Real Estate Agent Man: The Podcast
Secrets of Florida Real Estate That Should Not Be Secrets
Season 1 Episode 7
TRANSCRIBED FOR THE HEARING IMPAIRED
You are tuned in to the Real Estate Agent Man podcast
Coming to you From Sarasota county Florida
Future buyers and sellers - this podcast is for you
It’s the place where we discuss secrets of Florida Real Estate - that should not be secrets.
My goal today is to offer some possible Christmas cheer to buyers while simultaneously throwing out a friendly reminder for sellers.
But before we do that, take a second if you would to help others find these fun and informative podcasts, by simply clicking the subscribe button, leaving a nice review, and sharing it with your friends and family - others will have the opportunity to hear the same information that you're hearing.Well that is the closest to a commercial we’re going to get today.
So on with today’s topic...
As 2020 is just about over, and there are probably very few who will be sad to wave bye bye, one of those groups will likely be Sarasota area home shoppers, because frankly we’ve had way more buyers in 2020 than available properties. I can tell you - that has been very frustrating for buyers.
But before I dive in - let’s back up a minute and set the stage with a brief look at recent history. In 2015 our housing market really started to come back strong after being quite depressed for several years.
As people saw their friends selling their homes and getting top dollar by the end of 2015 - that inspired many more homeowners to list their properties for sale in 2016. Also in 2016, multiple builders were creating new communities that both locals and wanna be Floridians were dying to move into. 2015 and 16 were great years to be a seller, but also to be a buyer as the mass influx of new Floridians hadn’t yet begun
In January 2017 it all changed - we not only became flooded with resale, but the new construction communities were in full production. This flipped us to a strong buyers market in what seemed to some people to be “practically overnight”
So why did we become flooded with Resale? Well it’s The same reason we have for the past 4 Januaries. For some reason, the masses in Sarasota County believe that January is the best time to list their house for sale. They think that because we get an influx of snowbirds and vacationers here - from January through March - that this makes it the best time to sell.
Unfortunately for those who believe this, the facts do not back that up. I have been running the sales reports for years and can confidently tell you that more people - does not equal more buyers.
A great example of this was August of 2019. There were more local purchase contracts accepted in that month than any other month that year. There was also far less inventory, which means the people who sold in August were in a stronger negotiating position. In 2016, 17 and 18, I personally had more sales of single family homes in the 3rd quarter of each of those years. And this year with our own active listings every month of the year - our average days on the market was 7. That’s right, 7 days on the market was our team's 2020 average.
Not one of our listings took more than 27 days to sell. Most of them sold in the 1st week. Many of them in 2 or 3 days.
So if you’ve been waiting for January to list your house, because you think that’s when all the buyers will be here, all you’ve likely done is waited to become one more in a flood of new listings.
Which brings us to the potential Christmas cheer for buyers that I speak of… and I say “potential” only because the past 10 months have been so out of the ordinary that I’m less confident that we will see the typical january influx of new listings. I do believe we will see an increase. I just don’t know if it's going to be like what we normally see.
But honestly any increase in inventory will be a good thing for buyers, if you are ready to pounce when the opportunity presents itself. Both you and your REALTOR need to have the goal of being the 1st one to a new listing when it hits the MLS. If you are not available, then make sure that your REALTOR will get there on your behalf and do a video walk through with you.
You also need to make sure that you are 100% ready to present the strongest offer possible, and oftentimes the strongest offer isn’t only about the purchase price.
Now I’d love to give you more details about how my buyers beat out other buyers in multiple offer situations, but that wouldn’t be fair to my buyers now would it.
Just know that speed and strategy matters. So choose your REALTOR wisely.
I can’t even count how many contracts I’ve negotiated at 10pm and on weekends! The Fast and The Focused can beat out everyone else. If you have a REALTOR who isn’t great at answering their phone, who doesn’t work nights or weekends - just be aware that another buyer does. That’s just the cold hard facts.
So the wrap is this….
Sellers. Stop thinking that you need to list in January - you are very possibly just hurting the success of your sale. If you really needed to sell last September, you should have sold last September. If you’re thinkin that it’s gonna be really convenient if you could sell your house this summer, then list your house in the summer. It’s OK, there are buyers. Your house will sell as long as it’s presented well and it’s marked at a fair price.
Buyers - Get with your lender and REALTOR this week. Make sure that you are ready to write when you find the right house. Also be aware that quite a few builders in the area are ramping up inventory for quick sales by the 2nd quarter of 2021. And by all means - do NOT go visit the builders sales centers without your REALTOR. Remember that those sales reps have 1 job to do, that is to sell you their bosses product. They do not know you or have a personal attachment to your happiness. That’s the role your personal Real Estate Agent has in your life. So let your realtor do their job and represent you from start to finish.
If you are considering calling Steve Martin Homes Group, you can know that as a family we are dedicated to helping your family with your real estate needs. If you noticed, our podcast series is not for investors, it’s for you, it’s for your parents, your kids, your friends all who need a home to live in.
That’s it for this podcast. Now my Christmas present to you; go to SteveMartinHomesGroup.com, fill out your wish list and we will get you into a great new home in 2021
On behalf of Steve Martin Homes Group,
Steve Martin Smith has sold more Sarasota County homes than 98% of the area’s REALTORS from January 2015 through August 2020. Selling $1,000,000+ estates from Panther Ridge in Manatee County to condos in Punta Gorda, he is truly a tri-county REALTOR. Originally from the Detroit area, Steve discovered Sarasota County in 1983 and then moved his young family here in 1998. In his life before real estate, Steve worked corporate business management positions for 25 years while simultaneously volunteering in youth and family ministry roles with his wife Katrina. Today, along with their adult children, they enjoy helping families to realize their goals and dreams. Steve also fancies himself a song writer and plays guitar whenever he gets the chance.
*as recorded by Stellar MLS for the period of 1/1/2015 through 12/31/2020