August 20 2009

Women, Social Networking, and Homebuying

The notion that women tend to have the final say in homebuying decisions has become common knowledge in the real estate and home construction fields; if the findings of a new survey are any indication, this appears to have transcended into the social networking realm as well.

The poll, conducted by the social network ShesConnected, revealed that 59%  of its participants reported visiting their favorite social sites multiple times per day. Another group, totaling 14%, reported logging on to social networks on a daily basis. 

According to the research, the most popular sites included Facebook (83% of users are members), LinkedIn (73% have an account), and Twitter (55% have jumped on the bandwagon). MySpace, who once relied on the powerful female demographic popular, is only used by 41% of the survey respondents. Nearly half of the women polled (48%) reported belonging to four or more social networks.

How can this benefit women as homebuyers – or, as sellers? It seems that professional networking and staying up-to-date with friends were the most compelling reasons to visit social networks, according to the respondents. Also, many (79%) mentioned products and services, followed by finding deals and discounts (64%) important. Because all of these play into real estate transactions, it is possible for buyers and sellers alike to use social networking to their advantage.

Of course, the marketing side of social media is not without concern. While the vast majority of respondents were fine with social networks displaying advertising, more than four in 10 respondents said they would not be comfortable with the idea of their data being sold. So, those looking to use these networks for promoting homes for sale, etc. should do so with caution. Tech-savvy women can easily identify the fine line between keeping in touch and taking an unfair advantage; so, it’s important to know your limits and abide by them.

 

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