Is it marketable?
Managing real estate agent live streams can be a good opportunity, especially if you love social media. There’s a recent push towards live streaming content by social media giants Facebook and Twitter. With millions of users on both platforms, it’s obvious that brands that can leverage the live video features stand to differentiate themselves from their competitors. While some real estate agents are using social media for personal reasons, few are using it for business. As a social media businessperson with a focus on live stream, your goal is to help real estate agents amplify their reach in order to increase calls for more information. The more people that can learn about a home for rent or sale in a city, the more likely an agent will find someone to close a deal with.
How do I make money?
Real estate agents need to focus on serving buyers and sellers effectively. As such, they may not have the time to build a social media live stream strategy. As a live stream business, you can manage the hardware, software, and other preparations needed to execute a high quality stream that can receive high engagement. If you’re starting off, you can probably charge $15 – $20 per hour, (excluding equipment fees and data usage) from preparing creative content to notify the agents social media followers, then filming the video, and finally reposting the content days or weeks later to re-engage followers. As you grow and become well-known for your services, you’ll be able to increase your rates. In fact, you might be able to up-sell social media management for company accounts.
What’s competition like?
Doing a few random searches online hasn’t yielded too many real estate agents with live streaming events in my city (Winning agent article on what some are doing on Facebook Live). The reason seems to be that most agents are still trying to catch up on social media. It might be a while before open houses are live streamed online in large numbers. A good way to contact potential clients would be to find active social media accounts online and then cold calling them.
Estimated monthly bootstrap expenses?
If you already have a smartphone, you’ll be spending less than $100 a month. The most important expense may be building a website and creating content to promote your services on social media. You might want to start off with the right equipment for high quality video streams. If so, you’ll want to purchase a microphone, stabilizer, and lighting. This may be an upfront investment of between $100 and $300. However, this can be easily covered over time by charging clients an equipment fee (same applies to data usage). Managing real estate agent live streams is hard work but it can pay off in the long term, as technological capabilities develop.