How to become a local real estate market expert

The tried-and-tested way to find the best opportunities during your real estate career is by becoming a local expert. Golden deals are unlikely to fall into your hands by chance, but gathering as much information as possible on the neighbourhood you work in is guaranteed to set you apart from your competitors.

How to become a local real estate market expertFollow our simple tips to gain success in your chosen housing market.

Give yourself the tour

Become more acquainted with your local real estate market, by car, bike and on foot. Visit any new estates that are under construction on the outskirts of town. Discover the shortcuts, walking routes to the shops and time how long it takes to reach the nearest bus stop. Find out how close in proximity the train station and airport are to the properties in your portfolio.

Not only will clients value these useful tidbits of information, but sharing it will also help them envision their future at the home you’re showing.

Study the local real-estate market

Stay ahead of the game when it comes to the region’s real estate market. Read local newspapers to keep abreast of any developments that may have a knock-on effect on house prices, such as the construction of a new train line. Browse the property listings on competitors’ sites, too.

Values are consistently fluctuating, so keep a note of former clients who are renovating their homes, perhaps by adding a garage. Ideally, you’ll be aware of every type of house in your area, depending on its size. Not only will becoming a fountain of knowledge help build your reputation as a dependable real-estate agent, it will also help you unearth the best deals.

Don’t keep all the information you gather to yourself, however. Turn your company into a resource for local clients by providing information about localised housing market trends on your blog, e-newsletter or website.

Connect with local businesses

Forging connections with local businesses is extremely rewarding. Not only will you be top of the company's list when it considers moving locations, these working relationships could also lead to unsolicited recommendations for your services.

In turn, you can refer local businesses to your clients when they ask for suggestions on anything from plumbers to hairdressers.

Get involved in the community

Embed yourself in the local community. Becoming involved with a sports team, a crafts class, or embarking on a volunteering stint is as enjoyable as it is business-friendly. You’ll become a well-known face around town and will also become more aware of trends and shifts in the housing market through word of mouth.

At Engel & Völkers, we have a global network of local real-estate market experts who take pride in cultivating a thorough understanding of their chosen market. To find your nearest Engel & Völkers office, search our website and drop in to speak to one of our members of staff.

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