Benefits of a hyper local focus
Keeping your ad targeting close to the listing may be your first instinct. When people already living close to the listing show interest, it is easier to coordinate showings, invite them to open houses, and they likely already know the area and what it’s like. They may also have fewer questions about the school systems, grocery stores, local businesses, etc.. and be more focused on the features of the property. Together, this local knowledge can expedite the entire process and move you from viewing to closing faster.
Benefits of expanding your audience reach
However, just because someone doesn’t already live in a certain city doesn’t mean they aren’t interested in relocating. Especially during the on-going fluctuations tied to the global pandemic, people are moving to new cities and states with fewer reservations. As employers weigh remote work options, buyers have the ability to look beyond a comfortable commuting distance and search for a home they truly want to call their own. If you expand your reach, you can attract those who previously lived closer to the listing in their past and would like to return, or those who have always wanted to live in that area but weren’t sure how to begin the process across distance.
Looking for properties when not local to an area can be stressful. If you happen to be one of a handful of people advertising your listings to a wider geographic area, you stand to benefit from being the one who stands out. By seeing your ads, a prospective buyer may see that as a sign you’re willing to work with and accommodate them, and it may encourage them to reach out to you about other properties in the area.
So which is the best approach?
There is no absolute right answer. Depending on your advertising budget and your area, sometimes keeping the geo targeting hyer local may make sense for you. But if perhaps you’re in a city that is known to get seasonal visitors – for example, you have listings in Florida communities you know people from large cities in the Northeast migrate to during the winter – you could stand to greatly benefit from expanding your reach.
If you’ve had a listing stagnate with local interest, expanding your reach could also give it a surprise bump in attention. Before getting discouraged, consider partnering with BOOST to expand your reach and see if your listing will catch the attention of someone further away. Perhaps it isn’t the right fit for anyone currently local, but that doesn’t mean it isn’t the right fit for someone else a bit further away.