Reasons to Hire Neighborhood Specialists
It's especially worrisome for out-of-town buyers who are moving into a new area and may not know which agent to contact. The unsuspecting buyers who select agents based on the agents' puffed marketing may find they are in for a rude awakening after the home closes escrow. These buyers can end up living in an undesirable part of the neighborhood, pay too much for the home and not receive the types of home inspections specific to the area. For all they know, their agent might be brand new to the business, with no experience whatsoever in the neighborhood, much less in real estate.
A neighborhood specialist, in part, is a real estate professional whose home and / or office is located in or near the neighborhood, is actively taking listings in the neighborhood and / or represents buyers who buy homes in the neighborhood. A neighborhood specialist possesses intimate knowledge about an area that other agents do not, and can advise clients not only about the positive qualities in an area but also the negative. Neighborhood specialists provide full disclosure.
Sometimes I will see an "area expert" sign on a listing in my neighborhood of Land Park in Sacramento. Since I work with the active listing and selling agents in this neighborhood, I immediately know if the agent touting expertise is truthful or full of hot air. But buyers and sellers don't know the difference, unless they ask for proof, which few do. More than one agent has been hauled before the Board of REALTORS for falsely claiming to be a neighborhood specialist because duped sellers and buyers have filed complaints. Why? Because the agents advertised they had specific knowledge, were held accountable for that knowledge and failed to deliver that knowledge to the client.
For more information about how you can you avoid being hoodwinked by some wanna-be experts . . . read more about neighborhood specialists.
More Articles by Elizabeth Weintraub, click below:
- Questions to Ask Your Real Estate Agent
- Working With Experienced Agents
- Relocating and Buying in a New Area
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Comments
Great article. One way to tell a good agent from a bad agent is that the good agent will tell you his or her limitations. The good agent will say, “I work primarily (I specialize, I am an expert) in the these areas. I have sold homes in these other areas. And if it turns out you want to buy in any other area, you tell me if you want me to represent you or if you want me to refer you to someone else.” For areas that are out of an agent’s expertise, a good agent will let the client know that the agent will be learning the area with the client.
A bad agent typically won’t even have this conversation.
That is true. Agents who pretend they know areas do a great disservice to their clients. Buyers should ask the agent how many homes the agent has listed or sold in the neighborhood where they want to look, especially if the agent isn’t forthcoming about their so-called expertise in that area. Thank you for commenting.