Importance of Selecting a Local Expert in Real Estate Transactions

The selection of a real estate agent that is a local expert is a necessity to ensure effective representation during your property transaction. But what is a local expert?A local expert is not an agent who is licensed to do business in a given area. Most states license their real estate agents to do business anywhere in the state. Therefore, concluding that a real estate agent is a local expert based on the existence of a license in the state in which the property is located is a mistake.A local expert is a real estate agent who is personally familiar with the area. Such an agent is cognizant of buying and selling trends and local customs surrounding closing costs and property transfer taxes. These can vary from jurisdiction to jurisdiction.A local expert knows the neighborhoods, the schools and may even live in the area him or her self. The agent should have references in the area which he or she should be willing to provide you. These references should come from individuals on both sides of a transaction.One way to ascertain whether or not a real estate agent is a local expert is to drive through the neighborhoods you are considering and look for yard signs. If you see an agent's name on a number of signs in the area, it is a good bet that he or she is a local expert. An agent with an office in the area is also likely an expert in the local neighborhoods.Selecting a real estate agent who is a local expert is crucial. It can avoid errors in the transaction process, save you money through familiarity with local customs involving real estate transactions, and will help to ensure that the home, neighborhood and schools in which you buy are right for you. Failure to select a local expert can create problems, increased stress, closing difficulties, added expense, and frustration.About the Author:Catherine Nguyen was born and raised in Dallas, Texas and is a licensed real estate agent. Ms. Nguyen specializes in Dallas real estate and has a career with Renowned Realty Group – Dallas/Ft. Worth RE/MAX. For more information, please visit http://www.dallasrr.com

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