Facebook announced upcoming ad policy changes that will comply with anti-discrimination laws and, believe it or not, it will have a direct effect on the housing industry in a number of ways.
"Facebook’s great strength is letting marketers be ultra-precise when targeting customers, but it recently changed its policy to avoid violations against anti-discrimination laws in housing, lending and employment," according to HousingWire.
"In effect, the limited targeting abilities makes branding more important than demand generation within the Facebook feed."
Industry experts like Joe Well, founder and CEO of Total Expert, a company specializing in marketing and customer engagement, told HousingWire that lender and Realtor activity on Facebook is geared towards building brand awareness and trust with customers. This way, it is easy to engage with your customers in the correct context.
Meanwhile, the publication also revealed that Facebook is going to start competing with Zillow. Facebook stated that it was building a tool to give consumers the ability to search for all current housing ads in the U.S.
"It’s a brilliant move by Facebook because it satisfies the law, drastically increases exposure of estate advertising for Facebook’s paying customers, and Facebook can probably raise prices of those ads over time," according to HousingWire.
Furthermore, the company is also looking to full encrypt all messaging activity, according to the report. The security and privacy that this move brings would allow consumer finance and real estate companies to view these interactions as compliant, according to the report.
To learn more about how the recent changes in Facebook's ad policies will affect the housing industry, click on the image above.