Abstract

The study delved into the influence of social media on real estate marketing in Akure, Nigeria. It examined how the use of social media platforms affects the marketing strategies of estate surveying and valuation firms in Akure. A structured survey was conducted among the 32 registered estate surveying and valuation firms in Akure. The data was analyzed using principal component regression to assess the impact of social media on real estate marketing in terms of market expansion, content creation, communication, and strategic targeting. The findings revealed that social media significantly enhances market expansion, efficiency, communication, relationship-building, and strategic targeting. However, the study found that content creation alone has less impact compared to other factors. The research emphasizes the multifaceted role of social media in real estate marketing and advocates for integrated strategies that leverage its communication and targeting capabilities. The study suggests that real estate professionals in Akure prioritize effective communication, strategic targeting, and market expansion using social media. The findings indicate that social media could help bridge information gaps and improve access to real estate transactions, thereby enhancing efficiency and inclusiveness in market practices. This study contributes to the existing literature on the specific impact of social media on real estate marketing in an emerging market context and offers practical guidelines on leveraging digital tools for such contexts.

Key Words: Communication Strategy, Marketing, Market Expansion, Principal Component, Regression, Real Estate, Social Media, Social Networking