October 2011: Commercial News Round Up

The latest property management primer and social media tips.

October 1, 2011

IREM’s New Release

The Institute of Real Estate Management has published the 16th edition of its invaluable business tool for both new and experienced property managers. Principles of Real Estate Management covers such core knowledge as how to develop a management plan and how to market properties. It also addresses timely topics including how to incorporate sustainability into building management and how the recession fallout has affected real estate operations. The book is available online at www.irembooks.org or by calling 800-837-0707, ext. 4650. The cost is $49.95 for IREM members, and $59.95 for nonmembers, plus taxes and shipping.

Five Ways to Get More from Social Media

Scott Pollock, a broker with CB Richard Ellis’ Private Capital Group in Cleveland and author of “The Commercial Real Estate Insider” blog, has been steeped in social media for more than two years. Here’s what he’s learned:

  1. Do more listening than talking. Spend time reading posts to find investors with needs that fit your listings. Laser focus on commercial real estate groups on LinkedIn and Twitter.
  2. Talk, don’t write. When Pollock found his videos were getting more hits than written posts, he set up a YouTube channel for prospective clients. To create a livelier video experience, Pollock and his partner, Steve Latkovic, interview each other as they walk through a property.
  3. Capture other videos on your blog. Build your library by embedding videos from sites like GlobeStreet (globest.com) or Commercial Property Executive (cpexecutive.com). Add an intro commentary that gives the video local relevance.
  4. Pay attention to key words. Embed the words your audience searches for the most. In Pollock’s case, “Cleveland commercial real estate” helped get him a search engine boost.
  5. Be consistent. The partners post at least once a day; otherwise traffic drops precipitously.