When Melissa Alexander first began dabbling in social media as a industrial actual property dealer, like most of us, she did it initially simply to remain updated on breaking information. Alexander, Vice President of Foundry Commercial in Nashville and an industrial dealer, had simply moved again to the Music City and was “principally ranging from scratch” after being away from her hometown. She started her profession at Cushman & Wakefield in Memphis, spending about 11 years there earlier than shifting again to Nashville. When she obtained again to her hometown, she made a concerted effort to “up her social media sport.”
Alexander continued to observe breaking actual property information on Twitter whereas searching for a new place in Nashville however determined to additionally do one thing else with the platform, one thing that has since confirmed to be a nice transfer. She teamed up with a former CRE co-worker from Memphis, Casey Flannery, in 2018 to create #CREchat, a reside Twitter dialog that discusses scorching subjects in industrial actual property. Alexander mentioned the Twitter chat concept has helped them develop each their social media followings and their enterprise connections past any of their expectations. “Our concept initially was to remain on high of breaking information whereas bringing CRE folks collectively, and it simply took off,” she mentioned.
Flannery, Senior Associate at Cushman & Wakefield in Memphis, mentioned the preliminary concept for #CREchat got here whereas she and Alexander have been at the nail salon. They seen there have been fairly a few CRE professionals on Twitter they usually have been accustomed to how Twitter chats labored. A number of folks informed them others had tried to make on-line conversations about industrial actual work earlier than and had failed, however they determined to offer it a shot anyway.
“We actually didn’t know what to anticipate,” Flannery mentioned. “We did know, nevertheless, that we wished to create a platform and share data with others in the trade. We’ve turn into buddies, and have created highly effective data and deal-sharing cohorts with others all through the industrial actual property trade.”
Once a month, Alexander and Flannery choose a actual property matter and discuss it with the #CREchat hashtag on Twitter, producing an internet dialog with their followers and different actual property people. Their material varies enormously, the final two conversations they hosted centered on psychological well being in the actual property trade and the future of LEED-certified buildings. The chats normally result in sturdy, constructive, and attention-grabbing conversations about facets of working as a CRE dealer and the trade typically.
“The chat performed a key function for us throughout the starting of the pandemic as a result of we have been all making an attempt to determine what was going to occur in actual property,” Alexander mentioned. “We ended up switching from a month-to-month to a weekly chat as a result of issues have been altering so quickly, and CRE folks have been saying we have been breaking information earlier than anybody else as a result of we have been sharing a lot anecdotal data from the markets. That anecdotal data at all times comes earlier than the knowledge.”
Being a industrial dealer is all about connections and relationships, so social media has turn into more and more vital for a lot of. But whereas residential actual property brokers have thrived with social media advertising and marketing on websites like Instagram and Facebook, CRE brokers have been slower to capitalize. Flannery and Alexander suppose that is a large mistake and being lively on social media could make a big distinction in a dealer’s success.
“When you’re lively on social media, you’re getting real-time data throughout the trade,” Alexander mentioned. “People are telling you what they’re seeing and what’s going to be trending down the highway. It helps with every kind of decision-making, whether or not you’re representing a tenant, representing a landlord, or serving to somebody buy or promote a constructing.”
Flannery agrees along with her #CREchat companion and mentioned that being lively on social media not only for private makes use of has helped her profession tremendously. “I believe if you happen to exclude utilizing social media for enterprise, it doesn’t make any sense,” she mentioned. “People are doing analysis on-line, they’re discovering brokers on-line, they’re discovering listings on-line. Being discovered on-line can have a big influence on getting a deal carried out or getting a new itemizing.”
In addition to their #CREchat account, Flannery and Alexander have each gained 1000’s of followers on Twitter and are very lively on the platform. And if you happen to’re in any respect skeptical that likes and retweets imply something tangible for a CRE dealer, they each mentioned their social media affect has led to actual enterprise outcomes. Alexander described a latest scenario the place she cold-called somebody about a land itemizing and the consumer known as her again in 10 minutes after trying her up on-line. “I appeared you up and I do know you’re the actual deal, and I’m going to rent you,” the consumer informed her.
Social media utilization amongst all generations has been growing, however the pandemic accelerated it much more. Seventy-two % of folks surveyed by Digital Commerce 360 mentioned their social media use elevated throughout the pandemic’s first yr in 2020 and 43 % of survey respondents mentioned they posted updates extra typically. With increasingly folks spending time on-line, the significance of social media for CRE brokers and companies of every type is tough to disclaim. Seventy-eight % of shoppers are keen to purchase from a firm after having a constructive interplay with them on social media, based on Sprout Social, a social media software program firm. This statistic transfers over to actual property accordingly. It’s straightforward to see how potential purchasers would even be extra keen to do enterprise with a CRE dealer after having a constructive impression or interplay with them on-line.
While being extra lively on social media is a good begin, Alexander and Flannery shared with me additional suggestions for increasing affect in the CRE world. They each mentioned the first step was to easily leap in with each toes, studying the ropes as you go alongside. They mentioned success, and the enterprise outcomes that include it, received’t occur in a single day. For Alexander and Flannery, constructing their private manufacturers and a social media following took effort and time. Both of them are very deliberate with the platforms they use and persist with a constant posting schedule. Not each CRE dealer will turn into a social media influencer however with a little effort and ingenuity, being extra lively on social platforms can repay.
‘Just be genuine’
For Alexander and Flannery the platforms that may have the most influence for CRE brokers are LinkedIn and Twitter. Their #CREchats began on Twitter and has since turn into a podcast, and Alexander and Flannery are each additionally very lively on LinkedIn. LinkedIn is the world’s largest skilled community with practically 800 million members in additional than 200 nations and territories. But Twitter has emerged as a wonderful platform for extra casual discussions amongst CRE professionals.
Alexander mentioned it is best to choose one or two social networks and maximize your efforts there so that you don’t stretch your self out too skinny. She famous that Clubhouse, the social audio app, is an rising platform for CRE brokers, however, “you’ll be able to’t be all issues to all folks.” Alexander additionally mentioned brokers ought to take notice of the stylistic variations between platforms like LinkedIn and Twitter. For instance, self-promotion is a bit extra acceptable on LinkedIn than on Twitter, the place it may be labeled as spammy. Twitter additionally has far more tolerance for irreverence, wit, and humor. “Each social media platform has its personal character,” Alexander mentioned. “Something you publish on LinkedIn might not essentially work on Twitter and vice-a-versa.”
Many folks like social media advertising and marketing as a result of they need genuine experiences, actual connections, and content material and advert campaigns that basically get them. This is way totally different than older mannequin advertising and marketing that was much less of a dialog and extra of a one-way road. In that vein, Alexander and Flannery mentioned one of the most important issues to recollect when constructing a private model on social media is to simply be your self. “If you strive too onerous, folks can and can see proper via it,” Flannery mentioned. “Just be genuine and leap proper in and do it. There’s a studying curve for everyone and determining what works for you.”
Alexander and Flannery mentioned a widespread mistake on LinkedIn or Twitter is consistently posting self-promotional content material, whether or not or not it’s data about your organization or one of your new listings or offers. This will simply bore your viewers, they usually’ll doubtless ignore you. They mentioned a key to gaining social media affect is to suppose of your self as a content material creator. Share content material that gives worth to your followers, corresponding to actionable enterprise insights, trade tendencies, market studies, or helpful and related articles.
11 Common Mistakes Made in CRE Deals: Not Hiring an Attorney Experienced in #RealEstate. Can definitely make a case for the significance of retaining a actual property dealer; simply as vital is hiring an lawyer with actual property expertise. https://t.co/coKSXbCls6 through @DMagazine— caseyflannery.CRE (@FlannCasey) September 28, 2021
Self-promotion isn’t a unhealthy factor in itself, but it surely must be balanced with different varieties of useful content material. Alexander and Flannery mentioned the aim must be to aspire to turn into a ‘thought chief’ amongst CRE brokers in your space. It’s a regrettable enterprise buzzword, however the aim is the proper one. They famous that #CREChat gained so many followers as a result of it grew to become a supply of invaluable data for CRE professionals, not as a result of they endlessly promoted their very own listings.
Remember the social half
Some folks reside on social media and publish day-after-day. This isn’t totally obligatory to achieve a following, however a constant posting schedule is, based on Alexander and Flannery. Some folks solely publish 10 instances a yr or achieve this solely sporadically. It’s onerous to achieve any momentum in the sea of content material on the market if you happen to’re not posting a lot. Flannery and Alexander mentioned they aren’t notably strategic about their posting, however they do have some guiding rules, together with staying to a constant schedule. For instance, #CREChat sticks to a month-to-month schedule.See additionally
You might schedule posts upfront with a instrument like Hootesuite and meticulously plan out your content material, however Flannery doesn’t suppose that’s obligatory, both. “It does take time, but it surely doesn’t take as a lot time as you’d suppose,” she mentioned. “When the newest information hits my e-mail inbox in the morning, I attempt to share that on LinkedIn, so I’m one of the first folks to share that data.”
Posting persistently additionally performs in your favor as a result of of algorithms. Each platform, whether or not LinkedIn or Twitter, has an algorithm, and when you begin posting repeatedly, you’ll in all probability begin seeing a rise in likes and engagement. This is as a result of social media platforms improve your views on peoples’ timelines once you’re persistently sharing posts (so long as it’s not spam). So, the extra social you might be, together with interplay with others, the extra ‘airtime’ you’ll get.
Finally, Alexander and Flannery emphasised that interacting with others on Twitter and LinkedIn is vital in constructing a private model. It additionally results in making some enjoyable web buddies who you might meet IRL and do enterprise with. Social networks are communities initially and, whereas a lot has been written of their unfavorable sides, they will also be wonderful locations to share concepts and make connections.
Flannery and Alexander mentioned they invite interplay from others on Twitter and LinkedIn by displaying their curiosity in constructing friendships by tagging and following others and interacting with different folks’s posts. “If you work together with different folks and influencers, your tide goes to rise as effectively,” Alexander mentioned. “It’s good to be not so self-focused. Think about your posting as having a dialog with somebody and never speaking at them, as a result of folks reply on social media.”
The advantages of creating #CREchat and being extra lively on social media are clear for Flannery. She mentioned she and Alexander have developed robust private manufacturers for themselves, as others acknowledge them at occasions they attend, even exterior of their regional markets. But, most significantly, Flannery mentioned #CREchat has made her a higher dealer. “When we first began the chat, I used to be simply beginning on the brokerage aspect of the enterprise,” Flannery mentioned. “So the chat has helped me study and implement greatest practices for enterprise and purchasers. And for me, the coolest half has been assembly folks throughout the U.S. and all sectors of the industrial actual property trade.”
Roughly seven out of ten American adults at present use some sort of social media to attach with others, share data, and interact with information content material, based on a latest survey by the Pew Research Center. With extra folks on social media than ever earlier than, there’s a big range of alternatives for CRE brokers to attach with potential purchasers and land IRL enterprise offers by maximizing their affect on platforms like Twitter and LinkedIn. Flannery and Alexander’s #CREchat launched them into actual property influencer standing, however you don’t have to achieve a large following to reap some of the advantages of utilizing social media for enterprise. However, as Flannery famous, not being lively on social media in a skilled capability doesn’t make sense anymore. The reliance on social media in the CRE world will solely proceed to develop and, as Alexander informed me, if you happen to don’t have a longtime on-line presence at present, “it’s such as you don’t even exist.”
https://www.propmodo.com/how-a-couple-of-cre-brokers-got-launched-into-the-social-media-influencer-stratosphere/
