When buyers and sellers are starting their home-buying or -selling journey, the first step often involves finding the right real estate professional to guide them through the transaction. But what makes a real estate professional the right one? Local expertise.
As an agent or broker, your success and the success of your business depends on your dedication and commitment to your community, including the people and businesses in it—and it all begins with building strong relationships within your local market.
Before we dive into how to become the go-to local expert in the market(s) you serve, it is important to understand what a go-to local expert is. In real estate, a go-to local expert is someone who knows their community inside and out, and has a strong presence in their market.
“Being a go-to local expert means you are recognized as an authority who has in-depth knowledge about the local communities, schools, the pros and cons of a specific area, and then offer your advice, wisdom and expertise in guiding them in their real estate needs,” says Julie Tran, a REALTOR® at Berkshire Hathaway HomeServices California Properties.
Tran credits the majority of her business to her past clients and sphere. She has grown her database by participating in and serving on the boards for networking groups and various charities in her market.
“Trust is always the first and best strategy in developing local partnerships for business. Earn their trust, and you will have the business you have always wanted. But it must be genuine, and it must be earned,” she says. “Referrals and repeat business come easily after that. Put yourself out there and get out of your comfort zone to develop these partnerships.”
For Faina Shapiro, a REALTOR® with Berkshire Hathaway HomeServices Northwood Realty, keeping herself educated about the communities she serves helps her development as the go-to local expert.
“This means knowing, but also being the source of the source to my clients about areas that interest them, like the shops, restaurants, taxes, schools, transportation, playgrounds and more,” Shapiro says.
Community involvement and the initiative to develop local relationships is what has made Shapiro successful in her nearly three years as an agent. The town of Medway, Massachusetts, even featured her on their town website, highlighting her involvement and emphasizing her passion for both her community and real estate overall. Check out the video below!
An agent’s job exceeds showing homes and paperwork; you have to be an expert on all things local. Committing yourself to the community is a great way to connect with those looking for real estate services, and an even better way to understand your local market. Olivia Merrill, broker associate at The Agency, suggests getting involved with your community in a variety of facets, from driving through neighborhoods and building business partnerships with local establishments to gaining knowledge about local schools, laws and events.
“The go-to local expert is one that is hyperlocal, who is involved in the community in many different facets,” says Merrill. “Being in the know of all details of the neighborhood allows us to better service our clients in a way where we can connect them with exactly what they are looking for as well as give them up-to-date and accurate advice on the questions and concerns they may have regarding real estate and/or the community,” she says.
In real estate, content is king—and producing market- and local-focused content is not only a smart strategy, but a strong step toward success. Having a strong digital presence is not just a great way to connect with clients, but with local businesses, too.
Marketing active listings across all social and digital platforms is a smart strategy, but there is only so much you can say or post about a property. Posting about neighborhoods you specialize in can help your social following begin to associate a neighborhood with you. From local events and monthly market trends, to new businesses that are opening in the area, featuring the goings-on in your market across all of your digital platforms will inevitably help establish you as the local expert.
“Digital is everything in today’s world,” says Mor Zucker, REALTOR® and team lead at LIV Sotheby’s International Realty. “My team specializes in social media and in utilizing it to put a special emphasis on the community as well as our clients’ homes and/or buying needs.
“We go out of our way to create hyperlocal social content in all the hot spots around town, featuring local businesses and some of Denver’s best neighborhoods,” Zucker continues. “We also utilize this organic exposure to promote our clients’ homes that are located close by and/or connect with local business owners who might know of an off-market property that we could then present to our buyers.
“We go out of our way to present local restaurants, boutiques and retail shops on our social channels,” adds Zucker. “This gives them added exposure and gives us hyperlocal and amazing original content. This also helps us form relationships with the business and its owners as they appreciate the exposure and see our efforts to help.”
Cory Scott, CEO of LiveBy, a source for creating and distributing local content to prospects and clients, recognizes that a real estate agent is the first person a new market resident builds a relationship with. To that end, he understands the importance of having and showcasing local expertise and the fact that simply telling someone you’re a local expert is “too simple and overused these days.”
“The trust and knowledge factors are questioned much less with a true hyperlocal expert than an agent that may not be from the area or sold many homes in a neighborhood,” says Scott. “Being able to offer recommendations, referral discounts or elegantly being able to speak of local businesses and service providers can help consumers feel more comfortable purchasing a home in a particular area.
“In many cases,” he continues, “a real estate agent is the first person a new market resident builds a relationship with.”
Scott recommends his company to agents looking to stand out in their market. From market trends at the neighborhood level to lifestyle analysis and climate impacts within a particular area, LiveBy helps real estate professionals show off their local expertise. LiveBy is helpful for website content, neighborhood guides for listing packets and market-trend reports to better inform clients.
While there are many qualities that can make you stand out from the competition, especially in your market, local expertise is most important. A go-to local expert is someone who not only knows the ins and outs of their community, but also one who builds strong relationships with the people and businesses within it. By prioritizing your local knowledge and connections, you can better serve your clients and establish yourself as a trusted resource in your market.
Becky Markowitz, a REALTOR® with Berkshire Hathaway HomeServices Fox & Roach, REALTORS®, takes a very personal approach with her clients, ensuring they are offered the right resources for their needs.
“For clients, especially people coming in from out of town, it’s all about asking questions and listening. Where is there a good restaurant? Do they need childcare? Where are their kids going to go to school? There is such a wide variety of family units today, so being cognizant of that is very important,” says Markowitz.
“It all depends on the people and their needs. Never assume anything. Just because you sell in a market with good schools, for example, some may choose to send their kids to private school, and may have different needs,” she adds.
Building a reputation as the go-to local expert in your community takes time and effort, but it is a crucial step in building a successful career in real estate.
