Become a Local Real Estate Expert

Become a Local Real Estate Expert

Of the many titles that realtors may give themselves, one of the most common is being a “ local real estate expert ”. It’s a title that may sound somewhat vague, but the truth is that becoming an expert in your local market and presenting your services to buyers and sellers can give you a leg up on the competition.

However, it all starts with understanding just what it means to be a local real estate expert so that you can fully demonstrate your services to the public.

Getting First Crack at the Best Deals

The better you know the local real estate market, the more likely it is that you’ll get the first shot at the best deal in the area. This is because your focus will allow you to sign up for email newsletters, MLS updates on a frequent basis and other leads that can get you the information about new homes going up for sale. The more you can make yourself an expert with the best knowledge of a particular area or community, the more that potential buyers and sellers will seek out your services.

Up to Date Prices

By focusing on the day to day changes in the local market, you can keep up with all the latest prices. This is very important because changes may signal a real deal in the making that you can help buyers or sellers take advantage of to make the most out of their efforts. This is especially true if you see listings that do not sell under a certain price, it could mean that a lower priced home would sell very quickly. The real estate market can shift rapidly from week to week in terms of favoring buyers or sellers and being on top of it will help you become a local real estate expert.

Differences in Properties

Sometimes the seemingly small differences in properties can add up to significant amounts of money. For example, an issue with the plumbing in a particular neighborhood, an unusual or unattractive feature or even a neighbor that has created such a reputation for being unpredictable can actually drive down property values. By paying attention to the small details, a local real estate expert can provide valuable information that may save a client many thousands of dollars.

Seeing Future Trends

As complex as the real estate market is, even locally, there are trends that establish themselves which you can recognize just by seeing familiar signs. Also, sale prices that are in the pipeline can have a considerable effect on the market after the purchase has been made. By keeping track of what might happen, you can stay one step ahead of changes in the marketplace.

Understanding the Relationship Between National and Local Trends

Many people will hear the national media speak of trends in real estate as if it affects all parts of the country. Real estate is primarily local and what happens on the other side of town may be unrelated to your community, much less what happens on the other side of the country.

Naturally, as your reputation spreads, you’ll be seen by more people as an expert in the local real estate community and more people will take advantage of your services.