Looking for a profitable niche?
Try neighborhood schools specialist!
It’s hard to overstate the importance of neighborhood factors such as school quality on the home buying decision, yet few agents seem to be known as "schools specialists." Agents can gain a competitive advantage by becoming an expert on local schools. By providing objective information about the school's current programs, test scores, teachers and librarians, prospects can make better buying decisions.
Most real estate pros are well aware of fair housing issues and the dangers of providing unsubstantiated opinions about local schools. In the past, some real estate pros have run into trouble talking about "good" or "bad" schools based on opinion or other subjective criteria. One way around this issue is to provide consistent information from reputable sources to all your prospects regarding local schools.
In other words, provide objective information about the school's current programs, test scores, teachers and librarians and let prospects decide for themselves. Here are some great ways for real estate pros to help buyers size up local schools:
Student-to-teacher ratio – Unusually large class sizes may be cause for concern. Sources such as eNeighborhoods have this information as well as librarian-to-student ratio and facts such as expenditures per student and what percent of total school funds are spent on instruction. Again, this information may not show good or bad, but it provides a useful way to compare schools.
Standardized test scores - Standard scores such as SAT and National Merit Scholar awards can provide insights for current students’ academic performance.
Faith-based real estate – Have buyer prospects already expressed interest in a specific type of church, temple or other house of worship? This may be an important factor in their choice of schools.
Play to your strengths - Just as real estate agents promote their specialties, many schools are happy to tell you about distinguished programs in sports, science, technology or the arts. What are the school’s clubs and associations? Knowing how to match a prospect's children with a school where they can follow their dreams can quickly lead to a sale.
Show, don’t tell - Create a map showing the names and locations of local schools to use in your presentations and reports. If you have a mapping tool, you may add personal notations like “Here are the practice fields for future soccer stars!”
One effective tactic that's sometimes overlooked is a personal visit to neighborhood schools. Request a tour for yourself and take photos, make notes, shake hands and meet people. What buyer wouldn’t be impressed by photos and firsthand local school information in a marketing presentation or on an agent website?
Don't hesitate to call the administrative offices of local schools and ask if it’s possible to take clients for a personal visit. It will deepen your own knowledge of local schools and demonstrate your neighborhood expertise to school administrators. Local teachers, principals, school-board members can make excellent contacts for your business.
To learn more about incorporating school information into your marketing materials, take a complimentary eNeighborhoods online training class.
Friday, August 31, 2007
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