Is it still impolite to talk about politics? Maybe not, and social media expert Jessi Healey says talking about it might gain you more followers than you think.
At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.
It’s been said that you should never discuss religion or politics in polite company. However, it may be time to rethink that rule, especially for real estate agents navigating the digital age.
As professionals, most of us have been conditioned to shy away from topics like politics, especially on social media, which is often still seen as a social faux pas by many.
I wholeheartedly disagree with that take, though. It may feel like a safer option. After all, staying neutral on topics considered high-risk for heated conversations, like politics, religion and others, can cost you — or at least it seems to. But don’t let rage-filled comments fool you. Often, saying something controversial can pay off, believe it or not.
Time and time again, brands have taken a hard stance on a hot-button topic, and it helped them far more than it hurt them. If any old saying is right, it’s: “There’s no such thing as bad publicity.”
Small businesses and brands often feel those risks — and the payoffs — are for bigger brands. It’s different when operating with people you see and interact with daily. I won’t say that’s not true, but I think that’s exactly why talking about politics matters even more for small businesses. When people know you, what you say carries the gravity of your own personal integrity and matters much more to those listening.
Discourse about the world and community around us is a duty we all have, and the ability to have civil discourse is quickly disappearing, as almost everyone has certainly observed in this turbulent election year. Staying silent and ignoring the elephant (or donkey) in the room isn’t going to help; we need leaders, especially those on a local and community level, to lead and set the example for how to share thoughts and opinions without attacking others.
Why you should be talking about politics
It’s part of being authentic
In today’s noisy digital world, authenticity is crucially important. People want to know the real you and what you stand for. By sharing your political views, you show your audience that you are more than just a business — you’re a person with beliefs and values. This can create a deeper connection with your followers, who may share or respect your viewpoints.
You’ll gain more followers than you lose in the long run
Yes, you might lose followers who disagree with your stance, but those who stay or join you because of your views will likely be more engaged and loyal. They see you as a voice for their own beliefs and are more likely to support and promote your business. Plus, even negative comments can positively affect your reach on social media platforms, and more people will be able to find and follow you.
Learning to have civil discourse is everyone’s duty
Engaging in political discussions is a great way to model and encourage civil discourse. It’s important to show that people can have different opinions and communicate respectfully. Doing so contributes to a healthier public dialogue and demonstrates leadership in your community.
Most people like to do business with someone making a positive impact in the real world around them, and they will not only endorse with their dollars but also recommend brands they believe in.
How to talk about politics
Share your genuine opinions as a leader in your community
People respect leaders who are honest and transparent. Sharing your genuine opinions can help establish you as a thought leader. Remember to present your views in a way that invites dialogue rather than conflict.
Educate your followers on how politics can affect them and change their life
Politics impacts everyone’s lives in various ways. By educating your followers on these impacts, especially concerning homeownership and real estate, you provide valuable information to help them make informed decisions. Focus on how policies and political changes can affect your community and the future of the real estate market.
Be the local expert and focus more on local politics
National politics can be polarizing, but local politics often directly impact your community and business. Position yourself as a local expert who understands and can explain the intricacies of local political issues like zoning, property taxes, schools and roads. This can help you build credibility and trust within your community.
Don’t forget about the Code of Ethics
Always be respectful, and never attack or shame a political opponent, especially their supporters. Civil discourse should be your goal. Always keep the Realtor Code of Ethics in mind. If expressing your thoughts or opinion can be viewed as discrimination against someone else, skip it. Disrespectful comments or personal attacks can tarnish your reputation, alienate potential customers and jeopardize your career. Stick to the issues and focus on constructive dialogue.
Talking about politics on social media can be a powerful way to connect with your audience and demonstrate leadership. Discussing politics, especially at the local level, can uniquely position a real estate agent as a trusted community leader and local expert.
By being authentic, focusing on education and maintaining respectful discourse, you can navigate these conversations successfully and potentially gain more engaged and loyal followers.
Jessi Healey is a freelance writer and social media manager who specializes in real estate. She can be found onInstagram, LinkedIn, or Threads.
At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.
It’s no secret thatsocial media can be bad for your mental health. Countlessstudies, and likely your own experience, can attest to the fact that lots of social media exposure leads to feelings of depression and anxiety.
This can be compounded when stressful industry or world events fill up newsfeeds, especially in an election year.
As professionals, most of us must use social media; it’s often vital to a business’s ability to generate and nurture leads. There are also many personal reasons to use social media; it’s a great way to keep in touch with friends and family, and staying away for too long might mean you miss big news in your loved ones’ lives, especially those far away.
How can you use social media and protect your mental health?
Thankfully, there are many ways to safeguard your mental health while using social media. It is important to remember that it is a tool; therefore, it is a good servant but a terrible master.
Time management
Time limits
One of the most effective ways to manage your social media use is by setting time limits. Many smartphones have built-in features, like Apple’s Screen Time, that allow you to set daily limits on your social media usage. Social media platforms themselves have also started adding a screen-time monitoring feature within the app; Facebook, Instagram and TikTok all have reminders you can use to help monitor and limit your screen time.
By restricting the amount of time you spend on these platforms, you can reduce the risk of falling into the endless scroll trap. A few other helpful apps to assist in taking control of your screen time and time spent on social media are RescueTime, Freedom, Flipd, Forest and more. With so many options, find the one that works best for you.
Scheduling tools
For those who use social media professionally, scheduling tools like Hootsuite, Buffer, or Loomly can be invaluable. These tools allow you to plan and schedule your posts in advance, reducing the need for constant check-ins and helping you maintain a healthy balance between work and personal time.
Batching content
Another strategy is batching your content creation. Set aside a specific time each week to create and schedule all your posts. This not only streamlines your workflow but also minimizes the daily pressure of coming up with new content.
Outsource
If managing social media is taking too much of a toll on your mental health, consider outsourcing some or all of it. Hiring a social media manager or using freelance services can alleviate the burden and give you more time to focus on other aspects of your business or personal life. Services like Fiverr and Upwork make it easy to find someone to give you a little relief.
Curate your feed
Liking
Make a habit of liking content that brings you joy or adds value to your life. By engaging with positive and uplifting content, you can train the algorithm to show you more of what you enjoy, creating a more pleasant social media experience.
Blocking
Don’t hesitate to use the block or mute functions on social media platforms. If someone consistently posts content that negatively impacts your mental health, it’s OK to remove them from your feed. Your mental well-being should always take priority.
Scrolling on by
Not every post requires your engagement. If you come across something that doesn’t serve you or brings you down, simply scroll past it. You have control over what you choose to interact with.
Balance
Prioritize content with purpose
Be intentional about the content you consume. Follow accounts that inspire you, educate you or bring you happiness. Prioritizing content with purpose can make your social media experience more enriching and less draining.
Ask yourself what you want social media to do for you: enrichment, entertainment, learning, breaking news or something else. Whatever it is, set your intention and stick to it, and you’ll have a useful and enjoyable feed.
Take breaks
Regular breaks from social media are essential for maintaining mental health and well-being. Whether it’s a digital detox weekend or a daily break from screens, giving yourself time away can refresh your mind and reduce stress. These breaks help prevent burnout, improve focus and foster a healthier relationship with technology.
By stepping away from the constant barrage of information and notifications, you allow yourself to reconnect with the present moment, engage in meaningful offline activities and ultimately enhance your overall quality of life.
‘Touch grass’
This popular phrase emphasizes the importance of spending time in nature. Physical activity and fresh air can do wonders for your mental health. Make it a point to regularly step outside and engage with the natural world instead of the digital one.
Tend to your mental health
Above all, prioritize your mental health. Practice self-care, whether that’s through meditation, exercise, hobbies or seeking professional help if needed. Remember, social media is just one part of your life, and maintaining a healthy mind is crucial to your overall well-being.
By implementing these strategies, you can use social media in a way that benefits you without compromising your mental health. Social media is a powerful tool; with the right approach, it can serve you well without becoming a source of stress and anxiety.
Jessi Healey is a freelance writer and social media manager specializing in real estate. Find her onInstagram,LinkedIn, orThreads.
Q1 2024’s real estate earnings are in. CoStar and Rocket Mortgage excelled, while RE/MAX and Opendoor face challenges. We’ve compiled the key highlights in one place. Here’s what you might have missed.
At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.
The first quarter of 2024 brought varied results across real estate and related sectors. CoStar Group stood out with a 12 percent revenue increase, fueled by Homes.com’s strong performance, indicating solid demand for online real estate services.
In contrast, RE/MAX saw its revenue decline for the seventh consecutive quarter, although it did better than analysts expected. These outcomes underscore the unpredictable nature of the market, influenced by shifting consumer behaviors and corporate strategies.
Companies like Matterport and Opendoor are tweaking their strategies to meet market needs elsewhere. Matterport reduced its losses significantly just before being acquired by CoStar, hinting at possible improvements under new leadership.
On the flip side, Opendoor faced a revenue decrease and higher losses due to a slow transaction period, reflecting challenges in the iBuyer segment. Meanwhile, Rocket Mortgage showcased robust profit and revenue growth, demonstrating the strength of its business model.
This financial performance snapshot reveals how companies are adapting to continue thriving in a fluctuating market.
CoStar Group, based in Virginia, reported a 12 percent increase in revenue to $656 million for the first quarter of the year. Despite the revenue growth, the company’s net income dropped 91 percent from $87 million in the first quarter of 2023 to just $7 million this quarter.
According to founder and CEO Andy Florance, the growth was largely driven by their residential portal, Homes.com, which contributed $40 million in new bookings. The company manages a diverse portfolio of 15 commercial and residential real estate brands.
Matterport reported a net loss of $36 million in the year’s first quarter, marking a 36 percent improvement over the previous year. The company’s earnings showed a modest revenue increase of nearly 5 percent, totaling $39.9 million for the quarter. This performance comes as Matterport continues its expansion efforts and moves toward an acquisition by CoStar.
RE/MAX Holdings reported a revenue decrease of 8.3 percent to $78.3 million in the first quarter of 2024, surpassing analysts’ expectations, which had forecasted a 9.5 percent drop to $77.26 million. This marks the company’s seventh consecutive quarter of declining revenue.
The earnings update follows the recent leadership change, with Amy Lessinger succeeding former President and CEO Nick Bailey. Lessinger, a veteran within the company, will report to RE/MAX Holdings CEO Erik Carlson.
EXp World Holdings announced its first-quarter earnings for 2024, highlighting a key statistic: a decline in agent count. As of March, the company had 85,780 agents, marking a 2 percent decrease from the previous year. This number also represents a drop from the 87,515 agents recorded at the end of the fourth quarter of 2023, continuing a downward trend from the 89,156 agents reported in the previous quarter. This recent report confirms eXp’s first-ever quarter-over-quarter decrease in agent headcount.
Opendoor experienced a challenging first quarter with a significant downturn in its financial performance, as detailed in its latest earnings report. Revenue dropped to $1.2 billion, a 62 percent decrease from the same period in 2023, and net losses widened to $109 million from $101 million. The company sold only 3,078 homes, down 63 percent year over year, reflecting the impact of a tough real estate market influenced by high interest rates that deterred buyers and sellers.
Expedia Group, the parent company of Vrbo, met its earnings expectations for the first quarter of 2024 despite a slowdown in lodging bookings, challenges with Vrbo’s transition to a new technology platform and reduced marketing efforts. The company reported $21.0 million in total lodging bookings across all platforms, including Expedia, Vrbo and Hotels.com, marking a 4 percent increase from 2023. Revenue for the quarter reached $2.9 billion, an 8 percent increase from the previous year.
Rocket Mortgage is making significant strides in its bid to become the nation’s largest mortgage lender, experiencing robust growth in the first quarter. According to a parent company Rocket Cos. report, purchase loans and refinancing saw double-digit increases. The Detroit-based lender also saw substantial financial improvement, generating $291 million in net income, a notable recovery from the $411 million net loss in the same quarter last year. Revenue surged 107 percent to $1.38 billion.
Anywhere, a major real estate franchisor, reported stable revenue in the first quarter of 2024, with figures holding steady at $1.1 billion, similar to the previous year. According to the company’s announcement, this consistency in revenue was attributed to an increase in home sale transactions, which balanced out declines in relocation revenue.
Offerpad reported a significant drop in revenue for the first quarter of 2024, with earnings falling to $285.4 million, a 53 percent decrease from the $609.6 million reported in the same period in 2023. Despite this decline, the company managed to significantly reduce its losses, cutting them down to $17.5 million from $59.4 million a year earlier — a 71 percent improvement.
Additionally, Offerpad increased its home acquisitions, purchasing 806 homes compared to 364 in the first quarter of 2023, though home sales decreased to 847 from 1,609 in the same period last year.
Airbnb’s revenue rose to $2.14 billion in the first quarter, marking an 18 percent increase from last year, driven by strong travel demand and the early timing of Easter. The company’s profit surged 126 percent to $264 million. Despite a slower growth in nights booked and gross booking value, up 9.5 percent and 12 percent respectively, Airbnb continues to expand rapidly in the short-term rental market.
Despite challenges in the housing market, Compass reported a strong first quarter in 2024, with revenue reaching $1.05 billion, a 10 percent increase from the previous year. The company attributed this growth to a 7.1 percent rise in transactions, outperforming the broader market, which saw a 3.5 percent decline in transactions.
Compass also achieved positive free cash flow for the first time in a Q1, totaling $5.9 million. This achievement suggests that Compass may be on track to meet its annual goal of positive free cash flow, a target it missed last year.
Move Inc., the parent company of Realtor.com, reported a 6 percent decrease in revenue to $132 million for the fiscal third quarter. News Corp, which owns Move Inc., attributed the decline to higher mortgage rates and other economic challenges. Real estate revenues, making up 80 percent of Move’s total, fell by 5 percent to $105.6 million.
Despite these setbacks, Realtor.com saw a 4 percent increase in lead volume, marking its first annual growth in two years. However, web and mobile traffic remained stable, with 72 million average monthly unique visitors. Meanwhile, News Corp’s digital real estate services segment performed well, with a 7 percent revenue increase to $388 million and a slight 2 percent rise in EBITDA to $104 million, despite higher marketing expenses and currency fluctuations.
Blend Labs Inc., a cloud banking software provider, reported a faster path to profitability with significant improvements despite a revenue decline from its mortgage customers. A $150 million cash boost from Haveli Investments helped Blend become debt-free and achieve its best quarter ever for free cash flow and operating income. Despite these gains, the company posted a $20.7 million net loss for the first quarter, which is an improvement over the $66.2 million loss in Q1 2023.
Revenue decreased by 6 percent to $34.9 million, but Blend cut its operating expenses by 49 percent to $39.3 million. While revenue from consumer banking services rose 29 percent to $6.7 million, revenue from title services and mortgage lending services declined by 12 percent and 15 percent, respectively.
The Real Brokerage, a cloud-based real estate company, experienced a significant rise in revenue, reaching $200.7 million in the first quarter of 2024, an 86 percent increase from the previous year. Gross profit also surged by 92 percent to $20.8 million. Additionally, the company set a new record for recruitment, adding over 3,000 new agents, which boosted its total agent count to 16,680, marking a 67 percent annual increase.
Redfin continued its strong performance from the previous quarter into Q1 2024, as reported in its latest earnings release. The Seattle-based company saw a 5 percent increase in revenue year over year, reaching $225.5 million and exceeding analyst expectations by $7.4 million.
Gross margins improved significantly, with a 22 percent annual increase to $70.8 million. Profits from real estate services rose 28 percent year over year to $20.3 million, with gross margins from these services also up 12 percent from the previous year.
Despite these gains, Redfin’s net losses expanded to $66.8 million, a near 10 percent increase from last year and a 65 percent rise from the previous quarter. The net loss attributable to common stock was $67 million.
LoanDepot, an Irvine, California-based mortgage lender, reported a 7 percent increase in Q1 revenue to $223 million and a 2 percent reduction in expenses to $308 million. Despite these improvements, the company still experienced a $72 million net loss for the quarter, a 22 percent improvement from the previous year.
However, LoanDepot’s first-quarter momentum was significantly impacted by a January cyberattack by the ransomware group ALPHV/Blackcat, which exposed the personal information of 16.6 million people. The attack led to $15 million in direct costs and an estimated $22 million revenue loss due to system downtime, including a 10-day disruption of a customer portal for online loan applications.
Doma, a title tech provider, reported a $20.6 million net loss in the first quarter, marking a 46 percent reduction from the $42.1 million net loss a year ago. Despite this decrease, the improvement was marginal compared to the $22.2 million and $20.8 million losses reported in Q3 and Q4 of 2023, respectively.
Although Doma is on track to improve on its $124 million net loss from 2023, the company’s accumulated deficit increased to $639.7 million as of March 31, following significant workforce reductions and the sale of its retail title operations over the past two years.
Zillow Group reported a successful start to the year, with a 13 percent increase in total first-quarter revenue, reaching $529 million. This figure exceeded the midpoint of its projected outlook by five percent. The company saw significant growth across its residential, rental and mortgage segments. The rental segment led in terms of percentage growth, with multifamily revenue rising by 46 percent, contributing to an overall increase of 31 percent in rental revenue, which totaled $97 million.
The mortgage segment also performed well, with a 19 percent increase in revenue to $31 million, primarily driven by a substantial 130 percent rise in purchase loan origination volume through Zillow Home Loans.
Jessi Healey is a freelance writer and social media manager specializing in real estate. Find her onInstagram, LinkedIn, or Threads.
