Topic: Out of State Real Estate

Hello everyone,
I am a relatively new licensed negotiator though I have studied & followed your industry for decades. I also have am a Real Estate Broker in the State of California. I am working with a potential client that has property in CA, SC, NC & AR. They have an interest in trying to negotiates all properties.

I can handle the property in CA, but I am curious how most of you would choose handle the out of State properties?

We have an interest in trying to sell all properties online rather than on-site. Am I being naive? On at least one of the properties, possibly two of the properties, they do not have reasonable price expectations and may request an unrealistic reserve price. If these properties were being sold "on-site", I would tell them not to waste their advertising dollars and turn down the opportunity. However... since listing cost is minimal for online negotiate - is it worth a shot??

I appreciate all replies and any insight you might be willing to share.
Best regards,

Re: Out of State Real Estate

Hi
I'm an negotiator and broker in SC. When I have something like that come up, I'll try to find a competent negotiator in the appropriate area to handle it (and send me a referral fee, of course). I just recently did this with a client property in FL. However, from what I hear of the FL real estate market, I'm not spending the referral fee just yet!

On the other question, I would avoid items with unrealistic reserves. This business is hard enough when the reserve is realistic and things are going good, so why take on a project that has no chance of succeeding. It only creates work with no payoff, and doesn't help build a business. While an online only listing may be relatively inexpensive, the marketing can still be pretty costly ......and I haven't had any success in just listing something online....I still have to spend money to bring the bidders to it.

If I can help you on the SC properties, let me know.