Becoming a neighbourhood expert
Honing in on a certain region or neighbourhood in a larger city can focus your efforts and help you stand out from a crowd of agents, giving your business a boost. Here are a few tips on becoming an expert in a specific neighbourhood.
Choose your focus region wisely
There are several reasons why you may choose to focus on a certain region. Perhaps it’s where you currently live, an area that you grew up in or a neighborhood that you like and know well. It doesn’t always have to be the hottest market either — focusing on an up-and-coming region is a gamble that could pay off if you can establish yourself in a community before the competition moves in.
Spend time in the neighbourhood
If you don’t currently live in the area or it’s been a while since you have, visit the neighbourhood often. Become a patron of its shops, cafes and restaurants any chance that you get. Drive around the region to see what types of housing exist in what areas and to discover which communities have plenty of ‘For Sale’ signs on their lawns, or if there are a lot of new developments or major renovations happening.
Do your research
Immerse yourself in market data so that you’re familiar with average selling prices as well as the price per square foot of homes in the neighbourhood. How long is it taking for homes to sell? What types of properties are most popular? You should also closely follow local news in the region so that you’ll stay abreast of important topics. This might be how you’ll find out about school openings, closures or new developments.
Engage with the community through direct mail
Once you feel ready to dive into your focus area, take advantage of direct mail to help build your following in the neighbourhood. You can begin building brand awareness with a client well before they’re ready to work with you. On average it takes multiple points of contact, or touch points (up to 24), before a client closes a sale with you so targeting homebuyers and sellers in a specific community can help you establish this relationship early on.