Three Tips for a New Marketplace

Posted by on Jun 14, 2019 | No Comments

Are you trying to establish yourself in a new marketplace? It can be intimidating to know where to start. These tips will help you get on your way to building your luxury agent career.

Know Your Benchmarks

In order to be an expert, it’s essential to do your research. Particularly, I would advise you to do a two-year study of your particular market where you are choosing to specialize. Start by researching these benchmarks:

  • Who are the buyers?
  • Who are the current residents?
  • What’s the typical land area?
  • What’s the typical house area?
  • Who are the prominent builders and architects?
  • Who lives there?
  • Are there any prominent business people?
  • What are they selling for per square foot or per front foot as a percentage of their assessment?

When you’re undertaking your two-year study and researching these benchmarks, don’t spend two years accomplishing it. Instead, just research the two prior years of your marketplace. This will give you an already established and holistic overview of your marketplace’s benchmarks.

Gatekeepers

Showcasing your expertise is, indeed, important. However, showcasing your expertise to the right individuals is even more important. Click To TweetYou want to get out there and talk to groups, such as rotary clubs or chambers of commerce meetings. There are a plethora of high net worth gatekeepers in those groups and meetings.

Endorsement

Additionally, getting endorsed is a critical factor when it comes to being perceived as an expert. Testimonials from past transactions or even past careers carry a lot of weight when it comes to impressing gatekeepers and prospective clients.

Until next time, make it a great week.

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