Location and the Real Estate Agent
We have all heard that age old axiom that the three most important aspects of real estate are Location Location Location! This is absolutely true since real estate is fixed on a given spot and is influenced by not only where it is, but also what it is and what is around it. But what about choosing a broker or agent to help you buy or sell a property?
Location also applies to the people who market real estate. Unless you live in or are planning to relocate to a very small town, it is questionable whether or not a given agent is really familiar with your neighborhood, the schools that your kids will attend, the crime rates there, and many other considerations. In general, while most agents in the larger cities have access to a large volume of real estate information over a wide area, it is next to impossible for an agent to know everything of importance about every neighborhood and property in the city. There is just too much to know and not enough time.
A competent real estate agent at a minimum should be very familiar with the properties and homes that are on the market in a neighborhood along with what has recently sold. One way they do this is to preview homes for sale by taking tours of open houses. This allows them to know what the interiors of homes are like and what the home has to offer, which enables them to help a buyer find the right property. This also helps an agent to list a home for sale at the right price by understanding the competition. It is not likely that a given agent is going to be able to preview every home for sale all over town because in a large city, this may involve visiting hundreds of homes as opposed to a relative handful in a given neighborhood or part of town. And the agents who work a specific location the most will often have shown many of the homes for sale several times, making them even more knowledgeable about each one. They will know which homes have the offensive wallpaper you do not like or that have the lovely landscaping you do want. They will know which homes are a genuine bargain and which ones are over priced. In other words, the local agent is better prepared to show you the homes that match your needs and desires.
Many real estate agents will select a certain neighborhood or area of town to concentrate their efforts on. This is the area that they will study carefully and is often the area they themselves live in. They will know about the quality of the local schools, availability of shopping, recreational opportunities and other features that a potential buyer is likely to ask about. Sellers want to know that an agent is familiar with the area and is likely to do the best job of marketing for them. The home owner who has added special features or equipment to a home wants to be assured that a listing agent will recognize the benefits of that feature in comparison to other homes currently for sale in the area.
A city like Austin, Texas is part of a large metropolitan area, being surrounded by several adjacent and nearby cities. Each area of town and each suburb has its own cultural, economic and employment profile. It stands to reason that an agent who concentrates on an area in the south side of town is less likely to be completely familiar with a neighborhood in the far north part of town or a north suburban city like Round Rock. Of course, there are always exceptions to this rule, but ordinarily a client can expect the best service from the local agent.
These same principles hold for rural and acreage properties. Agents familiar with the ranch land market in one area may not be familiar with farm land or forested land in other areas. By example, if an agent deals in ranch land, he or she is probably going to understand the needs of buyers and sellers with horses, whereas the agent who deals primarily with small, heavily wooded tracts that appeal mostly to residents who desire maximum privacy may not be the right choice to list or recommend a ranch for horses. After all, you don't hire a carpet salesperson to sell your car, so why hire an agent who isn't familiar with your area or your needs?
