Are you starting the process of buying or selling a home? If so, one of the first steps you take should be finding a real estate agent who can help you achieve your goals. While there are many qualities to look for in an agent, neighbourhood expertise is one of the most important.
Experience is the greatest teacher. A real estate professional who’s bought and sold a lot of homes in a particular area will know the community inside and out. Their local knowledge can translate into major benefits for homebuyers and sellers.
Here are just a few of the reasons why you should look for a real estate agent with neighbourhood expertise.
You’ll benefit from local market knowledge
Neighbourhood experts have an intimate knowledge of local housing statistics and market trends. They compare home prices in the community on a regular basis, and they use their analyses to achieve successful outcomes for clients.
If you’re selling your home, an agent who understands local market dynamics can help you identify your most likely buyers. They’ll use what they know about home hunters in your neighbourhood to design a marketing plan and pricing strategy that gets results. If you’re a buyer, a professional who knows the market can help you quickly zero in on homes that meet your budget and criteria.
You can leverage neighbourhood connections
Sometimes it’s not what you know but who you know that can open the door to a better real estate outcome. An agent with a great local reputation will have a network of satisfied clients in the community, which they may be able to leverage when they’re looking to find you the right buyer or seller.
Neighbourhood experts will also have good working relationships with other professionals in your community—from mortgage lenders to electricians. Whether you’re buying or selling a home, your agent can refer you to the right people to help make the process smoother.
You’ll have more effective negotiations
Whichever side of a transaction you’re on, you may be able to get a better deal through negotiations. A real estate agent with in-depth neighbourhood knowledge is well positioned to look out for your interests during this process.
If you’re a seller, your agent might use recent neighbourhood sales data to justify a higher price. If you’re a buyer, they might point out that a home similar to the one you’re purchasing recently sold for less money down the street. In situations like these, a representative who knows the community, its homes, and how much they’re selling for can negotiate more persuasively on your behalf.
You’ll understand community life
Put simply, an agent with neighbourhood expertise knows what day-to-day life is really like in the communities where they work. As a result, they’re better equipped to serve their clients.
To make an informed purchase, homebuyers need to have a complete picture of the area where they’re planning to live (from nearby amenities and average commute times, to the neighbourhood’s general character). Sellers are more likely to receive great offers if they have a fantastic marketing plan—one that highlights not only their home’s features, but all that the surrounding community has to offer.
Whether you’re buying or selling, there are many qualities to look for in a real estate agent. Just make sure that neighbourhood expertise is near the top of your list. Reach out today to get started.