By fostering a culture of collaboration and innovation that leverages charismatic real estate personalities, corporates can unlock vast PR and branding opportunities on a global scale...
In an era where corporate narratives about “culture” and “innovation” are carefully cultivated, last week’s departure of Robert Knakal, a prominent figure and leading fee producer from JLL, has captured significant attention. It highlights the growing importance of personal brands and social media within the upper echelons of real estate brokerage, sparking intense debate among professionals as evidenced on platforms like Wall Street Oasis and X formerly known as Twitter.
After news of Knakal’s departure broke, it was widely reported that JLL responded as follows: it will prioritise clients first, the firm second, and the individual broker last. Some claimed this is JLL attempting to emulate an investment banking approach.
The management style, while principled, highlights a potential culture conflict: the challenge a traditional business faces when integrating charismatic personalities who leverage social media to enhance their personal and professional brand. These individuals demonstrate an exceptional capability to cultivate an international online presence at minimal cost, attracting client interest and, consequently, lucrative business leads from wherever they choose to operate.
In the UK, individual CRE professionals are also developing a symbiotic relationship between the corporate and their personal brand online. Take Edward Gamble of ACRE Capital Real Estate LLP and Shaun Simons of Compton who have garnered a significant following through their regular online engagements and brokerage uses of social media.
In a similar fashion in the legal realm, top London lawyers Mishcon de Reya LLP’s Partner Susan Freeman 🎤🎧 is synonymous with PropertyShe on X and her successful podcast features a wealth of leading Landlords, fund managers and property entrepreneurs. Podcast reviews provide a clue as to why audiences want to hear directly from authentic individuals behind a corporate brand:
“Great to hear such senior real estate figures talk so openly about their experiences and ideas for the future!” Apple Podcasts. 3 years ago.
On the client side, the news of Oxford Properties Group acquisition of M7 Real Estate Ltd fades away as investors and other operators now turn their attention to its founder Richard Croft as he embarks on a new Pan-European adventure. His social media and online presence simply underscores how an already prominent personality is increasingly able to lead investment interest elsewhere in the real estate world.
At the highest end of global real estate, Blackstone‘s executives lead from the front on social media. Stephen A. Schwarzman and former head of global real estate Jon Gray are all in on LinkedIN. This week’s photo opportunity to put shovels in the ground for Blackstone’s new office in Berkeley Square would have traditionally been relegated to the back pages of a newspaper. Today this public event is organised via Blackstone’s online media machine: converted into a stream of blog articles, videos and vibrant punchy collage ‘shorts’ to connect with followers of all ages around the world in schools, universities, homes and workplaces. Personal brands are smartly leveraged for the wider benefit of Blackstone across social media.
This shift towards the significance of individual online branding over traditional corporate branding is now recognised across the management industry. Scott Galloway, a Professor of Marketing at NYU Stern School of Business, highlighted at the 2023 Cannes Lions International Festival of Creativity that we have transitioned into a product-focused era, moving away from the “era of brand dominance”. He also raises the clear effect of charismatic leaders who drive success, challenging conventional marketing strategies and advocating for a more integrated and complex approach to brand building and customer engagement.
In essence, the synergy between corporate brand, team culture, and individual employee brands can become a formidable force when harmoniously integrated. Bob Knakal’s prominent display of JLL’s logo in his “Success Stories” circulated online worldwide was one small example of how there can be a mutually beneficial relationship between JLL the corporation and its uniquely-branded individuals.
Modern managers appear to be embracing social media platforms (see Fig. 2 below), particularly LinkedIN for business. In our highly-sociable real estate sector and evolving hybrid workplaces, it will prove increasingly difficult to ensure that star performers and authentic individuals remain part of the corporate wallpaper.
A collaborative culture that engages customers by promoting both individual and corporate brands to greater heights can grow the pie for everyone in the team.
