One of the biggest financial decisions you can make is whether to buy or sell a residential property. To help navigate this often rocky, tumultuous road, it’s important you take great care in selecting a Realtor you trust. One way to hire the best person for the job is to come to the interview armed with a list of questions, the answers to which should help determine who is the most qualified to work for you. We’ve talked about the importance of hiring a full time versus just a part time agent. Next you should find a neighborhood expert.
Find A Neighborhood Expert
Block Captain- Ask any potential Realtor you’re thinking of hiring whether or not he/she is a neighborhood expert. What does that mean? Basically, where is the ‘farm’ (or perimeters of streets) he currently markets to and how long has he been busy in this particular area. Get specifics! Ask how many properties he’s sold and the average dollar amount per square foot he was able to get. A true neighborhood expert will be able to share details not just about his own listings but for all the other listings currently on the market in a specific neighborhood. What’s also special about hiring a true local expert is his access to the much coveted ‘pocket listings.’ These are listings that are not wildly advertised but an agent has inside knowledge about a property that could be sold off market, often at a bargain for the buyer. Mr. John Smith who’s lived on his street for 50 years is most likely not going to whisper his desire to quietly sell in the ear of Mr. New in Town Agent. On the contrary! A real neighborhood expert is often considered the eyes and ears of the area. There’s an often correct assumption that the local Realtor knows what’s going on with new constructions, building codes, Homeowners Associations, schools, new buyers, etc. If you have your heart set on buying in a specific neighborhood, it behooves you to research whom has done a lot of business in the area and then interview him as well as his competitors (there are usually multiple experts in larger, more lucrative neighborhoods). Once you establish who the experts are, then the decision as to who to hire is often made based on other criteria. Hiring a local expert is certainly not the only reason to utilize a Realtor services, but it sets a crucial foundation that should be acknowledged. If knowledge is power, then a local expert is the mightiest weapon in your real estate arsenal.