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Building Social Capital

At the ReBar Camp in Chicago, Bill Lublin did a session on Social Capital. That subject has stuck with me for a over a month and I have been mulling around in my little head.

What is Social Capital?

According to Wikipedia:

"Social capital is a social science concept used in business, economics, organizational behaviour, political science, public health and sociology that refers to connections within and between social networks. Though there are a variety of related definitions, which have been described as "something of a cure-all"^[1] for the problems of modern society, they tend to share the core idea "that social networks have value. Just as a screwdriver (physical capital) or a college education (human capital) can increase productivity (both individual and collective), so do social contacts affect the productivity of individuals and groups".

Social Capital is basically how we think and interact in different groups. The groups can be IRL (In real life) or our Online Social Networks, like on Twitter, Facebook, Linkedin and Activerain.

I don't know about you, but I relate somewhat differently on all the social networks. Some people are good friends, some are aquaintances, and some well.....I don't really know them at all.

Build Social Capital don't break it The point Bill asked the group at ReBar Camp was how do you feel if someone violates in some way the Social Capital of a relationship?

I like to think of it like this, when a new relationship starts you start with a full glasses of good will. As you interact with that person you are either adding to the relationship or taking away from it.

A good experience with a person adds good things in the glass. A bad experience takes away from the relationship. So you are either adding or taking away from the social capital you have invested in that relationship.

Here is an example:

Lets say you accept a friendship with someone on Facebook, and all of a sudden they violate that friendship by spamming you with listing in Timbucktoo?

Now I'm not going to ever live or sell in Timbucktoo, so how does that make you feel?

Now, I don't mind seeing your listings on Activerain or Facebook or you even Tweeting about them, but I don't really need to have email box full of new listings in an area of the country, that I am not going to sell in.

How to Build Social Capital

On Activerain we invest and grow our Social Capital by reciprocity. We comment on others blogs, we encourage them.

You build Social Capital with your neighbors when you mow their lawn, pick up their kids, etc..

You build Social Capital with agents in your area, when you call them back, return messages, and negotiate in a civil manner.

You build Social Capital when you interview and promote a local business through blogging.

Engagement

How many people can you really get to know on social networks? I know sometimes a random comment on Facebook or Twitter can afford you the opportunity to get to know someone. Something you said sparks a comment or two and a friendship can develop.

Social Networks are great for communicating with people all over the world. However, even in the World of Internet Social Networks trust is still critical to engage and get to know folks. I use Linkedin for Professional Information, Twitter for well.......many reasons. Facebook now that it allows up to set up our different groups is more manageable. I like it better.

Building Social Capital is about giving and not just taking.

I have quit just being friends with everyone unless they tell me how they know me on Twitter and Facebook. Last night I was scrolling down and someone put a porn poster on my site, at the bottom. That is not who I am or what I want on my site. He violated my Social Capital and was deleted.

Now go build some Social Capital. Give and it shall be given unto you, pressed down and running over.

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Posted by Missy Caulk-Ann Arbor- Realtor(R)- Ann Arbor Real Estate on 07/20/2009 07:03 AM

Comments (80)

Building Social Capital in the ActiveRain Channel

social networks, social capital

Originally posted at: Ann Arbor Undressed : Building Social Capital

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80 Comments on Building Social Capital

JUL

Social Capital is just plain good sense! Like don't be the jerk at the party that talks so loud and about only themselves! I too have been getting a lot of those listings from everywhere in my inbox!! I'm intrigued when I see people on FB or Twitter with all those followers/following each other. I agree with you Missy - how many people can you really get to know? I prefer a smaller group of close friends that I have a chance to get to know better... and help if I can.

Ahhh Missy - this was wonderful.

As I read I realized it really is like real life friendships and acquaintances. We contribute, we care, we share, we treat each other well, -or- we're not invited back! (Just like the guy who met your delete button :-)

Missy,

Great blog and education on social networking. Awesome.. see you at Mega Camp

You really do need to be careful in how you interact with others online. Everyone has different viewpoints on things and what could be humorous to someone else may be in poor taste to others.

Missy, I too have and share your concern. Twitter and Facebook, more so facebook appears to have made contacts with different people. I am still here on AR and enjoy this community the best. Yes a porn star may need a new home but I am not the guy to sell it to them. Great post. Hey it almost Football Season. LSU is ready how about your Big Blue?

Hmmm. Sounds like we all need to learn how to relate to people again. Kind of like people used to do when they hung out on front porches before air conditioning was invented.

Missy - Great points and description of the value of social capital. It is priceless. I agree, it is about giving and not taking. Most people do not realize either that the more they give the more that ultimately is returned, and more.... Life is beautiful. Is great to connect with people who are on a similar wavelength in terms of values and beliefs, especially when it comes to Real Estate and business ! After all, if you refer a buyer or seller to someone in a different city, you really want to make sure that that person will treat the referral similar to how you would treat them.

Frank, I think we will win some more this year. LOL GO BLUE!! Yea AR is the best we gather around our industry. But, I also participate in some social networks that have nothing to do with real estate. NavyMoms is one of them.

Kris, Bob, Social Capital has been around for years it is just now taken to the online world. So yes we should behave the same as IRL.

Bill, exactly!!

Lori, I hope I can make it this year.

Lee and Pam, I have about 2000 followers on each, but now that FB has groups, I rarely visit most of them except my blogging friends, family and high school-college buddies. Getting ready to set up a group for my past clients on FB.

Stephanie, yes important for referrals. When Bill shared the concept it put into words what I had been thinking but couldn't put a word to it.

Missy - great info. I like the term Social Capital. THis was a great Monday morning "read" before heading out on a busy productive day!

Christine, thanks have a good day.

Good analogy with the glass of good will. It's a tough new way to interact that doesn't always end up to get you good business referrals or just good will. We have to live and learn and give it our best efforts along the way.

I like your take on this topic. Thanks for sharing!

Missy,

You're the Queen of Social Capital. "Good measure, pressed down, and running over!"

Mike in Tucson

HI Missy, excellent points here .. in a world that seems to b e overrunning with greed and bad manners, it is time for a new alignment of manners. I think that is the whole crux of this ... how to use good manners and sense and form relationships that are meaningful, either in business, personal or family life. Well deserving of the Feature

Good reminder. I two have not added people to Twitter in months. If they want to follow me that is fine. I have so much "crap" coming in now it deters me from even using it.

Hi Missy -- It's interesting to see long-held theories play out in real life.

Steve, LOL if I don't know them then I don't follow back. If I do I will. Except for local Ann Arbor or Michigan folks who I want to get to know.

Mike, thanks

Gail, everything I learned I learned in kindergarten, right?

Hi Missy, this is a great time to thank you for all that I have learned from you during these past 2 years - - by watching you and your example, you have given me a great education and taught me a good bit about being 'socially correct." (I know you did not teach me to use naughty titles, but they get so much attention!). Thank you so much.

Missy, Great stuff as always, coming from you :) I need to learn how to best use all of these social tools. I am on "overwhelmed" status right now.

You are so right saying it is a give and take. I am not following everyone that follows me any longer on Twitter. I've learned that so many I did follow in the beginning were just full of spam. On the rare occasion that I do log in, I see so much "spam" from many that I follow, with NO social interaction what so ever. They need to read your post!

Have a great week my friend.

This is a good post like others had said, I like building the relationships on these social medias but there's nothing like meeting face to face. I mean that can happen through here. I've seen the listings people post or some advertisements they sell but I look at as someone trying to get noticed. Though overall I like what things you touched on. Have a great day

I love the well thought out presentation of these ideas. Social media seems to have become just as important to our success as face to face networking. I think we all need to heed the same principles as well - it becomes much easier to type something you would never say or do in person. That could destroy relationships and reputations if you are not careful. Thanks for putting this all together!

Yes, I'm thankful for the "lists" on Facebook also, but have not finished going back and organizing them all. I really like your suggestions on building social capital.

Great post to start the day. Now, I'm off to build some "social capital" making baklava with the ladies at church who don't have computers! Sometimes we forget that group!

Missy...frankly, I've never heard of this. It makes sense. I think that a purposed investment in creating social capital could work very well for me. I need to know how to do it better, but I'm committed to doing this. Thanks M.

Great advice, as usual. I like LinkedIN because it's professional and allows us to connect with clients and former corp co-workers. I really control who I follow on Twitter, especially since getting my Blackberry. Just don't want all those spammy tweets since I can't set it up like TweetDeck. I find I'm using Twitter more as a news feed and to stay up on what's happening locally. Just as we say about our blog posts, quality trumps quantity.

Missy,

"On Activerain we invest and grow our Social Capital by reciprocity. We comment on others blogs, we encourage them."

I like that! But, then I need allot of engorgement encouragement with my fragile ego.

Thanks,

Bill

Missy - This is so true. Building up social capital takes time, and it can be swiftly destroyed. Terrific job of explaing this concept!

Missy, Building social capital online is interesting because we may never meet the other person in real life. We are building trust and friendship via the written word. As Jason says, building social capital takes time and it can be destroyed in just a few swift keystrokes. I've been interested in social capital for a long time because of my role as a community activist. People build up a web of supporting relationships and a bank of good will when they live in the same community for many years that they can draw upon, just like drawing money out of the bank, when they need it. When people are forced to move from their community to downsize or relocate for work, they lose that social capital. If you are young and healthy, you can build that social capital back up again in your new location, but as you get older, if you break your hip, only neighbors who have known you for many years will be bringing soup to your door.

Missy, there's even a term for it: whuffie. Tara Hunt wrote "The Whuffie Factor", and in it she desccribes how the building of social capital can translate into business for anyone who is engaged on-line. But I like how you pointed out that social sapital isn't limited to what we do on-line; it can develop in our neighborhoods, etc.

Excellent post Missy. I'm glad you shared with us, and I agree with all you've said. I, too, have had a number of folks folllowing me, connected with me and befriending me on all of these sites, and the first time someone abuses that relationship, I have to dump them. I don't want my potential clients to think I approve of some of the things I would never post. I have gained a lot from all, though, including clients - but AR is still where I have made the best friends (and the most clients)!

William, I have heard that, just didn't understand what it really meant. I'll take another look.

Gail, you got it and what a great example. When my mom passed away, my brother and sister-in-law were flooded with food. I mean BEFORE we got home from the hospital. It was amazing. Thanks for sharing a beautiful example.

Bill, LOL

Elaine, well I don't get any tweeks on my phone. I did for about one week and hated it and took it off. Now I just check in for any DM during the day. I also a app that emails me when my name is mentioned in a tweet. That does come on my phone.

Lori, PERFECT example.

James, face to face is the best. When you have been communicating with folks online then meet face to face...it rocks.

Elizabeth, lots of spam on Twitter, or tweeks you don't care for. (unfollow) and I never look back.

Shelia, yes it is all out there. We must be careful.

Larry, me either until Bill spoke. Nice to put a term to what I was feeling.

Susie, you made my day!!!

Susan, ditto for me too. AR rocks and the people I have met here are wonderful.

Missy, this was a VERY well thought out and put together blog! I got quite a bit out of it, and appreciate your taking the time!

Reltionship building is as old as it comes. ALl we really do is change the name once in a while! LOL

Sphere of influence is big, and I consider AR, and others as just one more part of my sphere!

Thanks!

Darin

OMG! A porn poster? I would have flipped out! I like the analogy of starting the relationship w/ a full glass. I too have connected with people and then felt that they abused my trust by spamming me with reminders, invites, you name it. I'm there to connect, not have my inbox filled up!

Missy, thanks for this well thought out post. It really makes me think about social capital. I need to go to Twitter and facebook and do some uncluttering.

hi Missy, well said! Especially "Here is an example: Lets say you accept a friendship with someone on Facebook, and all of a sudden they violate that friendship by spamming you with listing in Timbucktoo?"...

The recent flood of Facebook Fan Pages invites is a good example. Most aren't relevant when the topic is local. I tend to give much more slack to people I know thru sites like AR but somtimes this stuff gets way out of hand.

I hate when I see - get 1000s of followers for only $20 or something. It isn't a numbers game to see who can get the most friends or followers. It is truly about engaging to make it work for your business

Hi Missy!

You are a pro at Social Capitol, and you add value to the people you know here on A|R. Unfortunately I don't really use other social networks so I can't guage you on them, but as for A|R, you are awesome! :)

-Lisa

I've never called it social capital until NOW ! Was Bill from Philly ???

Missy: I give everyone the benefit of the doubt, yet have very little patience when anyone messes with my boundaries. I'm not defensive, I'm open, and I'm very optimistic about our growing new cybersphere society. But don't spam me, or try my patience with an unending diatribe on how to get rich on the internet without leaving home! Pull don't Push... Thanks for a great post.

Missy-

Not only is spamming of that sort in violation of mores surrounding social capital, it is a game of diminishing returns. Sooner or later, people will just stop reading the emails or messages you are constantly sending. They need to be fewer, provide true value in some way, and be relevant to the person they are aimed at. I just blocked a normal REALTOR® today on twitter because she literally tweeted the motto on her business card every 15 minutes. I will be exceedingly surprised to learn that has resulted in anything but a negative reputation--certainly no sales will come about.

Hi Missy~ I had been mulling this around as well, since REBarCamp LA..and I love being able to apply a word to a concept. I think that the process of building your community online is that building your own Social Capital should never be an after-thought. And when you think of it those terms it can be more satisfying for both parties:) It keeps me in check too!

I agree with the comment Bill has posted above. Everyone has an opinion or view, it doesn't always side with yours.

Patricia Aulson/portsmouth nh real estate

Missy - I like your view on Social Capitol. It is important how we behave online and put our points across. Thanks for the great blog! - Laurie

Missy...

I just added you to my 'new listing' spam ad campaign :)

P.S. Excellent. Excellent post :)

TLW...ROAR!

Missy! I heard Bill speak about this last week at REBCVB, and I've been mulling it around too. We also had a grand conversation about "I Won't Be Your Friend on FB...." and I came away thinking that this is definately one of those conversations that makes RE Bar Camp so very cool. Thanks for pulling all of this together!

Missy-Congrats on the feature and thank you for this wonderful well written and thought out post. Kudos to you for the wonderful insight. Have a great week. :-)

It never feels good to be "friended" my someone IRL or otherwise to come to find out you were really just another outlet for their sales promotions! Pretty much drains the cup!

Great post. I try to make my social networking a two way street (giving as much as getting), but reading your post makes me reevaluate the way I operate when it comes to online social networking.

Missy, This is a wonderful blog. When I first signed on FB I accepted all friend invitations...now I am more careful and at least check to see if we know the same people. This is a great reminder to be careful and choose our "friendships" online.

Marti, I agree...I do have one, but the reality is not sure why? I can see it for vendors but Realtors in other area's, not sure about. I do think it would be helpful for local people. Regardless, the jury for me is still out on it.

Josh, exactly!

Elaine, me too, it was a great take away from ReBar Chicago.

TLW, can't wait.........

Laura, when I heard the word that is when it I had an ahh haa moment for what I was feeling.

Ian, I agree, when I get notices of listings from local folks after awhile they just go in my spam folder. It's not like I don't have access to the entire MLS.

Rene, that is exactly right, when you feel taken advantage of it doesn't leave much room for friendship. I do post my listings on FB but that is a small part of what I do. I get more responses when I talk about the weather...

Lisa, thanks appreciate your thought.

Naomi, gosh that is one that slipped by me. Now who would do that? Gee that is absurb.

Colleen, I was so mad. But, my fault for friending someone I didn't know from some big box.

Darin, Social Capitol has been around forever, just expanded because we are online and our world grew expodentially. But, the same rules apply in real life.

Carole, Me too...same on Twitter, now if they don't tell me how I know them or I don't recognize them they are ignored.

On FB I post my open houses once a week and I find that people really like that. I hope that my friends do not consider this spamming.

Once you have so many followers or "friends" you do need to start restricting. I usually accept anyone in real estate or friends of others. So far, so good, as I have a good time and everyone seems to respect each other, ie, no listings in Timbuktoo!! Thanks.

HI Missy, great points on the "Give First To Receive later" theme.

A new buzz word was created by Marilyn Wilson from the WAV GROUP and it is making its way through Realtor Marketing- Its called EduTizing. Providing relevant content to your sphere of influcence that is NOT related to a transaction. Getting rid of "Buy Now Why Rates Are Low".. kinda stuff. The idea is when these consumers need to raise their hand and become engaged prior to a transaction they will recall all the unassuming information you provided then through the years. I have been in emarketing for about 12 years and I spend my time convincing agents to become ADVOCATES for their sphere.. not just salespeople. We all know there are too many Realtors chasing too few leads. Those who differentiate become and stay TOP OF MIND.

Al Clark, Gethomeactions.net

Missy; I am so glad that you enjoyed our session at ReBarCamp Chicago. You and your lovely daughters were part of what made that such a special event. Thank you so much for taking the time to mention how you were impacted by our conversation - and showing how you build social captial by example. Big Hugs from Philly - Look forward to seeing you in San Francisco I hope -

Bill

I know that I have stretched some as hard as I dare trying to get the 100 fans level on some of my pages... I hope I had the capital to spend. I do try to work at adding value when I can... But it can be a tough balance sometimes.

Hi Missy - Nice take on the concept of social capital. It's a paradox that it can be so powerful, yet so fragile. What I've been thinking about lately is how we can effectively leverage it (in the same way a politician spends political capital) to go way beyond just real estate.

Thanks Bill, nope not going this year. My son is getting married in Nashville on the 14th and we are going down early. But, I am registered for ReBar Columbus.

John, yes I know I belong to several social networks not involved with Real Estate at all.

Givers gain is the philosophy of BNI, and I think it nicely sums things up.

JUL

Missy, Great information!!! BTW - Congrats on another feature...

Helping you help others live their American dream...

I saw Bill just this past week at a ReBar Camp in Virgina Beach. He did a great job pointing out something that was so obvious yet often overlooked.

Nice post and congrats on the feature. I like the idea of setting up a group of past clients on facebook. I usually use facebook to connect to the people that I've had personal relationships in the past.

Missy, Nice post. thanks for sharing. Yes we all have our opinions, and thanks for all the knowledge here.

www.charlottelakewyliehomes.com http://gmoore.wilkinsonandassociates.com/

http://www.facebook.com/charlottelakewyliehomes

Missy - I feel very socially burnt out now. It seems that it's getting too much over the top hype and realtors that think they do this continues to stay in the fore front - which they are. But in the end, I still enjoy your past post about getting back to the basics of building relationships. In the end, we have to come out of our shell and meet at the person's level.

Missy I love it! This post is so very important as more and more people are engaging in online social networks. One way to increase your social capital: Don't post anything you wouldn't want your grandmother to see!

I am generally careful about what I post. I do have opinions and people can know who I am. Social Networking can also humanize us. You will find pictures of my family on Facebook and things about my kids.

Gene, it does so humanize us, good or bad.

Erin, or your kids who are online too. I had my youngest through a status update at me in her little voice. Embarrassing.

Loreena, being on Social networks can be tiring. So you have to pace yourself. Building relationships in any network, real life to onine takes time and an investment. You only have so many hours a day to engage folks. We have family and our businesses to run.

Jean-Paul Bill is Rockin', he had got it.

Can someone tell me how you manage your Twitter and Facebook so that you are not overwhelmed? Actually Twitter (I'm using Tweetdeck) can overwhelm, nay - distract me -- so if anyone can tell me how you manage your EFFICIENT, EFFECTIVE use of it, I'd be most appreciative. I've always been an avid in person networker so this online social networking is fascinating to me.

Evie in Boulder, CO

Missy, your blog on Social capital is timely and topical.

I contribute a presence to Facebook, Twitter, and LinkedIn and feel that it adds to the dimensionality of the Realtor as a person and social contributor, as I think you do.

It is a bit of work, but like everything else, if it is worth doing,it should be worth doing well.

Joe Pascal, Wilmington, NC Realtor, 5 Star Real Estate

Ok, I admit I didn't read all the comments. If someone else said it, it bears repeating, no one has accumulated more social capital than you!

Missy- What a great post. I do the same thing as you don on Facebook--if I don't know you you aren't getting in. I may be bad but I don't just approve Realtors because they are Realtors. It used to irritate my friends when all the listings were on Facebook. It dilutes my listings one of my friends said. I like to see your listings but I could care less about the listings in Texas. So my Realtor friends on Facebook are truly my friends, I know them well.

Now I am going to go have a glass of wine because your post made me thirsty for one . .lol

First time I heard the term "Social Capital". I like your definition and how you explained it. Great job!

Great point! My associate and I have stopped commenting on some blogs because of non-recpiprocity. If you can't at least acknowledge once in a while, we know longer comment. We may read but not comment. I like your definitions and the way you expressed what should be common sense but needs to be reiterated.

I really like this concept. I wish I could have an IPO to get a lot of social capital.

JUL

I've never thought of social networking quite like this, but I think you make very good points!

Missy - great point, especially regarding watching what others have that might show up in your profile, like that poster!

CONGRATULATIONS ON YOUR FEATURE POST! I really like your take on this subject.

JUL

To tell you the truth Missy our barins can only handle 150 connections max.

It's funny how we go out into the social mediasphere and start accumulating

"friends" with no regard for who they are or what they're up to.

I've made the mistake of adding random people who have violated my trust

much like the person who spammed your site.

The truth is that you get what you put into it. So if you're mass friending and

not really interested in the people you add the same will be true for the people

who add you. Social networking is just picking up speed in the mainstream

and it's up to veteran social networkers to lead by example so everyone else

has a gage of what's right and what's not.

I run into agents in my facebook group all the time that don't have a clue.

Everytime I post an article they comment spam with their contact info. I

used to get so upset about this until a realized that they didn't know any better.

I really think NAR shoujld take a step forward and help agents get educated on

etiquette and effective social networking. Social Media is here to stay, so we

need to figure it out becuase the days of the recipe card are long behind us.

AUG

Interesting post Missy. I hate it when they violate this trust. Deletion is almost always the result. I like the way that you contribute so much on AR. You are definitely building social capital with me.

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