Using Social Media to Grow Your Commercial Real Estate Business

Illinois commercial real estate attorneysGrowing a commercial real estate business is no easy task, and the more saturated the market gets, the more difficult promoting your business becomes. To stay in the competition, real estate investors are encouraged to utilize today's more powerful marketing tool: social media. Learn more in the following sections, and discover how a commercial real estate attorney can help protect your business from the most commonly experienced issues in the market.

Why Use Social Media?

Social media use has grown exponentially over the last several years. It is where consumers connect with friends and family. It is also where they gain information regarding where they should spend and invest their money. On the one hand, this is a positive thing, as it gives consumers more choices, but it can also make it difficult for smaller, start-up businesses to attract the kind of attention they need to grow.

Social Media Strategies for Growing Your Business

While much of your social media strategy will be based on the clientele you are serving and the unique aspects of your business, one can turn to some of the most successful commercial real estate accounts to gain some insight on using social media in an effective way. For example, one New York agency uses a consistent theme; they focus on posting high-quality photos of businesses, people, and neighborhoods that are of interest to their consumers on Instagram. Theoretically (and most likely), this attracts new tenants to their buildings.

In other words, to develop a successful and tailored social media plan, you will want to first consider what may be most important to your clients. What are their needs, and how do you meet them? Then focus on using a strategy that pulls them in. Business owners are also discouraged from posting political views, rants, and other statuses that paint them in a negative light. It is also recommended that commercial real estate investors use memes, motivational quotes, and other content that is not related to their business sparingly.

How an Attorney Can Help You Grow Your Business

Social media can attract new clientele, but new clients are only a positive thing when you are adequately prepared. Furthermore, commercial real estate investors need quality protection from the common issues that arise in the industry, such as zoning problems and delays in development. It is in this area that Stock, Carlson, Oldfield & McGrath, LLC can assist. Dedicated and experienced, our Wheaton commercial real estate lawyers prioritize the growth and future of your commercial real estate business. Call 630-665-2500 and schedule your personalized consultation to get started today.


CRE Developers Continue to Experience Lending Troubles

Illinois commercial real estate lawyersTo make a commercial real estate development project a success, one needs capital. Sadly, it seems that lenders are still being stingy with commercial real estate developers. Learn more about the issues that CRE developers are facing in today's lending market (and why), and discover how you can improve the outcome of your next CRE development project with a strategic approach and the assistance of a seasoned real estate attorney.

How CRE Trends and the Recession Have Influenced Lending

Since the Great Recession, banks have been less willing to take risks – especially large commercial ones – but there is more to the lending pull-back than the financial state of our country. Trends in the industry, supply and demand, and even the internet are changing how and to whom banks lend money.

Industry trends have always influenced lending decisions, but this time around, the trends are intertwined with supply and demand. Previous booms, particularly in multi-family structures, and decreased occupancy issues that have caused bankruptcy among developers and owners, are partly to blame. For example, apartment complexes have gone under and had to sell (or worse) because they simply did not have enough occupied units.

The internet, or more specifically, online retail markets, are also influencing CRE lending decisions. More people are shopping online these days, rather than in stores, so physical stores are going bankrupt and are forced to close. Because of this, retail stores – particularly those that lack an online presence – are struggling to obtain lending.

Overcoming the Obstacles in CRE Lending

Although it may not be easy to overcome the obstacles in CRE lending, it is possible – especially if you have a plan and the assistance of an experienced attorney. First, consider which markets are performing well right (industrial, built-to-suit projects and pre-leased office space, at the time of this writing). Is it possible for you to capitalize on these markets? When and how? Could the assistance of a strategist, someone that knows and understands the CRE market, help you take advantage of this opportunity? Is there an expert in the industry that you can turn to for advice? Consider all options and, once you are ready to move forward, contact an attorney.

How an Attorney Can Assist with the Process

At Stock, Carlson, Oldfield & McGrath, LLC, we work hard to ensure that our clients are leveraged for a successful CRE project. Dedicated and experienced, our Wheaton commercial real estate lawyers offer personalized assistance with everything from contract reviews to due diligence. Schedule your no-obligation consultation by calling 630-665-2500 today.


Could Commercial Real Estate Investing Be the Next Big Payoff?

DuPage County commercial real estate attorneysMany homeowners, lenders, and investors suffered a severe loss during the housing market crash of 2007. Others found an opportunity. They were buying, not selling. Why? Because, as every wise investor knows, the market eventually recovers. Sometimes it can take years for that to happen, but the payoff is often worth the risk. Now hedge funds are preparing for the next big market crash; only this one involves commercial real estate. Could it be the next big payoff for investors? Perhaps. The following explains more.

The Perfect Storm

Retailers, big box stores, and malls have been struggling for some time now, but many have managed to hang on, if only by a thread. Unfortunately, it appears they could be in for the perfect storm in this upcoming year. Expert analysis shows that approximately $3.5 billion in retail loans were consolidated in 2016.

Malls, which are reliant on these retailers and the foot traffic they bring, have started struggling as well. The more the malls struggle to bring in business, the more stores that close – and so goes the cycle of devastation. It is this cycle, paired with topped out commercial real estate prices, which has experts believing the market is about to crash. Those same experts are ready and waiting in the wings, hoping to cash in on the misfortune of others.

Investing During a Market Crash

Although it is possible to turn a profit by procuring distressed properties, there is also a significant amount of risk involved. Understanding these risks, including what they are, why they exist, and how to mitigate against them, is crucial to successful investing. Unfortunately, because each market is varied, each property is unique, and each investor's vision is different, blanket statements are ineffective at guiding those who hope to bet against the market. Thankfully, a commercial real estate lawyer may be able to help.

Benefits of Hiring a Commercial Real Estate Lawyer

Commercial real estate lawyers are not always necessary, but they are always advised. Not only can they assist you with the legalities, such as closing and due diligence, but they can also help in weighing the pros and cons of a potential property.

Learn more by contacting Stock, Carlson, Oldfield & McGrath, LLC. Committed to your best interest and financial future, our DuPage County commercial real estate lawyers offer seasoned advice and sound legal counsel. Schedule your personalized consultation by calling 630-665-2500 today.