Paid Social Media Ads (for SELLING Real Estate): Do They Work?

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Hey all. I'm curious to get everyone's take on whether or not paid social media (SoMe) ads are an effective way to sell real estate? I'm fully aware this is a super difficult question to answer as there are a lot of factors to consider here: What type of real estate (e.g. luxury, foreign)? What type of seller (realtor, wholesaler, FSBO)? What specific SoMe platform (e.g. Facebook, Instagram, Twitter, Pinterest, etc)? All of these questions and more can drastically impact the target audience and therefore one's success rate (and therefore opinion) with using paid SoMe ads for selling real estate.

Having said all that, *IN GENERAL* do you believe paid SoMe ads work or not, and why? Feel free to touch upon your own experiences or what you've heard from others. I'm sure many of us will be coming from many different areas of real estate as well as geographic regions so it'll be interesting to hear everyone's opinions.

Also, if you're a believer in using paid SoMe ads, what's been the reason for your success? Too many times I've heard from people who say "If done right, SoMe ads can be very effective." Ok. But what does that mean? What does "if done right" look like?

Looking forward to getting this conversation going!