Choose Local: What are the benefits to working with a local REALTOR®?
Recently, rumors have circulated that real estate licenses could become interchangeable from one state to another. While it may sound appealing and offer some convenience in choosing who helps you sell your home, if this comes to pass you’ll want to keep in mind what the benefits are to working with a local REALTOR whether you want to sell your home, or buy.
Each Spring many new listings come on the market, some of them significantly overpriced. When I look them up, often the listing agent is located 50+ miles away from the property. Overpricing can be a real problem for the seller, because their home will linger on the market and likely remain unsold, well past the peak of the season. With the wrong price, you may not even sell your home. This is one of many issues that could emerge from such a change and end up hurting both sellers and buyers.
One of the most important jobs your REALTOR has is helping you choose the right price to list your home. Your REALTOR can use the Multiple Listings Service (MLS) to show you comparable properties nearby. These properties will be ones currently on the market and ones that have sold in the last few months. A local REALTOR will know which are the most comparable properties, in the most similar neighborhoods. Your REALTOR will use the pricing and sales data from the MLS, along with their first-hand knowledge of the area, to determine a price range they recommend. Ultimately, the pricing decision is yours. It is critical to get the best possible information and advice to make your decision. Your local REALTOR brings a wealth of local knowledge to help you.
The laws governing real estate are something else to keep in mind, and tends to be why local REALTORs are your best resource when buying or selling a property in any given area. Federal real estate laws are the same for all states. State laws vary widely. Real estate agents have extensive coursework and testing that combines both federal laws and the real estate laws of their respective state. Colorado requirements for licensing and retaining a license are among the toughest in the country.
Recently, I saw the contracts used in Oregon. That illustrated for me the differences in state laws. While almost all of the wording and content was instantly recognizable, there were addendum that are unique to Oregon that a local REALTOR in Oregon would use with ease. Colorado contracts also have addendum that are unique to Colorado, and important to use correctly. For these reasons, choosing a local agent to help you buy or sell your home is especially important.
So, how do I find a local Real Estate Agent?
Most people buying for the second or third time have worked with one agent in the past. Many times you are happy to list your home with them. Sometimes it is not so clear who to choose as your listing agent.
There are some things to look for in choosing the agent to sell your house. Start by looking on the internet, and ask any friends and family in the area for their recommendations. Having the referrals of people you trust is priceless. From there, you’ll want to narrow your search to REALTORs that work in your area and have a good reputation. Look for someone who responds quickly and can answer your questions. Plan to meet a few agents. You need to find someone who feels right for you.
If you’re looking for a local REALTOR in Northern Colorado, you’ve come to the right place. I encourage you to check out my about page, and when you’re ready you can reach me via my contact page.
Everything here is presented as friendly advice. Nothing here is to be considered legal advice.