What is the first thing you look for in an estate agent? Whether you are looking to buy, sell, let or rent residential or commercial property, it should be a knowledge of the property market and the accurate valuation of the kind of premises you are interested in.
But an in-depth knowledge and familiarity of the local area is also likely to come near the top of your wanted list. After all, in the absence of anyone else to give you an objective and impartial overview of the locations in which you are looking to buy or rent, the hyperlocal estate agent may come into his own.
Laurence Glynne from West End of London agent www.ldg.co.uk says that being hyperlocal is a big part to their success: “Because we operate in very clearly defined areas, our clients know that we have the kind of insider local knowledge that other, less geographically-focused, estate agents have.
“Buying, selling or renting a property involves serious time and money, so you want to do it right. That is why using the services of a hyperlocal estate agency makes sense, for all the benefits it can provide.”
What is hyperlocal?
A hyperlocal business is one that is conducted entirely within a well-defined geographical community, with its main aims directed towards the overall wellbeing of that community.
This might be an especially strong selling point when it comes to the sale of your property to a potential home owner, landlord or when letting to tenants. The kind of expertise offered by companies practised in the art of hyperlocal marketing might help you to answer some of the key questions about your property search, such as:
• property values in the area;
• population densities;
• average income levels in the particular part of the city;
• planned or upcoming major developments;
• crime levels;
• the standard and quality of local schools;
• traffic levels and access to alternative forms of public transport;
• cultural facilities, activities and events;
• shopping facilities; and
• nearby recreational facilities, parks and open spaces.
The future of hyperlocal marketing
Writing in the Guardian newspaper (February 2015), UK government adviser and investor in technology Russell Buckley suggests that the future of hyperlocal marketing is made all the more assured by the growth in the relevant supporting technology.
The availability of immediate access to a local market through social media and other online sources has made it more than ever possible – and important – for customers and potential customers to see at first hand all that the local market has to offer.
The immediacy of that particular, local advertising has advantages and benefits for both buyers and sellers alike.
In an age where globalisation and access not only to national but international markets has become the norm, it may be a distinct advantage to have an immediate and visible presence right on the ground, in the very location in which your customers are based. The future therefore seems ready to embrace the power of hyperlocal marketing.