How To Know Your Community And Local Market In 5 Easy Steps

How To Know Your Community And Local Market In 5 Easy Steps

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As any real estate salesperson is aware, nurturing existing relationships is the first step in discovering excellent leads and producing new business. However, acquiring new leads can be challenging if you don't already have a sizable referral network or if you are new to the area.

Successful agents are able to nurture recommendations by working side-by-side with neighbors and collaborators, in contrast to beginner agents who frequently concentrate more on open homes and cold calling or lavishly spend money on print advertising. They participate in volunteer work and neighborhood networking activities, which largely increases their chances of developing new personal and professional connections. Career growth is not a "one and done" transaction, but rather an ongoing investment for these real estate professionals.


Five Ways To Make A Name For Yourself In Your Community


Identify Yourself

Choose three local leaders you'd like to get to know better, and then introduce yourself to them via email or by asking for introductions. Having difficulties coming up with a response? You might congratulate them on a recent success, send them a link you believe will be helpful to their work, or simply let them know you've noticed their impact on the community.


Maintain Contact

When was the last time you got in touch with former customers? Create a spreadsheet or tracking system right away and be strategic about staying in their life if you don't already have one to remind you of birthdays, holidays, and frequent checkpoints. Here are several methods for communicating:

  1. Your email list should get a weekly or monthly newsletter with information about your company.
  2. As a way to thank your previous customers for their business, host a thank you party by inviting them to a cookout or cocktail party.
  3. To keep your previous clientele informed about your family, send Christmas or other holiday cards.
  4. On the anniversary of the purchase or sale of their home, send a "Happy Anniversary" gift.


Show Your Concern

Even while you won't be able to attend every community event, picking a handful to attend over the course of the year will allow you to network and establish relationships. Go to your town's website or social media accounts to identify an upcoming cause that meets your interest and your availability if you don't already have a community volunteer event planned. To learn how one Missouri real estate agent turned into a pillar of his community, download our Voice of the Real Estate Agent study.


Change Notes

Find a partner operating in your area with whom you can compare notes because real estate agents succeed more the more they comprehend their industry. While they are technically your rivals, networking with other agents is a terrific method to gain insight from their achievements and position oneself as a colleague.


Adopt A Journalistic Mindset

Finding out about your market can be done in a variety of ways. As if you were an investigative journalist, approach your market. Make a list of local publications, sign up for your neighborhood newsletters, and inquire about any forthcoming town hall meetings where you can pick up some useful information or meet new people.

Finally, don't be scared to ask for recommendations once a client is satisfied with your services. You never know when one satisfied customer may bring in more.