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Jackie Colson-Miller

Jackie Colson-Miller, CIPS
Certified International Property Specialist
NAR Liaison to Austria
Tampa Real Estate
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3401 Henderson Blvd
Tampa, FL 33609
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How to Beat Your Competition as a Seller in a Buyer’s Market …Tampa Real Estate Market Update

THE LATEST NEWS ON THE TAMPA REAL ESTATE MARKET, BUYING A HOME IN TAMPA, AND REAL ESTATE ISSUES AROUND THE WORLD, EVERY DAY, ON THE REAL ESTATE SIZZLE.

Foreclosures are up in the Tampa Market. This is good news for Buyers who are bargain-hunting and bad news for Sellers who are not pricing their homes in line with recent sales, including foreclosures, in the area.

Many sellers are still trying to get last years pricing for their home. They are changing agents, insisting on Open Houses, want plenty of newspaper advertising, and keeping their homes priced like the Taj Mahal in other words, they are doing everything WRONG! It Moneyhousedoesnt matter what you could have sold your home for last year that is not the market today. Sellers need to “listen” to what the market is telling them.

In todays real estate market in Tampa, the homes that are priced below the competition are the ones that are selling. That is the bottom line. Where are the buyers shopping for homes? On the Internet. Forget newspaper advertising. In a matter of minutes, buyers can place their criteria in a search engine online and have the list of all homes that meet their criteria. What are they looking for? THE LOWEST PRICE PER SQUARE FOOT IN THE NEIGHBORHOOD THEY LIKE. That information is not found in a newspaper ad. Why would buyers look at a simple newspaper ad, when they can see photos, room sizes and amenities, in the same amount of time on the internet. Through listings in the MLS (which is internet based) and other online home search engines, buyers can quickly see what homes are priced right for the market. Spending money on newspaper advertising is like driving down the street and throwing a One Hundred Dollar bill out the window!

Once the buyers have narrowed their search to the homes they like, they will contact their agent to see them. How do I know this? Buyers and Sellers contact me every day, right here on the Real Estate Sizzle! I tell Sellers the “straight story” about what it takes to sell a home in this market. Stay ahead of the competition. That is Marketing 101.

What about the homes that are overpriced? They will be the last to sell. With over 20 months of inventory right nowsellers need to read the market and price their homes accordingly. Every 2 3 weeks your agent should provide you with recent listings and sales in your neighborhood. Keep your pricing at, or below, the competition in your area. The law of supply and demand is really very simple.

Is your home prominently featured on the internetbeyond just the MLS system? Are there multiple photos? Virtual tours work well for large homes with open floor plans, but not for others. Buyers can view 10 photos much faster than a virtual tour. Make your listing easy and attractive to the buyers.

Is your agent tech savvy? An agent who still practices 1980s real estate will not be the best choice to sell your home in a sophisticated, tech savvy buyers market. Receiving email on your cell phone, the ability to scan and email documents, and having an interactive website are standard practices among todays best agents. Ask your agent about what technology he/she uses.

Is your home on a lockbox and easy to show? Relocating buyers often have just 1 or 2 days in town to make a home-buying decision. Dont be left off the list because your agent needs to meet them. Buyers agents will choose homes that are priced right and easy to show.

What else can you do to outprice your competition? Offer to pay the Buyers closing costs, Home Owners Association Fees, or a year of Homeowners Insurance.

When your Real Estate agent gives you the facts about recent listings and salesand suggests a price change for your homeyou need to listen, or be willing to stay put for a while.

Looking for real estate in Tampa? If you are buying a house in Tampa, or Selling a house in Tampa, I can help with any Tampa neighborhood, including: South Tampa, Davis Islands, Beach Park, Sunset Park, Hyde Park, Culbreath Isles, Palma Ceia, Westchase, Waterchase, Odessa, Cheval, Avila, Brandon, Riverview, FishHawk, New Tampa, Tampa Palms, Hunters Green, Arbor Greene, Apollo Beach, South Shore, MiraBay, Golf Communities, Waterfront Homes, Luxury Homes in Tampa, Clearwater Beach, St. Pete Beach, Condos in Tampa and International Real Estatecontact me!

 

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This entry was posted on Tuesday, April 8th, 2008 at 7:31 am and is filed under Real Estate News, Sellers, Tampa Real Estate Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

5 Responses to “How to Beat Your Competition as a Seller in a Buyer’s Market …Tampa Real Estate Market Update”

  1. Sara says:
    October 30, 2007 at 10:43 pm

    Great info Jackie! You sound like a no nonsense type of agent. If we all gave the same advice, there probably won’t be so many listings on the market.

  2. Pensacola Real Estate News » Pensacola Market Data For October 2007 says:
    November 1, 2007 at 9:38 am

    [...] Expired and Withdrawn listings are generally overpriced listings. That is why the inventory of homes for sale in Pensacola is so high. There are too many overpriced listings that will never sell. It is better that they just expire. Rather than go on about this topic, I refer you to a great article written by Tampa Realtor Jackie Colson-Miller, whose blog is a great resource and loaded with good articles. In this on, she talks about

  3. Alec Bobdon says:
    April 17, 2008 at 5:55 am

    It’s always very difficult for sellers to accept that they need to drop their prices, I have a hard time myself convincing owners.

  4. Lyn Smith says:
    April 30, 2008 at 11:13 pm

    Most sellers I find don’t know how to present their property. A lot of sellers keep their homes very dirty, with filthy bathrooms etc. I try to tell them that they need to try to keep their home as clean as possible, but some people are just born dirty!!

  5. Peter Bland says:
    June 11, 2008 at 5:57 am

    Sometimes it’s not the seller’s fault. If they have a tenant in the unit and they are trying to sell. Some tenants are really messy and of course they don’t care if the house sells or not, in fact they probably prefer if the house doesn’t sell.

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