Facebook Ads for Real Estate: 9 Proven Strategies | Promodo.com (2024)

Facebook ads are strategically important for such a highly competitive niche as real estate. There are various reasons beyond that. Most importantly, a vast amount of your target audience is spending their daytime communicating on social media platforms like Facebook:

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Nonetheless, a lion's share of real estate players underestimates Facebook as a strategically viable ad resource.

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Today, we are sharing top industry insights into why Facebook ads are of crucial importance for boosting your real estate marketing effort.

Most importantly, our PPC experts have selected proven Facebook ad strategies. This is because ‘how to target Facebook ads for real estate’ is still an open question on today’s real estate agenda.

Why are Facebook Ads Effective for Real Estate

In 2023, the economic landscape affected the sectors experiencing year-over-year declines. Amid a fluctuating housing market, a reduced number of individuals engaged in property transactions, which resulted in falling conversions for real estate businesses.

Therefore, more and more realtors are leveraging Facebook as a powerful ad platform. It stands out due to its unparalleled array of rich, diverse, and deep ad targeting options. This strategic advantage alone surpasses Facebook over any other advertising platform.

Unique ad options enable real estate players to efficiently reach their ideal customers with a precision unmatched by any other marketing channel.

Facebook stands out as a powerful marketing channel where your prospects are not only present in larger numbers but also spend more time compared to any other platform.

The effectiveness of Facebook ads in real estate hinges on a well-thought-out strategy, consistent efforts, and continual adjustments to your campaigns.

How to Target Audience for Real Estate on Facebook

Targeting in Real Estate Advertising

Since 2022, Meta has cut off some Facebook ad-targeting options for real estate:

✅ Elimination of demographic targeting based on gender, age, education, and income

✅ Removal of certain housing and financial interests

✅ Behaviors are excluded from real estate and mortgage targeting

✅ Restriction on geotargeting to a minimum radius of 15 miles

✅ Exclusion of zip code targeting.

Despite these alterations, you are free to tailor your real estate targeting strategy by focusing on precise interests that feature your ideal target customer. We suggest betting on liked or visited pages by your target audience and related topics.

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‍Our expert says: Accurate targeting is crucial for the success of your Facebook dynamic ads for real estate, especially when your goal is to secure more seller listing leads and buyer leads. Targeting precision on Facebook will help you reach ideal prospects and turn them into qualified leads. Facebook's ad algorithm continuously excels to bring you optimal results. Anastasiia, Ilchenko, Senior PPC in Promodo.

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Facebook leverages extensive data sets by interests to target your potential real estate customers. The platform is well-equipped to recognize both online and offline activities of property buyers and sellers, including the frequency of their visits to specific sites.

The diverse data will help you identify prospects with a genuine interest in purchasing or selling properties:

✅ Individuals interested in Realtor.com, Zillow, Trulia

✅ Individuals interested in house hunting or first-time home buying

✅ Individuals interested in mortgage loans.

Facebook Ad Campaigns Targeting Traffic Objective

When opting for the traffic objective in Facebook ads, your campaign is strategically optimized to generate clicks from your ads to your designated landing page, app, or event.

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‍Our expert says that this ad strategy is most suitable for small-sized real estate business advertisers as it effectively attracts a higher number of visitors with a high potential to convert them into customers. Anastasiia, Ilchenko, Senior PPC in Promodo.

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So far, Facebook ads are showing an average cost per click (CPC) of $0.65 across the real estate industry. An all-industry CPC average in Facebook ads for traffic campaigns is $0.83, significantly lower than the average CPC of $4.22 in Google Ads.

The average click-through rate (CTR) in real estate is 2.45%. This is substantially higher compared to the all-industry average CTR of 1.51% in Facebook ads for traffic campaigns. Real estate rates among the industries with the highest CTR along with Arts & entertainment at 2.55%, and Restaurants & food at 2.29% accordingly.

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While CTRs differ across industries, successful Facebook ads necessitate impressive visuals as the proven way to attract the attention of a scrolling audience to your real estate offers.

As the traffic ad campaign objective is explicitly crafted to boost traffic, metrics such as cost per lead (CPL) and conversion rate (CVR) are not of strategic importance here.

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‍Our expert says: CTR gauges how often viewers click on your ad. Essentially, the CTR of your campaign reflects how far viewers appeal to and engage with your Facebook ads. Higher CTRs prove the quality of your real estate ad copies and creatives. Anastasiia, Ilchenko, Senior PPC in Promodo.

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Facebook Ad Campaigns Targeting Leads Objective

Facebook ads targeted at the leads objective generate leads by encouraging users to take action on your real estate website:

✅ Fill out forms

✅ Send messages

✅ Make calls

✅ Complete conversions.

When implementing a leads objective campaign, you will deploy Facebook Lead Ads. These ads incorporate prompts directly within the advertisem*nt to facilitate the collection of lead data.

Here are the latest CVR and cost per lead (CPL) real estate industry benchmarks for the Lead generation campaigns on Facebook:

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Our expert says: Facebook aims to minimize click costs. Nonetheless, leads objective campaigns across industries are showing a 66% higher CTR. Despite the higher cost, the audience targeted by lead gen campaigns on Facebook is way more effective for real estate businesses compared to the traffic objective ad campaigns. Anastasiia, Ilchenko, Senior PPC in Promodo.

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Along with arts & entertainment at $13.46, and sports & recreation at $15.33, Facebook leads objective campaigns in real estate entail the lowest cost per lead (CPL) at $12.43.

Top Strategies for Real Estate Ads on Facebook

While realtors are free to apply various targeting strategies and ad types in their real estate Facebook ad campaigns, you should well prepare in advance to save your ad budget.

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Facebook advertising allows realtors to opt for a variety of ad objectives tailored to each campaign. Align your real estate Facebook campaign goals with specific objectives and bidding strategies:

✅ Leads

✅ Traffic

✅ Awareness

✅ Engagement

✅ App Promotion

✅ Sales.

The platform fine-tunes real estate campaigns based on the chosen objectives and lets realtors attain strategic business goals:

✅ Generate both seller and buyer leads

✅ Boost attendance for open houses

✅ Reinforce your brand presence among potential homeowners, current homeowners, and real estate investors.

1. Make Your Ad Copy Transparent

Trust building is essential in the real estate business. Mostly, your prospects want to meet a highly trusted realtor experienced in local properties. Furthermore, they want to deal with someone who’ll ensure a deeply personalized attitude to their individual property needs and preferences.

Crafting your real estate Facebook ads, show realistic images, and be honest in your ad copy. Before someone clicks on your ad copy, they want to make sure they will get the same value in terms of:

✅ Location

✅ Rental price

✅ Square footage

✅ Number of rooms.

✅ Dates

✅ Facilities.

Build trust by providing your prospects with detailed property descriptions

2. Make Lifestyle Ad Creatives

Compelling creatives will help your real estate ads stand out with captivating creative elements.

Fill your property ads with stunning real estate imagery of the highest quality. With that, appeal to the lifestyles that feature your potential buyers.

Appealing to a desired lifestyle with powerful imagery will help you hook qualified leads.

3. Leverage Carousel Ads

This strategic approach will help you show multiple properties or their parts all at once. Facebook’s Carousel ad format is a perfect way to boost visual appeal. The option allows real estate advertisers to display images as a catalog so viewers can view multiple property images or listings.

By capturing a buyer’s eye this way, you increase the chances of hooking more real estate clientele.

4. Apply Video Marketing to Bring Your Properties to Life

Video marketing remains a largely underused technique in real estate. Some of your competitors achieved some 400% more inquiries for local property listings with videos.

Engaging videos will provide your prospects with a way more realistic look into the properties. By creating 360 videos, you’ll let potential buyers move around with their mouse just like they would tour the apartment and explore it in person.

5. Scale Your Ad Spend During Peak Times

Once in the real estate race, you’ll stick with the peak months when people have more cash in their pockets. This signals the market is ready to buy or rent local properties. Peak seasons provide sound selling opportunities, so be sure to show your local property listings to the right people on Facebook.

It may take you by surprise, but much of the property-selling business depends on weather conditions. There are warm climate markets like Miami, where the window of real estate opportunity opens in March. By contrast, the locations like Boston featured by harsh winters are dead by mid-to-late April.

So, plan your Facebook ad campaigns well ahead and allow a bigger budget behind your ads to penetrate a larger audience. This strategic approach will help you win local competition.

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6. Win People’s Trust with Testimonials and Reviews

While gaining people’s trust through your real estate ads is vital, make your happy customers do some talking about your services.

Customer testimonials and reviews play a core role in building trust, so incorporate them into your ad copy. The strategic approach will help you boost your brand awareness and position yourself as a reputable real estate venture.

7. Target Traffic Objective

Targeting the traffic objective, you directly prompt Facebook's ad algorithm to display your real estate ads and optimize them for maximum clicks.

You’ll save much of your ad budget by A/B testing your CTA buttons. This essential practice will help you enhance click-through rate CTR. Promote popular CTA phrases in your ad copy to boost engagement.

8. Target Leads Objective

Experiment with various form styles that will help you spot the most effective approach to maximize lead quality and quantity. The integration of conditional logic to Facebook lead generation forms will help you win more pre-qualifying leads.

Elaborate a clear messaging approach and articulate a desired action to make users click on your real estate lead ads. The more interest you spark, the more potential leads will know about your real estate offers.

Focus on click-through rate (CTR) as a useful measure of your lead generation success, though not as an exclusive one. There are other essential metrics to consider like the cost per thousand impressions (CPM) and cost per click (CPC) that will help you grasp a broader context beyond targeting the leads objective in real estate and making informed decisions.

Fill your ad copy with powerful words. Elevate your real estate Facebook ads with emotionally charged language. Crafting compelling ad copies will distinguish your real estate business from competitors and eventually boost your CTR.

Utilize reporting dashboards to track and measure Facebook ad metrics that are most relevant to your strategic real estate business goals.

Save your Facebook ads budget by tailoring your real estate audience targeting based on specific objectives.

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Our expert says: Target Facebook lookalike audience for traffic objective to introduce your business to potential customers. Alternatively, you may focus on specific email addresses or re-target users for the leads objective, as these audiences are already familiar with your real estate business and are more likely to convert into qualified leads. Anastasiia, Ilchenko, Senior PPC in Promodo.

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Experiment with ad scheduling and lifetime budgets to optimize cost management. Utilize ad scheduling with a lifetime budget. Rather than continuous coverage, you’ll better manage your costs by choosing specific days or times for your ad’s appearance.

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All-industry cost per thousand impressions (CPM) benchmarks:

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9. Bet on Facebook Ad Conversions

Ensure effective conversion tracking by fine-tuning your Facebook pixel on your real estate website. Clearly define the conversion actions you want to track to prevent any loss of conversion data.

Lay the groundwork for a high conversion rate by optimizing your landing page. Ensure a seamless and user-friendly experience on your Facebook ads landing page.

Integrate a cross-channel strategy by supplementing your paid Facebook ad efforts with regularly sharing organic posts on the platform. Extend your target audience reach by leveraging other social media platforms like TikTok and Snapchat. Deploy other digital marketing channels like SEO and search ads. A holistic marketing approach across various channels ensures a broader audience reach.

Leverage AI and automation options to streamline cross-channel campaigns. This will boost the overall performance of your ad campaigns to target the audience for real estate Facebook ads in line with your strategic business goals and marketing budget.

That’s much about detailed targeting Facebook ads for real estate.

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Our expert says: Successful ad campaigns on Facebook hang on three core pillars: (1) attractive image, (2) engaging offer, and (3) high-quality audience segmentation. Make your ads as interesting as possible for your prospects, provide a unique offer, and find your perfect audience. Regular tests of creatives and audiences will help you identify the most effective combinations. Also, along with conversions, pay attention to how the audience interacts with your ads: measure CTR, frequency, reactions, subscriptions, etc. This will help you assess the quality of your content and come up with the right conclusions. Anastasiia, Ilchenko, Senior PPC in Promodo.

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Best Facebook Ads for Real Estate

Emphasizing the effectiveness of Facebook ads for real estate, we decided to share our featured case study.

In 2020, our international client from the UAE, The Place Group, tasked us with establishing a wider presence in the commercial property rental market in Dubai.

The Client aimed to leverage various digital tools within the limits of their marketing ad budget. Our primary focus was on attracting relevant traffic and generating leads.

To meet these objectives, we incorporated Facebook ads by targeting specific professions, positions, and interests to engage lookalike audiences and implement remarketing strategies.

We focused on leveraging Facebook as a primary channel for identifying freelancers interested in co-working. Our approach involved precise targeting at freelancers, influencers, and creators. Additionally, we experimented with the audience of top managers and individuals who featured "real estate" as their employment.

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We meticulously configured location-based campaign settings to the client's preferences, which allowed us to target specific areas in Dubai with the most potential residents.

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Thanks to Promodo, we managed to attract new leads. During our cooperation, we continuously received updates from their responsive team. Madi Omarov Community Manager, The Place.

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Launch a Successful Facebook Ad Campaign with Promodo

Hot tips for Facebook ads will help you promote your real estate services. Promodo real estate marketing experts are right at hand to create and optimize your ad copies and run ad campaigns. We know how to maximize exposure and achieve your business success on the Facebook platform.

While there is no universal approach to the best Facebook ads for real estate, trust the experience and expertise of our digital agency to enhance your real estate business.

You may still wonder how to do Facebook ads for real estate. Relax and take your time for informed decisions while our PPC experts do all the groundwork for you!

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