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Does Social Media Work in Commercial Real Estate?

That’s a damn good question. Here’s the answer, I don’t know… YET. Here’s what I do know… I know I can’t have a conversation with another business owner without them asking if I’m doing anything online with social media and if it’s working or not. My response is YES, I’m involved in social media… is it working? Not sure. I’m on LinkedIn, Twitter and most recently Facebook… and to be honest I feel like a toddler in the baby pool who desperately wants to swim like the big kids… or at least I think I want to swim… or better yet, I’m told I need to swim.

There is no question social media is all the buzz these days and there are already 1000’s of guru’s out there who want to show you how to capitalize on this new era of social interaction and networking for business purposes. I recently bit the bullet and signed on to Facebook, despite my wife telling me I was going to scare young children if I joined. I know it’s not taboo to be on Myspace or Facebook anymore but I still can’t help feeling like I just signed up for the high school yearbook committee all over again. So far I’ve reconnected with a whole bunch of high school friends I haven’t spoken to in years, which is great… but I still don’t have a clue how to use it to grow my business. I have a little bit more of a clue with Twitter but really I’m just on there once or twice a day to try to post something relevant to my business or push my blog out there. I’m not the guy telling you I had grape nuts with sliced up bananas on it for breakfast. I feel the most confident on LinkedIn. I’m part of 30some groups and have networked with some great people. That said I know I still have a lot to learn.

In my business, commercial real estate, or more specifically, commercial real estate brokerage in the Boston area, my goal is to network with other business owners and companies who have a future need to either lease or purchase commercial space as well as networking with commercial property owners and commercial investors. But like many business owners I’m always scrambling to find the time. Then, when I do find the time, where is my time spent going to be the most productive? Which social media outlet is going to give me the biggest ROT (Return On my Time)?

I’m told, “Rome wasn’t built in a day” and “this is a marathon, not a sprint”, so don’t get me wrong, I’m totally on board (obviously or I wouldn’t be sitting here at 9:15pm writing this blog article!), I just hope the conductor points me to the right seat after a few too many cocktails in the bar car and sitting next to me is Warren Buffett who tells me he would like me to be his exclusive commercial broker for all of Berkshire Hathaway’s companies.