Facebook Launches New Real Estate Ad Platform
This past week, Facebook announced that it launched its first ad product designed specifically for residential real estate brokerages.
“Dynamic Ads for Real Estate,” first reported by real estate news site Inman News, allow real estate brokers and agents to advertise directly to Facebook and Instagram users who have already searched for properties on that brokerage’s website. The product goes after a key money-maker for Seattle-based Zillow, which allows real estate professionals to advertise to prospective home buyers and sellers on its site.
The new Dynamic Ad real estate product is served on Facebook and Instagram accounts and then the product automatically shows the user relevant listings from the brokerage’s inventory.
According to Facebook, they believe that the real estate ad market holds a great deal of opportunity which will function as a great content feed for consumers looking for real estate properties in a context they are familiar with.
There is one problem: in October 2016, Zillow also launched its new feature that permits its premier agents to advertise to Facebook users under a partnership.
Currently, Zillow is the number one real estate brand. Facebook is clearly looking to take greater control over this advertising nice, which promises only to get much bigger.