4 Tips Real Estate Agents Should Know About a Listing’s Neighborhood… But Don’t

Posted by Nicole Finzi

May 3, 2016 6:31:30 AM

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There are a plethora of factors that need to be considered for a buyer searching for the perfect home. While the features of the house itself are very important, it’s  the neighborhood and surrounding community that can be the difference between an offer, or the buyer walking away. As an agent, it is your job to give the buyer as much information as possible on the home and the neighborhood so that they can make an offer.

Here are 4 pointers to consider about a property’s neighborhood:

School Districts

For buyers with families, it is important to have as much information about the school districts in the area as possible. Parents are looking to place their children in top schools that will provide their children with the best opportunities to succeed. Knowing how schools are ranked among others in the area will make it easier for your buyers to make the best decision for their family.

Housing Trends

Agents that consistently know what’s happening in the market are the ones that make money. Is the neighborhood growing or declining? Is the price for a home increasing or decreasing? How does that price compare to the prices in other neighborhoods in town?

HOA Costs

According to Investopedia.com, Homeowner Association fees often range from $200 to $400 per month. Typically, the more that is included with your fee, the higher the HOA cost is. For example, some communities provide lawn care, pool care, insurance, etc. A community like this would charge a higher fee than a community that provided nothing. These fees can often be a deal breaker for your buyers. Not only does the HOA charge a monthly fee, but they also provide set rules for the buyers to abide by. These rules vary from paint color to street parking. Because the prices and rules vary by association, it is your job to make sure that you have accurate figures for each listing so that your buyer can be informed.

Crime Rates

As an agent, it is your job to provide your clients with a home that matches what they are looking for. The last thing that a buyer wants to worry about is whether or not they will be safe in their own home. Providing your clients with this information can put them at ease and let them know what they can expect. This information is very easy to find. Crimereports.com is a website that provides visitors with free up-to-the-minute crime reports for specific areas. You can even download the mobile app and have alerts sent to your phone on a regular basis.

 

The most successful agents know details about local neighborhoods. They are experts and never go into a meeting blind. Trust is so important when it comes to a buyer selecting you as their agent, so do whatever you can in order to gain their trust. Research the client and consider what you know about the client when you are gathering information for a listing.


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Topics: Practical Advice

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