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Sign into your accountFind the Local Market that Offers the Best Growth Opportunity
June 28 2017
Selecting and working in the wrong local market is a costly mistake that many real estate professionals make. But with some background knowledge, it's an error that you can avoid.
If you selected your current Local Market based on the following factors, you may want to reconsider (and we will show the tools to do this, below):
- I live in this neighborhood;
- I like the area, the homes are nice;
- Other agents are marketing there, so I should too;
- I've got a listing there
The reasons for choosing a local market area above aren't wrong, but they shouldn't be your sole reasoning. In this article, we'll look at how to select the best Local Market area—one that you can master (and be profitable in). To achieve this, we'll need to do some calculations (which we will walk you through step by step).
Learn how to:
- Calculate the opportunity of a geographic area;
- Calculate the potential future opportunities of a particular market area;
- Look at other variables that will affect the Local Market you choose.
To get started, grab a calculator, a pad of paper, and a pen. Let's get started!