How To Become A Real Estate Neighborhood Expert Using Technology and Social Media

Why agent no longer need to spend decades and huge amounts of money to become the go-to guy in their neighborhood

When you are running a small business the most effective way to make progress fast is to specialize in a niche and ace it. People from certain groups, ages, buying power, preferences can make up your niche in real estate. Becoming an expert in a certain neighborhood(s) also will help you introduce yourself as the go-to agent in your area. After all, a neighborhood expert sounds much more convincing than those who cover a large area. In this article, we will have a review of why real estate agents should become neighborhood experts and how the can do so.

Why Real Estate Agents Need to Become A Neighborhood Expert

Being a neighborhood expert may sound like a lot of work for little payoff to some agents. However, real estate is inseparable from the make-up of neighborhoods and cities. Cities are too big to be covered by entry-level agents but neighborhoods are definitely worth a shot. Here is why you should take that shot:

Digital Advances Make It Possible in A Short Time

Not long ago becoming the neighborhood expert was not possible unless the agent spent a lifetime (figuratively) in the area working very hard for the label. They would have had to host hundreds of open houses, mail enumerable posts cards, and knock on almost all the doors in their neighborhoods to be known as the go-to-agent in the area. Imagine an agent asking for referrals year after year in order to be considered an expert. This seems a long and arduous task.

Today agents do not have to spend as much time and money to get the same kind of reputation for their real estate business. Time and money are replaced by social media and technology to create the same effect; only faster. Even those who traditionally dominate the neighborhood in the offline world, have turned to social media to rule in the online world too.

Not Every Agent Claims to Be A Neighborhood Expert

It is often ignored that home buyers first choose the neighborhood. Being the neighborhood expert will attract those thinking of buying a home in the area. Neighborhood experts are a step ahead of the other agents in that area. Agents tend to focus on their ability to find the best homes for the best prices, fast sales, and purchases, etc. What does not get mentioned a lot is if they are an expert in the neighborhood. If you take a look at agents’ bios, some state that they were born in a certain city and lived there a long time. They will stress that they know the city well. This becomes one of the strengths they can offer.

Not all agents will have grown-up in the area they work from, or have that natural familiarity with the area. Becoming a true expert in your neighborhood will give you an edge.

People Trust People

You can google a neighborhood and find some basic information. This information, however, is too general and almost always fails at generating answers to the buyers’ questions. Even those websites offering in-depth analysis for neighborhoods, often use statistical data about the population, crime rate, etc. Perspectives about the quality of transportation, education, and local facilities and amenities do not get much attention.

Therefore, an agent who knows the neighborhood like the back of their hand is a true gem for those who are thinking of buying a home in the area. Even those who want to sell would rather work with such an agent. They assume an agent well versed in the area will be able to present the home better and make a faster sale. The context you provide for statistical data is what makes such data valuable.

How to Become a Neighborhood Expert

Now that neighborhoods are becoming even more important in real estate, let’s see how you can stand out as a neighborhood expert:

Pick the Right Neighborhood

In order for this to work, you need to choose the best neighborhood for you. Now, what could be the best option for you? Unsurprisingly, the one you live in. That’s right. Forget about other interesting neighborhoods and stick to the one you live in. The exception being, obviously, if there is little real estate business going on there. In fact, your neighborhood and its immediate surrounding areas are your best to start. You are familiar with the areas and the chances are the people in the area know you.

However, if your neighborhood does not have any real estate business going on consider other neighborhoods with these criteria:

Spend Time in The Neighborhood

Spend some time driving and walking the streets of the neighborhood to familiarize yourself with all the homes and properties and also everything else there is. You want to know what to say when you are talking to home buyers and sellers in the area. Knowing the neighborhood well will impress potential clients and prospects. Even those you meet daily will like this level of familiarity coming from a real estate agent.

Understand Property Values in the Neighborhood

This one is pretty obvious but in order to become an expert, you need to focus on this even more. Understanding the difference between different properties in the neighborhood and their value, alongside market trends will make you more confident with presenting yourself as the go-to agent in the area. You need to always be learning more about the place and its trends.

In order to get this deep insight, you need to devote some time. Visit every home in the neighborhood you can. Every property on the market should be visited so that whenever somebody talks about it you can say: “Oh, I know that home”. You should know each home’s main features, advantages, main issues and drawbacks, even the floor plans and the layout of the yard. Being an expert means knowing the properties in the neighborhood by heart.

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