5 Tips for Selling a Fort Lauderdale Real Estate Home Or Condo in a Slow Market
May 11, 2008
Fuhgettaboutit! The days of selling homes by just putting a sign in the ground is over. Here in the Fort Lauderdale real estate market, the housing equivalent of musical chairs has caught many a homeowner behind the proverbial 8-ball in trying to sell their Fort Lauderdale home or condo.
Home prices have dropped precipitously in the last 12 months and many economists don;t think we have hit bottom yet. What once was a sizzling hot market has come to an abrupt halt and buyers are holding all of the cards right now. That is not to say that you will not be able to sell your house, it just means that you had better be prepared for a large bite of what is the Fort Lauderdale real estate market reality apple.
Before we get into the five tips, let me just let you know honestly, that if you do not need to sell, then don’t. This is not the time to be “testing the waters’ or just “seeing what you can get”. The current Fort Lauderdale real estate market is not for the timid or the unprepared. Right now I would only advise selling your Fort Lauderdale home or condo if you actually NEED to sell.
1. A Fixer-Upper May Fetch a Much Lower Price: A couple of years ago a spit-shine, quick yard cut and a touch-up paint job may have gotten the job done. It’s not likely to work in a Fort Lauderdale real estate market with an abundance of inventory on the market. Buyers simply have too many options to waste time on a home that is not up to their standards.
If your house needs work and you can afford to fix it, then do so and let your home try to stand out. If not you risk having your Fort Lauderdale real estate home or condo being compared to foreclosures and bank owned properties and singled out by bargain hunters looking for the best deal and right now, many of the banks are in a much better position to deal than most homeowners are.
2. It’s Not Location, Location, Location Anymore: It’s Price, Price, Price!: I don’t want to be the bearer of bad news but homeowners have to realize that we are in a declining market and no one seems to have a firm idea where we are going to end up. Prudent buyers are placing offers based upon their own due diligence and the advice of family members and others who are telling them to be VERY conservative relative to price.
In fact I am hearing many buyers are building in cushions planning for further price declines. The key to selling a home in the current Fort Lauderdale real estate market is making sure you are absolutely realistic about your price. In this market, it may make more sense pricing the property to move and offering incentives to buyers. An unrealistic price may prevent you from getting any action on your home and the result is a house that just sits.
3. Hire P.T. Barnum As Your Agent: You are going to want an agent who can sell. You want an agent with a plan, not one who takes every call puts a sign in the ground and waits..and waits…and waits. Talk to an agent who knows how to market. Ask them what they are going to do to sell your Fort Lauderdale real estate home or condo.
Look for someone who is willing to break from the mold and do something crazy to sell your home. you are going to have to do something to draw attention to your home in only the way that a master showman can!
4. Get Involved: Call your agent at different times of the day. Make sure he or she is actually answering the phone. Too many sellers assume the agent is working. Find out if they are a full time agent. Be flexible and make sure that the agent has the greatest possible access to the property. Clean up the home, mop the floors, keep it uncluttered. When you go out to a nice restaurant presentation is often the most important aspect of your dining experience. Food tastes better in a clean ambient restaurant. Make sure your home has that appeal!
5. Remember, There Is No Such Thing As A Low-Ball Offer: If you have read this far then you must know that you NEED to sell. If that is true, then be prepared for offers by buyers and bargain hunters well below your asking price. Don’t get insulted, don’t get offended and don’t make the mistake of not responding.
If your agent calls it a low ball offer then fire him or her as they are most likely not working in your best interest. A lower priced offer is still an offer and it signals the beginning of the negotiation process. Too many agents influence sellers to ignore what they perceive to be a “low-ball offer”.
That is foolish and a sign that you are working with an inexperienced uncaring agent. Open negotiations can and often will allow buyer and seller to come to some meeting of the minds…even if that meeting is to agree to disagree. In any event you hear what a prospective buyer has to say directly about your Fort Lauderdale real estate home or condo.
I’ll have more tips in the coming weeks but please make sure that if you are selling your Fort Lauderdale real estate market home or condo that you really take into account these five tips.
If you need any help in coming up with a marketing plan as to how to sell your Fort Lauderdale real estate market home or condo, please contact me via the contact form below or give me a call at 954-709-7461.
Here some other posts you may find interesting...
Fort Lauderdale Real Estate
Fort Lauderdale Homes And Condos For Sale
If you are interested in learning more about buying a home or condo in Fort Lauderdale or anywhere in South Florida; or if you need any information about the Fort Lauderdale real estate market, please feel free to contact me and it would be my pleasure to assist you.You can contact me at the number shown below or please feel free to contact me by the form below and I, or one of my assistants, will be sure to get right back to you within a few hours, if not sooner.
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Robin Sing-Cunningham
robin@robinashley.com
Access USA Realty
Local Fort Lauderdale | South Florida : 954-709-7461
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