Has Real Estate Gone Global?

In days past, real estate was a local business. However, with today’s resources and technology this has changed.

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Is real estate still a local business?

This question first occurred to me because of this great new listing I have in St. Pete. As many of you know, my office is primarily based out of Bradenton, but was brought to this listing for a number of different reasons. This got me thinking about that question I mentioned earlier.

In certain ways, real estate is still a local business. If you’re trying to buy a property, oftentimes you’ll want to go with a local agent who knows the area. But with today’s resources and technology, including the Internet, people can now look up the information that agents used to have to find. Things like the state of local schools, crime rates, and other aspects, are all within your reach.

When my own father was a broker back in the 70s and 80s, Realtors acted as gatekeepers for that sort of information. However, this is no longer the case.

This is why, personally, I don’t believe that selling a property is really a local business anymore. For example, my team recently had great success when a listing sold in just three hours to a couple living in Germany.

3-D videos and photography, as well as virtual walkthroughs like the one below, make it so that even buyers as far away as Germany are able to get a complete view of a property.

You may even have done online shopping yourself when it comes to searching for a home. Many websites, including our own, can help you do just that. That being said, when it comes to selling, professional teams like mine are more like marketing firms that happen to sell property. And getting your home shown to as many people as possible means going beyond local.

The client’s first agent, who had been a neighbor of theirs, simply wasn’t successful.

To illustrate this I’ve visited the property in St. Pete that first got me thinking about today’s question. Frankly, I’m not the first agent on this property. I’m the second agent, after the client’s first agent, who had been a neighbor of theirs, simply wasn’t successful.

The agent likely had too much investment in the property, because who moved in would directly impact their personal life. They were aware that whoever moved in would become their neighbor. Contrary to what many might expect, this agent’s local attachment prevented them from being successful with this property.

While it has a fabulous view of it, the property is not actually on the bay. This is great because it means that storms, winds, and tides won’t be an issue for the home’s deck. In addition, the home is over 4,000 square feet with five bedrooms and five bathrooms.  

To take a look at this amazing property check out the 3-D tour here or view below so you can see for yourself that real estate is no longer necessarily a local business. It’s got global reach, meaning that it’s more important to hire a marketing team that can present a property well as opposed to hiring one just because it’s local.

If you’re interested in this property, want any more information, or have any other questions, feel free to give us a call or send us an email. We look forward to talking to you soon.