Special offer

There Is No Such Thing As An "Area Specialist" - Anymore

By
Real Estate Agent with RE/MAX Compass 0524642

I have memories of 1985. Back to The Future, Scooby Doo & throwing pine cones at my neighbors cat as it scurried up over a tree that passed through our back yard. I was 12 at the time. Back then there was no MLS or Dat Dare Internet.

I remember my Dad calling over the local ERA "subdivision expert" as she called herself. When my mom and pop were ready to go looking they simply hopped along for the car ride as SHE knew where all the houses were in the neighborhood that my parents wanted to relocate the family. It made sense. She had sold homes there, she had very productive Open Houses and even knew "what homes were selling for." It would stand to reason that the average agent 80 miles away could not possibly have that same knowledge without "living" in the same area.

Today, many Realtors still hang their hat on the same pitch - the neighborhood specialist, or more comically known as the AREA SPECIALIST. I guess they use this rider on their real estate signs and in their flyers because they want and hope that the consumer will "buy" into the notion that "they must know the area best!"

 

What's the difference?

 

Everything...

 

Today we have an MLS, the Internet and hundreds if not THOUSANDS of online resources that advertise homes, their trends and even their values. You can GOOGLE just about any neighborhood you have a desire with & instantly be fed gobs of info.

Lets say you want me to provide you information in a neighborhood that I've never once stepped foot in. And lets also assume you enlist the insight of a so called "area" specialist. For giggles sake lets say I'm on a Cruise ship off the coast of Sweden while your "local Realtor" is at your kitchen table.

 

Who do you think would provide you the best information and why?

 

My guess? We both could.

 

And it wouldn't matter that the agent whose at your table has sold 7 homes their in the last year. Why am I sounding so arrogant you ask? It's simple.

 

1. I have the same information available to me as your kitchen table agent does. The exact same.

2. I have the same information available to me as your kitchen table agent does. The exact same.

 

Did you know that over 80% of the time a BUYER'S AGENT brings the buyer to a listing? Rarely does the listing agent "find" the buyer. Often, these buyer's agents have never even HEARD of the neighborhood! They find the listing on the WORLD WIDE WEB, the local MLS.

 

The Internet has most agents spread out all over the place & not just in "one neighborhood."

 

This week I ordered NEW sign riders. They read..

 

Everywhere Specialist

 

Posted by
Greg Nino
Realtor
RE/MAX Compass 
Direct & Text 7 days a wk: 832-298-8555 
 
 
Realtor since 2004
Mediator & Arbitrator for the TX Assoc. of Realtors
Member of the Professional Standards Committee for the TX Assoc. of Realtors
Arbitrator for the Comptroller's office for the State of TX for Arbitration of Property Tax Values

 Member of the RE/MAX Hall of Fame & Platinum Club

 

The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.  

Comments(132)

Stephen Arnold
HomeSmart Elite Group - Scottsdale, AZ
CRS, GRI, SFR

Perception really is everything in our business!  The majority people work with someone that they like...I would certainly hope that most of my client's would want me on their team, even if I was not the area specialist.  As professionals...we should be able to get a handle on a neighborhood within 3-5 days with some due-diligence, beating down some pavement and few phone calls!

Jan 30, 2010 10:32 AM
Dawn A Fabiszak
Private Label Realty ( Denver metro area, Colorado - Aurora, CO
The Dawn of a New Real Estate Experience!

Greg~  Can I follow your lead on the sign riders!  Occassionally an agent may have a slight upper hand.  For example, I market my own neighborhood.  I had my house built and am familiar with every floorplan in the subdivision.  I am also on the HOA board.  I feel I know what is going on in the neighborhood as well as know the market.

Jan 30, 2010 10:42 AM
Lisa Stafford
Broken Arrow, Tulsa, McGraw Realtors - Broken Arrow, OK
Broken Arrow OK Homes For Sale

Wow, what an education here.  I do believe we have to know more about an area than just what anyone can find on the web.

Jan 30, 2010 11:04 AM
Ron Parise
LocateHomes.com - Cape Coral, FL

I hope you are wrong in your assessment. because if you are right there is no longer a need for what I do

What you say may be true for listing agents...All the pricing info you need is available to everyone and almost anyone can stick a sign into the ground, anywhere.

Buyers agents though are a different story. We get paid to help folks answer questions like:  Would this be a good place to raise my family?  or  Is the tennis or golf played here competitive, or recreational? or how long will it take to get to the best fishing from this canal front home?

 Recently I was showing condos in a golf community and I was able to introduce my client to the guy that holds the course record. That one introduction convinced my client that he would be happy in this community .....and I will be presenting his offer on Monday. I dont think it would have happened without the personal and intimate knowledge of the community that I have

One more thought....have you ever seen an ad that says something like this...."This community is the best kept secret in town"...Its no secret to the folks that live there or the real estate agent that has made that community their specialty

Jan 30, 2010 11:26 AM
Barb Fischer
Big Block Realty - La Mesa, CA
San Diego and La Mesa Real Estate

With all the info out thre, I can see both sides of the coin. But I believe a true specialist really knows all the non-home issues and events of a given community

Jan 30, 2010 11:32 AM
Damon Gettier
Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert - Roanoke, VA
Broker/Owner ABRM, GRI, CDPE

I am sorry, I am not trying to make this blog take a wrong turn but really!  Does anyone think that just by having access to the MLS and tax records you are a neighborhood expert? 

Do you know when the neighborhoods close the streets for the neighborhood street parties?

Do you know when and where the neighborhood yard sales are?

Who cuts the grass in this neighborhood and does a good job?

Where is the baptist church? The Lutheran? Catholic?

Where would the kids go to elementary school?  No, don't read the MLS print out....show me...take me there.

Where are the neighborhood restaurants and which ones have you eaten in?  Can we go to one?  Will they know you when we walk in?

Where is the fire department in this neighborhood?

Which streets are cut throughs with high traffic on them....I have kids you know.

Where is the local bank?

How about the local pharmacy?

What is the quickest way for me to get to work in the morning?  Is there an alternative route?

Where are the parks for my children and pets?

Can I take my pets off leash?

Where is the dog park?

My point is that yes, a neighborhood specialist is something that cannot be learned on the MLS or online.

Sorry...just rubbed me a bit.

 

Jan 30, 2010 12:01 PM
Karen Rittenhouse
www.JKKPropertyInvestors.com - Greensboro, NC
Real Estate Investor

I'm so thankful for the internet.  But I have to say, with the world at my fingertips, I'm far more 'expert' on the area where I live and "specialize". 

But no matter what the sign rider may say, some realtors are just good and will be experts no matter where they're working, some realtors are bad even in their own backyard.

 

Jan 30, 2010 03:09 PM
Bernadine Hunter, SFR, ACRE
Keller Williams Greater Columbus Realty - Pickerington, OH
"Finding Solution to Your Real Estate Needs"

Lots of debate on the topic. I guess the ones who favor the "neighborhood specialist" model will disagree and vice versa. I say, why not both. We have to be flexible in this market and understand what the client needs, not where our comfort zone is.

Jan 30, 2010 09:09 PM
Greg Nino
RE/MAX Compass - Houston, TX
Houston, Texas

Damon - lol, I think I get your point big guy! Look, this is from a "value" perspective.. as in a SELLER wanting to know what their VALUE MIGHT be, the mini comparative analysis UPFRONT, JUST in the beginning! Okay? Don't worry, I'm not saying a buyers agent or human Realtor is useless! lol. Thanks for the comment!!!

Jan 31, 2010 01:56 AM
John MacArthur
Century 21 Redwood - Washington, DC
Licensed Maryland/DC Realtor, Metro DC Homes

it is easier to sell what you love.....it is easier to love what you know.....there is a vast difference between clinical information gathered from any source and knowledge gained from living in an area. why would anyone choose scholarly babble over actual experienced conversation. as much as i respect my colleague paul....the comment referring to actually knowing an area, commuter routes, banks, restaurants, parks, etc speaks to what we are supposed to offer.............we list a living experience and we assist buyers in obtaining one.......factual knowledge of dirt and bricks is secondary.

Jan 31, 2010 08:49 AM
Greg Nino
RE/MAX Compass - Houston, TX
Houston, Texas

John,

Selling yourself along with knowledge is all that counts. How it's done and what the seller buys into is what my approach was with all this.

Jan 31, 2010 10:01 AM
Russell Lewis
Realty Austin, Austin Texas Real Estate - Austin, TX
Broker,CLHMS,GRI

Greg this is a good thought provoking post but like many others I have to take issue with your generalizations. Though I do agree with your assessment of many who lamely proclaim the moniker "area specialist" in name only. In Austin, I work in a few narrowly defined areas and know these markets as well or better than anyone. and frankly have a strong and long history. Along with a number of my associates where I work,we often receive contact from agents who are planning to list a home and wanting to give us a heads up or conversely from Buyer agents who contact us wanting to know of anything that is coming on the market soon or what we might have in the way of pocket listings.

All in all I think Slaybaugh said it best in comment #116 & Damon in #122.

Jan 31, 2010 10:20 AM
Jenna Dixon
Momentum Real Estate Group LLC - Marietta, GA
55 & Over | New Constructions | Horse Farms

Interesting commentary on both sides.  I guess I consider myself an erea specialist for Cobb County and our 600,000+ residents, but I sure do not market myself that way. 

As for those little tiny niches for "subdivision/neighborhood" specialists, I say SELLER BEWARE!  Especially of the agent who lives in your neighborhood!  They can sure make negotiating with an interested buyer darn near impossible!  I have found myself in that situation as a buyer's agent at least twice in the last year and was not able to successfully negotiate a contract with the LISTING AGENT because she didn't want to believe the market data in HER NEIGHBORHOOD.

Feb 01, 2010 01:27 AM
Gregory Bain
Mezzina Real Estate & Insurance - Little Egg Harbor, NJ
For Homes on the Jersey Shore

arrogant. While many do in fact mis-use the title "area" specialist it would be very foolish of you to pretend you can serve the client as well as I in my neck of the woods. As a matter of fact, I think in NJ you may find yourself and your broker of record in court when you fail to disclose that the neighborhood has many peculiar elements that would cause your client great financial harm if the right questions were not asked or addressed in your contract.

An area specialist should know and attend the the local planning board meetings and be very aware of changes coming down the pike. But, go ahead. Make fun of us little hicks aka pineys. It is and always will be a buyer beware market. You don't know what to ask and what to look out for - I feel sorry for all of your customers that relie on your area expertise from your cruise ship stateroom.

Feb 01, 2010 11:01 AM
Jirius Isaac
Isaac Real Estate &TriStar Mortgage - Kenmore, WA
Real Estate & loans in Kenmore, WA

This is all so true that I had to reblog it.  It is amazing to me that some people think you still have to work in a 3 mile radius to know the neighborhood.

Feb 04, 2010 03:45 PM
Gary Swanson
Century 21 Harris & Taylor - Grants Pass, OR

Great blog Greg.  I agree with what you're saying.  I just sold a house to a buyer in a city that I don't live in about 30 miles from where I live.  Between the Internet, MLS and GPS it was no different than selling a home in my "neighboorhood."

Feb 04, 2010 04:25 PM
Matt Robinson
Professional Investors Guild - Pensacola, FL
www.professionalinvestorsguild.com

Good post!  It certainly sparked some great debate between the Rainers.  I would have to say that there is a convincing argument on both sides.  I do still think that an agent can gain superior knowledge about an area, its amenities, sales prices, etc which makes him or her more effective if listing a home in that area.  However, with the massive amount of information out there, the internet savvy agent can many times do just as well as the local "expert".

Feb 07, 2010 10:46 AM
Martin E. Kalisker, Esq.
Natick, MA
Real Estate Law From A Practical Perspective

I so agree with you!  I was at a listiing apointment not too long ago and the owner said that she was really comfortable with me, but didn't think that she could list the home because my office was in another town 4 miles away.  I tried to reason with her - that my job as the listing agent was to market and promote the listing to as many people and "channels" as possible, that our national website was one of the top five in the nation, getting more viewers than Brand X in town (in fact we advertise brand X's listings better on weichert.com than they do on their own national website!), etc.  I also explained that a good buyers agent would show properties to their clients in mulitple towns, so it was really incumbent upon the buyer's agent to be the "neighborhood expert."

Didn't fly.

She listed the home with a local broker and it was not only $80,000 over my suggested list price, but it sat on the market for over 180 days.  When it expired, I approached the seller again, and she said  "no".

So she listed it with another local broker and lo and behold - about 3 weeks later it went under agreement (and ultimately sold for $15,000 less than my estimated list price 7 months prior).  When I found out that the buyer's agent was actually a former colleague of mine - and she would have been on my listing distribution list of realtors to market my listings to - and I mentioned this to the seller - she hung up on me.  Not that I was trying to rub it in her face, but it sure felt good to be right!!!

Apr 13, 2010 03:34 AM
Martin E. Kalisker, Esq.
Natick, MA
Real Estate Law From A Practical Perspective

I so agree with you!  I was at a listiing apointment not too long ago and the owner said that she was really comfortable with me, but didn't think that she could list the home because my office was in another town 4 miles away.  I tried to reason with her - that my job as the listing agent was to market and promote the listing to as many people and "channels" as possible, that our national website was one of the top five in the nation, getting more viewers than Brand X in town (in fact we advertise brand X's listings better on weichert.com than they do on their own national website!), etc.  I also explained that a good buyers agent would show properties to their clients in mulitple towns, so it was really incumbent upon the buyer's agent to be the "neighborhood expert."

Didn't fly.

She listed the home with a local broker and it was not only $80,000 over my suggested list price, but it sat on the market for over 180 days.  When it expired, I approached the seller again, and she said  "no".

So she listed it with another local broker and lo and behold - about 3 weeks later it went under agreement (and ultimately sold for $15,000 less than my estimated list price 7 months prior).  When I found out that the buyer's agent was actually a former colleague of mine - and she would have been on my listing distribution list of realtors to market my listings to - and I mentioned this to the seller - she hung up on me.  Not that I was trying to rub it in her face, but it sure felt good to be right!!!

Apr 13, 2010 03:34 AM
Bo Bromhal
BHHS York Simpson Underwood - Raleigh, NC
Triangle Native, 2 decades of experience

if you think that you can do as good of a job representing either side using only Internet data, but have never been in either the home in question or the homes you claim as "comparable", then truly the way that people buy and sell homes has passed many of us by.  Of course, some of us would call that mindset the "bubble" of the past 5 years.

In a largely homogenous neighborhood of tract homes with similarities and excellent pictures and descriptions on each - as well as all homes being listed through the MLS? Sure.  "Oh, Buyer that's a Xanthos model with level 2 appliances, granite on all countertops, and fully-fenced yard on an interior cul-de-sac lot between 0.23 and 0.26 acres. The price should be between $X and $X + 2%."

Otherwise, you're doing nothing but selling some degree of misrepresentation to claim you know it all.

Apr 18, 2010 02:11 PM