Buffalo Grove /Long Grove real estate agent Judy Greenberg gives important tips and strategies on how to sell your home in today's market. Stay tuned for my strategya week series....
Strategy 2- Buyer's should hire a localrealtor!
After all that you read in the newspapers, hear 
on the news, you probably are wondering how you can get the best house and the best deal if you are a buyer, or frightened that you will not be able to sell your home in this market if you are a seller.
So I want you to ask yourself , do you want the best realtor for this challenging job?Isn't' your home one of your largest investments? In this tough market, I feel that hiring a local realtor, instead of a third cousin who lives 1 hour from your home would be one of the wisest financial moves you will ever pursue.
In this post I'm going to address why you want to hire a local realtor if you are a buyer in today' s market and in my next post, I'm going to address why you should use a local realtor if you are contemplating selling your home. Sounds too obvious, maybe to you and me, but not to all the past disappointed past sellers and buyers I have met.
If you are a buyer, your buyer's agent needs to be a true expert in the communities you are interested in purchasing. Your agent should be completely versed in the schools, school districts, boundary lines, commuting, type of water the home uses, conservancy laws, etc.
Let me give you an example. Suppose a school district changed boundaries within the last few years. Many listing realtors are relying on old school information, and submitting incorrect schools or incorrect spelling of schools on the MLS sheets. This is happening more frequently today, especially with the influx of foreclosures and bank owned property on the market. The seller's bank hires the Realtor and this realtor may live and work hours from the property. Unfortunately, these Realtors may never have visited the property, and clueless of the school boundaries. 
Unfortunately, these unintentional mistakes in turn affects the buyer's realtor. Thus, the buyer's realtor who is not familiar with the area will either miss good homes (in their search) in the school district their client prefers, or advise their client to purchase a home in the wrong school district. Even if the listing realtor has the right school district but spells the name of the school incorrectly, you may miss a home in your search. To the right, I have copied a portion of the MLS of an active bank owned property located in Kildeer, Illinois. If you are looking for a home in district 125, Stevenson High School- you will pass over this home since the lister used the wrong district. They didn't even bother putting the name of the High school in the listing either. If a buyer's agent unfamiliar with the area used this information, it would be like the blind leading the blind!
Another important reason to hire a local realtor is that they are familiar with the nuances of the specific neighborhood, ordinances etc. One time a friend of mine moved in to a neighborhood and didn't realize the maintenance involved to purify the well water. Her realtor wasn't familiar with this, and in turn didn't inform her of the necessary upkeep. A local realtor would have been knowledgeable about these issues.
When you are negotiating on behalf of your client, it is always better to be the one who is more knowledgeable about the area. If you are representing the buyer and the seller won't budge on the price, you always have the advantage if you have seen the inside of the comparables and the reason that they sold for the price they did. A local realtor has the upper hand in the negotiations.
The last benefit I am going to address in hiring a local realtor in purchasing a home is that they may be aware of the best homes before they even hit the market. Many times when I have a buyer in a specific price range and they can't find a home that they are truly in love with, I go the extra step. I ask the realtors in my office, Coldwell Banker Residential Brokerage, if anyone has a listing that they know that is coming on the market soon. If this networking proves unsuccessful, I take it one step further and ask my close friends and colleagues I trust in the other offices in town to see if they know of any listing that is going to meet the needs of my buyers. Although inventory is high, and you are probably laughing to yourself that a person can't find a home in today's market, many times the best homes do not even hit the market. It's the local agents who know of these homes first.
Caveat; if for some reason you do choose to hire a realtor that is not local, make sure they do their homework and learn all about every aspect of the home and communities you are buying....
Last week's strategy- Contemplating selling soon... Take pictures of your home now!
If you want more information regarding specific real estate sales in the Buffalo Grove, Long Grove, Vernon Hills, or Lincolnshire area please do not hesitate to call me at 847-602-5435 or email me at info@buffalogrovehomes.com . I am available 24/7 to make appointments!
Visit my websites www.buffalogrovehomes.com, www.buffalogroveareahomes.com or www.movetolonggrove.com and you can search for more information on any listings
GREAT BLOG - Als, I am hoping that a lot of so called REALTORS get out of the Real Estate Business. If you don't have time for your clients, don't offer to help them!
Judy, I couldn't agree with you more about this strategy of hiring a local REALTOR. They are the most knowledgeable about the area and even thinking of the price of gas and time involved to get to that area, the out of area REALTOR DOESN'T get to that area as often. I very much like your series. I feel I am taking a class. I should get an A+ when I am done. Look who I have for the teacher.
Richard... It would make it a lot easier if the so called realtors did get out of the business. Its hard to negotiate with them, reach them, etc.
Gary, You only get an a+ if you pass the final exam at the end of the series.
Excellent Judy! One thing that just came to mind is the fact that relo companies will assign a buyer to an agent, and the buyer does not yet know where they want to purchase...say, somewhere in Northern Illinois. This happened to me when I moved here many years ago. My agent was in Schaumburg, and since my husband's job was in Northbrook, we had that agent looking in areas he was unfamiliar with. Scary, huh?
Thanks Kelly, Once a family decides where they want to live, the relocation company should change agents in order that the buyer gets the best representation.
In this market, it is critical for a consumer to have an experienced and knowledable realtor to represent them and negotiate the best deal for them that fits their goals... great post. Without good represenation, that is where mistakes are made and remorse kicks in and deals blow up !
Great post Judy,
Another great blog...you keep pumping out great info...good work
Judy I agree with this! There are times where I have a new client whose needs are so specialized that I recommend that they work with an agent who specializes in that... even if the search area is geographically very close. I'm enjoying your "tips" series.
Being a local agent should certainly be on the list when you're looking for an agent. So should a lot of other things. There are local folks here who are still clueless about how to work in this kind of market.
Chris, Eric, Chuck, Patricia, You are all right. Yes, it is important that the agent be local, but at the same time all local agents aren't knowledgable either. You need to choose an agent who knows the market!
Judy - Hiring a local realtor is important but aren't you really trying to say that the most imortant thing is that they hire you. I agree. I think they should hire you - especially folks looking to buy or sell in the Burbs, Blurbs - or anywhere in Buffalo Bay for that matter.
You make great points here Judy. By the way I like that catchy blog title.
Too often have I seen "out of area realtors" helping out a cousing or friend. They are actually doing a disservice to their clients.
Michael- thanks so much... I'm going to visit your site now.
Wayne- That's the worst thing... they do not know the nuances of a neighborhood, let alone a city
Sorry Judy,
I stongly disagree.
Buyers in my market start in town "X" and often end in town "Y." During the process we both learn the market. Often times, I preview homes that meet thier criteria to gain a greater understanding of the market (same goes for listings).
We are fotunate enough to have a very informative MLS in MA. Consequently, I'm very good at pricing homes in different markets and getting them sold. Obviously my dialogues are strong and I truely understand the stats. However, in my market, if an agent can't go outside of thier town, they either don't own a computer, will not look at inventory - or both.
Best regards,
Mike
- Our appraisers are from other areas and towns too.
All great points, Judy. I've made it my practice to refer buyers who want to buy in an area outside my expertise, to insure that they get the best representation possible for their home purchase. This also frees up my time to take better care of the clients who are buying or selling in MY area. Great post.
Hi Judy! I commented back to you on my post about this as well! I wanted to stop by and read yours and you are 100% correct! I complain about clients interviewing 5 agents and putting us through the 'interview' process over and over but, you know, I AM happy that they are doing their homework. GREAT post, Judy!
Judy that was an AWESOME post! There are a lot of "Realtors" out there. But it takes a knowledgeable one to REALLY help a client!
Thanks Ken for the kudos! I think that sellers miss the boat many times and do no do thorough research before hiring the right realtor.
Excellent Points! Too often Seller's focus on only the monetary compensation-without realizing the primary objective...Getting the home sold. All Real Estate is local and for that reason exclusively it is imperitive to start with Realtor who is truly an expert.