5 Ways You Can Become a Neighbourhood Expert

Real estate agents play a very important part in the home-buying process which is why it is important to really know the neighbourhood you (as an agent) are working in.

People do not just buy a house; they buy the area, too and they want to know what exactly is going on in the neighbourhood.

Buyers often have neighbourhood regret when they find themselves in an area that does not match their wants/needs. As an agent, you must become an expert in the house and its surroundings. And the only way that is going to happen is by accumulating enough data across a number of fields:

#1 – Get to know the neighbourhood

It is easier for a real estate agent to sell a home in a neighbourhood they live in because they have first-hand experience. Makes sense, no?

It will also be easier for them to get hold of data from the local authorities in regards to house prices and market-related figures. They can easily point out homes that are close to schools, shops, parks, and other amenities.

Many agents that are on community groups on social media can also give insightful information regarding the neighbourhood. Agents who do not live in the neighbourhood might need to do more thorough research in order to answer any (more difficult) questions the clients might have.

#2 – Use the data to learn the neighbourhood’s story

You can learn a lot about a neighbourhood by comparing market-related figures but is that really what your buyers want to hear?

They want to hear the story about the area and what they can expect when they buy there.

There might be a cluster of nightlife spots or shopping centres in one specific area and that is what is driving the house prices. You can explore different reviews and homeowners’ opinions on these businesses to see what the consensus is before talking to your client. 

#3 – Get to know the locals

This, of course, is also easier if you live in the neighbourhood but if you are unfamiliar with the area, you will need to do some groundwork.

Talking to the locals will give you a better understanding of the neighbourhood’s atmosphere and how homeowners perceive it.

They might be comfortable sharing their personal experiences with you and you can use all of this to supplement the story of the neighbourhood. You might also learn which homeowners are moving soon, which businesses are closing down, and which businesses are opening up. 

#4 – Do follow-ups on the neighbourhood

Neighbourhoods can grow from family-friendly areas to trendier communities aimed at young people.

This transition does not happen immediately, so it is important that you follow-up on the changing trends especially when you have many listings over some time.

Look for features that might attract your client. If they are young professionals, the new organic food market might interest them. If they are a family of four, you might want to point out that the roads are quiet and safe for them to take walks. 

#5 – Establish yourself as the local, friendly neighbourhood agent

Once you get the feel of the neighbourhood, it is time to make your mark.

Buyers want an agent that they can trust and the more you know about the neighbourhood, the better you can build an honest (personal) brand.

Make sure that you have an online presence, especially on social media. Advertise your services on local community groups or pages and share valuable information that you think buyers might be interested in. You can also leave your business cards at local restaurants, shops, gyms, and other gathering spaces.

Becoming a neighbourhood expert will take some time but it will be worth it when you can make a homeowner’s dream come true.