May 23, 2018

A Place for Real Estate on Pinterest?

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A Place for Real Estate on Pinterest?

Photo-sharing site Pinterest announced last Wednesday that it would be adding a new kind of pin category to help people organize and explore places all over the world.

“We asked ourselves, how can we help people turn their travel inspiration into reality?” wrote product designer Justin Edmund on Pinterest's blog. “Place Pins were designed to combine the beautiful imagery of a travel magazine with the utility of a map online so you can share it with friends.”

Doing Business on Pinterest

The site already offers specific types of pins, including product, article, movie, and recipe pins to organize items added to any particular board. According to Edmund, there are already 750 million destinations pinned on the site. This new feature was introduced as a way for users to share places they’ve been to or would like to travel to someday. But could they also be places where they’d like to own a home?

According to the Wall Street Journal, the company has no plans to make this new development a part of its revenue generation through ad placements.

So, real estate agents shouldn’t necessarily factor Pinterest's move into their marketing budget for 2014. But an industry that knows the adage of “location, location, location” probably won’t stay away from this new tool for now. Real estate agents who are already active on Pinterest could use Place Pins to highlight attractions that make their market area especially appealing to live in. Architecture buffs could post a self-guided tour of historic homes on Pinterest, and link to it from their own Web site. And if clients who are relocating are coming in for the weekend, why not create a whole map of recommended restaurants and sightseeing locations for them?

Here’s how to do it, according to Pinterest:

"Creating a board of Place Pins is easy. Just select 'add a map' when you create a new board, or edit an existing board’s settings to add a map. After that, you can map all of your new and existing pins on the board to help plan your next adventure."

To help get you started, Pinterest has put together a board of examples from people and companies who are using the new pins in interesting ways.

Source: "Introducing Place Pins, for the explorer in all of us," Oh How Pinteresting! (Nov. 20, 2013) and "Pinterest's Newest Revenue Opportunity: 'Place Pins'," Wall Street Journal (Nov. 21, 2013)

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