I’m a residential realtor and expert witness appraiser. I’d like to dispel a real estate myth today. Many people believe I need to “know the neighborhood” to sell or appraise a home in that neighborhood. Some people do, but a whole lot of us don’t. If we haven’t sold in your neighborhood, well, so what? Pricing/Selling real estate is a technical skill having to do with what you know, not where you last applied it (imagine asking your mechanic if he’s ever tuned up a car from your neighborhood before). Even in a unique neighborhood the natural laws of real estate sales, financing, and appraisal don’t change. Assuming I have access to the real MLS data, I appraise a home the same way whether I’ve been on the street a thousand times or just this once. The location adjustments become obvious once you know what you are looking for.
Residential real estate in Hillsborough, Pinellas, and Pasco counties, Florida
While people are often comforted by specialized experience, a key to success is knowing how to do something. Once you have the how – education, skills, and experience – it can be applied anywhere.