The Benefits of Underpricing in Today’s Market

Here’s how home sellers get top dollar in today’s market.

Today’s buyers are really excited to hear about sellers who underprice their homes since they’ve felt like they’ve been overpaying. They will want to see these homes first and when they see value that will cause them to make an offer on your home. Sellers, of course, want top dollar, and today I’ll discuss how they can get it.

Looking at the closed sales stats from our market, we know what the buyers were willing to pay for homes. When a home is priced correctly, either at or just under market value, sellers can generate a bidding war and in many cases sell their properties well over asking price. It’s like an auction; if the room is full and everyone is bidding against each other, it can create a frenzy that motivates buyers to put in a higher offer.

However, if you price the property over the competition, the home may sit on the market and become stale. An increased number of days on market gives buyers and their agents the wrong idea and an opportunity to come in with low offers.

If you have any questions or would like to discuss pricing or marketing strategy, please call or text today at (239) 248-8000. I’d love to help you.

Why Sellers Are Getting Upfront Home Inspections

Here’s why sellers in our market should do a pre-listing inspection.

How do pre-listing home inspections help sellers in our current market? Many sellers are getting a home inspection done upfront, but you may be asking yourself why the seller would pay for an extra inspection, especially in a market with low inventory and high buyer demand. The main reason is that it attracts more solid offers for the seller.

Some buyers are trying to balance the playing field by making offers on multiple properties contingent upon a home inspection. They’re coming down to Florida, looking at four or five properties, and tying them up with home inspection contingencies. Then they’ll make the decision about which one to go with, but that means three or four sellers have been waiting off the market for up to 14 days, only to have the buyer back out of the deal.

"Many sellers are getting a home inspection done upfront."

I’m having my sellers do the inspection upfront, which provides confidence for buyers. Then, honest buyers without ulterior motives are more likely to make offers on your property, quite often without an inspection contingency. When we give them the peace of mind that they can buy your property without worry, multiple offers will come in, which gives you more choices, a higher price, and better terms. Upfront inspections mostly eliminate buyers that are not coming in with fair intentions. I want to help you get more offers so you can choose the strongest buyer. If you have any questions, call or text today at (239) 248-8000. I’d love to help you.

When Not to Sell High and Buy Low

Conventional marketing wisdom might not work in this market. I’ll share how we adjust accordingly.

You’ve probably heard the old market wisdom of "Sell high, buy low".

Buying and Selling Homes at the Same Time

Today I’m sharing your options for buying and selling simultaneously.

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In today’s market, a lot of people are looking to sell their current home and buy a new one. I’ve been getting many questions about how to buy and sell at the same time, so today I’ll be talking about the ways you can make it happen.

The 6 Steps for Creating a Bidding War and Earning Top Dollar

By following these steps, you’ll leave nothing on the table when you sell.

Why Today’s Market Is Perfect for Buyers and Sellers Alike

Our market provides a perfect opportunity for both buyers and sellers.

We Can Make Low Inventory Work for You

We have record-low inventory, but it can work for both buyers and sellers.

We Get Sellers Multiple Offers

We’re leveraging open houses to get more offers and higher prices for our sellers.

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We’re currently seeing homes receive multiple offers and sell above asking price every week on our listings. We’re positioning our properties so that this happens; we’re pricing and marketing them to find more buyers. The way we’re introducing them to the market is quite a bit different. We use an extensive marketing campaign to put homes in front of more buyers and expose them to all agents in the marketplace to make it a level playing field for all parties. Our marketing is proactive, targeted, and we work within the community to generate a massive turnout for open houses. We unveil the property on a Sunday as an open house between 1 p.m. and 4 p.m. We’ve never been able to strategize an open house better than right now, and sellers reap the benefits. Buyers and real estate agents have the opportunity to come see the home, and we’ve had over 30 buyers show up to a single open house resulting in multiple offers.

"We use an extensive marketing campaign to put homes in front of more buyers."

Then we let all the buyers know we’ll be accepting bids until Monday at 6 p.m., and everyone gets excited about this great opportunity. We advertise a week in advance by using strategies like calling people in the neighborhood, targeted postcard mailing, and an email blast. All this means we generate the highest and best offer possible in the market right now. Sellers are delighted, buyers feel they’ve had plenty of opportunities to secure the property, and it’s fair for everyone involved. These homes never languish on the market.

If you have any questions, call or text today at (239) 248-8000. I’d love to help you.

Where Are All the Buyers Coming From?

This is why buyers are coming to Southwest Florida from all over the world.

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The topic of the day is homebuyers in Southwest Florida: Where are they all coming from? The answer is everywhere—all over the world. We have buyers coming from Canada, the Northeast, and even the more congested cities in our own state like Miami and Ft. Lauderdale.

"Some of our listings are selling very quickly and with multiple offers."

We have families that want to get into larger homes, buyers who want to take advantage of the low, low interest rates, and buyers who have the ability to work remotely now and want a different lifestyle. If you’re even thinking about becoming a seller, you have the opportunity to sell while it’s still a seller’s market and buy a new home with an extremely low interest rate. Some of our listings are selling very quickly with multiple offers, and there are likely buyers out there clamoring for a home like yours. It will be a short season, so the right time to get started is now while demand is high and inventory is low. Since Easter is early this year, we have 60 days left of the prime selling season. This is the busiest we have been and we have the best prices we have seen since 2006! Why not sell now? Why wait?

If you have any questions, call or text today at (239) 248-8000. I’d love to help you.

Why Sell Before the Holidays?

There are benefits to selling before the holidays arrive.

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We are very busy these days—the holidays are coming up, and buyers are looking for homes they can enjoy during Thanksgiving, Hanukkah, Christmas, and more. With inventory so low, and since many homeowners haven’t returned to Florida yet, selling now will put you at a distinct advantage. It’s classic supply and demand: The lower the inventory, the higher your price. Buyers are very motivated this time of year to find a home, and many of them will get tax advantages if they buy before the new year.

If you’re even contemplating selling, now could be the best opportunity. Why wait? Take advantage of what’s happening right now.

If you have any questions about selling or real estate in general, call or text today at (239) 248-8000. I’d love to help you.

Are You Throwing Away Money on These Upgrades?

These are the four home upgrades we don’t advise for getting the best ROI.

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In a previous blog, we discussed which home improvements we recommend to get the best return on investment. Today, I’m sharing the opposite: the top four home upgrades that won’t get you great ROI. However, never say never; if you’ve already made any one of these enhancements to your home, you’ve likely enjoyed it, so it was worth it. Nevertheless, these are the renovations that, if you’re planning to sell soon, won’t get you all your money back:

1. Pools. Buyers love pools, but if you install a $50,000 pool, buyers aren’t going to give you a dollar-for-dollar return for it. Not everyone wants a waterfall or special pavers; some like a cleaner look—it’s a very personal preference.

2. Glass-enclosed lanai. Some buyers love these, but many are only here for a few months of the year; they want to be outside in the beautiful weather, enjoying the breeze. So many buyers see no value in a glass-enclosed lanai. However, if you already have one, other buyers will like it because it’s a multi-season room.

"Forgoing these refurbishments will save you both time and money."

3. Expensive bathroom remodel. The exception to this rule is if you have an extremely outdated or worn-out bathroom; if you can’t stand your bathroom, chances are, the buyer won’t either. There are many levels of upgrades, but I suggest not doing a large remodel if it isn’t truly needed. You don’t want to sink too much money into it. I’m also more than happy to come out for a consultation if you’re unsure what to do.

4. An expansion to the home. If you want more space, it’s better to move to a larger home rather than building an addition and making your current one bigger. For example, if you think buyers would prefer three bedrooms instead of two, putting in the kind of money it would take to build a new bedroom won’t get you a full return on the investment. Always be careful not to over improve the home for the area. You may find there is a maximum price a particular community can bring especially to a resale or older home. Don't get caught by diminishing return!

Forgoing these refurbishments will save you from losing valuable marketing time and increasing your cost to carry, only to get a modest percentage of it back.

If you’re thinking about doing any remodeling of your home, we’re more than happy to help. If you have any questions, call or text today at (239) 248-8000. I’d love to help you.

Which 4 Upgrades Have the Best Return?

Here’s what sellers need to know to make the most of their time and money.

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If you’re thinking about selling your home soon, consider the fact that not every home upgrade will give you a great return on investment. However, there are four improvements that will. The first upgrade that we typically recommend is minor—and I stress, minor—kitchen repairs. You don’t necessarily want to pour a lot of money into new cabinets, especially if yours already meet today’s standards. That said, changing out the hardware, appliances, and putting in a nice piece of quartz will make your kitchen feel as good as new (or even better) in the eyes of a buyer. If you’re thinking about a major renovation, let’s talk before you invest the money; we want to be sure that you’ll get a return on your investment. The second upgrade that almost always pays off is a fresh coat of paint. Nothing freshens up a home better! Choose a light, bright, and neutral shade that’s appealing to everyone. There are two colors out now that seem to strike a chord with the majority of buyers in today's market, and I’m more than happy to discuss which choices will make the most sense for your home.

"New flooring is a surefire way to grab a buyer’s attention."

The third upgrade that buyers love is new flooring. If you have old, worn carpet or outdated tile, upgrading can bring a world of good to your property and make it feel modern. New flooring is a surefire way to grab a buyer’s attention.

Lastly, improve your landscaping. Make sure your shrubs and trees are trimmed, add pops of color wherever you can, and lay down a lovely welcome mat so your home feels inviting.

Remember: You’re competing against a builder, so making the right upgrades in the right areas will modernize your home and draw buyers’ attention. If you have any questions, call or text today at (239) 248-8000. I’d love to help you.

Is It a Good Time to Sell?

Here are all the reasons you should list your home for sale now.

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Should you list your property for sale now or wait? If you’re considering selling, you likely have many questions, especially during this unpredictable time. If you’re wondering whether you should sell now, that’s truthfully an indicator that you should. Take advantage of our noteworthy low inventory and high demand. We have had properties selling in just days on the market, even homes that were previously listed with other brokers are now selling with us. There have even been multiple offer situations causing properties to sell over asking price. We have not seen a market this strong for sellers since 2005. In the last 90 days, I’ve pended and closed 33 homes. We’re busier now than we’ve been all year; the summer months have become the new “selling season” this year. No one knows what will happen in the fall market with the health crisis or the election. However, buyers are in the market right now; we’re seeing a lot of buyer confidence despite the coronavirus. The northern buyers are escaping New York, New Jersey, Illinois, Pennsylvania, and Ohio, and coming to Southwest Florida. They want to ensure they have a place to come to be outdoors and active when they'd otherwise be stuck indoors in the winter at home. COVID-19 only heightens the need to have a great place to escape to when stuck inside.

“

Take advantage of our noteworthy
low inventory and high demand.

”

We also have many buyers coming here from Florida’s east coast where the population numbers are higher. They’re leaving Miami, Fort Lauderdale, and Boca Raton, and looking at our area as a desirable option. For all these reasons, low inventory is causing quicker sales at higher prices; it’s classic supply and demand. If you can sell now, is there any real reason to wait? You’ll net more money by selling now!

If you have any questions, call or text today at (239) 248-8000. I’d love to help you.

Should You Trust Your Zestimate?

Getting an online estimate of your home’s value is convenient, but is it accurate?

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A lot of the people we work with want to know what a Zestimate uses to come up with a home’s value and if it’s accurate. Buyers are making offers on properties after looking at Zesitmates and home sellers often consult Zillow to find their home’s estimated value. When people ask about these numbers, the answer is that we don't know exactly how they come up with them. I’ve seen prices that are too high, too low, and once in a while, they’re accurate. When we look at the value of a property, we first look at an appraised value that uses accurate, up-to-date data to arrive at a price. I’ve done appraisals as a real estate broker, and we can adjust a home’s value based on a ton of different factors (location, views, upgrades, updates) that can impact the property's value positively or negatively.

“

A professional agent will give you
a much more accurate value.

”

If you’re a buyer or seller, be fair to yourself and don’t use your Zestimate as the final word. To find out what a property is really worth, you should be consulting a professional like myself who can give a much better, much more accurate representation of what a home is worth on the market.

If you have any questions, call or text today at (239) 248-8000. I’d love to hear from you.

Why is Third Place Such Good News for Florida?

Florida recently came in third place when it comes to the highest state populations. Here’s why that’s great news for homeowners in our state.

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Florida recently moved up to third in terms of state population. What does that mean to you? For sellers, it means that there are a lot of people relocating to sunny Southwest Florida. Many of them are running from the tax hikes in New York, New Jersey, and Illinois. They are looking to take advantage of tax benefits, and we are seeing a mad rush. If you’re thinking of selling, or looking to buy while rates are low, it’s an ideal time to visit our neck of the woods.

If you have any questions, call or text today at (239) 248-8000. I’d love to hear from you.

Why It’s Better to Sell Now

Now is the time to put your home on the market. Here’s why.

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Sellers are asking on a regular basis, “Should I sell now or wait until next season?” My emphatic answer: Sell now. Maybe you're asking, why wait? Is there any benefit to waiting, especially with an election coming at the end of the year? Many indications tell us that prices are higher now, and a lot of the low inventory has sold, which means you have less competition and more motivated, serious buyers searching for homes. The tire-kickers and sight-seers have gone home. We are seeing families, locals, and anyone relocating with children buying now so they can be settled in before the new school year starts in August. Locals typically buy after season; anyone who has a job in a seasonal industry is just too busy otherwise. The upcoming spring market up north means more homes will sell, freeing up buyers to come down and buy your home once theirs is sold.

“

The tire-kickers and sight-seers have gone home.

”

My favorite reason to sell now is that you can net more money. By stopping the cost to carry for another year, you can put all that money into your pocket right now. If you’re a gambler, you could try your luck waiting until next season, but selling now likely means selling at a higher price with a lower cost to carry. If you’re considering selling, I am happy to provide you with a market evaluation to see the best price your home will fetch in today’s market.

If you have any questions, call or text today at (239) 248-8000. I’d love to hear from you.

5 Factors That Drive Buyers Away From a Listing

What was it that prevented your home from selling? Here are the five factors that most often drive buyers away from a listing.

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Sellers have been consistently asking us why their homes are failing to sell, especially in today’s market. Their listings sat on the market through the season, and now their listing has expired. When we troubleshoot an expired listing, we look at a few factors: 1. Marketing. How was your home marketed? What types of buyers were you reaching? Often, if a home wasn’t marketed properly, you just didn’t reach the right group of buyers.
2. Pricing. Pricing can often prevent a property from selling. If you’re not in the right price range and your neighbors are selling, sometimes you only need to tweak your asking price to get you in the correct price range. For example, we sometimes see overpriced listings drop their prices down by just $2,000 or $3,000 and then successfully sell. You don’t need a big adjustment to see a huge improvement.
3. Condition. If the home’s condition isn’t up to par, the buyers often won’t submit any offers or even come to see your home in person.

“

You don’t need a big adjustment
to see a huge improvement.

”

4. Photography. Your listing photos need to be crisp and clear; if you have a great view, the buyers will want to see it. We only use professional photography so that we can always make a great first impression on potential buyers.

5. Accessibility. Prospective buyers need to be able to see your home. Quite often we see listings expiring due to having uncooperative tenants in place, a smelly pet that wasn’t put away, difficult showing hours, no key box, or a requirement that the listing agent must accompany the buyer during a showing.

If your listing isn’t attracting the kind of attention you want it to, I’d be more than happy to help you troubleshoot and find out what’s holding you back from success. Don’t hesitate to reach out to me—let’s make the necessary changes so that we can get your home sold.

If you have any questions, call or text today at (239) 248-8000. I’d love to hear from you.

How to Troubleshoot a Listing That Won’t Sell

If a home isn’t selling, the answer to why lies in the feedback.

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“Why isn’t my home selling?” That’s a question a lot of sellers are asking right now. When working with an expired listing, I like to ask the seller: What was your feedback? How much activity did you get? Did you get offers? What do you think is stopping your home from selling? A lot of sellers don’t know. However, the answer is often in the feedback. For example, I had a listing that was a 2-bedroom (plus a den) located in an area where most of the other homes had three bedrooms. When I did a market analysis, I saw that buyers were choosing homes with three or four bedrooms. When I visited the property, I found out that the den was very large but lacked a closet. That’s when we added a stipulation to the listing stating that the seller would install a closet, and we relisted the home as a 3-bedroom property. After that, we received multiple offers quickly.

“

When we look closely at the feedback,
the answer is usually there.

”

On another listing, I had received a lot of feedback that the rooms were small, but the real problem was that the owners had large furniture. Once we removed pieces of furniture, the rooms seemed larger, and—you guessed it—we sold the property. Another listing I represented was located on the beach, but its previous two agents couldn’t sell it because it didn’t have a view. When I saw the property in person, I realized it actually had a great view—we either had to wait for the palm trees to grow or answer that complaint. So, we reached out to the homeowners association and asked them to trim the trees. After they did, we sold in less than 30 days with multiple offers. When we look closely at the feedback, the answer is usually there, so it’s important that your agent is resourceful, creative, and will get to the bottom of why your home isn’t selling.
If you have any questions, call or text today at (239) 248-8000. I’d love to hear from you.

Should I Sell a Property With a Renter in Place?

If you own an investment property, does it make sense to sell while you have tenants already living there? Yes, and here’s why.

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If you are thinking about selling an investment property but there’s already a tenant in place, should you still sell? The answer is absolutely. If you're thinking of selling, there are plenty of buyers who want to purchase a home that already has rental income. It will also offset the cost for you to carry the property in the meantime between the sale and make sure the property is in good showing condition. You won’t have to worry about the costs of utilities either and there is someone on-site to keep an eye on the property. The grass will be cut and the property will show well with furniture.

“

We have a lot of experience working
with clients like this.

”

We are experienced at showing properties with renters in place. In fact, more than half of the homes we sell are like this. We communicate very openly with the renter, find out how they like to be communicated with, whether they want a key box on the door, whether there are pets in the property, and other things to make sure the home shows well and is accessible.
If you have any questions, call or text today at (239) 248-8000. I’d love to hear from you.

Are You Better Off Selling Furnished or Unfurnished?

If you list your home as “turnkey furnished,” you increase your odds of selling quickly and for more money. Here’s how.

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Should you sell your home furnished or unfurnished? Whenever a seller asks us this question, we tell them they actually have three options: selling furnished, unfurnished, or what’s called “turnkey furnished.” Buyers will look for properties that specifically have furniture, and some want properties that are turnkey furnished. The difference between other properties and those that are turnkey furnished is that buyers are able to move in and sleep in the home that night and rent it out the next day. This makes it a specialty for investor buyers or buyers who are in a hurry. If you offer your home this way, it will appear in all three search types. To have your home turnkey furnished, you must leave everything the buyer would need to live in the home immediately (linens, pots and pans, dishes, etc.).

“

When a buyer sees a turnkey furnished home,
they’re willing to make an offer and
close quickly at a better price.

”

If this is an option for you, doing so will increase the number of buyers who view your property. Additionally, because these buyers want to use it or rent it immediately, you’ll have a quick closing. Furthermore, motivated buyers like these often will pay more money. Tax benefits are also available, but you’ll need to speak with your CPA about that. In many communities, it’s standard practice for homes to be sold furnished, so if you don’t offer your home furnished, you’ll appear to be offering less of a value. When a buyer sees a turnkey furnished home, they’re willing to make an offer and close quickly at a better price. Whether you’re thinking of selling your home furnished or turnkey furnished, I’d love to help you so you’ll attract the maximum number of buyers and earn the best price with the fastest closing. If you have any questions, call or text today at (239) 248-8000. I’d love to hear from you.