Features

Marketing Yourself In New Neighborhoods

The mechanics of marketing homes in gentrifying, ethnic, retirement and unfamiliar neighborhoods.

Gentrifying
Ethnic
Retirement
Unfamiliar

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Steve Westmark, CRS, is always tracking data and trends, in his area and nationally, and he shares that information with potential clients through weekly video blogs. In a recent video, he discussed national REALTOR® confidence data from the National Association of REALTORS®, bringing in local statistics as well.

FAST FACTS
Public housing developments in New York City surrounded by high-income neighborhoods have lower violent crime rates and have public elementary schools with higher standardized test scores than developments surrounded by low-income neighborhoods. Source: The Effects of Neighborhood Change on New York City Housing Authority Residents, NYC Center for Economic Opportunity, May 21, 2015

Craig Della Penna, CRS, became a REALTOR® after working in the railroad industry and then for a nonprofit that turns old rail lines into walking and biking trails. So it makes sense that he works in the Pioneer Valley in Northampton, Massachusetts, an area that’s turning old railroad corridors into linear parks.

Given his background, Della Penna markets himself as an expert in converted railroad lines and the villages that surround them. He also runs a bed and breakfast in Northampton. “I get several real estate transactions a year from people who love this area so much they want to relocate here.”

Lea Ellison, CRS, focuses on the historic and downtown areas, so she runs ads in a historic district church directory and in museum and event programs. She also lists her properties using the terms she knows are buzzwords to her potential clients. “When you use keywords on social media, whatever architectural terms apply to the house, make sure they are in your search engine optimization (SEO) list,” she says.

When Ellison is representing the seller of a renovated home, she asks him or her to make a spreadsheet—she provides an example—of everything done to the house along with the date and the cost. “We can add up all those costs, which tells them the value added to the property, and then we price to market,” Ellison says. She also puts that spreadsheet in the document section of the MLS listing so it’s accessible to agents and appraisers.

Being on the cutting edge of a gentrifying neighborhood is a valuable place to be. It takes some legwork and vision, but it’s not necessarily hard to get intelligence on the next breakout neighborhood. “People love talking about real estate,” says MaryKay Shumway, CRS, “and they love real estate gossip.”

Read more about gentrifying areas.


Neighborhood Watch: Florence, Northampton, MASS

When industrial mills were the economic engine of this area, housing sprung up nearby for the workers. As the mills shut down, some neighborhoods fell into disrepair and are only now being rejuvenated.

For example, an old sewing machine factory in the village of Florence in Northampton, Massachusetts, now houses a medical office and more than 25 small businesses. A late-1800s general store has been converted into a pie bar. And buyers are updating housing in the surrounding area.

“The next generation is coming in, and they want to live close to town,” says Craig Della Penna, CRS, associate broker of The Murphy’s REALTORS® in Northampton. “People want to live in traditional neighborhoods.”

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The historic Miss Florence Diner in Florence, Northhampton, Massachusetts.