Why is it important to use an experienced, local agent in your next home sale?
Truthfully, all agents use the MLS for comparable data. It’s a really great source; however, there are a number of other factors that homeowners should consider when pricing their home for the market.
One of these factors includes the homes that sold which weren’t actually on the market. To find out that information, you’d need to use an agent who knows the local market, who’s moving in and out, and what those homes were sold for. That data won’t be found on the MLS.
You should also keep in mind that an agent who is familiar with the area has an intimate knowledge of the market inventory—both active inventory and inventory that has closed. Even though it might seem counterintuitive to you, you need to understand why one home that has similar stats to another might sell for much more or less. A local agent with strong market knowledge will be able to communicate that to you.
“You should also keep in mind that an agent who is familiar with the area has an intimate knowledge of the market inventory.”
This intimate market knowledge also applies to those buying a home. A buyer might want to know what is around the home they’re looking to buy, and what features in the neighborhood might make that home more appealing. They might also want to know why a similar home just a few doors down sold six months ago for much more than this home. A local agent who has looked into those properties would be able to give a much clearer answer than an agent who lives significantly far out of the market area.
Additionally, a local agent will tend to have many more connections in terms of homes that are coming onto the market soon, which would help someone living in a low-inventory market find something that is upcoming or not on the market at all.
When interviewing an agent, you should ask them three questions before you hire them:
- “How long have you been a full-time agent working in the immediate area?”
2. “How many properties have you sold in the area?”
3. “What marketing strategies do you use to help buyers/sellers?”
The answers to these questions will demonstrate their market knowledge and experience and therefore, whether or not they’ll be well-suited to help you with your transaction.
If you have any questions about hiring an agent or about real estate in general, reach out to us. We’d love to be your resource.