Social Media in CRE No Longer Just for Socializing

With An Audience of a Billion, CRE Industry Adopting Social Networks for Business Outreach
By Mark Heschmeyer
February 22, 2012

Commercial real estate brokers and companies are slowly shrugging off their aversions to social media platforms and are engaging more frequently in online marketing, information gathering and client building.

While late to the social networking scene and still in a fledgling state of using websites such as LinkedIn, Facebook and Twitter, many in the CRE industry have started trying to harness their reach in hopes that one day it will lead to deals and dollars. At the same time, many others still refuse to join the fold and flat out state they will resist until they’re the last ones online.

“Clearly social media is still a divisive issue in commercial real estate – the difference in sentiment between enthusiastic adopters and major detractors parallels the sentiments in other industries driven by client relations, such as nonprofits and law firms,” said Angela Brown, external communications manager for Co Star Group. “What is interesting in the similarities is the fact that many of the perceived challenges involved with social media are not insurmountable – platform selection, time management and measuring ROI are actually relatively simple with a bit of education and practice.”

“I also think there is a misperception out there that social media is a magic wand that is meant to replace traditional relationships. It doesn’t work that way,” Brown said. “It should be seen as an inroad to establishing new online relationships and as a bridge to building offline relationships.”

Courtesy of Lee Whistler, Realtor for Century 21 M&M Clovis

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