Social Media Impact on the Real Estate Market

Lagos, 21st February, 2014 – The world’s largest real estate player Lamudi revealed that social media generates up to 50 per cent of the Nigerian website’s traffic. In her talk at the Social Media Week in Lagos, Allie Morse, the CEO of West and Central Africa, pointed out that social media and mobile internet plays an increasingly important role in the future development of the country’s real estate market.
According to Morse, Nigeria already had 56 million internet users in 2012 with an average time of three hours spent on the internet. However, 61% of Nigerians access internet through mobile devices, which is the highest mobile internet penetration rate in Africa. When taking a closer look at their favorite activities during their online time, it becomes apparent that social networking is what engages Nigerians most of the time. Morse points out that media such as Facebook and Twitter are used for both, social and business purposes.

She commented that: “With the growing impact of social media here in Nigeria, we are offered a broad range of new opportunities. We can reach a lot more people with the aid of social media’s communication channels and methods. Nevertheless, we are focusing on targeted communication, as we believe that it is not about being everywhere, but about being in the right places with the right partners.”

However, I am convinced that in future, social media will be the key element to reduce the distance between our platform and its users. It helps us to identify the needs of our audience and to provide them with high quality content, which is by far the most important aspect to us.”

Whether looking for properties for rent or for sale, the internet platform enables customers to easily find or sell their house, apartment, commercial property or land online. At the same time, property providers and agents get a trusted online presence through a personalized webpage. Key characteristics of Lamudi are its diverse property offers, the intuitive website set-up and the high security standards to avoid fraud. The business platform operates under a high level of transparency through professional photos, updated listings, detailed descriptions, reports and rankings for 100% of its properties in each market. The Lamudi platform helps brokers to manage their inventory fast, easy and stress-free.

About Lamudi was founded in 2013 and is currently available in Algeria, Bangladesh, Colombia, Ghana, Kenya, Mexico, Morocco, Myanmar, Nigeria, Pakistan, Rwanda, Philippines, Saudi Arabia, Tanzania, Tunisia and Uganda. The real estate marketplace offers sellers, buyers, landlords and renters the ideal platform to find homes, land and commercialproperty online.

Source: Lamudi

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