I’ve only been doing real estate for 17 years in northern Colorado, having come to it as my second career but I know most of my colleagues, despite younger folks coming on board. I eventually meet them, too.
But I don’t know the Listing Agents who are popping up on our northern Colorado MLS with Denver as their agency address. Competition for listings is fierce with so few of them coming on the market right now. I get it. But are we doing our clients a disservice by listing properties where we don’t know the market? Or the agents involved?
Relationships in the real estate community are a crucial part of any transaction. When we like and trust the person on the other side of the transaction, it tends to go smoother, with an air of cooperation and camaraderie while still acknowledging the other agent’s duty to their client. Those relationships are what we keep me in this business. Frankly, it also helps when I’m submitting offers for a buyer if the Listing Agent feels comfortable with me. (The offer needs to be awesome, too.)
In most cases, an out-of-town agent doesn’t know our market as well. Sure, anyone can look at past sales and come up with something but we know that certain streets and blocks have intangibles that get a higher—or lower—price. Having cruised the streets of northern Colorado for years, there’s an instinctual feeling about an area that we bring into the equation when considering what price the home needs to be or what updates or changes or staging needs to happen. I’ve noticed that a number of homes listed by Denver agents have had price reductions in our area, either a sign that they just don’t get it or maybe, that the market is slowing down.
Are we becoming just one large community with few differences between Northern Colorado and the Denver Metro area? Do all agents need to know the neighborhoods of Denver, the vagaries of the Greeley market, the new homes in Loveland, the up and coming streets of Milliken, Dacono, and Erie, the enclaves in Boulder?
I don’t think so. At least not yet, anyway.
If out-of-town agents must list a property in other towns, I recommend that they get to know a couple of local agents and ask a few questions. Start a relationship that can benefit each other. Ultimately, how we treat each other reflects how we treat our clients.