realtor tips

Realtor Tips from Florida Experts

IT’S NO SURPRISE THAT THE REAL ESTATE

market in Florida is the busiest it’s ever been. With people flocking to the state for a variety of reasons, and as fewer people leave, inventory is down and homes are being sold at a premium. Many are sold sight unseen as buyers scramble to find any home that’s available. This market can seem like a daunting one for both buyers and sellers. For buyers, securing a home is a bit of an emotional roller coaster. For sellers, the rapid booking of showings and offers can be stressful. But there are ways to be prepared and educated as you tackle the real estate process in Florida. We have compiled a list of tips from some of the best Realtors in the sunshine state. Take a look at their advice and then for more local insight, contact the Realtor who sent you this magazine. They are available to help you as you look for a home or put your current residence on the market. “The market is interesting because it is a great time to buy and/or sell. The market is unique in that interest rates are still at historic lows, buyers are more qualified for mortgages than ever, and the state of Florida is in high demand. Especially around the coastal and touristy areas, the market is competitive. It’s critical to work with a broker that has a great team to help navigate the showings, offers, financing and has the patience to ensure you get the home that best matches your needs with the best terms possible.” —LINA C.

“Get a professional appraisal before listing and price your home at the appraisal price. This will attract the largest buyer pool in the market which will get you the best offer. I also suggest paying for a high quality video. According to the National Association of Realtors, homes listed with video get four times the inquiries than homes listed without video, especially in a market with so many out of town buyers. Ask your Realtor to put the listing video online. You can get an additional 15,000-20,000 views on social media. I always list homes on Thursday and don’t allow any buyers into the home until the first open house. I instruct the buyers’ agents that no offers will be reviewed until after the open house. Once you begin accepting offers, start narrowing down to the strongest buyers. Let them bid and drive up the offer. Remember: a great offer is not just the price, but the terms!” —JOHN G.

“For buyers: I am helping my buyers feel comfortable making offers on properties sight unseen by using Facetime or adding visual contingency addendums to the contract. This allows my buyers to secure a property and gives them time to hop on a plane without having to worry about losing the property For sellers: I like to inform my sellers that they can protect themselves with a seller contingency which will allow them time to find a new home if their home sells, and if they cannot find a new home within a certain time period then they can cancel the contract.” —RYAN S.

“As a buyer, be prepared to make an offer quickly which means if you are obtaining financing, you must have your pre-approval letter and if you are making a cash offer, be sure to have proof of funds to your agent in advance. Think outside the box. While buyers like to have homes renovated or almost new, keep an open mind about the physical location of the home, the views, amenities, and the community lifestyle as well. Homes can always be renovated but finding the perfect location can be difficult.

For sellers, it’s wise to look at all the components of an offer and not just price. Be mindful that other terms like contingencies, financing amount, and type of contract the offer is written on are also very important things to consider when accepting an offer. While it certainly is a seller’s market and there is high demand, be sure your home is clean, smells fresh, and is organized to get the highest value for your home!” —JENNIFER S. “In the current market with so many buyers, so few listings, and quality properties in multiple offer situations, when you find a property you are really interested in, you need to put your best foot forward and make your best offer first. Don’t worry about what another buyer is going to offer. There is no way to know that information. All you can do is identify what you are willing to pay for the property and lead with that offer. The last thing you want to do is lose out on a property you really want for a couple of thousand dollars because you ‘would have gone higher’ if they countered. In this market, we do not have the luxury of negotiating on most properties. So always lead with your best offer.” —CORYE R.

“My advice to sellers in this fast-paced market: hire an agent who understands marketing. The right agent will bring all the tools you need to help you stand out in a competitive market plus gain top dollar for your property. This should include professional photography, staging, a strong online presence, and engaging marketing materials. Ask to see what kind of marketing they’ve done for other sellers and what their plan for your home would be before you list with a Realtor.” —JUDY W.

“As a seller you need to know where you’re going to live next or have contingencies in the contract which protect you from having to find a short term living arrangement. Homes sell so fast that you could find

yourself in a situation where you have nowhere to go. Make sure you work with a Realtor who understands that aspect of the selling process. As a buyer, please be prepared to make an offer quickly. If you see a property you love, you can absolutely bet someone else loves it too and it will be gone quickly. Because inventory is so low in this seller’s market, the opportunity to negotiate terms, furniture or anything else can be difficult, so be prepared to make some concessions going into the buying process. Don’t sacrifice the good for the perfect.” —NITA R.

“Buyers: Because of the current market conditions, it’s imperative that you make sure you have a pre-approval letter from your mortgage company before putting in an offer on a home. Additionally, because homes are selling so quickly, put in your highest and best offer as soon as possible. You should also consider offering incentives when presenting an offer, such as a no contingency clause, or a quick closing date to help mitigate losing out to an all-cash buyer.

Sellers: One of the most important things a seller can do in order to get the best price for their home, is for them to thoroughly clean and declutter, especially kitchens, showers, and bathtubs. If they don’t, they are leaving money on the table. Addressing small items like broken door handles or leaky faucets is also a huge help. Buyers want a well-cared for home with no larger issues hiding around the corner. Of course, a fresh coat of paint not only makes the home look great, but can help eliminate bad odors as well.” —LOIS R.

“As a listing agent, I work with many sellers. As the market settles down a bit after the recent buying frenzy, I am telling sellers not to get greedy. Buyers are being turned off by overpriced properties and deciding to let things cool down before buying an overpriced home. The National Association of Realtors is predicting the market to slow in the fourth quarter and into 2022. Sellers should not overprice their property, but instead, list it reasonably, letting the buyers push it higher with multiple offers. That’s a much better position to be in, rather than having buyers skip over your property.” —KIMBERLY W.

“Sellers: De-personalize your home to give buyers a chance to see themselves in the space. Pay for a pre-listing home inspection and make needed repairs so there isn’t anything unexpected that might slow down the closing process. It can be difficult, but accommodate shortnotice showings. You don’t want to give interested buyers a reason to look somewhere else. Also, make sure you have gathered important documents like your home insurance, land survey, and title for your listing agent to help speed things along. And finally don’t ignore your first offer. It’s usually the best, for a newly listed home.

Buyers: Get a survey. This will give you peace of mind and no one wants to get in a land dispute with their new neighbor. Set realistic expectations. No home has all the amenities you want, so focus on the top three you need a home to have to be happy there. Once you know what you want, be prepared to move quickly. Sellers don’t need to wait on you in this market so you don’t have the luxury of “sleeping on it” when you do find the right property. And finally, be patient. It can be easy to be caught up in this market, but waiting will keep you making a mistake. Just like dating, if you know what you want and are ready when the right one comes along, you will be much happier in the long run!” —CHRIS W.

“I am a strong believer in staging the property. Regardless of the market condition, staging helps not only increase the value but also helps to sell faster. The purpose is to show buyers the home’s true potential and to create the feeling of wanting to live there. Sellers often believe that staging the property is extremely expensive, which is not always the case depending on what company they work with. Sometimes staging may involve just a few accessories, rugs, wall art, and re-arrangement of the current furniture. The investment is far less than carrying costs on the property.” —JOLANTA J.

“I pride myself on keeping my buyers focused on finding the property that best fits their needs. Does the home’s location, price, fees, size, and style meet their criteria? Buyers can be easily thrown off track and distracted by continually surfing the internet. An agent should show only the communities and properties that match their clients’ preferences. Showing a buyer every home that looks appealing from photos is not productive! An experienced local agent will help buyers tailor their search, and buyers who trust their agent’s knowledge will have a less stressful and more fun house-hunting experience!” —LAURIE B.