Beyond the Handshake

Real estate professionals find that using social networking websites like LinkedIn.com, UpWorld.com and MyDealbook.com help expand relationships and forge deals. But they are increasingly discovering other benefits, as well. The sites have proven to be valuable tools in the search for new employees—especially those that are happy with their current position and therefore have not been seeking a move. “Passive recruiting is key to many businesses,” said Kathy Anemogiannis, president of Trireme Consulting Inc.Cushman & Wakefield Inc. uses social networking sites to find such passive candidates; its recruiters have profiles on the major social networking sites, including LinkedIn, Facebook.com and MySpace.com. “These candidates tend not to be open for search,” said Jennell Jones, managing director for sourcing & strategic recruitment. She noted that brokers actively seeking jobs by posting a resume on a career website might raise red flags with their companies’ recruiters.Social networking can also be an affordable recruitment tool for small to midsize firms that lack the budget for a high-level recruiter, Anemogiannis said. And with the real estate market in a downturn now, individuals can also save money in their efforts to reach out to existing or prospective clients, noted Ryan Slack, founder & CEO of DealBook.com Current means of reaching prospective clients can be expensive, but online professional marketing can get their message out to a targeted group at a very low cost.For more on how the commercial real estate industry is benefiting from use of social networking websites, see “Log On, Link Up” in CPN’s June 2008 issue or search for key words “Log On, Link Up” in quotation marks.