How Commercial Real Estate Companies Can Use Social Media

How Commercial Real Estate Companies Can Use Social MediaMany industries are positioned to fully realize the benefits of social media but none more so than commercial real estate (CRE).  This industry thrives more so than others on networking, referrals, and professional branding.  Social media has the capability to provide all these benefits to commercial real estate professionals.  How is this so?  Here are a few reasons:

  1. Networking – Most, if not all, industries rely on networking through varying degrees but none more than commercial real estate.  Why?  To identify business opportunities with colleagues.  Social media sites like LinkedIn gives CRE professionals the ability to find and network in an online environment with colleagues in their industry in order to identify business opportunities.  Are you a spec office developer looking for capital financing?  Sites like LinkedIn can help you find financial intermediaries specializing in financing spec office.
  2. Referrals – Are you a landlord for Class A office building with a prospective tenant who can not afford your terms?  Use social media sites like LinkedIn or Twitter to connect them to someone who can place them in a Class B or C flex space.  In return, that CRE professional may be able to refer prospective tenants to your property.
  3. Professional Branding – Its important for your colleague to view you as an expert in your specific niche whether its tenant representation, sourcing capital, development, etc.  Social media offers the ability to do this by posting relevant content branding you as a thought leader in your industry.  For example, setting up and posting to a company branded blog site can help you gain visibility but also serve as a resource for your CRE colleagues.
If used correctly, social media can have major benefits for CRE professionals.  Its simply taking what you’re doing in the real world and moving it online.  The opportunities exist.  Will you or your competitors find them first?

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