Troy Palmquist is an indie broker in California with more than a decade of experience. His regular column, which covers a range of helpful tips for agents and op-eds on industry happenings, publishes Thursdays on Inman.
Real estate is a relationship-based business, and to remain relevant, you have to add to your database, nurture it and provide value to your clientele.
So how do you do this quickly and effectively while providing real value?
The answer: Maintain a good customer relationship management system, a plan of action and, you guessed it, social media. But add in the fact that the latest technologies, iBuyers, and even Amazon are trying to change this, and we, as agents, have a complex situation on our hands.
How do we change with the times? What will secure our place in a world of paid leads and automated sales? Being hyperlocal. Here’s how.
1. Being hyperlocal starts with your sphere
First, how frustrating will it be when you have to pay a referral fee or monthly rate to Zillow or Amazon to work with a family member or friend simply because you didn’t keep in touch?
We all know you need a good CRM and a plan to use it. But smart agents take this a step further, keeping in touch within their communities and earning a reputation for it. They are in essence becoming hyperlocal in their markets by providing real value to their sphere of influence in a multitude of ways.
One great example of this is Andy Dane Carter, a Long Beach, California, agent. Andy, like a handful of other agents, is using Facebook and Instagram to become the “local area expert.”
From interviewing local businesses, to offering high-quality market data, to creating market-centric campaigns that position him as the expert, he’s not only making a name for himself in Long Beach, he’s staying relevant and keeping himself top-of-mind.
Being hyperlocal in your community starts with interacting on a grass roots level. Connect with people and area groups both in person and online. Go to businesses that appeal to your clientele.
Bring value by knowing more about what is going on in your market than your counterparts. Join a chamber of commerce, a Realtor board, or get involved in community causes that will help you hone your hyperlocal skillset.
2. Next, it’s about knowing of-the-minute stats
Agents should have a pulse on their markets and know the current inventory. If you aren’t passionate about what’s selling when, where, why, and how, then you’re probably in the wrong business.
Great brokers are able to show their sphere of influence that they are in real estate because they love it! They post on Instagram every day. They let the world know what’s happening in their local market. They connect with and support local businesses. They demonstrate to sellers what a successful open house looks like. And with permission, they post pics of happy homeowners closing a deal.
All of the above not only helps with creating meaningful content, but can also result in future clientele. Isn’t that the overall goal? Essentially, social media is the tool that gives you a chance to generate your own leads. It’s up to you to do your homework, position yourself as an expert, and be hyperlocal.
3. Lastly, it’s giving people a look behind the curtain
One of my favorite teams to follow on Instagram is Hutchinson and Johnstone of Compass. On their profile, they feature Los Angeles mansions and give people a unique look at some of LA’s top real estate offerings.
It feels special, exclusive, and like I am getting an inside look at something before anyone else. This feeling creates a need for me to visit their feed daily to see what’s going on.
Another example is Bud Mastropaolo at The Address. He posts videos on Instagram that get people excited and engaged and in doing so he is gaining a hyperlocal edge. His genuine personality and local expertise are creating raving fans who trust him to handle their most significant purchases and sales.
But they also go to him for local recommendations like advice on area schools, the hottest restaurants, fitness classes, and more. Sharing this information forms relationships, and relationships often result in referrals and leads.
Not sure where to start?
Here is a great Inman post that will help you find hyperlocal content to share on social media fast.
It poses the question, “Beyond doing the dirty hands-on work of interviewing local school principals and reviewing dishes from every restaurant in town, how can you keep your finger on the pulse of what’s happening so that your Facebook followers hear it from you first?
Download the right mobile apps, set up a few simple email alerts and you can keep an eye on local news in just minutes a day.”
In the article there are a lot of great tips on how to acquire and share local content. This is a great way to start positioning yourself as hyperlocal and setting yourself apart.
Whether it’s attending a local event or posting about your latest open house, the key is focusing on what matters most in your community and sharing it everywhere and with everyone. The leads and reputation of being hyperlocal will follow.
Troy Palmquist is the founder and broker of The Address in Southern California. Follow him on Facebook, or connect with him on LinkedIn.
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