Home Buying in Woodstock>Question Details

Cdp94investor, Both Buyer and Seller in Hawaii

Can I use the same agent locally to buy/sell for me out-of-state virtually?

Asked by Cdp94investor, Hawaii Tue Oct 11, 2011

I'm real estate investor *newbie* living here in Hawaii looking to expand my investment out of state. But I'm having a hard time looking for out-of-state agents who is willing to work with me virtually. Need help

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Answers

12
Darrell Hess’ answer
Yes you can expand your investment portfolio out of your home state. You just need a good agent licensed in the area you want to purchase in working for you. I work with several out of state buyers and the help for the needs and wants of each investor is tailored specifically for them.
Web Reference: http://timetomove.biz
0 votes Thank Flag Link Tue Feb 14, 2012
I would be glad to talk with you virtually and see if we can come to some agreement.

John Reinhardt
Solid Source Realty

REALTOR

T (678) 310-9811
1 vote Thank Flag Link Tue Oct 11, 2011
Hi, I think part of the problem is buying a property without physically seeing it. They may also question how serious you are, especially if they don't sit with you face to face like their normal buyers. Maybe you should forge a relationship with one agent and take the time to fly out and meet with them once so they can see you are real and serious.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023
1 vote Thank Flag Link Tue Oct 11, 2011
The ability of your local (Hawaii) agent to earn a commission assisting you purchasing property in another state will be limited by that state's rules. Most states require an agent to be licensed in the state the transaction is taking place in order to be compensated.

There are a number of potential pitfalls you expose yourself to when buying virtually, your Hawaii agent probably has little knowledge of the areas you're pursuing and would be at a real disadvantage in terms of offering you counsel and after all that's what you're working with them for.

Working with an agent you've not met and buying property you haven't seen is twice as risky and the reasons should be obvious. I work with investor here in my area, but would be very reticent indeed to have a client purchase something sight unseen and would definitely want them to sign a wiaver of liability. I have no such qualms handling the transaction long distance, I've done this for years and new digital signing technology makes this easier than ever before, but selling you something you haven't seen is another story entirely.

I have no doubt you can find many people willing to sell you property virtually, however I would seriously caution you against doing so. As they say "a fool and his money are soon parted" You need to be prepared to fly in and do your own diligence before making any financial decisions to invest.

Good Luck!
1 vote Thank Flag Link Tue Oct 11, 2011
It really depends on two things. The Agent and how much trust you are willing to invest in them.

There are no rules preventing you from selecting a single agent to aid you in accomplishing your real estate goals, and in general is a good idea since you already have an established relationship with them and are not rolling the dice every transaction and possibly ending up with an agent that doesn't work well for you.

I perform Real Estate transactions in Southwest Florida and with the investor market in this area really ramping up my firm has a lot of experience dealing with out of state and international buyers as well and I would love the opportunity to aid you if you decide to invest in this area.

With CNN Money and various other financial organizations rating Cape Coral & Fort Myers as one of the best places to retire or live and amazing homes on the water available in the Low 100k range investment opportunities abound.

Please check out the blog that I have written on my website that provides a link to the CNN Money article.

I encourage you to check the area out and If there are any questions I can help you with no matter where you decide to invest please feel free to call or email me any time!

Good luck with your real estate endevors!

Anthony Cincotti Realtor®

Mobile: 239-362-6481
Email: AnthonyCincotti@gmail.com
Website: http://www.maximrealtors.com/anthony/
1 vote Thank Flag Link Tue Oct 11, 2011
Hi Cdp4investor,

You have to use a local real estate agent for the buying and selling of out-of-state homes. Since you are located in Hawaii, I assume that you are referring to other states in the US. Some agents are licensed in two states if the states are in close distance with each other.

However, you can ask referral from your current agent.

Best of Luck.

Maria
1 vote Thank Flag Link Tue Oct 11, 2011
The Agent helping you in Hawaii would also have to be licensed in the state you were looking to make your purchase in.

If your still having trouble finding an out-of-state agent willing to work with you virtually, I can help you. If you would like to receive a Foreclosure Hotlist for the Seattle area, you can obtain one for free by visiting the link below.
0 votes Thank Flag Link Tue Oct 11, 2011
If you really like your Agent, you could offer to pay for them to obtain their license in another state (if it's reciprocal with the state they're currently licensed in). If the Agent would be willing to do that.
0 votes Thank Flag Link Tue Oct 11, 2011
You can have a local realtor refer you to a realtor in the area you would like to invest in. Keep in mind when you see pictures of the property you are seeing the best of the property. If you plan to buy site unseen it is likely you will be disappointed when you see the property in person. Make sure the realtor is a licenced realtor and knows the area that you are looking to invest in and you tell them exactly what you want.
0 votes Thank Flag Link Tue Oct 11, 2011
Ask a local real estate agent to refer you to someone in the areas you are looking at.
0 votes Thank Flag Link Tue Oct 11, 2011
Most real estate agents are only licensed in one state, unless they happen to live close to another. Unless an agent is licensed in more than one state, then they could not assist you outside of GA.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Conventional | FHA | FHA 203K Renovation (Streamline & Consultant) | HomePath® |
HomePath® Renovation | VA | USDA | GA Dream | Jumbo Financing
Web Reference: http://www.rodneymason.com
0 votes Thank Flag Link Tue Oct 11, 2011
Cdp,
You say: " I'm having a hard time looking for out-of-state agents who is willing to work with me virtually."
Please clarify as I'm not sure what you mean? An agent or broker in your area should be able to refer you to a buyer's broker or listing broker in most any area that you are interested in. The local broker can qualify your needs and financial info so that the agent in the other area know that you are "for real". You also could sign a buyer brokerage agreement with a buyer broker that you locate online (in most areas at no charge but please check it out ) and the same with selling but then it would be a selling/listing broker and a listing. As you live in Hawaii you could also invite an attorney, a broker or agent from your target area to visit you to work with you.
(As we are nearing Halloween this brings to mind Bram Stoker's account of a real estate agent's trip to Transylvania to meet with a buyer! .....) Happy hunting! LOL!
0 votes Thank Flag Link Tue Oct 11, 2011
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