Many real estate sales people, especially sellers agents focus on a specific geographic area to target their sales and marketing efforts.
Knowledge
Learning a market can take some time. By focusing on one specific area a salesperson can a deep understanding for a place and how it works. For a real estate sales person knowing an specific market really well can make life very easy. Pricing a property when you've seen three homes in the area sell recently that were very similar will be easy, and you have the opportunity to come up with some real effective pricing. And what if you're the person handling the closing? I know my clients would be much happier to know that the person who is handling their closing is familiar with the area they are buying in. It makes for something to talk about and a happier more taken care of client when they feel that the closing agent is familiar with where they live. Because real estate is inherently geographic, knowledge of geography and investment in a space is key to establishing accountability, and rapport.Penetration
One important part of success in business, indeed what makes business simply easier is your market penetration. Market penetration refers to the proportion of business you do within some defined market in comparison to all of the competition. In real estate, no matter how wide your territory, the markets on which you focus will always have a geographic factor involved. And the greater penetration you have in that market the more you will be able to reduce the work you do to keep getting business in that market.Time and Energy
There are two parts to business. Rainmaking and the work. Bringing in business over a large loosely defined market can be a lot of work. When focused upon a small well defined space we make our work much easier. Rainmaking becomes more effective with less effort.
Don't get me wrong, there are other ways to define yourself. If you're a loan officer who can service loans nationwide you may find a particular niche for your services that is not geographic. If that's your aim I support it. I've done this before myself as a mortgage broker. I did have some success with it. I still believe however it is always going to be simpler and more cost effective to focus your efforts with geography in mind.
Clients, in my experience, associate themselves with a space, as if to say in a small way "part of who we are is where we live and work." When evaluating the people we work with for real estate purchases we are likely to find more comfort in someone who we might associate with a particular space.
Let ActiveRain Work For You
ActiveRain is currently working to enhance your geo-targeted marketing. We are delivering a strong assortment of tools to help improve your businesses. Right now you have the ability to categorize your posts with regional designations. Those posts show up in our various state, city and county pages. Neighborhoods and smaller districts will also play a role.
These pages are SEO optimized, and that is constantly improving. As we work to bring your closer to your market, I would encourage you to take advantage of these features as a small part of your local marketing. Take the time to write about your market place, feed your audience with information that comes from your unique perspective. Write so that you can attract the business that is looking for you and what you have to offer.
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Blog categories - Where should I put my post?
I am SO looking forward to all of this! Thank you for all the effort you guys put into US. :)
Cheers! ~Mariana
Bonnie, I agree it is difficult when working with buyers to be confined to an area, they invariably change where they want to be. I find it essential to discuss with them location before anything else.
I do know however that a buyer always starts with at least one location in mind. If they find you via that location and decide later on another then you still win. In my opinion it only helps to define you as more knowledgeable sales consultant, and when they decide on a different area with your help, you've shown them that you are a dedicated professional who knows their stuff.
Leslie,
If you'll notice the real estate directory now has a section focused on regions. These places are where more consumer oriented blogs will show up. We will have others going forward. If you post is directed at a consumer then I'd suggest you check the appropriate boxes.