Are you curious to know why home buyers and sellers hire a Realtor® from outside of the area to represent them, and not leverage all advantages in their favour?  So am I.

If you’ve ever heard, read, or seen, a report on the Canadian real estate market, you’ll know that it is rarely reflective of what is happening locally in your neck of the woods.  All real estate is local and always has been, so the question remains; should your Realtor® also be local?

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Being familiar with the area in which a Realtor® lives, works, and intimately knows can really make a difference.  Every community has different customs, demographics, and personalities – so is it important to you, as a buyer looking into certain areas, to hire someone who knows all the little “nook & crannies” an area has?  Wouldn’t you want to hire someone who not only lives in the area, but connects, and involves themselves within the community?

Hiring a Realtor® who is “hyperlocal” can ultimately be the most important thing you do when you prepare to purchase a home.  Consider this – if you were looking to purchase a home in Port Moody, would you ever want to use a Realtor® from another area who has never been to the Tri-Cities, and knows nothing about the area, or the schools and businesses that surround it?  That is an extra cost to you in time and research than can be avoided if you use someone who knows the area you want to live.

If you were looking for a “Hyperlocal” Realtor® (for instance, specializing in Port Moody real estate), how would you find such representation?  The Internet is vast, and given that we can easily get lost and turned around while searching on the WWW; it’s important to recognize that narrowing down your search from the beginning can save you a lot of time and effort when finding someone local. A simple search for “PORT MOODY REALTOR” seems to make sense.

However – the world online isn’t always what it seems.  With savvy Realtors® and brokers utilizing SEO for better Google optimization, so many Realtors® have been able to position themselves in top ranking positions on a search specific page, claiming to be experts for large demographics. They are what I commonly refer to as “Everywhere Specialists.”  So be aware that there will be times your search results many not provide the market experience you need.

Realtors® have a legal obligation to uphold the integrity of their clients, while protecting and promoting their interests.  This means that you should expect a Realtor® to know your neighbourhood, provide the highest possible level of choice, and take care of all your specific real estate needs. If you’re looking to move to Coquitlam, would you want a Realtor® whose niche is in the area, rather than someone from, Whiterock, Mission or Squamish?

It all boils down to choice – your home buying experience will likely be based on the local competence of the Realtor® you choose, so it’s important to take the time to research, meet, and interview your prospective Realtor®.  Remember to always check references, and don’t’ get swayed by fancy presentations, or feel rushed to sign anything you don’t fully understand.  Buying a home can be a stressful endeavour, so be careful when making life-changing decisions without fully being informed, or being properly and locally represented.

 

Be Aware of the “Everywhere Specialist”

2 thoughts on “Be Aware of the “Everywhere Specialist”

  • September 10, 2013 at 1:20 pm
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    Great post John, I couldn’t agree more!

    The same could be said for many professions.

    It’s really up to the home buyer or client to do a little research on who they select for an advisor. Just because “Realtors® have a legal obligation to uphold the integrity of their clients, while protecting and promoting their interests” doesn’t mean that all Realtor adhere to this level of conduct.

    Maybe the potential buyer/seller should ask a few “hyperlocal” questions of the prospective Realtors they are selecting from:

    – Tell me about the local community (then be quiet and listen – does the Realtor have anything to say other than the canned info from the City or Chamber of Commerce website).

    – Tell me about a few major major annual events that the community rallies behind?

    – What is the City know for? – City of the Arts? what does that mean?

    Personal Interest questions:

    – Where’s the best place in the Tri Cities for Italian food? Greek Food? Hiking trails?

    – Amateur sports (if you have kids), Dance etc.

    Well done John. I’d be happy to recommend you to anyone looking to buy or sell in Port Moody & Tri Cities area!

    Doug Morneau

    Reply
    • September 13, 2013 at 5:28 am
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      Thanks for sharing your insights Doug; they’re always welcome. What you say sounds so logical Doug, but too often objectivity (what’s important to achieve goals) gets side-tracked. Btw and for the record, unlike so called “top producers”, I’ve never had a single listing expire in my years as a REALTOR®.

      Reply

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