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.


Illinois Real Estate Group Takes Action on Behalf of Investors

Illinois real estate lawyersInvesting in the state of Illinois’ real estate market is already risky business; the housing market is still lagging from the recession, and now the commercial real estate market is lagging and, perhaps, on the cusp of a crash. Unfortunately, this is not stopping legislatures from trying to impose rent control on both commercial and residential properties. What might this mean for you, the investor, and what actions are being taken to stop the advancement?

Examining the Rent Control Bill

As of right now, rent control is prohibited in the state of Illinois. In other words, property owners and investors can charge what they see fit for their property; generally, this is determined by calculating costs like taxes, the mortgage, maintenance, and insurance. After all that is configured, the investor is only likely to make a small profit. HB 2430, a House Bill that was recently proposed, would lift the prohibition and allow for rent control. In short, it would cut into the little bit of profit that investors currently make from their properties.

Understanding the Impact

As an investor, your goal is to make money off your properties. Of course, you may not make quite as much as everyone thinks you do – but the point is that you do turn a profit. Doing so not only increases your cash flow, but it also provides you with the funds needed to expand your portfolio. On the one hand, this might seem “greedy,” but as most investors know, it is all about being prepared for the next dry spell or market crash.

So what happens if HB 2430 passes? Well, for starters, you might be limited in the amount of rent you can charge. In the best-case scenario, this would decrease your income from a property. In the worst-case scenario, you start losing money on your investment properties. That is why the realtor group is fighting so hard to stop it.

Real Estate Group Campaigning for Investors

Real estate salespersons have jobs that are intrinsically tied to yours, so perhaps they are only looking out for their best interest in their fight against HB 2430. In the grand scheme of things, their motives do not matter. What does matter is the action that you and your fellow investors take against the bill. Not only can this help mitigate the potential risk of rent control, but it can also help you determine what actions can be taken now to mitigate the damage, should the bill pass.

Contact Our DuPage County Real Estate Lawyers

Stock, Carlson, Oldfield & McGrath, LLC has decades of experience working within the real estate industry. Dedicated to your financial future, we can guide you in developing creative solutions and strategies for growing your portfolio. Schedule your consultation with our DuPage County real estate lawyers. Call 630-665-2500.