I love social media, I do...but social media "coaches" (I'm using that word loosely), guru's or anyone should not promise real estate agents that if they get a blog and do Twitter or Facebook, they'll attract buyers or sellers. It's not that easy.
Back to loving social media.
Social media has been very beneficial to my career and I'm grateful. I write all my own content and tweet my own tweets and update my Facebook status myself. You cannot farm your life or personality out to someone else. I don't believe that you can find success if you automate and outsource social media like a local title company is promoting--all you do then is increase "the noise".
If I were a real estate agent interested in growing my social media presence today, here's what I'd do. NOTE: this may or may not work for you...it's simply what "I" would do.
Get on Facebook. Facebook is about connecting with people you know. I have really enjoyed connecting with my clients. I do have a personal profile which I try to not have too much business on but my blog, The Mortgage Porter, does automatically post to it. I also have a professional page where I share articles that I find interesting (from newspapers, competitors--it doesn't have to be me). They're very easy to set up and manage from your profile.
I used Facebook's tools to find my clients, friends and family to connect with them. It's been fun to get to know my clients on a more long term basis instead of just when they need a mortgage...and they've been referring their friends and family to me too.
Twitter is questionable. This is just my opinion for folks who are getting started...I would probably stick with Facebook over Twitter as someone just digging into social media. Twitter has a lot of noise and in fact, it's simply "broadcasting" your message. Yes, you can have dialog but I think you have higher odds of "connecting" with people on Facebook.
If you are going to do Twitter, it's important to have conversations and be engaging. Attend "Tweet-Ups" in your area or create one (I recommend attending one first)! Twtvite makes it really easy to do--be sure to have other area "peeps" on Twitter help you coordinate this.
Yelp. I love using Yelp to find restaurants or services...I'm also an active reviewer. As a real estate agent, I would be reviewing neighborhood businesses and following up with the business owners to let them know you've reviewed them. You can also add your business on Yelp to be reviewed.
Do let your sphere knowthat you have a Facebook profile and business page and invite them to like or friend you. I would do this by all the mediums you currently use (newsletter, email, post cards, etc.).
Do take the next step beyond sitting behind your computer and blogging, updating, tweeting or yelping--get out and meet these people. There are a lot of great social media clubs where you can learn a ton and meet fellow professionals from all sorts of businesses. Check out Seattle Social Media Club and Tacoma Social Media Club's calendars just for starters.
I wouldn't do "everything"...and there is so much social media "stuff" out there...the latest and greatest something new is popping up everyday. You have to stay focused. You have to keep doing what works for your business and social media may or may not be it and that's okay.
PS: I'm not a social media coach...I'm not even an "expert"...I'm just someone who is passionate about social media who happens to be in the real estate biz and sharing my opinions. I highly recommend getting out to events like RE Barcamps to learn more from "real people" (non-coaches) to learn more.