The Real Estate Institute of Australia (REIA) urged market players and stakeholders to look beyond Facebook to reach consumers when the news ban on the social media platform between in force.
Adrian Kelly, president of REIA, said the organization is currently reviewing the situation and its impact on the industry as a whole. However, he said he was convinced that the real estate industry will always be able to find ways to reach consumers.
"COVID-19 has proven that real estate agents are very quick to adapt to new technologies and that will be the case in today's environment. As with COVID-19, for agencies and our customers, the show must continue, ”he said.
Facebook announced it would ban reporting on its platform in Australia in response to a bill that would require the social media giant to pay publishers for using their reporting.
Campbell Brown, Facebook's vice president for global news partnerships, said in a blog post that the law does not recognize the nature of the relationship between the platform and publishers.
"Contrary to what some suggest, Facebook does not steal news content. Editors choose to share their stories on Facebook," she said.
The ban affected major real estate portals, commercial media and real estate member organizations, which are now unable to post marketing materials after being labeled as "news providers".
Following the ban, Kelly advised officers to avoid posting links that would generate traffic outside of Facebook.
"Agents should be aware that the changes will impact all property social media campaigns as they are considered an information medium on the platform and therefore activity will be limited . "
Meanwhile, on the buyer's and seller's side, Kelly says they can register directly with their favorite sources of housing and property information.
"From a real estate sales perspective, buyers will go where the properties are advertised, which could ultimately be at the expense of Facebook," he said.
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