Comments on: Location… Location…. Location…

By: Matt Wilkins

Matt Wilkins — Tue, 21 Jul 2009 23:02:43 +0000

Very interesting conversation happening at http://is.gd/1GGCm Gotta love saying what many people are already thinking. #AG

By: MattThomson

MattThomson — Tue, 21 Jul 2009 18:11:51 +0000

I'm in full agreement with you, Matt. Our markets vary so greatly in just a 30-45min. drive that it's a disservice... http://cli.gs/P5Mm4

By: RealEstate Babble

RealEstate Babble — Tue, 21 Jul 2009 17:14:53 +0000

AgentGenius: Location… Location…. Location… http://tinyurl.com/lkeyjn Full http://tinyurl.com/mbotq9

By: Ken Brand

Ken Brand — Tue, 21 Jul 2009 16:13:30 +0000

Thoughtful post. Here’s my 7cents.

You can’t “represent” a client in an area you don’t know. If you do, it’s not “representation”, it’s chauffeuring or mutual adventure seeking with unpredictable outcomes.

If you don’t know the area/market, refer it or invest the time to learn it before you maim someone’s real estate dream.

By: Matt Thomson

Matt Thomson — Tue, 21 Jul 2009 14:11:50 +0000

I’m in full agreement with you, Matt. Our markets vary so greatly in just a 30-45min. drive that it’s a disservice most of the time to work much beyond that radius. I’ve found that getting a $1500 referral fee for placing a client with a truly local expert often feels a lot better than a $5000 pay check for struggling with a distant sale. I’ve also found that with the number of referrals I’ve sent to neighboring KW offices, I’ve become “The Guy” in Gig Harbor and our immediate surrounding area. It’s not an even ratio, but I’ve gotten several referrals back, and my $ per hour sure looks better. It’s just another form of leverage in my opinion.

By: Marie Kratsios

Marie Kratsios — Tue, 21 Jul 2009 14:07:36 +0000

Matt, I agree with you to a point. I live on the north shore of Long Island and I wouldn’t pretend to know what I was doing in, say, The Hamptons. Even though we are in the same MLS area and I’m out in the Hamptons most weekends, the truth is, as you suggest, there is a lot of local real estate “knowledge” (things you couldn’t find out on the internet, etc) that would probably be leaving my client at a disadvantage. On the other hand, there are areas 20 to 40 minutes south, east and west of where I am–same MLS–that have their own “lockbox” customs, showing procedures, even offer procedures. Would I show property in these areas? Sure! Take a listing? You bet! But I agree with you–having a plan is essential.

By: Joe Loomer

Joe Loomer — Tue, 21 Jul 2009 13:16:17 +0000

Matt,

I think it depends on your area. You being in Northern VA, you have a vast assortment of areas, counties, subdivisions, townships etc. to consider.

Here in Augusta, an area known locally as the “CSRA” – or Central Savannah River Area – we have a population of roughly 540,000. It is much easier to become extremely familiar with most areas – including historic landmarks, places of interest, shopping centers, crime statistics, school reputations, etc.

I have actually broadened my horizons in this market to work areas I did not focus on before. It required some study, but nothing too intense. USDA loans, for example – are in use in our area, and there are funds available to military members who lose money on the sale of their properties. Things I did not know about before, but studied up on to ensure I had something of value to propose to the new client base I was courting.

Just my thoughts – I think all real estate is local, so when in Rome….

Navy Chief, Navy Pride