3gb Community

11:30 PM May. 19, 2008 - 0 comments - [ post comment ]

The National Association of Realtors says 12 percent of home sellers went at it alone in 2007, a drop from 18 percent in 1997. But this number is very misleading because it does not count the large number of sellers who put their home on the MLS. These sellers don’t use a full service agent. They pay a flat fee to add their property to the local Multiple Listings Service and pay 2% to 3% of the sale price to an agent who brings in a buyer. It is estimated that another 10% of sellers use this type of method to sell their homes. Therefore we can easily say that selling a home By Owner is on the rise. We also believe that over the next few years this number will increase dramatically due to the fact that more and more people know about thess services and the fact that people who are selling a home have less equity now that they did in years past.

Thinking about selling a home in Miami?

6:34 PM May. 16, 2008 - 0 comments - [ post comment ]

If you are thinking about selling your Miami home, I would encourage you to understand how the market is in your area. It is not enough to find a realtor or to put your home on the MLS. The price you set your home will be the most important factor as you enter the market.

My best advice would be “Think like a Buyer when you Sell”. What I mean is that your prospective buyers are going to be comparing your home with other similar properties in your area. Look at what is for sale, be objective and don’t set your price based on what you want to get out of the home. Real estate is a commodity, not a product, and the value of a commodity is set by supply and demand. For the last couple of years the Real Estate Market in Miami has been full of sellers and not enough buyers. The consequences have been an increase in inventory and a dramatic reduction in home prices.

As you set your asking price take a strong look at the local inventory and price your home very competitively. In real estate, as in all commodities, the highest bidder always gets the sale. Often times, sellers with unrealistically priced properties become their own highest bidder. In Miami most sellers are the highest bidders for their own homes, and will continue to own their home.