Important Market Update From Broker Keith Gordon - June 6, 2014
Since May 15, the market has slowed considerably. There is nothing any agent can do—whether they are a discount broker or traditional 6% agent—to entice buyers to buy. No agent has “customers or connections,” though they will try to convince you of that to get your listing. If you are considering a price drop, now would the best time to do so as we enter the summer selling season through July.
Why is the market soft? Look back to 2013 where price moved up between 10-30%. Buyer’s accepted those prices until August 2013 when business started to slow. No agent can persuade a buyer to buy and buyers’ moods change. They haven’t been in a strong buying mood yet this year. Yes we are selling but the homes that are getting contracts are in the premium neighborhoods, with the best schools, great kitchens and premium views.
We have listings in just about every city in Florida and sell about 600 homes a year and definitely have the pulse of the market and experience and marketing to sell your home. Price is the most important factor when it comes to generating interest on your home, not the listing agent. This is the very reason why we believe the listing side of the commission should be discounted. Being in the MLS so that buyer’s agents see your listing as well as public access via sites like Realtor.com give you the exposure you need. Having a desirable price is what will be the indicator of whether offers will come in.
At ADDvantage, we have more customer and agent support than any full-service brokerage company so rest assured, we are here to back you up. Stay the course, consider a price drop if it applies to you and call me if you have any questions.
If you are not a Pro customer, consider switching to Pro. Pro is a better listing and you have likely already spoken to me so I know you know I can negotiate and motivate people to give you the money to get sold!
Good luck with your sale.