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Location Location Location is Dead Dead Dead in 2010

Reblogger
Real Estate Agent with Hunterdon County Homes

Original content by Chris Drayer

It came as a shock to me while reading the latest 2009 NAR Survey results. After all, Location is king, and I view NAR as providing Quality Data …Right? A few questions came to mind: What survey question was asked? Should agent and broker marketing efforts change? What took the #1 spot?

First – It could be that the results are due in part to the question asked. “What are the factors that most influence where you buy” The answer options took location – and split it up into 8 separate proximity questions. They used the word Convenience – as in Convenience to job, convenience to shopping, convenience to friends and family, airport, healthcare etc. Should one define all the conveniences to one category, perhaps we would see different results and “location” would remain the most important factor. However I believe NAR divided the questions for a purpose.

Many other factors were included in this part of the survey including quality of schools, design of neighborhood availability of larger lots or acreage and environmentally friendly green factors. Respondents had many broad categories and some very specific options to select.

A Quality Neighborhood?

In the end Quality of the Neighborhood is King. While it is reasonable to understand that neighborhood Quality would play a key role in decision making I’m very surprised it is the number one factor. How one defines quality is subjective and difficult to measure. It could also be argued that location and proximity to schools, work and healthcare all factor into the quality of the area. I believe that location and quality of the neighborhood are too tightly interwoven to separate.

Finally – should survey results from NAR alter your marketing? It Probably should – yes. Not likely a 100% change in your overall marketing strategy however here are a few easy to implement suggestions to give you the edge.

Since Quality of neighborhood is clearly the number one factor, use this knowledge to improve your overall online property marketing. First, Include more info about the neighborhood on your listings. When you have more than one listing in a neighborhood, take high end photos (or hire a photographer) and flip video highlighting the area amenities. Many companies (including FloorPlanOnline) will let you include extra photos and content to existing tours / websites. (make sure there is no extra charge) Include neighborhood tours, photos and video.On FPO tours you can embed local photos or youtube video in your tour / website even months after the tour has been created for no extra fee.

There are some Side Effects. Since you already highlight the property’s assets with tours, video and photos, your new neighborhood YouTube Videos, photo blogs and other local content will also only help improve your SEO and local expertise in the eyes of buyers and search engines. That’s a Quality side effect anyone could use.

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