Saturday, March 17, 2007

Whats YOUR area of expertise?

It's funny, I never thought much about this until today, when I was updating my active rain profile. I was always confused about what to say because I help so many different people on a daily basis, that I feel I am knowledgeable about many different areas of Real Estate. To focus on just one, in my opinion, would be doing a disservice to past and present clients. Ultimately, I think this question may depend on where you live and work. The generic answer to make myself, or any other agent look good would be to say:

"I am an expert in second homes" - To get as many second home owners as possible, more $$!

"I am an expert in first time home buyers" - and hope to get as many first time buyer business as possible, more business!

"I am an expert in finding large tracts of land for my clients" - to become an expert in all areas of land acquisition and sales.

This may work in certain areas of the country. If you live/work in cookie cutter suburbia you may, in fact, be an expert in first time buyers. Alternately, if you live on the shores of the Atlantic in Florida you may be the local expert in finding second homes for people.

But for those of us that live in diverse areas of the country, say the Adirondacks, what is our area of expertise? I know agents that specialize in only helping second home owners, or those that just want to buy large tracts of land to break up and sell off. My broker could be classified as someone who enjoys, and is darn good at, helping those looking for the fantastic second home or recreational property, but would not shy away from helping anyone find their first home. His area of expertise is diverse and that is precisely why he is, where he is today, running a highly successful firm that services all types of buyers and sellers and all types of property, commercial and residential.

I realize now that he imparted that on me, and my colleagues, without us even knowing it. To be successful at Real Estate in the Adirondacks may take more then just being a 4th or 5th generation Adk'er and going on 'who you know'.

It takes going after the foreclosure.

It takes following up on the 1 acre parcel, an hour away, that may list for $8K.

It takes doing everything we can to get that multi-million dollar waterfront listing.

It takes helping first time buyers, while also helping a client buy their third investment property.

We need to be an expert in 100 acres parcels we have listed, and which clients are interested in buying. We need to know the difference between a dug well and drilled well. We need to know the set backs for the APA. We have to know about Commercial and Residential properties because we have a big mix of both. We need to be an expert in all areas, because who knows what that buyer wants that just called or sent an email.

So now when asked "whats your area of expertise?" I can say with confidence that I am in an expert in helping first time buyers, as well as third time buyers. I know rules and regs about vacant parcels, and I know what that one acre lot an hour away should list for. I help all buyers and sellers in anything they need. Most importantly all agents in our firm are knowledgeable about all areas of Real Estate, and we have to be in order to make it up here because it is so diverse. If I don' know the answer, I'll find out for you, then I'll be an expert in that.

At the same time I have a deal on a mobile home, I am going after the waterfront listing which is currently a FSBO, and next week going to the closing for my investor friend who is buying his 5th multifamily home, but dropping off the proposal to the client interested in listing their vacant parcel beforehand. Oh, and that phone call is about the commercial building listed on main street.

-Josh Pratt

7 comments:

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