Commercial real estate professionals need social media

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    19-Jan-2015

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Why commercial real estate professionals NEED social media

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  • 1. Commercial Real Estate Professionals Need Social Media Are you one of the few business professionals that havent yet engaged in social media? What is stopping you? Here are a few tips on why you need to be using social media. You Need to Form Relationships The commercial real estate business is all about relationships. Most business is won not because of who you are affiliated with, not because of your marketing materials or even your experience. It is who you know. Potential business can be won just because you have a good connection with someone. Social media allows you to form new relationships. Speeds up Networking On social media sites, you can find tons of information all within seconds, and it is all organized neatly so you can refer to it later. You can view 25 clients (local or non-local) within half an hour, and find out much more information about them than you ever thought possible. Thus, speeding up networking and cutting down local boundaries.

2. See whats going on within your area (Twitter) You may be afraid of Twitter and Tweetinghowever, Twitter can be a very powerful search tool. You can do a hashtag (#) search for your area. For example, go to Twitter.com and search #atlanta. Just browse through the Tweets that show up. You can spend less than 5 minutes and learn something about your area that you didnt know was going on. Anyone can get information; the key is knowing what to do with it. Requires a login to Twitter. Social Media is the Home of Future Clients 99% of Generation Y (Gen Y), or Millennials have a profile on a social networking site.1 Gen Y accounts for close to 80 million individuals, outnumbering the 78 million baby boomers reported by the U.S. Census Bureau.2 Gen Y has $1.3 trillion (yes, trillion) in direct spending power.3 Gen Y is beginning to take over positions that make decisions Your Competitors are on There What happens when you are not at a networking or broker event and your competitors areyou miss out on a potential opportunity. Whether you want to believe it or not, your competitors are on social media sites, and you should be too. The commercial real estate business is one of the only businesses where you market directly to your competition. They help you close deals, and you help them close deals. You can use social media to: 1. Market to your competitors 2. Monitor your competitors Use it to Learn We are in the age of information overload. There is so much information out there. Social media sites can streamline the information for you. You can follow only those people that post topics that interest you or that you can learn from. 3. Use it to Share Content One of the main goals of social media sites is to share content. Commercial real estate professionals have tons of content to share beyond listings, including marketing reports, relevant articles, blog posts, etc. Meet your Client before Meeting them (LinkedIn) Before I meet with any new client or vendor, I immediately look them up on LinkedIn. I dont really care for LinkedIns new policy where you cant see peoples profile unless you have a 3rd degree connection; but if you actually do have a connection with the individual, you can find out loads of information before you even meet the client. Use it to your advantage. There you have it, are you ready to take the social media plunge. The key is use your time wisely and dont get trapped in the vortex of social media. Make the sites work for you. By: John Boyer, Director of Marketing, Coldwell Banker Commercial Affiliates 1 - Participatory Marketing Network Study: Gen Ys Are Not Yet Taking Flight on Twitter; June 1, 2009, http://thepmn.org/pressreleases/060109 2 - Using Computer Simulations to Recruit and Train Generation Y Accountants by Polimeni, Ralph S, Burke, Jacqueline A, Benyaminy, Diana; May 2009, http://findarticles.com/p/articles/mi_qa5346/is_200905/ai_n31965174/ 3 - Welcome to the New Millenials by Littman, Sarah; May 1, 2008,www.responsemagazine.com/response-magazine/welcome-new-millenials-1192 View more at Blog.CBCWorldwide.com