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Does Your Listing Agent Live Over 70 Miles Away From Your Home? Hmmm...No Wonder it Didn't Sell

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December 13, 2011 05:37 AM

Does Your Listing Agent Live Over 70 miles Away From Your Home? Hmmm...No Wonder it Didn't Sell

I found an expired listing today on the MLS that appears to be a beautiful home. I always try to look at these and figure out what went wrong. This one could very well be price. It is a higher priced home, which tends to take longer to sell in our current market in Colorado Springs.

Another thing I noticed was a phone number for the listing agent that is in an office 70 miles away in Denver. We see this from time to time where agents from Denver list homes here in Colorado Springs. I am sure it goes the other way as well.

I didn't look to see if this home was occupied or vacant, but if it was vacant, I am not sure that the agent over an hour away will be checking in on it regularly.

What if this agent gets a sign call from some out of town buyers driving buy (unrepresented) and they want to take a look at this home. Is that agent going to hop in the car and drive an hour plus to show it? Maybe, but I doubt it.

Does an agent from an hour, to an hour and a half away know our market here the best? Better than a local agent? I doubt it. If this is a family friend or relative, why not refer the property to a local agent who can give the best service to this seller?

What would be the seller's incentive to hire an agent that lives that far away? $$$$? Are they a family member or friend that has reduced the commission? Well, if they are working for less, I am pretty sure they are not going to go above and beyond on a property that would take an hour to get to on a good day without traffic. Maybe I am wrong. Any thoughts? Do you take listings that far out of your market area?

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Mike Frazier

Carousel Realty of Dyer County - Dyersburg, TN

Northwest Tennessee Realtor

Kristi, here in our area government foreclosures are given to agents who live way off. I haven't figured out yet the logic to this.

Dec 16, 2011 02:50 AM

Karen Salmon

Royal LePage Benchmark - Okotoks, AB

Okotoks Real Estate Agent

It's so much easier to service a listing properly when you live close. If it's too far away, I refer it.

Dec 16, 2011 02:54 AM

Bill Gillhespy

16 Sunview Blvd - Fort Myers Beach, FL

Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Kristi, My bet would be that factors other than distance to the listing agent had more to do with this property not selling. Probably a price issue.

Dec 16, 2011 02:55 AM

Tom Bailey

Margaret Rudd & Associates Inc. - Oak Island, NC

One thing that I think has been overlooked in this discussion is the agents other sellers. The time involved in working with a listing that far away is bound to cut into your ability to service your other clients.

Dec 16, 2011 03:02 AM

J. Philip Faranda

Howard Hanna Rand Realty - Yorktown Heights, NY

Associate Broker / Office Manager

Kristi I have to compliment you on how you have been graceful toward differing opinions. Hats off to you.

Dec 16, 2011 03:21 AM

Sibley Poland

RE/MAX Stars Realty - Mount Vernon, OH

15 Years of Professional Experience

Are you Blue-In-The-Face yet??!! Enough cannot be said about hiring a full-time agent who not only lives in your community but is also an experienced expert!

Dec 16, 2011 04:41 AM

Kristi DeFazio

RE/MAX Advantage - Colorado Springs, CO

Colorado Springs Rea lEstate 719-459-5468

J. Philip- Thanks! I try! I knew not everyone would agree when I wrote it, but it is good to hear how some people make it work. It is a good conversation. Thanks!

Dec 16, 2011 04:58 AM

Steven Zimmerman

Belloise Realty Tropical - New Port Richey, FL

Husband & Father, @Gulf_Harbors Resident Realtor

Kristi,

Good afternoon. While you have presented an interesting point, you have clearly drawn those out with point - counter point.

Some thoughts-

In an Internet world, with access to all types of statistical data, the ever expanding Realtor Boards and MLS Systems, is there a real reason an Agent could not List a property anywhere they are Actively Licensed ?

You yourself have a link on t=your web site to "search the entire MLS yourself" - should you be contacted by a qualified buyer regarding purchasing a property 50, 70, 100 or even more miles away do / would you refer them away ?

My thoughts-

70 miles ... I'd still be single if my Wife lived that far away when we first met [and we've been together over 27 years]

70 miles ... the last time I drove that far for Anything was to Disney - 90 miles away.

Yes, I do have a very select, well educated and qualified buyers that when called upon I will stray from my home / market area.

Perhaps its just me, but I'm fine just where I am ...and as you have so thoughtfully included a map for your point [that, don't get me wrong, I'm not disagreeing with you on], I thought I would include an aerial so could could appreciate why I'm good right where I am.

Have a good day, and a great weekend,

Steven -

Living in, marketing & selling Florida's Waterfront Lifestyle in Gulf Harbors on the Gulf of Mexico

Dec 16, 2011 05:12 AM

Tammy Lankford,

Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA

Broker GA Lake Sinclair/Eatonton/Milledgeville

I have sold listings an hour away on several occassions. Once took one 3 hours away, put a sign and a combo lock box and send fliers to all local agents. It sold in about two weeks. It all depends on how you market, not the location.

Dec 16, 2011 05:33 AM

Evelyn Kennedy

Alain Pinel Realtors - Alameda, CA

Alameda, Real Estate, Alameda, CA

Kristi:

I think that an is at a disadvantage listing a home that is over an hour away. Especially in Colorado where you do have snow to deal with. The fact that the agent was 1 hour away may have been the reason that the listing expired. I hope you go after the listing and you get it.

Dec 16, 2011 06:19 AM

Pam Graham

All Real Estate Options - Jacksonville, FL

Jacksonville, Clay & St Johns Counties

I didn't read all the comments but maybe the agent lives closer than that to the property but has a Denver area code? 70 miles does seem far but if you know the area and have buyer's agents, then there's no harm.

Dec 16, 2011 07:27 AM

Andrew Mooers | 207.532.6573

MOOERS REALTY - Houlton, ME

Northern Maine Real Estate-Aroostook County Broker

You may be thinking houses, homes only and that your market is only local for your listings. You are licensed for the state. Not everything is a magic market circle and don't do over this line. Better marketing with real video, blogging posts with high powerered SEO, and qualifying to not make a zillion trips. The more expensive listings, large acreages, not the ranch style 5-3-1 shoe box on a small lot are easy to list, market, sell and swoop in for the very large commission checks. Had two places on Penobscot Bay, homes that were ocean front. It was fun to market them, shot the video on the way to the state REALTOR annual meeting just down the road. Sold to a New Jersey buyer. Our opening shot map shows the territory we cover to have more listings. Do lots of 400, 500 acre and larger listings the same way and you have to seek them out if they are not in your zip code. Part of the niche market.

Dec 16, 2011 09:26 AM

Joni Bailey

101 Main St. Realty - Huntsville, TX

Your Huntsville / Lake Livingston Area REALTOR®

At the lake, when the Houston agents list property, they send their buyers to agents here to show it. But seriously, they have no idea where the best place to ski is, or where the honey hole is... etc. They almost have to send the buyers to us. BUT... we have no problem SELLING their listings so the properties do sell if they are priced right.

If I were a seller, I would chose a local realtor. If I had a realtor, but my property was in another market, I would ask that realtor if they could help me find a local agent. Chances are... they know someone OR know someone WHO KNOWS someone! :)))

Dec 16, 2011 03:24 PM

Anthony Daniels

Coldwell Banker - San Francisco, CA

SF Bay Area REO Specialist

Shame on the agent and the client.

Both should know better.

Good post, thanks for sharing it.

Dec 16, 2011 04:01 PM

Kristi DeFazio

RE/MAX Advantage - Colorado Springs, CO

Colorado Springs Rea lEstate 719-459-5468

Steven- Good points. Yes, we are licensed in the entire state, but we do have a different MLS Board for Denver. Our MLS only covers C.S. and all of the surrounding areas.

Thanks everyone for stopping by- I will try to respond more later...busy day! :)

Dec 17, 2011 03:24 AM

Robert L. Brown

www.mrbrownsellsgr.com - Grand Rapids, MI

Grand Rapids Real Estate Bellabay Realty, West Mic

If you can give that listing the care and diligence it deserves then go for it.

Dec 17, 2011 04:38 AM

Regina P. Brown

MBA Broker Consultants - Carlsbad, CA

M.B.A., Broker, Instructor

Kristi, I recently saw a seller's house foreclosed upon, the listing agent recommended by the short sale bank was out of the area and didn't even bother to place the house in the local MLS. Therefore, no bonafide offers... and a foreclosure! :(

Dec 17, 2011 05:09 AM

Dick Greenberg

New Paradigm Partners LLC - Fort Collins, CO

Northern Colorado Residential Real Estate

HiKristi - It is my understanding that the real estate commission is coming out with a statement regarding areas of competence that in addition to adressing short sales, where it is highly needed, will also be relevant to geographical competence as well. We have a significant number of Denver agents listing up here - as well as at least two from Colorado Springs - and I know several of our local agents are listing in Denver.

Dec 17, 2011 06:27 AM

Tamara Inzunza

Realty One Group Capital - Alexandria, VA

Close-In Alexandria and Arlington Living

Kristi, it sounds like you may have jumped the gun a bit in passing judgment on the agent because of their location. In our business we can definitely provide fantastic service while not being as local as you would like. My area of Northern Virignia covers a lot of territory, and lump in 'DC metro' and you've got two more states (Maryland and DC). We have great agents in my company that can sell a DC coop and drive to Leesburg and sell a farm. Two different types of properties but because of experience can do a great job with both types.

Dec 17, 2011 06:40 AM

Kristi DeFazio

RE/MAX Advantage - Colorado Springs, CO

Colorado Springs Rea lEstate 719-459-5468

Robert- I totally agree!

Dick- I didnt' know that about the statement regarding areas of competence. Would you drive 2 hours down here to list a property (or longer in traffic???) I am not going to say "never" for me, but it would be difficult.

Tamara- It sounds like YOU jumped the gun on your comment. Read my comment # 54- I just wanted perspective of how people make it work. Our areas even have different MLS boards but if an agent is willing to "go the extra mile" literally- they can make it work. Often, out of area agents do not, but then again, there are local agents that do not as well. I even admitted it was probably price in this issue but wondered if the out of area agent had anything to do with it. I respect everyone's different viewpoints and like hearing how people make it work from so far away.

Dec 17, 2011 07:03 AM

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