New study by Google and Loopnet shows behavioral shift to online space searches
Even as the internet has disrupted seemingly every business function, commercial real estate leasing has remained stubbornly analog. If you wanted a new office, you called a broker. But those days may be over. According to a
blind survey conducted by Market Connections and presented by Google and Loopnet, 78 percent of office tenants searching for new space now start their searches online—compared to 66 percent who start with a broker.
That doesn’t mean office brokers are obsolete, or even that they will be any time soon. It just means they need to take the internet seriously as a tool for engaging prospects and customers. In fact, the web presents plenty of opportunities to intercept clients when and where they’re looking for information. To convert them into brokerage customers, social networking evangelist Jill Rowley says brokers must engage in what she calls social selling.
“Social Selling is using social networks to do research to be relevant to build relationships that drive revenue,” says Rowley, who spent six years in consulting and 13 years as a quota-carrying sales rep at Salesforce and Eloqua. “If commercial real estate sales reps don’t embrace social networks, they may be irrelevant in the near future. Be where your buyers are: Offline, Online, #AllTheTime.”
The head of JLL’s Social Seller program
Paige Steers sat down with Rowley recently in Dallas to discuss social selling and the ways CRE brokers can use digital tactics to build human relationships that lead to real revenue.