http://1589vance.com
I have been happily and loyally working a geographic niche market for the last few years. By “loyally”, I mean I don’t list or show properties outside my predetermined speciality area, which includes Downtown, Midtown and East Memphis (inside I-240).
Here’s why:
For years I was a generalist, covering just about any West Tennesse property in the MLS. Let’s look at the areas where most agents in the Memphis Area Association of Realtors can discover potential business: Shelby County (784 sq. miles -including Memphis), Tipton County (475 sq. miles), and Fayette County (706 sq. miles). And that’s just Tennessee licensed agents. Dual or triple state licensed agents can pick up an extra 1000 sq. miles or so in Mississippi and/or Arkansas. A potential coverage area of over 2000 square miles. After years, I tired of all the driving, getting lost, and BS-ing about homes, neighborhoods and amenities I knew nothing about.
The geographic area I cover now is about 50 square miles. I refer business that comes to me from outside my area to highly qualified area specialists. It better serves my clients and customers to work with a neighborhood expert, and sometimes that expert just isn’t me.
- Historic Midtown Home for Sale - April 21, 2024
- FOR SALE – 5555 Quince Rd, Memphis, TN - April 18, 2024
- Memphis Real Estate– 2022 and Predictions for 2023 - January 7, 2023
Joe- It boils down to competency. Once upon a time, my appraisal business covered Fayette, Tipton, and Shelby counties. About 8 years ago, I came to the conclusion that I was not putting out a quality product for Fayette and Tipton counties.
Since that time, my companies are geared only for Shelby County, and I feel confident in my work product.
Thanks for the article.
Thanks for your comment, Brian. It is so much more efficient, and I am definitely not lacking for work in the area I serve.
Good article Joe.
Thanks for writing this. I worked with an agent who did not know the neighborhood when we moved to Kansas City. I should have looked at how wide her list of neighborhoods was. There was no way she could have been familiar with that much area, and it was a disaster. Next time, we will go with someone who lives in and/or patronizes the community where we want to live, not just for help understanding the area, but also the ages of the homes.
Thanks Katherine, That was exactly the point I was trying to make.
test