Always, Always Use A Local Market Source

Jeff Rinkov is the CEO of Lee & Associates.

LOS ANGELES—More and more often, investors are looking for yield outside of their local market. Whether buying properties within a day’s drive or across the country, consulting a local market expert may be the difference getting a great deal and getting a dud, according to Lee & Associates CEO Jeff Rinkov and Lee & Associates Central Coast president Clarice Clarke and principal Steve Leider. They say that finding a neutral broker with expert knowledge of the local market is essential to taking advantage of the right opportunity at the right price.

“You have to talk to a local market professional, and make sure that you have their advice and have their attention,” Rinkov tells GlobeSt.com. “You also have to make sure that they are agnostic or independent. If they are working as your advocate, than that is fine, but if you are taking the word of another broker from another market, you are not going to get the same advice. You need to find a broker that has done transactions in that city and in the better submarkets on the market.”