As much as I hate to admit it, TikTok and Instagram know me well. My feeds get flooded with new-to-market apartment listings and swoon-worthy townhouse tours—and I love every second of it. But this got me thinking: How is social media affecting the real estate market in New York City? After all, a lot of people scrolling aren’t real estate journalists like me. Many are actually in the market for a new home. And after speaking with some of the city’s top agents, it’s clear those videos and reels are making a huge impact on the market.
“Social media has completely changed how people discover real estate in New York,” Michelle Griffith, a luxury real estate broker at Douglas Elliman, tells 6sqft. “I can’t tell you how many times clients send me a screenshot from Instagram or TikTok and say, ‘Where is this building?’ or ‘I want that exact kitchen.’ It’s become the first stop for inspiration, and that definitely influences what gets attention and how quickly a property moves.”
Ruthie and Ethan Assouline, who head up the Assouline Team at Douglas Elliman, note that while, in the past, clients almost exclusively came through referrals or private networks, now they’re materializing via social media.
“We see clients at all price points who feel confident starting the conversation on Instagram,” they say. “They know what they like, they know who they connect with, and that comfort level translates into serious business.”
For example, the Assoulines share that a recent client reached out after comparing the online presence of different brokers on Instagram. The connection resulted in the $10 million sale of the client’s Fifth Avenue residence.
“One client reached out after watching a quick reel of a penthouse view we posted. It wasn’t even a formal tour, just a sunset from a balcony,” the Assoulines add. “Sometimes the simplest, most organic content is the most powerful.”
Griffith points out that social media opens up the New York City real estate market to those from farther afield: “I recently worked with someone who found a listing through an Instagram reel; they never would have come across it otherwise, and that post is what ultimately led them to buy in NYC.”
Agent Jules Garcia of Coldwell Banker Warburg highlights how social media has also created a more savvy buyer.
“It’s given those who have a needs-based interest in real estate a forum to follow pricing trends, inventory availability, design trends, exposure to local real estate experts, and even virtual open houses en masse,” he tells us.
“Locally, there are some great sites like @apartmentsnyc for agents showcasing some of their latest listings or upcoming inventory,” Garcia shares. “@tradedny and @daily3 are great for getting a sense of agents doing some notable or upmarket transactions.”
Of course, this trend isn’t without its downsides. As Garcia points out, the space has some bad actors who “list phantom/non-existing inventory or flat-out lie about the actual pricing of properties.”
“There’s also the content that’s really more entertainment than education (and should be labeled as such, much like ‘Paid Partnership’ posts),” he continues.
“Then there’s the content that feels like the agent is blurring—or outright dismissing—the lines of real estate in order to present themselves as a launching pad for a social media creator career. We’ve seen this so much that even the show ‘South Park‘ has done a whole parody episode on it.”
Additionally, brokers agree that social media has less of an effect on the ultra-luxury real estate market.
“Most of our high-end clientele do not want their homes splashed across the internet,” says agent Ashley Reidy Quinn of Coldwell Banker Warburg. “For example, they don’t want their personal photos or art on public display. And vice versa, they may not want to purchase a home that’s all over the internet — it can be a security concern.”
But at the end of the day, curating a strong presence on social media is a non-negotiable for most successful real estate agents, even if they don’t have 2.7 million Instagram followers like Ryan Serhant.
Take, for example, two of the agents who participated in this story. Michelle Griffith (@michellegriffithnyc) has nearly 16,000 followers, while Ruthie Assouline (@ruthie.assouline) has 11,500. And with TikTok here to stay, the trend is only going to grow.
RELATED:
Get Insider Updates with Our Newsletter!
