5 Ways to Get to Know Your Neighborhood and Local Market
Finding quality leads and generating new business, as any real estate agent knows, begins with cultivating pre-existing relationships. However, generating new leads can be difficult if you do not already have a large referral base or if you are new to the area.
While new agents tend to focus on open houses and cold calling or spend a lot of money on print advertising, successful agents are able to cultivate referrals by working alongside neighbors and collaborators.
- Please introduce yourself
Choose three community leaders you’d like to meet more closely and either ask for introductions or send an email introducing yourself. Have trouble coming up with something to say? You can send them a link that you believe is relevant to their work, congratulate them on a recent accomplishment, or simply let them know you’ve noticed they’re making a difference in the community.
- Keep in touch
When was the last time you communicated with a previous client? If you don’t already have a spreadsheet or tracking system in place to remind you of birthdays, holidays, and regular checkpoints, make one now and be proactive about staying in their lives.
- Demonstrate that you care
While you cannot attend every community event, choosing a few to attend throughout the year will help you meet people and build rapport. If you don’t already have a community volunteer event planned, visit your community’s website or social media pages to find an upcoming cause that fits your passion and your schedule.
- Change notes
Because real estate professionals succeed more when they understand their market, find a partner in your market with whom you can share notes—and vice versa. Connecting with other agents, even if they are technically your competition, is a great way to learn from their successes and establish yourself as a peer.
- Consider yourself a journalist.
Information about your market can come from a variety of sources. As if you were an investigative journalist, approach your market. Sign up for community newsletters, compile a list of neighborhood newspapers, and see if there are any upcoming town hall meetings where you could learn something new or form a new relationship.