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Tampa Bay Real Estate: Selling a Home in Today’s Market

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There are many signs that point to a real estate recovery underway in the Tampa Bay area. Home sales have picked up, construction of once abandoned communities has cranked up again, and inventory is down significantly over the last few years. That being said if you expect to sell your home right now competition remains fierce and distress sales often lure bargain hunters away. Low demand, excess inventory and an abundance of bank owned properties tilt the scales in favor of the buyers and not you. So what will get your home sold in this market?

Clean, clean, clean! There is no real diplomatic way to say this: Clean your home of any and all clutter. So you never were a neat freak? If you are interested in selling your home, then now is the time to learn. Detach yourself from your home for a moment and try to view it in the same way a buyer might. There are many things you simply overlook because you reside in the home. Are those door jambs dirty? How about those finger prints on the bathroom door? Is that a layer of dust on top of the TV? Are you really going to read those magazines or are they going to sit there another 6 months? Now is a great time to purge your home of all those items that have been collecting dust and you don’t need (be honest.) Counters should be cleared almost entirely. Think minimalist here, less is more! You need to get it clean and keep it clean until it is sold.

Price, price, price! In this world there are always people that are more than willing to tell you what you want to hear. Somebody who does this is not acting in your best interest, and trust me you can easily have a line around the corner of agents who are willing to do just that. As we know, life is 90% “NO” and 10% “Yes.” Ask yourself this, do you want to sell your home or do you simply want to list it? Do you enjoy wasting your time and money? I know I don’t, and I am not interested in wasting anybody else’s time either. Comparable sales usually tell you everything you need to know if you intend to sell your home. You can’t, nor can any agent, defy fundamental market principles. The most important thing you could ever know about setting a list price for your home is that market sets the price, not us. Look at the current data, accept it and price accordingly. If no data is available, or your home is unique then pre-qualify the home and pay for an appraisal.

Direct Vs. Passive Marketing. What is passive marketing? Passive marketing is what 90% of the agents out there do. That is, take a few pictures, do a brief write up, place your home on the MLS and then cross their fingers. Direct marketing on the other hand, is actively seeking buyers that fit the profile of your home daily and bringing them to you. Examples would be placing ads online in various cities daily, using blog software designed for direct marketing, email campaigns to other agents, youtube videos, virtual tours, and a hiring a professional photographer to showcase your home. When selling real estate in the Tampa/St. Pete area, and with all the competition, you need to employee direct marketing to get the job done.

Your home is now a product that is to be sold. This is tough for some people, but it has to be done. When a potential buyer comes into your home you want them to look at it as their home and not yours. This means removing all personal items, family photos from the wall, dressers etc. You want to make your home as neutral as possible from an ownership standpoint. If you no longer wish to reside in the property, then the time to cut the emotional cord is immediately, not after you move.

There are many other subtle aspects to selling a home in the Tampa Bay area, but those are the basics. Would you like to sell your home? Make sure it looks like a million bucks, depersonalize it, think of it as a product, price it to reflect current market trends and then aggressively market it until it is sold. You may be surprised at how fast it gets under contract.

When listing or buying a property it is essential to have a Realtor who knows the community, understands the Tampa real estate market and can price a home correctly. If you are interested in buying or selling real estate , I would love the opportunity to work with you. Please call me 813-924-4468 or email me: Jason@jasonbealsells.com