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Real estate experts on why 'local' real estate expertise matters

Real estate experts on why 'local' real estate expertise matters

Relola presents: meet the unicorns: real estate experts on local expertiseWhat does 'local real estate expertise' mean to you?
 
That's what we asked some of the smartest people in real estate. Here's what they said.
Buyers and sellers want one thing more than anything: local expertise. We were fortunate enough to have time with the of the top thinkers in real estate, and smart enough to have a video camera! They include:
 
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JOE SCHUTT, UNIT REALTY

Local expertise means to me that you now your community, you're deeply involved. You know, I'm on my neighborhood association, I'm involved in committees in other neighborhoods, and I just really get to know the neighborhood as a person living there. I get to know other neighborhoods by going to the restaurants, getting to know the shop owners. Because that makes you a little bit more integrated into the community. 

And learning it on a level that your clients are gonna be living. And you need to be able to say, "Well, you know, if you have a dog, you go to the Boston Common Dog Park if you're in Beacon Hill. Or if you're in this part of Back Bay. If you're in the South End, you have this, this, and this as options."

So you need to understand that, that really detailed, nitty gritty, boots on the ground kind of stuff about different neighborhoods so you can express that to a buyer. And also for a seller, make sure that you understand the market well enough in that area where you can talk to buyers coming into their open houses. 

So a lot of times, buyer and sellers won't really know what questions to ask, especially first time homebuyers or first time home sellers. So if you lead with, "You know, I know the community really well, and this is where I hang out. This is where I go." 

I know that would be, with the buyers coming into this neighborhood, we'll tell them about the dog park down there if they have a dog or we'll tell them about the great restaurants that are here, the certain coffee shop and what they offer, what's opening that's new. Where can you get home furnishings? What style do you like? But at the same time, we always want to ask our sellers, you know, "What's your favorite coffee shop in the market, in your neighborhood, around the corner from you? Your favorite dry cleaner." Because we can add those to our lists and also come across as more of an expert at that point, because we're learning from our clients that live-- in my neighborhoods in downtown Boston, it is so specific that there are some people that will not move from one side of the South End to the other because they don't want to switch dry cleaners. And the neighborhood's not really that big, but it's, it's, it's crazy, but that's how we are in Boston.


GARRY WISE, PAPERLESS AGENT

We as realtors have got to get past the misconception that our value proposition is the data that we have because everybody has that data now. What, what consumers want is they want that specific knowledge and interpretation of what this data means to them and their families.  

So a lot of the data is, what's going on in a neighborhood. What is going on with the local restaurants and the hub spots? What is it like to live in a geographic area? It's the lifestyle points. They wanna know what's going on with development. What is the city doing? What is the-- what is going on with code enforcement? What is going on with buildings and improvements? That, that's what they want. What's the walkability? What's it like to live in that place?  

But the thing is, is that we don't really have a way to share that. We don't have a way to crowd source that information and hand deliver it to the consumer until now.


KATIE LANCE, KATIE LANCE CONSULTING

It's important, I think, for any agent to really stand out in their local market, right? Real estate's locals, we all know. And it goes back to, kind of, the content conversation, you know.

Thinking about, who can you highlight in your market? Who can you recognize? What kind of value can you bring? And especially for anybody who's new to real estate, you know? You, you may not have a book of listings and a book of business but why no be proactive and recognize people in your local community? You know, your favorite local business owners, your local boutiques.

And I think it's really a win win because you're recognizing those people, you're building this relationships, they're gonna love it, they're gonna share it on their Facebook page or their accounts. And you're providing really good value.


PATRICK RYAN, RELATED REALTY

I think a big thing for us, and I think it kind of goes with Relola, you know what you guys are talking, having experts, that, you know, the industry has changed where people can, you know, go online and find properties.

So now, people need to be experts. They really need to know different streets, different areas, different schools. And really be, like, that person that someone can go to as a real estate advisor, you know?

We try to partner with, you know, the Chamber of Commerce, charities, I'm always telling our brokers, pushing that they should be part of charity work, part of the Chamber of Commerce, be involved in your community efforts, and I think it really resonates with people.

So, our business is growing, their business is growing, and I think it helps the image of REALTORS.


ZVI BAND, CONTACTUALLY

It's so powerful because you know it's not really important for me to, like stay in touch with an agent if I'm, like, not thinking about buying or selling in, like four years. But, like, I am thinking right now, like, where am I gonna go for dinner?

What's going on in my area? What are the new, cool places, you know? And so I love the whole aspect of, you know, when we talk to our agents about, "Find some way of interfacing with their day to day." And yeah, everyone lives somewhere. Everyone's looking for what I should be doing, what restaurants are there.

So the fact that, through Relola, they can share it, is powerful. I can obviously see the connection, right? Because we, the whole point is a real estate agent, in order to get that transaction, they have to make sure that they're seen as that trusted advisor initially, right, obviously thought that transaction. And the question is, well afterwards, how do you make sure that you maintain that reputation for years to come.

And so, to be able to somehow be valuable alright, I don't need help with buying or selling the home right now, but again, I am looking for an expert to, so, as a way to show you activities that make sense.  

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