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Social Media: There’s a Site for That (too!) Marc Danziger Charmed Particles, Inc. [email_address]
What are we trying to accomplish? <ul><li>What will social media do to CRE values? </li></ul>October 4, 2011
What are we trying to accomplish? October 4, 2011 What social tools are the most useful?
What are we trying to accomplish? October 4, 2011 How do I use social media in my RE business?
What  is  social media, anyway? <ul><li>Traditional media: </li></ul><ul><ul><li>You pay, I talk, you listen </li></ul></u...
Where do we find it? <ul><li>www.wordpress.com ,  www.facebook.com ,  plus.google.com ,  www.youtube.com ,  www.flickr.com...
What are the implications for RE owners? <ul><li>Good News:  If your business is driven by consumers - and you do it right...
… implications for RE owners? <ul><li>Good OR Bad News:  Location matters less, because (for retail) Yelp and Google Place...
What are the implications for RE professionals? <ul><li>Good news:  Small practitioners can compete with large firms on a ...
… implications for RE professionals?  <ul><li>Good / bad news:  A big part of your value has been WHO YOU KNOW.  </li></ul...
Reputation matters… October 4, 2011 Today, restaurants: HBS paper  (released 9/16)  by Michael Luca shows a 5 – 9% increas...
Reputation is back… October 4, 2011
So what do you do about it (as an owner)? <ul><li>Use social media to listen to your tenants/customers; </li></ul><ul><li>...
… and what do you do as a practitioner? October 4, 2011
Useful sites we’ve discussed October 4, 2011 Google Places registration -  http://www.google.com/placesforbusiness Bing Bu...
The bookmarks can be found at: http://prtcl.es/naw8C0 Thank you! Here’s this presentation: [email_address] October 4, 2011
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Crocker 2011 power point presentation v2

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Presentation to be given Oct 4, 2011 at the Crocker Symposium

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Crocker 2011 power point presentation v2

  1. 1. Social Media: There’s a Site for That (too!) Marc Danziger Charmed Particles, Inc. [email_address]
  2. 2. What are we trying to accomplish? <ul><li>What will social media do to CRE values? </li></ul>October 4, 2011
  3. 3. What are we trying to accomplish? October 4, 2011 What social tools are the most useful?
  4. 4. What are we trying to accomplish? October 4, 2011 How do I use social media in my RE business?
  5. 5. What is social media, anyway? <ul><li>Traditional media: </li></ul><ul><ul><li>You pay, I talk, you listen </li></ul></ul><ul><li>Interactive media: </li></ul><ul><ul><li>You pay, I talk, and you and I talk about what I just talked about </li></ul></ul><ul><li>Social media: </li></ul><ul><ul><li>Everyone start talking to each other while I get a cup of tea, and then I’ll come back and join the conversation </li></ul></ul>October 4, 2011
  6. 6. Where do we find it? <ul><li>www.wordpress.com , www.facebook.com , plus.google.com , www.youtube.com , www.flickr.com , www.linkedin.com , www.yelp.com , www.socialmention.com , </li></ul><ul><li>www.basecamphq.com , www.twitter.com , www.tumblr.com , maps.google.com and www.bing.com/maps/ … </li></ul><ul><li>… and many more places. (but these are a good start!) </li></ul><ul><li>, </li></ul>October 4, 2011
  7. 7. What are the implications for RE owners? <ul><li>Good News: If your business is driven by consumers - and you do it right - your customers will market for you. </li></ul><ul><li>Bad News: If your business is driven by consumers and you make them mad – it matters in ways it’s never mattered before. </li></ul><ul><li>Really Bad News: Returns on certain asset classes are likely to drop, as Internet shopping, workforce virtualization, and the efficiencies driven by collaborative technologies reduce overall demand. </li></ul>October 4, 2011
  8. 8. … implications for RE owners? <ul><li>Good OR Bad News: Location matters less, because (for retail) Yelp and Google Places let customers find the restaurant or store they want even when it’s in the elbow of an obscure mini-mall. </li></ul><ul><li>Location also matters less for office as the workforce virtualizes (I work from my home office about 25% of the time). Possibility - bad if you own A- or B+ properties; great if you own B or even C properties. </li></ul>October 4, 2011
  9. 9. What are the implications for RE professionals? <ul><li>Good news: Small practitioners can compete with large firms on a more level playing field. </li></ul><ul><li>  </li></ul><ul><li>Bad news: The shift to small practitioners will drive down rates. </li></ul>October 4, 2011
  10. 10. … implications for RE professionals? <ul><li>Good / bad news: A big part of your value has been WHO YOU KNOW. </li></ul><ul><li>… it’s easier to connect with more people using social tools. </li></ul><ul><li>… but value of ‘weak connections’ in your network goes down because anyone can use LinkedIn to find that contact they are trying to reach. </li></ul><ul><li>So just knowing someone doesn’t matter as much – what matters is how deep the relationship is and whether they trust you …reputation matters more than ever. </li></ul><ul><li>  Critical point: Reputation is back. </li></ul>October 4, 2011
  11. 11. Reputation matters… October 4, 2011 Today, restaurants: HBS paper (released 9/16) by Michael Luca shows a 5 – 9% increase in revenue for Seattle restaurants who gained one star in Yelp ratings. Tomorrow lawyers … and shopping malls?
  12. 12. Reputation is back… October 4, 2011
  13. 13. So what do you do about it (as an owner)? <ul><li>Use social media to listen to your tenants/customers; </li></ul><ul><li>Look at your professional spending – do you need a large firm with large firm rates? </li></ul><ul><li>Think about your portfolio and evaluate properties which have a location premium but aren’t at 100% locations. </li></ul>October 4, 2011
  14. 14. … and what do you do as a practitioner? October 4, 2011
  15. 15. Useful sites we’ve discussed October 4, 2011 Google Places registration - http://www.google.com/placesforbusiness Bing Business Portal - http://www.bing.com/businessportal Social Mention Search – http://www.socialmention.com Great YouTube apology - http://prtcl.es/pOHCSN Inc magazine on SoapWorks customer-led marketing - http://prtcl.es/rq0Dbi ‘ United Breaks Guitars’ on CNN - http://prtcl.es/pWpd5D PWC Emerging Trends in Real Estate 2011 - http://prtcl.es/q90bJk TIME magazine’s article on LudoBites – http://prtcl.es/rjA8yB McKinsey Global 2011 Report on US Jobs - http://prtcl.es/qy2I3F
  16. 16. The bookmarks can be found at: http://prtcl.es/naw8C0 Thank you! Here’s this presentation: [email_address] October 4, 2011

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