Commercial firms expand social media presence, but concrete benefits up for debate

TRD New York /
Dec.December 10, 2012 11:30 AM

Some commercial real estate firms now have a greater social media presence, and some brokers say they’re nabbing leads thanks to the social media sphere, the Wall Street Journal reported.

But whether a social media presence can secure a deal is a matter of debate. JMP Securities’ William Marks, himself a former broker, says online activity doesn’t make a big difference. Twitter, Facebook and LinkedIn cannot provide the face-to-face contact that the business thrives on, he said. “There are indirect benefits, yes,” he told the Journal of social media, “because it’s free advertising in a sense. But there is a ceiling to how much it can actually benefit.”

However, CBRE broker Sacha Zarba told the Journal that thanks to LinkedIn, he’s had over 25 meetings — five to 10 of which have led to a deal. “I will instantly see who we know in common and get an introduction,” Zarba told the Journal. “It makes it warmer.”

Though there are benefits to having a social media presence, as The Real Deal previously reported, there’s the chance for a risky Tweet or Facebook update to cause harm, putting the firm’s brand on the line.

In terms of Twitter followers of commercial brokerages, CBRE takes first prize with over 26,000 followers. Jones Lang LaSalle, on the other hand, has a list of roughly 16,000 followers and even has a social media staff to maintain the firm’s Facebook and LinkedIn accounts. [WSJ]Zachary Kussin


Related Articles

arrow_forward_ios
Brookfield Property Partners' Brian Kingston, Silverstein Properties' Larry Silverstein and Empire State Realty Trust's Anthony Malkin (Getty)

Real estate firms lead cautious return to NYC offices

Real estate firms lead cautious return to NYC offices
Hana CEO Andrew Kupiec, The Real Deal's Hiten Samtani and Hana's EVP of Occupier Solutions Georgia Collins

The REInterview: How flex space could upend supply-demand dynamics in the office market

The REInterview: How flex space could upend supply-demand dynamics in the office market
Matthew James (Credit: ABC)

First black “Bachelor” for ABC comes from real estate world

First black “Bachelor” for ABC comes from real estate world
“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space
470 Kent Avenue and Naftali Group’s Miki Naftali (Credit: Google Maps, Gonzalo Marroquin/Patrick McMullan via Getty Images)

Naftali closes on large Williamsburg development site for $100M

Naftali closes on large Williamsburg development site for $100M
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

“For years we all laughed at them”: office brokers warm to virtual tours

“For years we all laughed at them”: office brokers warm to virtual tours
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

How to open up our offices on tonight’s TRD Talk

How to open up our offices on tonight’s TRD Talk
JLL CEO Christian Ulbrich (Ulbrich by JP Yim/Getty Images for Women’s Forum of New York, iStock)

JLL slashes jobs in NYC capital markets group

JLL slashes jobs in NYC capital markets group
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...