Flat Fee MLS Listing broker Keith Gordon talks about the Florida Real Estate Market and what is working best.
The Florida real estate market remains in flux as of June 2010. We sold 20% of our Florida flat fee MLS listing inventory during the March-May 2010 madness as the tax credit dead-line rush came to an end. Many homes that were priced well sold during this sales spurt and those that are priced right today continue to sell quickly. The buyers are aggressive with their offers and inspection repair requests. We remain in a buyers market but there is buying pressure and inventory of well-priced homes is shrinking. One of the main issues today is getting the appraisal to match the contract price. About 35% of the sellers I represented through our Professional ADDvantage™ flat fee MLS listing plan were sold at higher prices than the appraised value. My sellers (and I) were successful holding all deals together by splitting the appraisal shortfall with the buyers.
Homes that are priced right don't last long before they have a contract in today's fluid market. I am feeling buying pressure not seen in many years. This "buying pressure" should hold prices steady and eventually drive prices back upwards once the short sale and bank owned selling pressure abates.
Homes that are priced too far above where Realtors and their buyers perceived 'appraised value" to be usually don't sell. The only reason why a seller is not getting enough showings would be price. Of course, I assuming that the home is listed in the MLS, there were no mistakes in the actual MLS listing that deters showings, their Realtor or flat fee MLS listing company is answering their phone properly and setting up showings. As well, if you are getting a lot of showings and no offers, then you are priced too high, again. The reason this is true is because buyers and their agents make offers on those homes that they believe will have a high probability of appraising...Besides wanting a good deal.
These are the reasons why listing flat fee in the MLS makes so much sense. The commission savings are anywhere from paying no commission (sell with no agent involved) to saving 3% over a traditional 6% listing. This commission savings allows by owner MLS sellers to be more aggressive with their pricing. Our site has useful by owner MLS selling tips and our savings calculator compares the saving of listing flat fee in the MLS v. paying 6%. This table also provides closing costs estimates.
Our past clients give our flat fee MLS listing service great reviews. The word is spreading throughout Florida that the cost savings of listing flat fee with ADDvantage® can be a factor on how fast you sell and how much equity you keep. Florida by owners are not sacrificing marketing or service with ADDvantage® because we have the most powerful and effective Internet marketing available and our service is incomparable. We are the only Florida discount broker or full-service agency that covers the phone from Mon-Thu 9AM-7PM, Fri 9AM-5:30PM, Sat 9AM-5PM, Sun 9AM-4PM. This extra service costs ADDvantage® more money to operate but the rewards are high as many Realtors and buyers call us early, late and all weekend. We never miss a showing opportunity!
When pricing a home in Florida, check out the "solds" for in your area. Short sales and bank owned properties do make up the list of comparable home sales. Often the condition of short sales and bank owned property are not the same as "straight-sales", these sales do make up at least 30% of the market today. It seems as though Florida will have 4 more years of short sale activity. The current short sale "pipeline" will take at least 1.5 years to close-out. Until this price-drag is lifted off the Florida real estate market, prices will be hard-pressed to recover. The good news is buyers are extremely active, interests rates are low and will likely be heading lower over the next year.
The future for Florida real estate remains bright with respect to interest rates and buyer attitude. The 30 year rate is 4.65% and I believe we are heading for an unprecedented new mortgage rate low of 3.30-3.50% over the next year and half.
Business is brisk at ADDvantage® as we are now recognized by many as being the best Florida discount MLS listing service. Our brand of discount MLS listing is more reliable than any other service because we offer more for your money. We have better MLS listing software and without any doubt the best Internet marketing of all Florida discount real estate companies. We even get calls from Census Workers trying to locate sellers. These homes are not even our listings! Our endless attention to Search Engine Marketing and Search Engine Optimization has now positioned our site, GetMoreOffers.com, into top ranking at Google and we are seen as a prolific buyers website!
We have been offering the most reliable flat fee MLS listing service in Florida for 6 years now and have over 40 years of Florida real estate brokerage experience. I have been a licensed Florida real estate broker since 1984 and I never received a complaint. ADDvantage® is also members of the BBB with a A-plus rating. We are direct members of most Florida MLS Realtor Associations from The Florida Keys, to Marco Island, Naples, Sarasota, Tampa Bay, Citrus, Orlando, Tallahassee, Gainesville, Daytona, Space Coast, The Florida Panhandle, and many more.
Our 3 flat fee MLS listing plans are MLS ADDvantage®, Street Smart ADDvantage®, and Professional ADDvantage™. The first 2 plans are "self-representation" flat rate MLS plans while Professional ADDvantage™ is full-service-discount pricing. You can view our "compare the flat fee MLS listing plans".
Flat fee MLS listing services in Florida vary greatly from one service to another. We are known for our "100% reliable" live friendly and professional phone support. We also send our by owner MLS sellers buyer leads confirmations and "offers" in real time.
We also represent buyers in all Florida cities and have great success with short sales.
Call us anytime and we would be happy to assist you. 727-942-2929 or 1-877-232-9695.
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