The Buying Process
Finding a Broker
Area Knowledge
The importance of area knowledge in a broker can be seen on many fronts. First off, how important is the area in which you buy real estate to you? The answer is extremely important. So a broker with limited knowledge of the area cannot begin to help you find the right property.
A brokers knowledge of the area shows preparation and respect for their clients. A certain level of experience goes hand in hand with knowledge of the area. The property type that you wish to have is one thing, but the area in which it is located can make all of the difference.
How close will I be to the grocery store or the bank? Does it flood here in the summer? Do I get cell phone coverage here? Is their night life? Crime? Schools? Hospitals?
Your broker should live and thrive in the area. They should be able to spit out the answers to all of these questions easily. Having a tour guide in a broker is an added value that one should demand in their real estate agent. There is no better way to get a sense of the real estate value than from a real estate expert who is also an expert in the area. There are so many little things that go into what types of places we like to live in and spend time in. This ocean front real estate is great, but is the water safe to swim in? I love that rainforest mountain home overlooking the ocean, but is it easily accessible?
Some times real estate can have an immediate wowing effect on us. If we do not get a good sense of what life will be like inside and outside the home, there is plenty of disappointment to be had down the road. Whether you want a retirement property, a winter/2nd home or a pure investment property, it is crucial that the lifestyle that the region affords will accommodate your expectations.
For those who are mostly in it for investment, does your broker understand what goes into property values and trends? Is their room for growth in the region? Is there a push for development? If your broker is not up on current events. It is time to look elsewhere.
