Q&A with Linda Day Harrison, Founder, theBrokerList and Ewa Baska, Marketing Director, Buildout
There is very little information about the genetic makeup of the commercial real estate brokerage sector. But thanks to leaders like Linda Day Harrison of theBrokerList and Ewa Baska and Tory Fedder, both of Buildout, they are helping us get to get a deeper understanding of some of the habits of commercial real estate brokers with a newly added “Marketer Edition". Now in its third year, the DNA of #CRE takes a snapshot of various segments of the the industry and shares it with the industry to include comprehensive reports and analysis. Thank you Linda, Ewa and Tory for playing such an important leadership role in the CRE sector and I hope everyone will take a few minutes out of your day to fill out this very important survey!
I recently spoke to my good friend Ewa Baska and Linda Day Harrison to learn more about this important new industry survey:
Michael: What is the DNA of #CRE?
Linda & Ewa: The DNA of #CRE is a survey for the Commercial Real Estate industry, brought to you by theBrokerList and Buildout. For the past three years, the DNA of #CRE has worked to uncover vital information and examine the defining features of the Commercial Real Estate industry. These findings have helped brokers identify previously-unknown insights and helped them identify where they stack up against peers.
M: Where do individuals go to fill out the information?
L & E: Brokers and marketers can go to http://dna-of-cre.buildout.com/, select their role, and take the survey based on the position.
M: What are some of the major findings from the past report?
L & E: Across brokerages of all sizes, relationships are the top stimulus for business, followed at a distance by personal reputation. Strong relationships within the industry keep brokers informed of opportunities in the market. And a sense of trust between broker and client drives both initial and repeat business.
Maximizing exposure is the top challenge in marketing listings for small and medium-sized firms, which may be an indication that brokerages could benefit from new technology capable of efficiently expanding reach beyond word-of-mouth. Brokers from large firms cite gathering accurate property data and research as their top challenge.
Brokers from small brokerages rely more heavily on self-sourced information, while those from medium-sized and large brokerages look to industry databases as a top information source for property data. This disparity is likely influenced by the cost of tools, which medium-sized and large brokerages can more easily absorb.
As for age and gender, the industry remains predominantly male. Medium-sized brokerages skew slightly younger, though more than 50% of the brokers are more than 50 years old.
M: What can you tell me about the marketer edition?
L & E: The DNA of #CRE: Marketer Edition is a groundbreaking survey for the Commercial Real Estate industry. We are finally asking our marketing leaders how they market in a brokerage, ranging from the basics of managing listings and storing data, all the way to blogging and social media practices. We are so, so excited about these results. Marketers behind the brokers are the backbone of the industry and we want to hear from them.
M: Why should someone take this survey?
L & E: There are so many reasons to take the 2017 DNA of #CRE, but foremost, the survey is educational and informative. If you are just starting out or if you are a Commercial Real Estate professional, this survey asks you to take inventory of yourself, reflect and see how you as a broker or marketer stack up against your peers. As a marketer in Commercial Real Estate, you can get ideas of marketing tactics you may not be using yet.
This year, the DNA of #CRE includes a futures prediction section for brokers and marketers to weigh in on where they think the industry is headed. You can actually be a part of something that is unprecedented in the CRE tech landscape: industry predictions from both brokers and marketers.
Another compelling reason to take the survey is that the raw data from the survey is shared with you (The survey is anonymous and we will not share any personal information we collect with anyone). If you are an organization, a blogger or just an analytical person, we can provide the raw data and you can drill down and do your own analysis. In the raw data, you’ll be able to find insights you could use for content or for future business decisions.
The DNA of #CRE is a tech charged survey. It was born and promoted mostly through social media. The industry statistics from the survey are great to share on Facebook, LinkedIn and other social media sites! The results are a content engine in itself, which I know you and your team love! If you are a #CRE tech business, the survey results can be eye-opening for your future marketing and planning.