Do You Need To Be In The Local Area To List A Property?

By
Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

florida short saleI have been a Real Estate Broker in Poinciana Florida for 18 years. For the first 14 of those I would rarely leave my community for a listing. Then the market crashed. The average home sale went from $225,000 down to $64,000! Do you have any idea how many $64,000 properties you have to sell to run a brokerage? A lot.

So in order to increase my income I needed to:

  1. 1.   Charge a higher commission.
  2. 2.   Charge transaction fees.
  3. 3.   Sell more units.
  4. 4.   Increase average sales price.  

My business is primarily listing Florida Short Sales and selling Florida investment properties.

Neither of these require me to be in the area of the property. Investors just care about the numbers and....

With Florida Short Sales folks are hiring me because of my expertise with handling the Short Sale negotiations. They don't care that I'm not in the area. I have actually listed properties as far away as Key Largo. Usually I partner with an agent in the area but not always.

When properties are that far away the Sellers take care of the pictures and lock box themselves. Buyers are handed over to local agents with no referral fee. I handle all of the negotiations and paperwork. It's really no big deal not being in the area.

Now I would NOT do this with a normal equity seller. But Florida Short Sales are a different animal all together and require a different skill set. Being near the property is not one of them.

Most MLSs have reciprocity and will let me enter a listing for a fee. If not I can partner with another Broker or I can use a flat fee listing service.

The problems that most agents have with out of area agents are really not related to where the agents are located. It's communication and property access issues. If these issues don't exist then what difference does it make where the listing agent is located?

I would venture to say that agents dealing with me from hundreds of miles away have a much better experience than dealing with some agents in their area.

I do business all over the World. The Internet has made this possible. I won't be boxed in. What say you?

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***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

 

 Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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Rainmaker
1,977,152
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

The limits are gone. The boundaries are only in our heads. The buyer is not local, have the inventory to meet the demand. To win more trips to the real estate closing table. Started in 1979 and best time to get into real estate is when the market is the toughest. 16.5% adjustable rate mortgages were an eye opener. And why whining today does not get a lot of sympathy. Good post on where you need to be..to list the property.

Apr 19, 2013 09:37 PM #1
Rainmaker
4,798,170
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Bryant, as long as you know how to handle the local MLS systems you are doing fine.  I came across a short sale for Pasadena, CA in my MLS the other day.  I don't think that will cut it.

Apr 19, 2013 10:28 PM #2
Rainmaker
1,774,680
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

It sounds like you have worked out a way to get those multiple sales from outside your local area Bryant. 

I hope you have continued success.

Apr 19, 2013 10:59 PM #3
Rainmaker
1,340,177
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Bryant - I can say first hand working with you is a fantasic experience, I NEVER have to wonder what is going on.

Apr 20, 2013 04:14 AM #4
Rainmaker
189,486
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

BB,

Nice to see you writing again. Good topic and true to the point. Communication is the key I absolutely hate it when you cant get a hold of the other agent.

Apr 24, 2013 02:25 PM #5
Rainmaker
4,432,589
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Bryant, Sellers should hire an agent who has the skills necessary for short sales and location is not important . I have realized that communication is important and I love your assurance to sellers  that you return calls with the hour. 

Apr 24, 2013 09:31 PM #6
Rainmaker
1,534,177
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

I think it is all about proving the required level of service - period. Just closed a listing of mine with buyer agent from Orlando. Closing a listing next week with the list agent in Orlando. Both had fewer issues than with a local agent! All about service.

Apr 27, 2013 04:00 AM #7
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Rainmaker
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Bryant Tutas

Selling Florida one home at a time
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