So, you have a house to sell, and you don't know what to do, or who to get to help you. You've reached the first important step, you realize you need help! So, you're on your way to 12 steps of recovery!
I could write several pages on what is important, but I think 3 things are most important...and the rest should fall into place.
Availability -- You want a Realtor who is going to give you and potential buyers his cell phone, e-mail, pager number, finger prints (ok, overboard)... and will respond to inquiries quickly. When buyers are out trolling neighborhoods, if a Realtor doesn't call them back in less than 5 minutes, chances are, they've gone on to another house and don't know what you are talking about.
Experience -- While I am very thankful for those clients who trusted me 7 years ago with the sales of their homes, you want a Realtor that has been around the block and does real estate as their full time job. It amazes me how many people entrust the marketing of their homes to part-time, retired soccer grandmas. You want a Realtor who has only one thing on their mind...selling your house!
Marketability -- How buyers for your listing are reached has changed dramatically over the last 10 years. You want someone with a strong, online presence and understanding of internet marketing. Less than 10% of people in a recent survey sited print media as their primary means of finding a home. Contrarily, more than 75% of people said they used the internet in their search in some way.
Does it matter where the listing Realtor lives and works? Not as much as when you are a buyer. A buyer's Realtor has to be an expert on an entire area that his/her client is interested in. A listing Realtor only has to become an expert on your house, and your neighborhood/school to a lesser extent. Bottom line, if you have a good Realtor who lives a little ways away from you, be confident in listing with them...as long as the Realtor is willing to drop everything and show your house at a moments notice!
Hope this helps! Have a great day!