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Kristen Rishe, Real Estate Pro in Cutchogue, NY

How important it is using a real estate agent who lives in their market place?

Asked by Kristen Rishe, Cutchogue, NY Fri Sep 30, 2011

Most important. A real estate agent living in their market place, knows all the ins and out of areas, beaches, side rides, history of the area.

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Very! I would certainly never let an out of state broker list my home! That comment sounds like someone who just wants to cash in on an undeserving commission. When you get calls on that listing, how do you show it? No open houses, I take it? To list in an area where you have no knowledge and wait for someone else to sell it, is just doing your sellers a dis-service. When a client who was referred from a previous client, called me to list his home in a town over an hour away, I referred it out to an agent in the area who was able to be on site, knew the area, could show the property and sell the property. Marketing is only part of successfully listing and selling a home!
1 vote Thank Flag Link Fri Sep 30, 2011
Very important.Neighborhood specialist can help buyer and seller to accomplish their respactive goal.Thank you.
1 vote Thank Flag Link Fri Sep 30, 2011
This is incredibly important. I used to try to help people anywhere in NE Indiana. Back in 2009 (when I just started) I listed a home an hour away. It was a big mistake. I was so far off on price it was embarassing. I'm glad those days are over.
0 votes Thank Flag Link Tue Jun 19, 2012
Not all that important if living there is all the agent has going for them. Very few agents who live in a town know every street and every property, they have to do research for a listing or a purchase just like any out of market agent. I'd hire an agent from across the country if they had better research, marketing and negotiating skills than some local yokel who gets most of their information from overhearing rumors at a coffee shop. Being local is not enough, an agent also has to have skills.
0 votes Thank Flag Link Tue Jun 19, 2012
If I were a Buyer from outside the market, it would be important for me to have a real estate agent with a strong knowledge of the location I was interested in. I would expect them to recognize good values explain the benefits of the various neighborhoods. The agents local knowledge is of the most value to me. Sellers also need a local agent who can provide a depth of knowledge of the market and utilize the best strategies to get the home sold.
0 votes Thank Flag Link Mon Jun 18, 2012
This area has become a vacation destination. This means there are buyers who are living outside of the market area and are looking to purchase a second home on the North Fork. Many local and second home buyers choose to work with agents who live and work on the North Fork.. The buyers have a list of wants and needs for the homes they are searching for. It is a skilled agent who will know the homes for sale and the neighborhoods and communities that will match the buyers with homes to view that meet thier needs. It is possible for out of area agents to work through the list of homes but it takes longer to find the gems.
Home sellers who live primarily on the North Fork choose local agents to represent the sale of their home. Some Vacation Home Owners Or 2nd Home Owners live off the North Fork and have relationships with agents in their local communities. Some choose to list the sale of their North Fork properties with those associates. The local real estate agents are familiar with the buying habits, challenges, inventory, sales history and nuances of the North Fork Real Estate market. Concerns arrive with frustrated home sellers or buyers who run into agents who are not able to answer questions pertaining to the local market conditions, recent sales activity, zoning laws, school district lines, etc.
0 votes Thank Flag Link Sat Oct 1, 2011
It is extremely important for an agent to live in the market area where they list and sell homes. It is even more important they are familiar with the area, trends in sales, highways, schools, parks, churches,hospitals are part of being able to be knowledgable in teh area you sell. Here in NH we have alot of very small towns. although i do not live in any of teh neighboring towns lesss than 10 min in any direction, i know those areas as i know my own neighborhood, experience is very important to getting a home sold.
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0 votes Thank Flag Link Sat Oct 1, 2011
I think it is extremely vital. You can't replace experience in a market with any tools or marketing tricks.
0 votes Thank Flag Link Fri Sep 30, 2011
I personally believe it’s very important. Real estate is a combination of having the right tools to do the job and the right experience to do the job. It’s great when I can say I did 5 transactions in that area last year as opposed to “can you give me the address and zip code again so I can look it up!” I’m not saying an agent cannot successfully market an area that they are not familiar with but what I am saying is there may be an agent with more tool in the box for an area.
0 votes Thank Flag Link Fri Sep 30, 2011
It makes no difference where the listing agent resides; it could be out of state!

What is important is that they are proven superior marketers.

When I take on a listing (and I am now licensed in 3 states and many MLS's) I don't expect to sell it myself; I don't even want to. I want the local Realtors who know the area to have the opportunity to sell the property.

That makes it a win/win/win transaction!
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0 votes Thank Flag Link Fri Sep 30, 2011
I agree with Sarah, whether the agent lives there is probably not as important as how much business they do there! I also think it would be important to note how large the marketplace is in terms of area size and coverage. In Northern Virginia, I cover a few towns and have spent my entire 32 years in the county.
0 votes Thank Flag Link Fri Sep 30, 2011
Well, then.

Kristen, this might make a better blog post, where you can expand on the benefits of working with a very local, very neighborhood-oriented broker like yourself.

All the best,
0 votes Thank Flag Link Fri Sep 30, 2011
I don't necessarily think the broker needs to live there, but he/she certainly needs to be pretty familiar with the area. For instance, I live in one town on Cape Cod, but am VERY familiar with a few of the surrounding towns having lived in the area for 28 of my 35 years of life.
0 votes Thank Flag Link Fri Sep 30, 2011
very important. Agents that live in their market (specifically own and actively buy real estate) know the market better than those from other locations.
0 votes Thank Flag Link Fri Sep 30, 2011
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