Facebook has launched a new ad platform allowing residential real estate brokerages to advertise directly to Facebook and Instagram users who have previously searched for properties on their websites. The product, Dynamic Ads for Real Estate, connects Facebook ads with search data from real estate websites to understand the user’s preferences and show them properties in which they may be interested. The listings will then show up in the Facebook and Instagram user’s newsfeeds.
Kevin Watts, Facebook’s financial services chief, commented:
“Real estate is an area we’re betting big on as a company. We think [it’s] content that consumers want to see.”
The new ad product competes against real estate company Zillow, which allows real estate agents to promote listings on its site. Zillow and Facebook formed a partnership in 2016 that allows Zillow Premier Agents to advertise on Facebook. It is not clear if this new ad platform will affect that partnership.
To learn more about Facebook Dynamic Ads for Real Estate, click here.