Why Agents Have to Be Knowledgeable About School Districts
Effective agents take time to understand what their clients are looking for. School districts can play a tremendously important role in this determination as one of the most overlooked — but often most important — factors that determine a home’s value.
School districts can come in many shapes and sizes. Although many school districts are operated on a city-by-city or municipal basis, some cities are further subdivided into smaller and more specific school districts. Other schools are operated on a county basis or are shared between multiple municipalities. Understanding where school lines are drawn, and, therefore, in what school district a given house lies, is often one of the very first things that experienced agents will research when pricing a home or in identifying prospective homes for buyers. The quality of a school district can impact not only the price of the house but also the property taxes and many additional factors.
Moreover, it’s important to understand that the quality of school districts isn’t fixed. Websites like Niche, publications like U.S. News & World Report and federal programs, all release reports on the quality of public school districts. A school’s favorable inclusion in any of these reports can significantly and sometimes immediately increase the value of homes in that school district. Savvy agents know to research these reports for their sellers before pricing a home and can use this data as a negotiating point in advocating the best price for their buyers. Identifying up-and-coming school districts for buyers with young children can mean a tremendous value for clients on a budget, who might then enjoy significant appreciation in their home’s value when their school districts become better known.
On the other hand, if you have clients looking to buy who have spoken openly about sending their kids to a private school. you might be able to save your clients lots of money by suggesting areas in school districts that might be relatively cheaper. If you have clients who are retired, single or won’t be having a family soon, advising them to buy in a district with great schools might be a waste of their money.
If you’re unfamiliar with a city and are wondering why two houses that are a few blocks apart but are functionally the same in every other way can be priced hundreds of thousands of dollars differently, look at the school districts of each home for answers.
Whether representing clients who are buying or selling, researching and understanding school districts can often be the difference between a satisfied client and a lost opportunity.
