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Build Business: Scoop Up Customers in Feeder Markets

Once an established agent has a fair share of local customers, the next step is to advertise their services to the external buyers who are most likely to move in.

SAN FRANCISCO – After real estate agents establish themselves in their local market, the next step should be to expand into feeder markets.

Agents should determine the locations their buyers move from, as well as identify any unique buyer and seller movements they experienced over the past year. They should then strategically map out a timeline and partner with like-minded experts to create a platform of solid, trusted relationships.

For instance, Los Angeles-based The Agency’s growth strategy aims to foster the company’s collaborative culture in targeted feeder markets such as South Florida, Aspen, Los Cabos, Park City and Arizona. Agents partner with “the best” in local markets.

Finally, stay current on market reports. In the National Association of Realtors® (NAR)’s latest international report, it found that one in four (24%) international buyers chose Fla. Nationwide, they spent $5.9B, up 8.5%, even as single-family home sales dropped 7.9%.

Source: Inman, Umansky, Mauricio

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https://www.floridarealtors.org/news-media/news-articles/2022/07/build-business-scoop-customers-feeder-markets