If you are a realtor in the Atlanta area you are sure to know about the Atlanta Beltline. Built on the remnants of a former rail corridor, the project is a multi-use trail, which aims to help ease the burdens of commuters in the Big Peach while adding green space at the edge of the central business district. Even though the project won’t be completed until 2030, areas are already in use and homes prices along the planned route of the Beltline have begun to spiked. The biggest challenge for realtors is how to market homes in Beltline neighborhoods, especially those homes in neighborhood where construction has not begun.
The project has already had a positive impact on home prices, as Atlanta Beltline homes are in high demand. In addition, the project will also create thousands of jobs, which in turn will increase the number of potential home buyers in the region. The increased number of potential home buyers should lead to increased competition and this should help to raise home prices. It is as simple as the law of supply and demand.
However, this increased competition on the buy side will also increase competition amongst realtors. As such, the agents who win in the market know how to maximize their earning power, regardless if they are on the buy-side of the sell-side. As this article is about marketing homes in Beltline neighborhoods, let’s focus on the sell side.
This first key to success is picking the right homes to list and this starts with knowing the existing homeowners and developers in the neighborhoods you cover. Many of the best opportunities are off-market - that is, they are not yet listed. To do this you need to establish relationships within the community, but it also means getting a reputation for follow up.
Simply put, make sure you return all calls within 60 to 90 minutes. At a minimum, let the caller know you received the call and when you will be available to talk. Doing so will give the cream of the crop when it comes to listings in your area. Let’s face it having the best listings is a sure-fire way to make money.
The next key is knowing the buyers. If most of the prospective buyers are millennials, then you need to make sure the houses you are listing are not priced out of the market. This can be difficult prospect, especially when sellers in the Beltline zone are seeking to maximize the value of their homes but the key to marketing a home is to get it sold as soon as possible.
As such, you might want to look at home staging. This is the art of displaying a home in the best possible light. In the past, this only meant open houses. But today staging plays an important role when shooting pictures and video for listing a home online.
Another common mistake of sales people is to sell futures. This is true when a big infrastructure project like the Beltline is about to come online. But the fact is that the entire project won’t be complete until 2030 at the earliest. That is a longtime off, and it has already been delayed by disputes. As such, a sell-side agent should not focus on the distant future. Instead, use the project as one of the selling points, but don’t oversell if the construction has not even started in the neighborhood.
The Atlanta Beltline has the potential to be a bonanza for realtors in the area as it will push up home prices in certain neighborhoods which will increase commissions. However, don’t fall into the trap of overselling the benefits of the Beltline, especially in neighborhoods where construction is behind schedule. This means knowing the buyers and making sure the house you are representing is priced accordingly. Lastly, get to know the homeowners and developers in the communities you represent. This will give you the best opportunity to pick through the best-off market opportunities, which will make it easier to find the homes which will sell fast.