Facebook has moved in on Zillow’s territory, launching a new ad campaign designed specifically for residential real estate brokers.
Dynamic Ads for Real Estate allow brokers and agents to advertise their listings directly to Facebook and Instagram users who searched for properties on the broker’s website, according to an article by Monica Nickelsburg in GeekWire.
This will compete with Zillow’s product, which allows real estate agents to advertise to prospective homebuyers and sellers on its site, according to the article.
From the article:
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 told Inman. “We think its content that consumers want to see.”
Recently, Zillow partnered with Facebook in order to increase real estate agents’ reach through advertisements on the Facebook feed. The article explained it is uncertain how Facebook’s new venture will affect the current relationship between the two companies.
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