How do you use social media for your business?
Answers to that question, as you’ll see, are as varied as the people using it. But one truth keeps emerging: If you’re not on social media, “you’re missing the boat,” as Joe Pelayo, SIOR, who heads Total Real Estate Consultants, Inc., makes clear.
Essentially there are four issues that arise around the use of digital marketing sites: Which ones do you use and why? What do you post on them? What is the return? What are the do’s and don'ts?
“The main reason for any social media is to raise curiosity and add value,” says the Coral Springs, Fla.-based Pelayo, whose main vehicle is LinkedIn, although he also employs Instagram, YouTube, and Twitter.
“LinkedIn is my number one because it’s the most interactive,” he states, “and so far, we have almost 10,000 followers.” He says his primary posts on LinkedIn and Twitter concern new listings, enticements such as price reductions, and links to articles of related interest. He’ll post virtual tours on YouTube. “Obviously, I also post sold and leased transactions.” In all cases, there’s a link back to the company website.
YouTube and Twitter are the go-to sites for Chad Griffiths, SIOR, the Edmonton, Alberta-based partner at NAI Commercial Real Estate. And even though it’s not his prime vehicle, he can boast 5,000 followers on LinkedIn.
“We do one weekly podcast on YouTube,” he explains. “Anything I post needs to provide some value to readers, some news or commentary.” He’ll aggregate podcast clips to post on the other sites throughout the week. “It would be rare for me to post more than four or five times a week on anything.”
You won’t see company news on the posts, by the way, only a link to its website. His is clearly a thought-leadership exercise. “I avoid new listings or properties I’ve sold,” he says flatly.
“The one I’m most active on is Twitter,” says Russell Patterson, SIOR, owner/broker of Patterson Commercial Property Group in Tyler, Texas. “I’ve found that the engagement is better than on LinkedIn.” He says he grew tired of the “constant emails and private pitches to work with someone else.” He finds Twitter more conducive to building relationships over time.
And please notice that no one listed Facebook as their go-to. “Facebook is for my parents,” says Patterson. But in reality, he does keep both personal and corporate Facebook pages. “There’s a market out there,” he says unenthusiastically. “I’ll post occasionally when a junior broker gets their SIOR designation or gets promoted. But that’s about it.”
At the other end of the generational spectrum, he points out, “40% of all searches done by Gen Z are done on TikTok,” a major consideration for brokers looking to preserve business after the Old Guard shuffles off the corporate coil. “If Gen Z is your clientele, why aren’t you on TikTok?”
Patterson likes to keep it personal, to the point of venturing into potentially treacherous waters with posts that show “there’s someone with a life outside of commercial real estate.” Social media is a branding exercise for him, and he’s the brand. His primary posts (70% of them, he says) revolve around the Texas Christian University Horned Frogs athletic program.
“The people who are 100% focused on real estate in their profiles just scream a boring life to me,” he says. “Readers will see I’m a family man, involved in my community, my church, and TCU.” And that’s how he builds relationships.
"We’re in a unique time in our economy,” Patterson reasons. “You’ve got to think outside the box and be creative in the way you market and brand yourself. Being involved in my family and volunteer organizations is as much a part of my business and my brand as my social media is.”
He adds an important footnote to that statement: “I’m not defined by my online presence. It’s just another part of my business, but it’s an important part.”
Pelayo is the brand behind his postings as well, but with a major asterisk. “I’m a major producer, so I’m the brand.” But the state of Florida says he must show himself as a licensed real estate broker, and so name, affiliation, and designations become part and parcel of that brand.
THE RETURN DYNAMIC
Here’s a good thing about building a social media presence, especially for those SIOR members carefully counting the beans of cost/benefit. “It doesn’t cost you a dime,” says Patterson, an SIOR instructor in marketing and branding. “You’d be shocked at how few of the younger generation I’m talking to are online building their brand and business,” many not venturing farther than LinkedIn.
Not only is it free, but it’s not a constant chore. “You just need a presence,” he says.
But like anything else, it doesn’t have to be free. “My time is more efficient in the field,” Pelayo says, and “while I’m a little late to get involved myself, I see the value.” So, his daughter, who has a master’s degree in advertising, and another colleague, oversee the social media in-house while an outside vendor manages the technicalities of the YouTube videos and clip distribution.
The monthly expenditure can vary, depending on the animation and scope of work, but costs can run as low as $500. Of the benefit, he says: “Most of my properties sell within 60 to 90 days.”
But here’s another asterisk: social media should not exist on its own, and at Total Real Estate Consultants, it doesn’t. Pelayo calls it the “octopus approach,” with tentacles wrapping around many branding vehicles. “We mail out 6,000 direct-marketing pieces a month to complement the social media and website,” he says.
Griffiths too has a provider for his podcasts. In terms of the return, he admits it’s not as dollar-for-dollar as a traditional ad might be. Rather, it’s longer term.
“I get the benefit question from other brokers more than anything else,” he says. “But the industry as a whole is driven by immediate results. I’m looking for non-monetary benefits. The number of people who reach out to me are young brokers looking for jobs, and I’ve been able to connect four or five with jobs in their markets. Or they’re looking for advice on a deal. They’ve seen so much of my content that they feel they know me.”
Patterson builds his presence by himself, which makes sense, given the personal nature of his postings. What does he say to peers balking at the time expenditure?
“I just show them the check for the 5,000-square-foot lease I did recently on a medical office building.” The contact came through Twitter, as did the call he got just before our interview concerning a closed bank branch he’s listing. The caller was a rep for a coffee franchise who had seen a picture of the bank branch posted on Twitter. “I’ve made 10s of thousands of dollars in brokerage fees through Twitter alone through referrals by people in other markets.” The power of relationships at work.
THE DO’S AND THE DON’TS
Not everyone agrees on the level of personal information that should be grist for the digital mill. Griffiths and Pelayo draw the line at anything beyond business.
“In social media, you don’t talk about politics, family, or personal life,” says the latter. “I’ve seen fellow SIORs who show pictures with a hat or a flag for different political affiliations, and that just turns people off.” Ditto for sports affiliations, since there too, passions can run high.
And while Patterson believes in the personal touch, he does so cautiously. “I can support my teams,” he says, “and might actually make connections through that. But I have to be careful when talking about a competing school. I might have a client that went there.”
Politically, he comments on moves that might affect the economy or the market. But he tries not to bash. Nevertheless, “I’ll follow who I follow, and the hope is that the people I’ve built relationships with will reach out to me if they disagree.” He adds that Twitter, with its built-in word imit, helps keep opinionated posters from getting in too deep.
Of course, hate speech and hot-button topics outside of the real estate realm are–and should be–off limits for all our speakers.
Other than that, the sky's the limit. Here are some other hints for wannabe social media influencers:
“Watch your tone,” says Patterson, harkening back to the ethics issue.
“Develop a plan, and be authentic,” is Pelayo’s advice. “What do you want people to know about you professionally, about your knowledge and experience?”
For Griffiths, the watchwords are consistency and value: “It’s got to have value for the community,” and don’t blanket the market with the same content. Otherwise “you’re diluting yourself.” If you can put out one quality post a day, that’s good, but even once a week is workable if it delivers on that all-important value proposition.
But most of all, post. Become a cautious, ethical influencer. Develop that presence online as part of your overall marketing strategy. Otherwise, as Joe Pelayo stated, you’re simply missing the boat.
This article was sponsored by the SIOR Foundation - Promoting and sponsoring initiatives that educate, enhance, and expand the commercial real estate community. The SIOR Foundation is a 501(c)(3) not-forprofit organization. All contributions are tax deductible to the extent of the law.
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