For home sellers, there are a series of important questions that should be answered in the process of hiring a real estate broker.
This video discusses a question that I was recently asked:"How many homes have you sold in the neighborhood?"
It's a good one: Should you hire the local neighborhood pro?
The first thing is that one needs understand exactly what they want and their goal: if it is to get the highest possible net proceeds in the timing that they needs, then the local expert may or may not be the right broker.On the buying side, detailed knowledge can be very helpful. But on the selling side, where marketing and advertising is the skill that's needed, there is no necessary connection between being great at marketing and advertising and detailed local knowledge.
There can be potential pitfalls in just picking the local expert:
1. Neighborhood pressures. An agent that works a neighborhood may experience pressure for a specific buyer ("My brother wants to live here" or "I'd really like my friend to get this house - and don't you want to be the one to list mine when we sell?") - and this may not be the best buyer for the home.
2. Contrary marketing agendas. Agents love "Sold in 1 day" or "Sold 105% over asking price" marketing pieces (I sure do!). But this tempts an agent to put price pressure on a seller based upon their own marketing needs and not the wishes or desires of a seller.
3. Local buyer focus. Oftentimes, the further a buyer is traveling to move, the less price sensitive they will be. An agent who has long-standing local buyer relationships may miss this type of buyer altoghether.
4. Local brokerage. An indepdentent local brokerage will not have the national and international scope to cast a sufficiently-wide marketing net. That will miss potential buyers.
Shorter answer: the local pro definitely isn't automatically the right agent.
A better question: What is it about you, your brokerage, and your selling program that will get me a higher net proceed, in the timing that I need, than anyone else?
If you'd like to learn more about my system and 9-part selling strategy, please contact me!