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August 13, 2014

           Volume 16 - Number 32

      
Streamlining the Business of Commercial Real Estate
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YouConnect© is a Web-based Appraisal and Vendor Management solution enabling financial institutions to automate and streamline their process, while satisfying federal and state examination and auditing requirements.
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No. 1 Selling Comp
Database Software
 
DataComp© is the No. 1 In-house Commercial Comparable Management Software on the market today made by and for commercial real estate appraisers.
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New Edge 2011

 

EDGE© is a simple to use, but powerful report writing solution. A stand-alone application that integrates seamlessly with Word, Excel and DataComp©. 

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Manager© is our cloud-based commercial appraisal workflow application that can be accessed from any browser, Windows, Mac or cell phone. 

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DataComp and Edge
now available in the Cloud.


Hosted by Microsoft 

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For more information on RealWired! Products and Services, please:

 

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Check Out Our Sister Publication...
TOP OF THE WEEK TO YOU!
(by realwired! CEO, Brenda Dohring Hicks)

Brenda Dohring Hicks

 

Top of the Week to You! is designed to offer the inside scoop and latest of what's important in the world of technology as it relates to the commercial real estate industry.

The Best Thing Since Sliced Bread  


Did you know that when sliced bread was first introduced in the early 1900's the idea didn't sell for more than 15 years? It wasn't until Wonder bread "bought" into the idea AND had the power to distribute that idea. Yep, it's all about distribution. Sounds easy, especially in this day of social media, right? You'll hear and read that today, social media for commercial real estate is all about engagement-connecting with people through topics they find interesting, and rewarding them with content they'll want to share, and while that's true, it's also terribly misleading. Why? Because the problem is that it's hard to know who is listening. Seriously. There are so many places we CAN be heard, the problem is knowing where to share, where to begin "conversations." We don't know who is listening. This is very, very true in our industry, which is not on the cutting edge of social media, nor is it going to be anytime soon. So I think I can tell you who isn't listening - most of us.  

Our industry has an older demographic. It's because it takes years to really understand the business no matter what path you chose, brokerage, financing, consulting, and yes, even technology. That's why it's a profession, not a trade. For that reason, combined with the fact that the channels for communication are relatively new and still changing rapidly, (have you heard of the new app "YO?" You will.), effective use of social media and finding the best places for "distribution" takes work. And why would we think anything else? It should take work. After all we are all "in business," we "work." We don't get out of bed every morning and go to play. So while you may get bombarded with messaging that tells you social media is easy, it's not!

So what is the secret to implementing social media? At the top of the list is, be real. So don't approach it as you would any other marketing plan, where you shoot for a broad audience and hope you capture some of it. All you have to do is to look at any of the major companies that put products on our grocery shelves and think about that feeling of too many choices, and you get to know that more is definitely not better. To be successful in social media, you have to care, really care about your audience. Be very respectful of their time and desires. People don't want to get eMail. They want to get meMail. They don't want you to fill their social media feeds with stuff they have to sort through because they're not interested. You have to figure out who cares about what you have to offer. And that's hard, really hard.

 

So while social media may very well be, in true hyperbolic fashion, the best thing since sliced bread, just like back when Wonder Bread brought it out, there were machines that had to be built, rebuilt and perfected. I always tell people who ask about what their social marketing plan should look like, to find the right content for the right medium... and it takes plenty of trial and error to do just that. We all must publish useful content if we hope to engage and have a positive outcome. It's sort of a no-brainer to recognize that to be effective in social media you have to connect on a direct human basis, which means you'll need to make a personal investment, as well as invest in those in your organization. To be effective in social media, you will need to invest in people resources.

 

And just because social media is all about connecting with the right people, don't be fooled into thinking that it doesn't need to focus on the business at hand. Again, we get up and go to work, not play. It's part of the truthfulness that social media is all about. Approach social media just as you approach any marketing effort; you and the people you connect with should know what's going on. What the intent is. What the reason is for the interchange. Using social media is all about what matters most to your business, whether that's leads, customers, information exchange, etc. Track what you know is most important and know that while "engagement" is an important metric, it's just a piece in the puzzle that leads to an actual business metric like revenue.

 

 

Sliced bread caught on because of distribution, not because of the new idea of slicing it. Social media is the new, more convenient way to connect to people in our industry, to know if they want to "work" with us. What I've learned over the years is that while you are all happy to receive this Newsletter in your inbox and many of you respond to me personally, you don't like to respond publically in my blog. I know that. I respect that. I'm coming into your workspace the way you want. Like you, I have to continually focus on distribution to the right audience. So if you read this and like it most weeks, please do me a favor and let me know and maybe even send it along to a friend or colleague. Thanks!

 

Come join our discussion on our blog, or I welcome your feedback through email.
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