Saturday, July 01, 2006

What will it take to SELL your property in this market?

The truth is that there is a lot of properties for sale, a lot of inventory, triple the amount from last year. This means that if you are selling, you have a lot more competition. If you are not in a hurry and do not really need to sell, then do NOTHING at all.
If you are motivated and don't have a choice, there are several things to do:

  • First, price your property correctly (look at closed sales, not active listings).
  • But most importantly, OFFER SELLER INCENTIVES!!!
As a seller, you can offer incentives to the actual buyer or you can offer incentives to the buying agent. Because of the amount of inventory, we find it more efficient to offer these to the buying agent, but keep in mind that every situation is different.
What does this mean? If a real estate agent is working with a customer ready to purchase a property in a certain area, usually, that agent will show properties that will make them more money. That agent will usually show properties that offer bonuses or that pay more commission. Therefore, that agent will most likely show and push for your property if it will make him/her more money.

This is not the time to hire discount brokers that offer less commission. If
you don't want to take our word for it, read the following article by Matthew Haggman from the Miami Herald.

If you have any particular questions about your selling strategy, please do not hesitate to call us at 305.758.2323 or e-mail us at