Who knows the lay of the land? A local property expert does! They know the area like the back of their hand, everything from the best place to get a Greek gyro to the most sought-after school. If you want to become the ‘top of mind’ estate agent for a region you need to become THE local expert.
Being an expert in your field is a powerful USP – in fact, it’s probably the strongest one you can have. It means you add real value to your client’s home moving journey. Having in-depth knowledge of the neighbourhood can boost your success rate and justify your fee.
Any salesperson worth their salt knows their product inside out. Estate agency is no different. You’re selling a neighbourhood, so you need to know the area exhaustively. This will give you a strategic advantage over your competitors and it empowers you to serve your clients better. Being a local expert holds weight, if you’re plugged into the local scene, enquiries should come flooding in.
What is a local property expert?
A local property expert has a deep understanding of the area and spends a lot of time in the neighbourhood. They have insights into the local property market and the trends and demographics of the area. They know more than the vendor. Remember that the homeowner has likely already researched the value of their home by comparing the prices properties nearby have sold for. The value a local property expert brings to the table is being able to provide much more than just the property price. They are equipped to answer any question the vendor may ask. The decision to list a house with an estate agent is based on trust, if an agent is stumbling over numbers or providing the wrong information, trust is diminished, and the vendor will likely instruct elsewhere.
To become a local property expert, you need to immerse yourself in the local area. A local property expert knows everything there is to know about the local landscape and all the idiosyncrasies of the local market. They know the travel links, the best restaurants and school catchment areas. They know which areas are up and coming and where future developments will be. They are heavily involved in supporting local charities or running their fundraiser events and initiatives. A local expert is seen and talked about; their brand is at the forefront of all key community initiatives. They know where property values are climbing and falling and where the investment opportunities lie. Each neighbourhood has its unique characteristics, and you need to understand the nuances of the area as well as any laws or regulations. All of this will help you to advise your vendors accurately and negotiate effectively to achieve better outcomes. You’ll become a credible and trusted source. You will become a go-to brand.
Top tip – It also pays to know the stats of neighbouring towns so you can compare these with your area.
What are the benefits of being a local property expert?
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You’ll produce more accurate property valuations
When you know exactly what properties in the area are selling for, you can ensure each property you value is priced in line with current local market values.
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You’ll grow a network of connections and receive more recommendations
When you build up a network of buyers and sellers, this can result in faster transactions and more recommendations. You can also recommend solicitors, surveyors and mortgage brokers to your vendors, adding even more value.
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You can position yourself differently from your competitors
Being a local property expert distinguishes you from your rivals. It communicates to the vendor that you offer more than just a standard estate agency, giving them a compelling reason to choose you over other agents. The bonus of a local property expert is that you can add the human touch. You can go the extra mile because you have an ‘on-the-ground’ presence. This allows you to be more attentive. If a buyer is unfamiliar with an area, you can help them to better understand the locale. For sellers, you’ll know the best time to sell a home.
How can you become a local property expert?
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Create content about the local area
To be a local expert you need to prove you know about the local area! Create an area guide for your website. Include relevant information such as a map of the area, key stats, school lists and places to visit. Just this simple addition to your website will set you apart from other agents.
Create content about the local area. Write blogs such as ‘The Top 10 Things to See and Do in [Town],’ ’10 Reasons Why [Town] is a Great Place to Live,’ or the history of the area. Create reviews of local restaurants or talk about upcoming local events. For your social media platforms re-post local news stories and promote what’s happening in the neighbourhood. You could even share your memories of the area. Maybe there was an indoor waterpark that everyone went to as a kid or a popular cinema or concert venue that was knocked down. Nostalgia will get local people talking! Post an old photo of the area and what it looks like now or take a snap of an area and invite people to guess where it is in the town. You could even send out a local newsletter to highlight local events or hotspots.
Creating this type of content is ideal for SEO as it will drive traffic to your website and social media. You’ll also capture buyers who are considering moving into the area. The more you position yourself as having a deep understanding of the area, the more buy-in you will have.
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Invest in the most accurate data
Knowledge truly is power. Data will empower you to become a market authority. If you have access to daily market figures, you can equip yourself with this data and prove to the vendor that you know your stuff and that you’re the best agent to sell their home. Of late, the media has depicted the property market to be slow and struggling. With data, you can prove that the situation is not as dire as it is being portrayed. This will give the client confidence, not only in the property market but in your expertise. See our guide here on how to choose the best data source and tools to help you stand out.
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Stay active in the community
You need to show you genuinely care about the community. Give back by attending fundraisers such as food banks, tree planting initiatives or by sponsoring a local sports team. Support local businesses and recommend them to others. Connect with neighbourhood watch groups and property owners’ associations. Regularly speak to residents and business owners to get your name out there and become a familiar face in the community.
Join online groups and message boards so you know what’s happening in the local area. Create a business page on Nextdoor so people can refer you and keep an eye on what residents are talking about. You could even create a local Facebook group yourself to drive engagement from the community. You’ll not only become a familiar face but a trusted resource and display your dedication to the neighbourhood.
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Attend local government meetings
The topics discussed at local government meetings directly affect the estate agency market such as traffic, zoning, public works and development plans. You can stay well informed about these upcoming changes that may affect property values and market dynamics. It also has the added benefit of networking opportunities. When attending these events, you can act as an advocate for the community, supporting improved infrastructure or affordable housing initiatives. By being actively involved in local government, it demonstrates your commitment to the community.
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Create a list of recommended businesses you support
Create a list of painters, handymen, electricians, plumbers and so on that you can recommend to your clients. This is a great way to cross-promote as they will likely reciprocate if their clients need an estate agent.
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Create video content
Create tours of local areas and walkthroughs of neighbourhoods. These will be invaluable to people from outside the area to get a real sense of the town. Again, it’s great for driving traffic to your website from those looking to find out about the area.
Next time you’re meeting with another business, create a video and talk about what they do then share it on your site and social media. Tag the business to leverage its audience. This will help you gain local influence. If there’s something in the news related to the property market, make a video about it. Local news stations may pick this up and ask you to go live on their show. This serves as an additional promotion for your agency.
Conclusion
Real estate is inherently local. Perhaps the current trend towards the self-employed agent model is a testament to how important it is to be a local expert. Many homemovers want that personalised service from their agent. They want an agent who is in tune with the local area. This is how you create trust - and trust, as we all know, converts into instructions.