Twitter (#ReTwit) Is the New Networking Center for Professionals in the Commercial Real Estate Industry
LinkedIn has long been the go-to social networking platform for commercial real professionals. I believe part of the reason is that CRE professionals have always considered it a safe social networking choice due to its emphasis on professional connections, industry-specific content, and targeted networking opportunities.
I am increasingly hearing more complaints about Linkedin, such as;
- Users frequently complain about receiving an excessive number of notifications and emails.
- Spam and unsolicited messages: Many users routinely receive spammy or unsolicited messages from other members, which may include sales pitches or promotional content that is irrelevant or unwanted.
- Inauthentic connections: Requests from people looking to expand their network without a genuine professional interest, resulting in superficial or inauthentic connections.
- Poor Content Quality in Feed: An increasing amount of promotional content in the feed including listings and closed deal announcements.
- Relatively low levels of engagement
The social media landscape is one that is always shifting and evolving. A new player has arisen as the go-to networking platform for commercial real estate (CRE) professionals, and its name is #ReTwit. This development comes as we CRE professionals continue to adapt to the digital landscape. Twitter, which was originally known as a platform with a reputation that was more casual and focused on entertainment, has developed into a strong tool for commercial real estate experts. I believe there are a few reasons why #ReTwit has recently gained traction as the new essential platform for commercial real estate (CRE) networking.
The Elon Effect
The choice that Elon Musk made to purchase Twitter was a significant factor that contributed to the platform’s recent surge in popularity among CRE professionals. Because of the billionaire mogul and entrepreneur’s reputation for grabbing attention, Twitter has been transformed into a vital communication and networking medium as a direct result of his involvement with the platform. Like him or not, I happen to, It is difficult to deny the influence that Musk’s presence has had on the platform. In addition, the recent algorithm changes which put emphasis on engagement have elevated the conversation among CRE professionals allowing more CRE accounts to be discovered.
The #CREi Movement (Commercial Real Estate influencers)
The #CREiMovement has been a significant contributor to the increased engagement and networking that has taken place among CRE professionals on Twitter. There has been a community of successful CRE professionals active on Twitter going back to the platform’s early days. The community has grown slowly but steadily over the years. In 2021 the first CREiSummit took place in Lake Tahoe. Ironically the idea of the summit was born out of a Twitter conversation between myself and @KenAshley a high-profile real estate professional based in Atlanta. Ken being the professional that makes things happen went to work, organized a team of volunteers active in the space, and the CREi movement was born. The third CREi Summit will take place September 27-29 in Orlando Florida. This premier event in the business brings together top CRE professionals from around the world, to network and share their best practices for honing and delivering marketing messages that win. The organization yearly publishes a list of the top commercial real estate influencers on various social media platforms including LinkedIn, Twitter, Instagram and this year for the first time Influential Women in CRE.
This morning I had an amazing breakfast in NYC with @realEstateTrent & spent two hours talking about the real estate market, current trends, and who is doing what.
— Bob Knakal | NYC Investment Sales (@BobKnakal) April 1, 2023
We also spoke about real estate fundamentals and how getting real estate “under your fingernails” is the best way… pic.twitter.com/2a4q4FAmXJ
The StripMallGuy Phenomenon
The meteoric rise in popularity of the anonymous Twitter account StripMallGuy, aka @RealEstateTrent, is another key factor that has helped #ReTwit grow as a networking platform for CRE. Many people don’t understand how he amassed such a sizable fan base on a website that was once considered a place for memes and jokes. His massive following on Twitter (now over 188K) has garnered a lot of attention, and as a result, many people are curious as to how he did it. Because of this, an increasing number of people working in the commercial real estate industry are signing up for Twitter in the hopes of attaining the same degree of success and recognition as @RealEstateTrent. His recent meetup in Manhattan created quite a stir online, with people traveling from all over the country to network with StripMallGuy and his followers.
Industry Icons Join the Conversation
When Bob Knakal, a high-profile broker in Manhattan with extensive experience and a high level of success in commercial real estate, started using Twitter frequently, it gave the site a big boost in its reputation as a useful tool for professionals. The existence of @BobKnakal on Twitter has inspired others working in the industry to pay more attention to the site. Several people who used to be skeptical about Twitter as a networking tool are now feeling compelled to join the site so they can connect with their colleagues and industry icons. Knakal, who admits he was skeptical about Twitter and social media until recently, is one of these people.
Another high-profile CRE professional, Florida-based Beth Azor, @BethAzor1, has become very active on Twitter, bringing increasing attention to the platform, particularly among women. Affectionately known as ‘The Canvassing Queen‘, Beth Azor is the founder and owner of Azor Advisory Services, a leading commercial real estate advisory, and investment firm based in Southeast Florida. Beth currently owns a portfolio of shopping centers in Florida and travels the country training associates in the commercial real estate industry. Just another example of an influential voice recognizing the value of Twitter.
Bob and Beth are just a couple of examples it would take some time to list all the accomplished CRE professionals, brokers, investors and developers who routinely network and share their knowledge on Twitter.
I still believe LinkedIn has tremendous value for commercial real estate professionals, but the recent growth of #ReTwit has made it clear, in my opinion, that it is the best social networking site for people who work in commercial real estate. Since so many important people in relevant fields use Twitter, it’s safe to say that it’s no longer just a place for jokes and entertainment. It has become a powerful networking hub for CRE professionals, and if you haven’t already, it’s time for you to take a closer look and join the conversation.
Don’t forget to follow me on Twitter at @CoyDavidsonCRE.
