CCIM’s Weigh In on use of Social Media in Commercial Real Estate

by CoyDavidson on January 5, 2010

Those of you that follow my blog may remember my post back in September “Is Commercial Real Estate Beginning to Discover Social Media?” where I discussed commercial real brokers unlike residential agents had been slow to adopt Social Media as a business tool. I have since authored a couple of blog posts reviewing my efforts in this endeavour.

During this four month period, I have been aware of my colleagues from both inside and outside my firm observe with curiosity and I have noticed the number of commercial brokers with a presence on LinkedIn, Twitter and Facebook continues to increase steadily. In addition, back in September you could find very little on the subject either on-line or in real estate trade magazines. However, since that point there have been several articles written on the subject. The latest article on the topic is from “Commercial Investment Real Estate”, a publication of the CCIM Institute in their Jan/Feb 2010 issue of CIRE magazine. Coincidentally, I happened upon the article on Facebook by following the CCIM Institute Fan Page.

Social Media Savvy

Given, the commercial real estate industry has just come through what was a very difficult year in 2009, I believe you are going to continue to see an increasing amount of commercial brokers experiment with these tools in an effort to enhance their business practices. Those who have not jumped at this point, should not be concerned. What I have learned is the business world for the most part has not exactly figured out Social Media, but it is evolving quickly.

My advice to those who have yet to experiment with Social Media is to jump in, maybe slowly but begin to learn the ropes. However, do understand Social Media is not a direct sales channel but is a platform to network, create new relationships and build on existing ones. Be patient, just like the more traditional methods of networking it takes time, effort and sincerity to build solid business relationships.

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