If someone were to ask you “What type of agent are you?”, it could likely be answered on many different fronts. Do you focus on condos or homes? Do you mostly interact with high prices or low? Are you full service or low cost?  Do you work by referral or generate business from strangers?  Do you focus on one area and know all the details, or do you have good solid knowledge about a wide range of areas?

Here we’re going to break down types of agents based on geographic focus. 

DEFINING THE TERMS

First, let’s define the terms.  We’ll use focused agents to describe an agent that primarily works in one city or a small subset of a city. This agent knows the inventory, trends and will often know everything for sale, and have a solid memory of what has happened in the most recent year. 

On the other hand, we have a broad agent.  This agent works a good portion of a metro area. In Denver, that might be all seven counties.

Each of these agents are valuable for clients in their own way. 

FOCUSED AGENTS

Focused agents know the parks, schools, housing types, trends and if you want to buy or sell in their area, you will be in very good hands. This type of agent will know value for a buyer and help sellers price a home perfectly. They will also have limited expertise in areas outside of their primary zone so they should also have great referral partners with coverage outside this area. 

BROAD AGENTS

Broad agents are great for a relocation buyer who has no idea where to live. This agent can help them debate the pros and cons of their move – from commute time to the best value for a price range. A seller hiring this agent will have the resource to understand their true competition across the metro area. Knowing competition outside of their neighborhood helps pricing and the understanding of the supply/demand dynamics of the larger market. However, broad agents should have local experts available as referral partners or consultants. When they get a client who has detailed questions, they will want to be able to find them answers.

CREATING A STANDARD

As an agent, what is your standard? Do you have one? When do you keep a client and when do you refer them to someone else? Knowing your strengths and weaknesses, especially when it comes to the areas in which you work, will help to make sure you are the best fit for a potential client in order to make sure they are accomplishing their real estate goals. 

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