How to Rebuild Your Commercial Real Estate Business Amidst COVID-19

Posted on March 11th, 2021

Have a Strong Social Presence

As a commercial real estate professional, you have to stay connected and develop a dialogue with both your current and potential network. And social networking sites are great platforms to increase your brand awareness and expand your professional network. At the very least, you should start building your presence on Facebook, LinkedIn, Twitter, and Instagram. When developing your content, be sure to vary your channels to keep things fresh and put yourself in front of more diverse groups of people, share industry content to establish yourself as a thought leader, and post consistently to stay active in your network.

Utilize Client Data and Analytics

Companies could use different analytical tools to generate insights and facilitate decision-making. Now more than ever, CRE companies need to capture and analyze high-frequency data to create a meaningful tenant experience. This could include data around how tenants use different amenities, and/or engagement and performance levels. Companies can analyze tenant engagement levels and behavior to understand preferences and provide a more customized experience. They can also use tenant data to predict lease renewals and devise appropriate strategies for tenant retention.

Conduct Virtual Events

Hosting a CRE networking event is a great opportunity to increase your exposure and build your commercial real estate network. Face-to-face time is crucial for staying in that top-of-mind position, even if all you’re able to do is host a virtual event this year. Whether you are holding a live webinar or planning a more playful virtual party, hosting an event provides an opportunity to mix, mingle, and be personal with your audience while also leaving a lasting impression. People need a distraction right now and a virtual event is a great way to make a memorable impression.

Take Advantage of Technology

Companies could increase the value of their properties by deploying smart building design and maintenance capabilities and offering more relevant services to tenants and end-users. These services include using sensor technologies and predictive analytics to monitor facilities remotely and offer preemptive or usage-driven maintenance activities; or using smart building technologies and 3D visualizations to help landlords assess the operational readiness of physical spaces in real-time, implement more rigorous cleaning systems, and monitor HVAC systems.