The pandemic has caused a mass migration of people across the country. Florida is one of the top states that people are moving to, and this is excellent news for property owners in the Sunshine State. The high demand for properties and historically low inventory has caused home prices to rise. If you’re looking to sell your property in Florida, now is the time to do it!
What can you expect when selling your property on a seller’s market?
There is high demand for properties in today’s market. This means that it will likely sell relatively quickly if your home is listed. The key to success in this type of market is to make sure your property is priced correctly and is in excellent condition. In its 2021 research report, the national association of realtors mentions that buyers are looking for move-in-ready homes.
Expect multiple offers; central Florida has less than a month of inventory, which means about 20 buyers for every home. This means that you, as the seller, can get a more favorable deal. If you are looking to right-size, you must strategize your move plan before listing your property. I recommend consulting with a local realtor, someone with experience in this market.
Homebuyers are purchasing homes virtually! Many homebuyers are buying homes without ever seeing the home in person. It sounds like a made-up story, but this is the reality we live in now. Technology has allowed buyers to do virtual walk-throughs and e-closings. As a listing agent, we provide 3D Videos, walk-through videos, lots of photos, and more to ensure buyers can decide without seeing the home. I also partner up with title companies that facilitate e-closings.
You want to be familiar with local housing market trends like:
- Escalation clauses
- $0 seller credits
- Hands-on loan officers
- Low days on the market
- Property leasebacks
- A higher number of cash buyers
- Catfights (hahaha, no catfights, just kidding! but the rest is true.)
A few brave property owners want to venture out and sell the property themselves. I strongly advise against it. The housing market is making history right now, and things are just while out there. Don’t save a few thousand to lose 20k off your home appreciation.
The national association of REALTOR also known as NAR latest research report highlights ” FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $260,000 last year, signiﬁcantly lower than the median of agent-assisted homes at $318,000.”
In conclusion, if you are a central Florida property owner who wants to sell, right now is the perfect time to do it. Just remember, if you are looking to buy as well, plan the move and hire a real estate professional with experience in this market.
Florida seller’s F.A.Q.
What is the standard commission?
There is no such thing. Fees vary from broker to broker, and the compensation will depend on what they offer and their experience.
How do I hire the right agent for me?
It is simple: consult with a realtor to ask about their experience, check their online presence, testimonials, and strategy to sell your property. Most importantly, assess how you feel with the realtor. It would be best if you felt comfortable with the person you will be working with.
Where do I get reputable vendors?
During the pre-listing process, you may need vendors to do touch-ups or minor repairs on your property. You will need a Tittle company and or an attorney to do the closing. Prepared REALTORS have connections with vendors and will give you a list of companies offering services you need.
Thanks for reading! Until next week. Remember I’m here if you have further questions or want a free consultation. Call/text: 321.697.2426