The Pros and Cons of Social Media Use in Commercial Real Estate Brokerage

There are plenty of things that you can do with social media in commercial real estate today.  In saying that, there are rules to follow if you want to get reasonable results.  Most agents and brokers do not have a social media plan, and that is where things fall apart from a personal perspective. (NB – you can get plenty of commercial real estate tips in our ‘Snapshot’ program right here)

Social Profiles

So, you can and should use online social media tools as part of promoting yourself and your listings in commercial real estate brokerage.  There are lots of property things to talk about online in a professional way to help you build your profile.

When you think about the basics of what you do, hear, and see every day, there are factors and information that you can convey.  Here are some of the most common facts to use:

  • Sale prices from recent ‘public’ sales
  • Rents achieved in larger lease deals
  • Current levels of inquiry for property
  • Precinct changes
  • New development activity
  • Supply and demand for property

Every one of these local property topics will be a social media theme that can be expanded on as an article and then placed online.

So, what goes wrong here?  Many agents take the easy way out when it comes to their profile, listings, and articles online; they just place property adverts into their social media channels.  They do nothing more than that.

The issue here is that the listings are already on the portals and the websites, so the processing of the listings into social media channels is just an ‘overkill’ and mostly irrelevant.  Those agents ‘waste’ their time taking the easy way out with social media.

Use the Tools Online

We have all heard about the various ‘social tools’.  Some of those ‘tools’ are aligned more to ‘business’ and others to the ‘personal’ end of the spectrum.  If you are going to build your business profile online, then do it correctly from the start. Here are some rules to respect in this ‘online promotional process’:

  • The portals are only for property listings – all your exclusive listings should be on the portals. Open listings should not feature in your ‘online’ activities.
  • Websites are for listings, articles, editorials, and blogs – make sure that your brokerage website has all the ‘channels’ of communication open and active. The search engines like information that is useful and helpful.
  • Social media channels are for interesting and valuable local property information – provide information that is accessible and locally based. Have a few stories to tell about the area and the precincts.  Think about how a newspaper journalist would handle local property information.  Write your articles accordingly.

If you work the logic of each method correctly, then your property and personal marketing efforts can be far more successful.  Separate the strategies; that’s the rule.