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February 2018   Volume 44, Number 2      
 

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New Study Confirms Marketing Opportunity for “Hyper-local” Real Estate Expertise

Real estate professionals admit they are not delivering when it comes to providing their clients with hyperlocal knowledge of specific housing markets, according to a new survey.

The newly published Hyperlocal Real Estate Survey, commissioned by the startup zavvie and conducted by the WAV Group, uncovered that agents feel they have failed to get the message across about their local neighborhood expertise in their marketing outreach.

Roughly 95 percent of 350 real estate professionals surveyed said local market knowledge is “extremely important” or “very important” for their clients. But just 12 percent of respondents say their marketing focuses on how they specialize in specific neighborhoods.

The survey found that 60 percent of respondents claim to specialize in a large regional or metro area, something the authors of the survey claim is unrealistic.

“It’s an oxymoron to specialize in a metro area,” said Stefan Peterson, COO of zavvie. “You can’t even specialize in a city or a town—it’s just too big of an area, geographically, to be a ‘go-to expert’ that knows every single home in that size of a market. Yet that’s what folks were claiming.”

The survey also found that just 17 percent of agents are using hyperlocal marketing platforms such as the Nextdoor social media site, neighborhood websites (15 percent) or a personal blog (7 percent).

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In this issue:

Five Real Estate Trends To Watch for 2018

Compass Secures Largest Real Estate Tech Investment in U.S. History

NAR Warns Tax Bill Will Cause Housing Prices to Drop in Every State

New Study Confirms Marketing Opportunity for “Hyper-local” Real Estate Expertise

Nextdoor Expands Real Estate Division into Three New Markets

Profits from House Flipping Continue to Decline

This Is How Long It Takes to Sell a Home

U.S. Midwest Emerges as Top Draw for Real Estate Investors

Wire Fraud Is the Fastest Growing Real Estate Cybercrime in the U.S.

Eight Reasons to Market Your Listings With 3D Tech




 


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