Facebook has launched its first ad product designed specifically for residential real estate brokerages. And Zillow is getting nervous.
“Dynamic Ads for Real Estate,”from Facebook 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 real estate product connects Facebook’s ad platform with a brokerage’s search data to understand a user’s preferences, then automatically shows that user relevant listings from the brokerage’s inventory. The ads are served on Facebook and Instagram.
“Real estate is an area we’re betting big on as a company,” Facebook’s real estate and financial services chief Keith Watts stated. “We think its content that consumers want to see.”
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