Locality is Everything in Real Estate

We’ve all heard the old saying: “The three keys to success in real estate are location, location, location.”

And it’s true - location dictates almost everything about the success or failure of a property. Rents, tenant traffic, occupancy, and long-term potential all tie back to where a property sits. But here’s the nuance most people miss: locality isn’t just about the pin on the map. It’s about the people, the rules, and the rhythm of how things get done in that town.

When Your Reputation Doesn’t Travel

You can build a portfolio of hundreds of units in one city and know it like the back of your hand - the players, the official rules, the unwritten rules, even the cadence of approvals and inspections. You’ve got a smooth system.

Then you branch out into a new market. New town. New project. Suddenly everything feels off. Delays pile up. Approvals take longer. Miscommunications creep in. It feels like the town is against you.

But here’s the catch: they’re not. What’s really happening is that your reputation didn’t come with you. In real estate, reputation is hyper-local. And success depends on learning how that municipality thinks and operates.

“The three keys to success in real estate are location, location, location"

Every Town Has Its Own Pulse

Each municipality has its own style, its own priorities, its own “buttons” to press. What works in one town may flop in the next.

• Neighborhood: Just because someone a block over is charging higher rents doesn’t mean you can. Know exactly what “side of the tracks” your property is on and how that affects demand and pricing.
  
• Market: Understand the demographics. What are your tenants’ incomes, lifestyles, and priorities? Align your rents, amenities, and marketing to them - not to a generic market average.
  
• Regulations: Every town has its own set of codes, requirements, and programs. Learn what you can and can’t do before you buy. Getting blindsided by local rules costs time, money, and momentum.
• ‍Area Nuances: Beyond the data, know the culture of the area. Who holds power? Who has influence? What pace do decisions move at? These nuances matter as much as the numbers.

How to Win in a New Market

If you’re stepping into a new market, don’t assume your track record will automatically carry weight. Treat it like your only deal. Study the town. Learn who’s who. Understand the process. Build relationships.

Because here’s the real secret: you’ll move faster when you’re not just respected, but trusted. And trust comes from showing up as someone who knows the place and wants to work with the people who run it - not around them or over them.

Know the people. Learn the pulse. Build the trust.

That's the foundation of real estate.