5 Tips for Becoming a Neighborhood Expert 

Watching our new real estate agents learn, grow and succeed is one of the most satisfying aspects of our work as BHHS Homesale Realty's Agent Services Team.  We provide our new real agents with the most thorough training, modern marketing and tools to navigate today's tech-centric real estate world.   But it's ultimately the time, effort and hard work of those new agents that determines their success.

The National Association of REALTORS® reported 1,235,827 members as of October, 2016.  So how does a new real estate agent stand out from the crowd when they get started growing their career in real estate? Develop a niche or area of expertise.  Real estate agents often choose an area in which to specialize luxury realtor, buyer's representative or neighborhood expert.  Choosing neighborhood expert can be beneficial to your real estate career because you become the agent "in-the-know" in a specific community.  

If you're going to invest the time to become a neighborhood expert, then the first step is simply picking the right neighborhood. The ideal neighborhood should be in demand among your target audience with a relatively high turnover rate. You'll want to put your new expertise to work, and a strong turnover rate usually means there will be plenty of home buyers (and sellers) who need your advice. Once you've chosen a neighborhood, here's how to get started:

1. Show Your Face – There is absolutely no substitute for visiting in person, so start making it a habit as soon as you become a real estate agent. Stop by a home that is newly listed in your target neighborhood, so you always have a finger on the pulse of the local real estate market. Your visits are also a good chance to learn about schools, entertainment options and local events.
2. Get Involved – As you learn more about what a neighborhood has to offer, look for opportunities to get involved directly in local events and organizations. Sponsor a special event, volunteer for a good cause or simply make it a point to show up whenever something big is going on locally. These are opportunities to network, build your reputation and learn even more about the neighborhood.
3. Dig into Data – Knowing the neighborhood first-hand is a critical first step, but it's also important to understand the big picture trends of the local real estate market. Run market comparisons within the neighborhood to compare different types of homes, locations and school districts. When you can speak confidently about local real estate trends without pulling out your smartphone, you're sure to impress potential clients.
4. Stay Committed – While there are many ways to "work smart" and speed up the process, there's no getting around the fact that becoming an expert takes time. You will have competition, but you can come out ahead simply by staying committed, learning and learning some more.
5. Be Present – In addition to learning about the neighborhood, you want to give the people of the neighborhood a chance to learn about you. Hosting as many open houses as you can in your target neighborhood gives you a chance to connect with locals, show off the expertise you've been building, learn more about the neighborhood and show potential clients what you're all about.

For many new real agents, the moment when you realize you've become a neighborhood expert is one of the most enjoyable aspects of the real estate journey. You're in the middle of a conversation with someone you just met, and all of a sudden you're spouting off statistics about the price of two-bedroom condos versus. single-family homes in your target neighborhood, purely from memory.

You'll know it when you feel it, and our team at BHHS Homesale Realty is here to help you become a real estate agent – and a neighborhood expert. Contact BHHS Homesale Realty to learn more about joining our team.