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It’s no surprise that agents who don’t master their local market risk being outshone. An REB top agent shares her tips on how to use local knowledge to outperform competitors, build vendor confidence, and how to deepen community connections for long-term success.
Mastering your local market and becoming a trusted, embedded presence in the community will generate long-term leads and ensure you can continue to outshine competitors, Cunninghams Northern Beaches director, residential sales, Georgi Bates said.
The top agent explained that local knowledge and community connectivity allow agents to build rapport with vendors by sharing insights they might not know themselves, while educating buyers on an area’s true value.
This approach generates long-term sales pipelines through deeper community connections.
“You’ve got to be able to educate your buyers in order to get them to pay more money and invest and purchase in the area,” she told REB.
Factors that buyers care about include what the local schools are like as well as the demographics of the locality.
“It’s little things like that that is an emotive pool for the buyer in order for them to want to purchase, which then creates competition,” she said.
Meanwhile, through their ability to educate the public about the market, agents can instil extra confidence in sellers.
“You become the standout agent of choice if you can be almost educating your vendor about things that they may not even know about the local area,” Bates said.
“So that’s how across things you need to be.”
To boost their knowledge of an area, Bates advised agents to find plenty of resources, whether online or at the local library.
However, it’s also essential for agents to get themselves known by actively being involved in the community.
Bates said that agents should sponsor and be involved with local events as much as possible, so they can develop connections and build a rapport.
“The more involvement you have with sporting clubs, local community, you stand out as being the local expert and then that builds trust,” she said.
Agents may choose to hold a local initiative at their office or the local surf club, and speak on matters of property such as first home buying.
“Then you’re going to find that the parents will come for kids, kids will come, and you’re building rapport with the local community where you’re just giving back,” Bates said.
“So become the local adviser, property adviser that is recognised and stands out in your community.”
When giving back to the community, agents should keep the long-term goal in mind and not worry about whether they are immediately benefitting.
“Don’t think about what you’re going to get back out of it when you invest in your local community,” Bates said.
“So for example, any referral fees – I give it all back to my local community. I don’t ever take them.
“That naturally is something that you are putting into your community and it will come back in leaps and bounds,” Bates concluded.
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