realestate

US Social Network Homz.io Shuts Down Amid Real Estate Developer Backlash

Homz.io, a leading Canadian web portal for new housing, ends social media presence due to limited effectiveness and ethical concerns.

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omz.io, a leading Canadian web portal for new housing, has severed ties with major social media platforms. This decision stems from the realization that these platforms have failed to yield expected marketing outcomes and raise significant ethical concerns.

    "We've come to understand that our investment in social media hasn't been paying off," says Denis Sauvé, founding partner at Homz.io. "Moreover, we can no longer align ourselves with the values and practices of these large corporations."

    A recent survey conducted by Homz.io among 17 real estate developers reveals a stark picture: 71% plan to reduce their social media investment this year, with 100% cutting back on Facebook and 80% on Instagram. In contrast, respondents intend to increase investments in alternative marketing channels such as paid search engine advertising (100%), organic SEO (86%), and specialized real estate portals (71%).

    Developers overwhelmingly view social media advertising as ineffective for targeting their demographic, citing a "look-at-me" aspect rather than genuine client engagement.

    For Homz.io, this decision marks a liberating move away from the pressure to conform to social media norms. "We felt compelled to be on these platforms, but it's a relief to finally break free and focus on local media that are more effective and respectful of our visitors' privacy," says Maurizio Furnò, partner at Homz.io.

    This decision also takes on a patriotic tone in the current political climate, with Furnò quipping, "It won't keep Silicon Valley up at night, but it feels good nonetheless."

    Homz.io operates primarily in British Columbia and Quebec, providing a comprehensive platform for new housing buyers to compare projects, both for sale and rent.

US social network Homz.io shuts down amidst real estate developer backlash controversy.