CoStar brings us their round-up of their biggest stories from 2012. It didn’t take long before I had to stop and just shake my head. #1 – Grubb & Ellis – ok, I can go for that. But then #2 – Social Media.
I suppose this shouldn’t surprise me. I’ve mentioned many times that CRE doesn’t do technology well at all (no one in CRE, not even those fancy new start-ups (I really would like to be impressed soon please)). So it goes without saying that CRE doesn’t do Social Media.
But then they hit the key quote:
I also think there is a misperception out there that social media is a magic wand that is meant to replace traditional relationships. It doesn’t work that way.
And this goes to the fundamental flaw with how most in commercial real estate choose to operate. Relationships come first, second, third and fourth. There is no room for innovation, client service or growing a business. And that is why new technology struggles in this industry and why social media will take several more years to actually gain regular use.