You may see for sale signs around your neighborhood with the additional ride message attached – “Area Specialist,” or it might say “Neighborhood Specialist.” Now I don’t think these agents are being dishonest, because quite a few have been doing business in a certain area (usually the one where they live) for many years. Or the agent might just pour most of their effort and marketing into a specific area (usually ones with high priced homes – ha ha ha). With this said, there are many others that put this attachment on all their listing, as if to say, “I know more about this area than others – hire me.” It must be a strategy that works, because if you keep your eyes open you will see this sign flashed everywhere.
I was reminded of this when an investor client of mine asked me if I specialize in a certain area. The reality of it is, I don’t know many agents, including myself, that won’t list a property or assist a buyer to purchase a property if it’s in their general region. Unless an agent is a liability to the sale due to there unfamiliarity with the area or it is just too far from the normal book of business, that agent will usually take on the client. Makes sense right? A good agent will either be honest about there understanding (or lack thereof) of an area or special type of property, and either hustle to learn and serve the client to the best ability or refer it to someone who knows what they are doing. Bottom line, what’s best for the client?
I’ve successfully sold homes and assisted buyers in finding homes all over the Sacramento region. However, I probably know the most about the Midtown and closely surrounding areas of Sacramento (95811, 95814, 95816, 95818) due to the fact that I’ve lived and worked in these areas for over 10 years now. Also I own property and manage several others in this area, so I am familiar with the streets, businesses, and flavor in each little nook and neighborhood. Especially with income property, the “area specialist” label may be more important than in other arenas of real estate, becuase the future income, vacancy rate, expense and headache are all associated with the intricate details of that location.
The interesting thing too about working with investors, many are looking for the bargains and the least expensive thing that they can get there hands on. Investors want the best neighborhood, at the cheapest price (doensn’t everyone?). I’ve worked with one particular investor that only bought in Oak Park. Last year I closed a half a dozen deals or more for them (both on the buy and sell end) and really got familiar with Oak Park. And probably wrote 50 plus offers. Am I now an Oak Park Specialist? For a while this is the only area that would cash flow, and now it’s the main area that someone can buy a home for under $30,0o0 and have many from which to choose.
Let me know if you have any questions about the Midtown/Downtown areas or surrounding neighborhoods – and I would include Oak Park in that category.
Sacramento Real Estate Reflections 