Hi Jon,
I dont think the agent has to live in the Winston Salem area. It depends on what area the agents specialize in. I live in King and Specialize in Winston Salem. I sale in King as well but mostly in Winston.

Second question. I think it is great you interview multiple agents. Most buyers do not do this, but they should. (Give me a call, I dont mind competing.)

Third question. It will effect you some. I think a great agent will not spend the time with you if they think you are not going to be loyal to them. It is a give and take relationship. Besides, most foreclosures are handed back to the agents to list. I can get you a list of foreclosures. I have also learned many tricks with them.

Here is an example of a great buyer's agent. As far as I know this is a true story. I heard it at a siminar. There is an agent in California (I think that was the location). She is strickly a buyer's agent. This agent has a system where she meets her clients and at that first visit you will sign a buyer's agency with her. Her requirements are that she will only show you 2 homes and you will buy 1 of them, if she has to show you a 3rd house you will pay her dearly to do so. You as a buyer may say no way I would never work with her. She never has to market for business. She has a waiting list 3 to 6 months long for clients waiting to work with her. Her trick is that she spends many hours questioning her buyer about there wants and needs. Than she goes out into the market and finds the 2 homes. She spends days touring homes and crossing them off the list. Most buyer's buy 1 of the 2 homes and are very happy. Happy enough that she works only on referrals from past clients.

Hope this info helps. 2by473

Jon,
You are absolutely correct. I live in Greensboro and even though I technically cover the entire Triad area (which includes Winston) I shy away from working the Winston area unless my client insist on using me. I do on occasion work the Winston Salem area but would rather someone as yourself new to the area use an agent based in that metro area. If they are from the area they will have more insight and know the neighborhoods, schools, recreation, and shopping far better then myself.

As Dunes suggest you need to interview a few agents to decide on whom best suits your needs and basically is a good personality match with yourself even. Yes the smart clients will usually speak with several agents before deciding on whom to hire. Think of it as interviewing for the job of finding you a home. As Rachel brought up though as far as relocation sometimes your company works with a particular relocation firm. These firms such as CARTUS, GMAC, Sirva all have relationships with different real estate firms. Now if you do not like the person first assigned to you do not hesitate to ask for someone else. After all this is one of your largest expenditures you will make.

Any good buyers agent has no problem finding the available foreclosures in the size, and price range you are looking for. I work quite often with investors looking at these types of homes and just got back from a showing of one. Just make sure when you are "interviewing" your canidates you ask how they will find you what you want. Most of the agents in the Triad use Listingbook.com which ties directly to our Triad MLS database. At least that way you can look from your present home at ALL the listings throughout the Triad.

If you need any help finding an agent down in Winston feel free to contact me through my profile here on Trulia. We have several offices in Winston and I can provide you with some contacts to interview if you like.

Hope this helps,

Jon, This link may give you some things to think about in interviewing agents........
http://www.trulia.com/blog/rockinblu/2008/12/i_ve_got_my_fin…

For your plan to review foreclosures you may want to give this site a look....
http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp
The Banks and Gov. list their properties for sale and maintain a database which shows the Price, Address, property description, sometimes photos, and who the property is listed with. Many of the Banks provide these databases to the public for FREE and the above site will provide you with links to those databases. Gov. properties for sale sites are also included..

Hope this helps, Dunes

Jon,

First off, I would like to welcome you to the Winston Salem area of the Triad. Daniele is correct, you should interview at least 3-4 agents to get a feel for their knowledge, experience and personality. Some agents do focus only on a specific geographic area, and others will cover large areas. I am based out of our High Point office, because I live in High Point, however I do a lot of business in the Winston area since I have a lot of contacts there. I would be happy to meet with you and discuss your goals, but if you would prefer an agent who lives in and only does business in Winston, I would be more than happy to put you in touch with one of my strong Winston teamates. Feel free to contat me anytime.

Jason Ewing, GRI/CNS
Coldwell Banker Triad, Realtors

opps.. sorry.. this is me.. my account got mefuddled awhile back and i keep forgetting its fixed.. http://www.listforleswithme.com thanks! Rachel

Sometimes the company you are transferring with will have a preferred realtor group that they use.. you may want to check there first.. And no matter what you buy.. don't do it without a buyers agent.. especially a foreclosure.. just remember a typical real estate transaction costs the SELLER 6%, that means 3 to the listing agent and 3 to the buyer agent or agent that sells the home.. if you don't use a buyers agent.. that means the listing agent.. they guy representing the seller FIRST AND FOREMOST is also representing you.. sound interesting? Yea.. huge conflicts of intrest insue and loads of fun are just moments away..

Jon,

You are correct with your presumption that an agent in the town your looking in will have more in depth knowledge, but any good agent should tell you if they are uncomfortable or not very knowledgable in the area your looking in.

I also highly recommend you interview at least 3 agents to get a feel about their knowledge and where their "bounderies" are. For instance, I live in South Charlotte, I know all about the area, but I have clients looking in Statesville which is an hour away. I am familiar with the area and my clients know I am not an expert there, but they are comfortable with me and know I won't steer them wrong. So to ensure I have the most up to date information, I have utilized the knowledge from my agent friends in that area to ensure I am providing my clients with correct information.

Looking at foreclosed homes... I would stress utilizing the skills of a buyers agent who has had a few foreclosure sales under their belt. It is usually no cost to you and you will have a better chance of your offer being accepted.

Daniele Summerfield
Wilkinson & Assocaites