For brokers, real estate booms online

A recent article in the Denver Business Journal (subscription required) points out that a growing number of Denver-area commercial real estate brokers are using Craigslist to market their listings.

That’s right. Craigslist.org, the San Francisco-based online classified listing service, is no longer just a place for college students to find cheap furniture. It’s now proven itself to be an extremely effective tool for marketing both residential and commercial real estate across the world.

It’s not surprising, really – as people grow more confident with technology, online shopping continues to experience explosive growth.

Forrester Research’s annual Holiday Retail Forecast projects that US online holiday retail sales will be up 8% this year, and a recent census bureau report showed this year’s ecommerce sales growth outpacing brick-and-mortar sales by 10%. In a slumping economy, online shopping is still going strong.

Additionally, the latest generation of homebuyers and small business owners grew up with the internet at their fingertips. While nothing can replace the effectiveness of a customer seeing a property in person, those Realtors who embrace internet marketing are much more likely to catch their attention.

And that’s where Craigslist comes in. It’s a simple way to reach a demographic that you won’t find on Loopnet, CoStar, or any of the other commercial real estate listing services (but an increasingly-qualified demographic, nonetheless).

And the best part – real estate listings are entirely free (with the exception of brokered apartment listings in New York, which require a $10 fee).

Of course, as a commercial real estate broker, it’s not enough just to throw up an ad on Craigslist. It should be just one part of a comprehensive internet marketing strategy. Twitter, Facebook, and email marketing are all excellent ways to build relationships with clients and promote your business. And an optimized website is crucial for advertising your services and capturing leads.

But given its incredible potential for ROI, Craigslist should definitely be a part of any residential or commercial Realtor’s internet marketing arsenal.

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