or unsure how to monetise Twitter and Facebook and follow in these pro footsteps? It’s time to call us (James Wong) at 604-721-4817 to have a chat. We’ll update your internet presence and social media business pages to tap into a whole new world of opportunity.

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