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Broker Best Practice: Embracing Your Market’s Character

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By Nick Caruso

Regardless of what is going on nationally, real estate is a local industry, and understanding your local market is key to success as an agent or broker. In the following interview, Tammy Randles, the President of Realty Executives SELA in Metairie, La., gives us some wise insights into embracing your local market.

Randles_TammyRegion served: Southeast Louisiana – New Orleans and surrounding parishes
Average time on market: 79 days
Average sales price: $160,000
Must-have technology tool: Websites with IDX feeds and auto drip campaigns. These tools afford us the ability to work with many clients at one time and wisely use our time. They also allow us to put lead capturing on autopilot.
Most important thing you learned in 2013: Adaptability. You have to adapt to the market, the people you serve and whatever comes your way.

What do you like most about the region in which you work?
The New Orleans area is a very diverse area. It has character not only in its properties, but also in its people. We have floods, hurricanes, soil subsidence and we are under sea level, but the people of our city are tenacious and do not give up easily. In addition, it’s the largest small city. Everyone knows everyone, so you better do a good job if you want to stay in business.

What strategies do you have in place to successfully reach out to first-time homebuyers?
Our firm participates in first-time homebuyer seminars put on by our local REALTOR® board, area lenders, and even different parishes when they have funding assistance programs available. We also hold buyer education classes either onsite at our offices or offsite at churches, businesses, organizations and trade associations.

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