Is a Local Realtor Your Best Option?

The decision to buy or sell a home may not be as big as the sign reads, but it’s probably in the top 10 most important things you’ll do in your lifetime. The first thing most of us consider when going through this process is who we will choose as a Realtor and how will we go about this. Do I go to the internet or look for the phone book? Do I choose a small or a big firm? How many agents should I interview? What questions should I ask? How will they advertise my house if I’m selling? Are they on the MLS (Multiple Listing Service)? If I’m buying how much communication should I expect?

There are so many decisions to make that can determine how smoothly a home sale or purchase will go and the wrong choice can make for a very bumpy road. We will get into interviewing agents and specific questions to ask in later blogs but there is one specific thing that any Realtor you consider needs to have on their resume. Big firm or small, 20 years experience or a new agent does not matter. If they are not a local Realtor you are asking for trouble. When we say local we mean someone who operates their business within a 10 square mile radius. For example, if you’re looking to buy a home in Plainfield a local Realtor would be someone from Bolingbrook, Aurora, Lisle, Plainfield or other nearby towns. A Realtor who operates in say Schaumburg or Libertyville is clearly not “local”. Let’s talk about the advantages of working with a local Realtor.

1. The most obvious reason to choose a local Realtor is that they understand the housing market where your interests are. They have listed homes and have found homes for buyers so they have a better idea than anyone as to what you should list or buy a home for. Let’s say you have a home to sell. A good local Realtor can tell you what his buying clients have been looking for in your area. If most of the homes he sold in the past 6 months all had updated kitchens or baths and the homes that were outdated took twice as long to sell, then you need to know this.
2. Local Realtors have local connections, industry professionals that they have worked with in the past and trust. You may need an appraiser or a home inspection company. If you do need to make repairs a good Realtor will know affordable and reliable contractors. A Realtor has close connections with lenders. This lender / Realtor relationship can play a crucial role in getting your mortgage approved on time. Working with local people that your Realtor has recommended gives you a huge advantage. Not only does a lender, home inspector or attorney work for you but they have an extra obligation to keep their relationship in tact with the Realtor.
3. A local Realtor will have his finger on the pulse of the community and the different neighborhoods within that community. They are aware of the schools that your children would attend. They are also more likely to be aware of adverse market conditions that could affect your purchase.
4. Local Realtors work and live near the area where you are buying or selling. This is especially important in today’s hectic world. With our busy schedules it’s comforting to know that when you have an unexpected opportunity to get out and look at homes your local Realtor is way more likely to be able to accommodate you. When working with a Realtor who is not local you’re more likely to have to view homes on his schedule, not yours.

In later blogs we will discuss how to choose the best local Realtor to fit your needs and also share some nightmare experiences of clients of ours that started out by using someone who was not local. Unfortunately some of these stories included friends or a friend of the family that was a Realtor. A good Realtor will know to turn down a client if they are not from the area where a buyer or seller is looking, even if that potential client is a friend. We are also available to answer any questions you may have regarding anything to do with the real estate industry. Always feel free to email us with any questions at 3cornersre@gmail.com or give us a call at 630-448-5777.