From CCIM Institute:
Although location-based social media platforms are used by a relatively small percentage of the online population now, their current growth mirrors other successful services such as Twitter. Commercial real estate investors, property managers, developers, and brokers can use these new tools to generate buzz and differentiate their properties in a particular market.
However, commercial real estate professionals must be strategic and deliberative in their approach. It is not enough to simply create places for people to check in; users must have a reason to check in and post positive commentary.
More at On Location | CCIM Institute.