7 Steps for Becoming an Expert on Your Real Estate Market

As an agent, learning your market is an ongoing process. So how do you go about making it happen?

It’s an Ongoing Process

By following these seven steps to getting all the information you need.

#1. Research and Sign Up

Thanks to the internet, real estate agents have much of the info they need right at their fingertips, with info on the local real estate market, jobs, community growth, schools, taxes and more.

#2. Interview an Agent

A great real estate agent is going to be in the know about what’s happening in the community. Find an agent currently working in the area and propose a lunch or coffee meeting. Ask the agent to share his or her perspective on the current market and who else you need to know. Making a new friend of a successful agent could be the best thing to happen in your career.

#3. Befriend a Lender

Another great way to learn about your market is to befriend a lender. Talk to a local mortgage broker, and if you don’t know one, ask around for a referral. Pose the following questions:

  • What are your thoughts on the market?
  • What challenges are homebuyers facing?
  •  How do agents combat these challenges?
  • What else should I know about the market?
  •  Is there anyone else I should meet and can you make the introduction?

#4. Go to Open Houses

You’ve likely seen open house signs around your neighborhood, but special open houses just for agent viewing can be found using the MLS. These are called broker opens. Walk the home and meet the agent running the open house so you can learn more about the market.

#5. Talk to Friends and Family About the Market

Your family and friends will often valuable information about what’s going on in the neighborhood. Most people love to talk about who is moving on their block, how much homes sold for, and other local gossip. They will know if a neighbor had a great kitchen or if there was a flood and remodeling had to be done. Ask them if prices are rising or stabilizing. How are taxes in the area? These questions can provide important insight.

#6. Attend Local Events

It’s the people of a community that make it all happen. Attend community events and and spend time meeting local community members. Hang out at the area hot spots, like restaurants, parks and other places of leisure. In order to be successful, you’ll need to be familiar with the places that locals want to go.

#7. Organize Your Information

Now that you’ve collected all this information, what are you going to do with it? It could be overwhelming to anyone, but organize it from the start so there’s nothing lost as you learn. Keep all your notes and records from your favorite websites and publications.

To learn more about how you can become an expert in your local market, start your free seven-day trial of AgentEDU and watch our two-part series, “Learning Your Real Estate Market.”

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AgentEDU® is a platform where agents at every level can come to watch 10-minute video courses for the many situations that successful agents must master. From essential to advanced level and everything in between, AgentEDU® courses help agents become top producers with increased earnings and a plan for continued growth. For a 7-day free trial sign up here.

AgentEDU® is an Agent Publishing brand. For nearly two decades, Agent Publishing has been committed to providing residential real estate professionals with the information and training required to build successful and meaningful careers in their local markets. Agent Publishing’s influence extends to every career stage and reaches agents across print, digital, events and online learning.

5 Steps to Creating an Instagram Account that Will Attract Clients

Are you using the power of Instagram to attract qualified clients and leads, or are you relying on MLS listings and your website to take care of that for you? If you or your team of brokers are not active on Instagram, then you’re missing out on a great opportunity.

After reading this blog you’ll understand why it’s beneficial for every agent to have an Instagram presence, and how you can build a profile that will enhance your brand and attract leads.

Reasons to Create an Instagram Business Profile

To Separate Personal from Professional

Even if you have a personal Instagram account, you need to create one for your professional self. Your personal and professional Instagram accounts should be separate. Your professional Instagram account shouldn’t contain pics of your trip to Cancun or your Sunday tailgate at the Bears game, for example. You wouldn’t post that content to your business’s website, and you shouldn’t do so on your Instagram business page either.

To Create an Interactive Portfolio

If you’re unfamiliar with Instagram and how it can help businesses, think of it as an interactive portfolio that can visually showcase your listings, projects and accomplishments. It’s the perfect place to upload photos or videos of your listings. If you’re only posting photos to your MLS listing or company website, then there’s a good chance potential buyers will not be engaging with these pages on a regular basis. But with Instagram, your newest posts will appear in the news feed the next time a follower logs on to Instagram.

To Get Access to Data

With an Instagram Business account, you will also get access to Instagram Insights. These insights show such data as visitor traffic, clicks and user demographics. This is a feature not offered to general accounts, and can help you determine which posts are most popular, what time(s) of day are best to post and if you’re reaching your target audiences.

How to Build Your Instagram Business Account

Step 1: Download the App

If you’re currently without an Instagram account, you will need to set one up. You must download the app directly to your phone using Google Play, the Apple app store or the Windows app store, depending on which mobile device you use. Simply head to your app store, type “Instagram” in the search field and begin downloading.

Step 2: Create a Bio

After installing the Instagram app on your phone, you must first create a bio. This is going to be the first impression many potential clients have of you and your business. You’ll need to make sure that it is short, compelling and informative. Make sure you include such details as your location/area, contact information, link to your website and your areas of expertise. Feel free to use this example by substituting your own details.

“I’m John of Oak Park, and I specialize in helping families find the single-family home of their dreams, as well as helping homeowners with their sale. You can reach me by phone at 555-123-4567 or email at John@OakPark.com when you’re ready to start living your dream.” www.OakParkHomes.com

Step 3: Your Professional Photo

A professional photo is also key. This will help display trustworthiness to followers and make your profile more personable. This photo should have high resolution and convey a professional image.

Example: Izabela Sloma (@SlomaRealEstate), senior vice president of sales at Jameson Sotheby’s International Realty, has an excellent bio and professional, high-quality photo. Her bio sums up her role, her career aspirations, and includes a website where you can learn more about her and her causes.

Step 4: Posting

Just like with your professional website and promotional materials, your Instagram page must be consistent with your brand. You’ll want to come across as reliable, well connected, knowledgeable and capable. Remember, this page will be a visual sales pitch for potential clients. All photos should be clear and high resolution.

When posting images and videos of new listings, remember to include details about the home and your contact information in the caption. If your post catches the eye of a potential client, they’ll want to know further details about the home and how to get in touch with you.

Example: @MattLaricyGroup does a great job of highlighting recent successful sales and new listings in a way that is visually engaging and consistent with his brand.

Step 5: Maintain and Grow Your Audience

The ultimate goal is to grow your audience and utilize Instagram to get your listings and professional brand in front of potential clients. That can’t be accomplished if you aren’t active on Instagram. You need to stay active by posting multiple times per week.

Here are a list of types of pictures and videos you can create that are appropriate and will amplify your brand:

  • New and current listings
  • Updates to a previously listed home
  • Recent sales
  • Testimonials from satisfied clients
  • News and information related to your market
  • Community involvement
  • Team-building activities

Now that you’ve built your Instagram page and planned out your first few posts, you’re ready to start Instagramming! Remember, building a large following won’t happen overnight. You need to stay consistent. To learn more about marketing yourself, sign up for AgentEDU and receive a free seven-day trial to check out our eight-course Advertising track.

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AgentEDU® is a platform where agents at every level can come to watch 10-minute video courses for the many situations that successful agents must master. From essential to advanced level and everything in between, AgentEDU® courses help agents become top producers with increased earnings and a plan for continued growth. For a 7-day free trial sign up here.

AgentEDU® is an Agent Publishing brand. For nearly two decades, Agent Publishing has been committed to providing residential real estate professionals with the information and training required to build successful and meaningful careers in their local markets. Agent Publishing’s influence extends to every career stage and reaches agents across print, digital, events and online learning.