Magazine article Journal of Property Management

Irem International Members Discuss the Impact of Social Media in Their Business

Magazine article Journal of Property Management

Irem International Members Discuss the Impact of Social Media in Their Business

Article excerpt

It appears that every type of business has incorporated social media into its marketing plan. We asked international IREM Members to share ways they have used social media as a tool to market their business to clients, manage properties, attract potential tenants or interact with current tenants. In addition, we wanted to know the results of their efforts and the role they see social media playing in the future.

UKRAINE

Social networks bring people together. People who have not seen each other for a long time, or who never knew each other before, can now quickly communicate. For business, potential clients can get information they need in one moment (for example, to rent an apartment in another city, to see photos of a house that is being sold, or even to meet colleagues on the other side of the world). Social media has seen great progress, and it is very cheap. It is very interesting because you can find something new about your business partner, and develop relationships. It is very important for Ukraine.

Confidence in social media is growing, especially for progressive property managers who are interested in increasing the effectiveness of their business. Potential tenants will always choose the professional and openminded manager, and competitors will be left behind. I work in the rental business and 50 percent of my tenants come from Internet leads. Social networks will help increase this percent, save marketing costs and improve the speed of information dissemination in many countries.

Vita Klyuchnyk, CPM, real estate consultant. Real Holding, Nikolaev, Ukraine.

BRAZIL

In Brazil, the social media sites Twitter and Facebook are used widely by traders and companies that sell and purchase real estate. However, property managers are just beginning to use the media as a public channel for communication. Law firms such as the one I work for do not exploit the media as they should, as this is unfamiliar territory, although new generations prefer this method to stay connected. …

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