Thanks To TikTok Tours, Luxury Buyers Are Getting Younger
When leveraged correctly, social media can be a powerful tool for realtors to employ. Certainly, the prevalence of social media allows many people to reach newer and wider audiences in unprecedented ways. So it should come as no surprise that social media is increasingly being used to generate the interest of younger generations in the luxury real estate market.
Members of Gen Z and Millennials have been making waves as they continue to buy up luxury goods at a growing rate. Increasingly, this includes purchases of luxury real estate. Thanks to social media, consumers have the ease and the ability to find whatever they are looking for from the comfort of their homes (and on their phones). This phenomenon seems to have led to younger generations getting involved in the luxury real estate market.
But which social media sites are worth investing time in creating content for? Although “Facebook still reigns as the most powerful site to generate interest for properties,” Instagram, TikTok, and LinkedIn are also important sites that realtors should not overlook. TikTok in particular continues to grow in scope and reach, and can serve as a great way for realtors to get themselves and their listings on the radars of younger buyers.
Furthermore, with views on TikTok soaring for hashtags like #housetour (10.2 billion views) and #realestate (21.6 billion views), social media may become the predominant way in which younger buyers first view properties, and the days of in-person open houses could be numbered. Younger buyers are more likely to first preview homes on social media before scheduling any kind of in-person showing. Real estate agents will need to adapt to this changing trend. Those who do so successfully may find themselves selling multi-million dollar properties, thanks in large part to digital house tours.
Many agents are already embracing the TikTok tour trend and are establishing themselves with a younger crowd. Social media-savvy agents appreciate that they can film a single tour of a multi-million dollar listing, edit the tour, upload it to TikTok, and with that single tour reach thousands (if not millions) of viewers, many of whom may even be prospective buyers. TikTok also provides agents with the ability to spark interest and engagement on local, national and global levels. And let’s be honest - who among us doesn’t enjoy watching a well-done tour of a multi-million dollar home or penthouse suite? Certainly many viewers are admirers who may not be on the market. But the same is true of open houses. And as with open houses, putting together a great video tour is always worth the time, because often among the crowd of admirers the right buyer might be watching.