Commercial Real Estate Requires Social Media Knowledge, Too

In today's competitive environment, it's more important than ever for commercial real estate practitioners to use tools that help build your visibility and encourage relationships and market yourself -- and your properties. Social media can certainly help your clients, tenants, and peers find you and your company more easily.

For example, social media is a great way to showcase your personal mission and clients' properties by using blogs, video, twitter, etc. It can also be a fantastic market research tool. Tools like Google Alerts and TweetDeck let you watch how you, your company and competitors' keywords and phrases are turning up in blogs and other online conversations.

Something to think about when establishing your social media campaign is how much time you can invest. Social media is not free. Your time, effort and upkeep are important considerations. Maintenance should be daily, weekly and/or monthly.

According to Rebecca Devine, a commercial real estate strategist, the number of social media platforms you pursue should depend on your resources and individual target audiences. If you are targeting younger clients, then having a Facebook and YouTube presence makes a lot of sense, but LinkedIn may not. Devine says that just because the platform exists doesn't mean you need to be there. Think about where your clients look for information, and spend your time making those social media venues really valuable.

Devine also says that knowing what you want to measure before you engage in a social media campaign sounds basic, but most people and companies just dive in without a plan of action. You need to ask yourself, "What is it I want to change, communicate, advocate, or sell?"

The SAR Commercial Division is jumping on the social media bandwagon too. Keep in touch by "friending us" on Facebook. Search for us at Sac Commercial. Our LinkedIn profile is coming soon and we will notify you when it's up and running. Also, on your behalf, staff regularly monitors Twitter feeds and industry blogs for invaluable and up-to-date information to pass along in our electronic newsletter, website and on Facebook.

If you are not engaging in social media, it shouldn't be a question of "if" but really "how much." Connecting with your clients and peers has never been less expensive and frankly, more fun. Take the plunge. As the great Victoria Holt once said, "Never regret. If it's good, it's wonderful. If it's bad, it's experience."