When deciding on a subject to write about for this article, I wanted to choose something that would bring you, the reader, much value and advice. The subject of using out-of-town realtors versus local realtors came to me when I had an out-of-town realtor call me up to ask me to help him sell a local property he had listed.
Using a local Realtor® brings many benefits, and the most important type of real estate transaction for which to use a local Realtor® is waterfront properties. Funnily enough, this is where I see most of the out-of-town Realtors® show up. This is most likely the case because of the value of waterfront; it draws them in.
It is for these types of Buyers, who are generally already out-of-town people, that the knowledge the local Realtor® has to offer is most needed. What is the quality of the water? Can my kids swim here, or is it too weedy? Where is the marina or boat launch? Fishing? Regulations? Township services? What is a septic system, and how does it work? If you have not experienced any of these things for yourself as a Realtor® you simply cannot serve your clients effectively, and you will lead them down the wrong path.
For Sellers listing with out-of-town Realtors® many issues can also come up. Pricing the property is a huge part of selling. In the city it is easy to come up with an effective price for a home. When finding comparatives there are many homes that are identical to each other in the city. Rural waterfront properties are one of a kind. No two properties are the same. To price a home you must use experience, market knowledge, and the closest comparable. Most of these factors are missed due to the inexperience of out-of-town Realtors®.
The following is a true story: An out-of-town buyer uses his out-of-town agent as he looks for his perfect cottage. The out-of-town agent finds the perfect property, a well-maintained cottage, nestled in a quiet bay. It is December and the bay is covered with ice and snow. The Buyer buys the cottage! The family is so excited to swim and boat all summer. This all comes to naught when spring arrives because the buyer discovers the bay is so thick with weeds, and has very little water depth that swimming and boating is not even an option. Please do not let this happen to you!
Submitted by Brad Sinclair of Re max Eastern.
Text or Call Brad at 705-927-6236