It is no great secret that today’s real estate market continues to be a strong buyer’s market. At our office, we receive several calls per day from people around the world that are looking for, “a really, really—no really, great deal.”
So what is a seller to do in this market besides lay in wait for better times?
1. Marketing – Advertisements in the local newspaper are a thing of the past. Lately, we spend much of our days online. Over 90% of buyers start their search for homes on the Internet. Having a Realtor with a strong web presence is essential to selling your home today.
For instance, at our office we provide our sellers with detailed reports of where their homes are showing up online. We show them screen-shots of their listing and even how many people have clicked on it to see the property. We feel this data is essential with today’s tech-savvy buyers.
The important thing is to make sure your Realtor or real estate office makes the best use of these sites by enhancing your listing so it shows up more frequently and as a featured home. This costs a bit more but the payoff is much better than any type of print ad out there.
2. Experience – Experience is vital to selling in times like these. Anyone can sell ice cream in the middle of summer, but it takes experience to sell it in Alaska in the middle of a blizzard.
In 2005 and 2006 I was eating at the bar at Carraba’s and overheard the bartender telling a patron that he was just completing his real estate class and that he’d love to help them buy a home. I knew then that the bubble was about to burst.
Google your perspective Realtor before you even allow them in your home. Look them up at the state level in the Division of Professional Regulation and do a Better Business Bureau search on the broker and the company. They should have many years of experience and lots of solid reviews before you let them list your home for sale.
One of your first questions in any Realtor interview should be about how many years of experience they have.
3. Location – Just because an agent is good at selling mid-range homes does not mean they are also good at selling luxury homes. Ask prospective agents where they sell most of their homes and to what type of buyer.
Location is everything in real estate and this adage is magnified when selling in a buyer’s market.
4. Passion – There is enough bad news each day. You don’t need your Realtor giving you more of the same. Look for someone with a sense of passion for what they do and a positive attitude. People who are passionate and positive tend to attract others. You need the “power of attraction” on your side to balance the bar in your favor.
5. Price – Pricing a home and the ability to do it right in this market can make or break any sales strategy. Personally, I refuse to take overpriced listings that I know I won’t be able to sell at that price.
On the other hand, there are many unscrupulous Realtors that will start your home at any price you wish only to tell you in a few weeks that you, “need to lower the price.” They know this up front but they want the listing so bad that they are willing to say and do anything to get you to sign on the dotted line.
I go through a detailed comparable market analysis that takes into account both recent sales, what’s on the market and how many days they have been for sale. This data along with local area knowledge usually points to a proper pricing point that will generate interest and get an offer on the table.
Just don’t fall into the trap of overpricing by “a little” to compensate for lower offer — like from those “deal searchers” that call our office every day. Negotiate when you get the offer, not before it even exists. If they won’t come up to where you feel comfortable then move on to the next buyer. If you’re priced right the next buyer will be right around the corner.
About the Author:
With over 30+ years in Naples and 19 in real estate, Mark Weber is passionate about selling Naples homes. He has exceptional knowledge of Naples, education and experience only a real estate broker can provide. He focuses on sales of luxury homes in areas like Port Royal, Grey Oaks, Park Shore and the Moorings in Naples. If you have questions about this article or Naples real estate, please email him or call (239) 289-0799.