How to go about contacting agents out of state?

Question

To contact or not to contact? Is it good edict to contact an agent out of state when your just looking around? From SoCal Looking in the Memphis area and want to know more about local area. Not pre- approved and possibly 10 months from being able to purchase. Any thoughts?

Stephen Barton · Answer

Hi there @Nathan Stanley! Think nothing of it. Of course you should reach out. You NEED to do this. If an agent does not want to "deal" with you just yet then find one that does. This is so important because I need my clients to understand the area they are jumping into. You cannot learn areas overnight. It takes time to learn a decent-sized city like mine (Indianapolis IN). You need to really get a grasp on the area and why people like certain areas and why they avoid others. YOU need to learn this. Of course, an agent knows this but I am trying to get my clients to actually invest- not just have me pick deals for them. I want my clients to know the second they see a deal to recognize it is in fact a deal. The competition already does and that is why the best deals are sold on Day 1 of listings going live here. Multiple offers on everything. You have to really know what you are doing here. You don't just want to trust an agent to do it all for you. Agents cannot see every single deal all of the time. We are just not humanly capable -no one is. But the point is you need to start building a team now for when you are ready to start pulling the trigger. Then, you can pull that trigger with confidence!

Bruce Lynn · Answer

@Nathan Stanley    I think you might contact one or two and spend some time talking to them about what you want to do and your timeline.  You can have them put you on a search today so you get some samples of what properties look like, what they cost, where they recommend, etc.   I would suggest you also speak with their lender now.   You probably don't need a preapproval now, but the lender can give you an idea now of what down payment you need, what closing costs you need to save and what credit score you need to hit to get an interest rate break.  That gives you 10 months or whatever to work on all those goals, vs waiting to close to accomplish goals that may save you a lot of money.

Nathan Stanley · Answer

Thank you all for your input! This helps me understand the mindset coming from the other end, thank you.

James Hamling · Answer

I think it would be a waste of your time not to mention the agent. 10 months is a long time in this insane world we are in now, literally anything and everything can change making anything you see or find now all but worthless 10+ months from now.

Focus on Macro education and research for now, when action time gets closer start narrowing that focus until action time and it's a laser pin-point focus.

Mike Cumbie · Answer

I agree, I have agents looking all over 3 states. I make sure they don't overlap and if I find anything I like in their area I reach out to them and them only. I also have several clients looking from out of state that are on an auto drip and if I see something off market that matches them I reach out. If they buy out of my area, all is good. Now if I find out that another agent in the office or a competitor in my market also had them.... I wouldn't bother offering them anything off market or waste my time with them anymore.

But shopping is fine, just don't sidestep me in my market after we have a relationship (In my opinion of course)