Targeted Real Estate Advertising Selling Homes for Top Dollar

Posted on by

Part of any successful advertising campaign should include the ability to identify and target people most likely to buy a product.  The Ellis Team uses targeted real estate advertising as an additional way to sell homes for top dollar.

Let’s say your company makes the best dog treats on the planet.  You would want to target pet owners, and more specifically dog owners.  It would do no good to target cat owners if cats do not like the treat.  When we list a property, we try to think like a buyer.  If I list an 800 sq. ft home, chances are 8 roommates are not going to buy it.

In the covid-19 era we know many people lost their job, so they are not in the market to purchase right now.  Others who kept their job may want to take advantage of the low rates.  Still others do not need a job to purchase.  It gets complicated.  What we do know is an owner has hired us to find a buyer for their property.

As aggressive real estate marketers the Ellis Team casts several nets.  Our newspaper, PPC, radio, TV, social media, and direct mail campaigns cast a wide net.  We advertise the property to anybody and everybody hoping to find one or more buyers who show interest.  We call this the shotgun approach.

Additionally, we cast tighter nets.  We call this the rifle approach.  Lately we have been targeting cities up North where we know buyers are selling and leaving.  We talk to agents daily who tell us they have sellers leaving their state and they are not coming back.  Florida is one of the areas they are moving to. We have the ability to advertise our listings anywhere in the country.

Targeted Real Estate Advertising

Targeted Real Estate Advertising Selling Homes for Top Dollar

Targeted Real Estate Advertising Selling Homes for Top Dollar Wildginger Dr

The graphic shows two separate ads we ran this past weekend.  As you can see, these two ads generated 40 buyers in just one weekend.  Keep in mind, we are showing you just 2 of the out of town ads.  We may run more ads than 2, and we also run local ads for buyers who have an interest in real estate.  I count 61 buyers signed up just last weekend alone.

By casting multiple nets, we have been able to accumulate a significant amount of people interested in buying property here in SW Florida.  This data is useful because our team of buyer specialists can see what they are searching and call them with new properties entering the market.

It works like this.  Let’s say Sande or I go on a listing appointment and the seller wants to sell.  We know they will have their home ready next week to put on the market.  Our buyer agents can begin calling buyers in our database ahead of time letting them know that a seller will be listing their home next week in an area they are looking in.

We May Already Have a Buyer

Our team may already have the buyer for that listing.  We acquired that buyer through endless marketing, both during the time of the listing, and even before we took the listing.  Sellers benefit from the previous marketing our team has done because we keep the database of buyers.  This database is so valuable because it not only includes their name, email, and phone number, it also tells us what they are searching for and what they like.  Our agents can search the database and find buyers quickly.

Do not call us if your home is listed with another Realtor.  We offer this service for Ellis Team clients only.  We already know about the homes listed on the MLS.  Our buyers can see your home on our website. The Ellis Team proactively calls buyers when our team lists a new property to MLS.  Those sellers hired us, so those are the sellers we spring into action for.

If you’re thinking of selling and want to talk to us about the process, call Brett or Sande Ellis 239-489-4042 Ext 4, or visit www.SWFLhomevlaues.com for a Free instant online estimate of your home’s value.  Find out how targeted real estate advertising can help your home sell for top dollar too.

Good luck and Happy Selling!

See last week’s article “Total Real Estate Sales Volume Bounces Back for the Year”

Ellis Team Open House

Open House Sunday 1-4 PM

14120 Reflection Lakes Dr

14120 Refletion Lakes Dr
Open House Sunday 1-4 PM in Reflection Lakes Fort Myers

New Listing – Video Walkthru

5259 Skylark Ct

 

Total Real Estate Sales Volume Bounces Back for the Year

Posted on by

Total real estate sales volume, also known as dollar volume, has bounced back for the year.  The total real estate sales volume is the sum total of the actual closed price of each sale.  This results in the total dollar volume of sales.

Total Real Estate Sales Volume Bounces Back

When prices are up and sales are up, dollar volume must be up.  The same is true when prices are down, and sales are down.  We know total dollar volume would be down as well.  Sometimes prices are up, and total number of sales is down, and vice versa.  Therefore, we look at the total dollar volume of sales, or total real estate sales volume.

This metric is another indicator of the overall health of the market.  We reported back in June when May’s official numbers were released that total real estate sales volume was down 42.7%.  That hurt, and of course was a direct function of covid-19 and the stay at home orders the nation was under in March.  Of course, Florida was under a stay at home order in April, as were other states.

Realtors learned to adapt.  Buyers were itching to buy, and they still are to this day.  We found a way to make transactions happen even in a pandemic.  The good news is we are back to the plus side for the year.  You will note, total real estate sales volume was up 1.5% over June of 2019 numbers.  While this is fantastic, it is not what brought us back to the plus side for the year. January, February, and March are what did it.  We were in a fantastic market pre-covid.  The great news is, we are getting back to a positive market again.

Interest rates are historically low, and the stock market is doing well.  The economy is doing better than expected given that states are not back to 100% open yet.  Some are wondering how mortgages in forbearance will affect the market going forward.  Nobody seems to know.  All we can say is the top Realtors learn to adjust their marketing in times of shift.  Top agents learn to pivot on a dime.  This is exactly what we did when covid-19 hit, and the Ellis Team sales numbers are up over last year.

Many local Realtors numbers are up, and many are way down.  The Realtors that pivoted and adjusted have done well, while those that did not market or keep up with their database have not.

The Ellis Team has several databases.  One of course is our past customers.  With over 5,000 sales in Lee County over the years, we have maintained a pretty healthy past client database.  The other database is buyers who are looking to make a move.  We have 10,677 right now in our database, so chances are, if you have a home to sell, we may have the buyer for it.

Our database is pretty neat.  When we take a new listing, we can search our database and see how many of the 10,677 are viewing properties on our site that match that home’s criteria.  Of course, we are adding to the database every day.  We spend thousands of dollars each month on the Gold Standard digital package, so we receive the best leads around.  Some of these leads are local, and some are out of state looking to make a change.

One thing we know for sure is, many of the buyers are coming from high tax states.  Other buyers are looking to escape the city life and get more rural.  We can target both buyers, and this is why Ellis Team sales are up, even in a pandemic.

To get your home sold Fast and for Top Dollar, Always Call Brett or Sande Ellis 239-489-4042 Ext 4 or visit www.SWFLhomevalues.com to get your online estimate instantly.  We look forward to speaking with you!

See last week’s article “Real Estate Marketing Trends Shifting to Professional Video Tours”

Watch the Future of Real Estate Latest Video

 

Real Estate Marketing Trends Shifting to Professional Video Tours

Posted on by

Today we would like to tell you how real estate marketing trends are shifting to professional video tours. Professional videos make a property come alive through cinematography.  When done correctly, the viewer enjoys a cinema like experience using all senses while familiarizing them with the property.

Imagine if children could learn math through an interesting movie.  Movies capture our attention and interest.  Isn’t that the whole purpose of marketing?  The reason most companies do not offer professional video is because it costs money, and lots of it.

Real Estate Marketing Trends Shifting

The Ellis Team is introducing professional video tours on many of our properties.  We create a single property website for each property that has professional photos, a 3D tour of the home, and a professional video tour.

Video Tours

While the video is on each property’s single website, we also upload them to www.SWFLvideotours.com where they are seen by even larger audiences.  We also load the videos on our Facebook pages where it is seen all over the world and shared by others.  This is the true power of leverage.  To get these results, you must have professional video to start.

3D Tours

You have probably seen 3D video tours used by a few agents in SW Florida.  The Ellis Team uses them as well www.swfl360hometours.com because buyers can access and view a home at their leisure from anywhere in the world.  They have helped us sell many homes during the Coronavirus pandemic. 360 home tours allow the consumer to be in control.  Many buyers love them, while others want to be wowed and not worry about the technology used to view the home.  This is where captivating video comes in.  Just as some people learn better with visual and others like audible, the Ellis Team employs multiple streams of marketing to reach the consumer how they wish to view a property best.

If you like the 360 self-guided tour, we have that.  If you like professional still photos, we have that too.  Now we are introducing professional video tours, and recent real estate marketing trends suggest consumers love it.

We ran an ad online last week up North and 175 people watched the video on Facebook alone.  The interesting thing is many watched the entire video.  We believe adding video to our professional photography and 3D tours will be a real winner for home sellers.

Thinking of Selling?

If you are thinking about selling your home, we have some information about what may happen in the market in the next 6 months.  You may want to talk to Sande or Brett Ellis 239-489-40402 Ext 4 to find out how this will affect your property.

If you are curious about your home’s value but not sure you are ready to do something, we have an online value tool that is fairly accurate, instant, and Free.  Simple go to www.SWFLhomevalues.com and enter your address.  It will show you your home’s value along with comparable sales in the area.

To get your home professionally video graphed, call Brett or Sande and find out how we can help get your home sold for Top Dollar.  We are marketing locally and across the world with our digital platform and aggressive marketing campaign.  Ellis Team sales have increased in the middle of a pandemic.  We believe this is the result of hard work, top notch marketing, and aggressive lead generating by our team.  The Ellis Team is not sitting back and waiting for the market to come to us, we are taking it to the market.  Isn’t that the kind of Realtor you want working for you?  Don’t forget to check out the videos at www.swflvideotours.com

See last week’s article “Rapidly Changing market Conditions in SW Florida”

Always call the Ellis Team at Keller Williams Realty 239-489-4042 Ext 4

Rapidly Changing Market Conditions in SW Florida

Posted on by

Earlier this month we wrote an article that inventory supply was down to 3.09 months in SW Florida.  Less than 4 weeks later we want to update you about the rapidly changing market conditions in SW Florida.

Single family housing inventory supply is down to 2.70 months as of July 29th.  The rolling average of closed sales for the past 365 days has increased by 219 sales.  This is a sign that closed sales are picking up. Housing inventory fell by 372 homes.  That is a total swing of 592 homes, and all this happened in a 27-day period.

Rapidly Changing Market Conditions in SW Floridao

This is why we say we have rapidly changing market conditions in SW Florida. If you are a homeowner in forbearance, you are going to want to speak with a Realtor soon.   The six-month window that began back in April will expire in October.  For most borrowers, the lenders front loaded the forbearance.  This means you will have a balloon payment at the end of 6 months.  If it was difficult making the payment before, it will surely be difficult to make all 6 plus October’s payment.  The good news is most loans have equity.

What we found during previous financial hard times is many people did not act.  They put their head in the sand and ended up losing their home when the home could have been sold before foreclosure.   Back in the mid 2000’s some were short sales, but those sales were better than foreclosures on a seller’s record.

Today, if the homeowner has equity, it may not be a short sale.  You may be able to pay off the loan without a foreclosure.  Many homeowners believe this was a government protection and their credit will be fine.  The truth is your credit will not be fine, and they will foreclose if you go in default.  Speak with your lender, and definitely speak with a Realtor before it gets too late.

Sellers thinking about selling should keep in mind we have a great sellers’ market today.  What we don’t know is how long that will last.  We have more buyers buying today.  Florida is well positioned because we have buyers coming in from other states.  We also have record low interest rates.  The wildcard is the election and foreclosures.

We feel fortunate to be here in SW Florida.  We have a lot going for us.  The fact that people want to move here may mitigate some or most of the financial distress foreclosures would cause us.  Today is nothing like the foreclosure crisis we went through as we have end users for properties today.  We did not have that back in 2006-2010.

Hurricane Update

 For those of you that have a transaction pending, please get an insurance binder now.  We could have several storms lining up, and once we are in “the Box”, insurers can no longer write new policies.  You can assume an existing one.  One year we had hurricanes lined up for about 6 weeks.  There were very few days insurers could write new policies. It looks like we may see the same thing this year, so do not take that for granted.  It could stop your closing even if the storms are not coming here, and nobody wants that.

If you would like to talk to us about your home’s value and your situation, please call Brett or Sande Ellis 239-489-4042 Ext 4.  Or visit www.SWFLhomevalues.com to find out your home’s value instantly, for Free. We will analyze your situation and discuss your options.  Good luck and stay safe this hurricane season.

See last week’s article “Timely Real Estate Trends We Are Keeping an Eye On”

3 Things We are Watching in SW Florida real Estate Market

Timely Real Estate Trends We Are Keeping an Eye On

Posted on by

Today we would like to share with you three timely real estate trends we are keeping an eye on in SW Florida.

Timely Real Estate Trends

The first is median time to contract.  This is the amount of time it takes the average property to go under contract for sale.  As you can see from the chart, it rose to 79 days.  That is a 11.3% rise from last year in June, and up considerably from May’s 47 days.  For the year however, we are still at 64 days, which is down 9.9%.  We will be keeping our eye on this metric.

Timely Real Estate Trends Median Time to Contract

Secondly, we are looking at new pending sales which were up 28.3% in June.  Some of this is pent-up demand from the previous months and some is the fact that interest rates are at historic lows.  Buyers do not want to miss out on this opportunity.

Timely Real Estate Trends New Pending Sales

Lastly, we are looking at new listing inventory.  New listings rose 9.6% in June 2020 over June 2019.  The issue is, new pending home sales were up 28.3% in June and up 2.2% in May, while new listings were down 1.6% in May and down 33.7% in April.

New Listings June 2020 Timely Real Estate Trends

You cannot have new listings down over 30% and new pending sales up 28% without it eating into existing inventory.  Existing stood at 4,090 listings in June, which was down 28.5% from last year.  This is a direct correlation between the three metrics we are analyzing in this article.

It is possible this market just re-balanced to the levels we are at today.  Or, it could be that sales are not higher than they are simply because there is not enough inventory to sell.  In other words, perhaps sales would be higher if there was more inventory.

We are seeing the most housing inventory gains coming in the $250,000-$300,000 range and in the $400,000 and up range. Inventory is down below $250,000 and flat between $300,000-$400,000.

Other Timely Real Estate Trends

Another trend we are seeing is agents from Miami coming over here with their clients and attempting to sell property over here.  Official June numbers show Palm Beach, Broward, and Miami-Dade areas with 3.9 months supply of homes on the market.  Lee County has 3.6 months, so technically we have less supply than they do relative to number of home sales.  It is possible they dipped recently and are sniffing over here for available properties to sell.

We saw this trend back around 2005.  It’s not fun because usually they have pre-qualification letters from Miami based lenders and we did not always find them to be legitimate.  More times than not, those buyers failed to qualify even though they had an out of town lender tell us they were golden.  It got so bad that local Realtors would require a local lender look at the buyer to make sure they were indeed qualified.  When I look at a pre-approval letter, I want to know that buyer can perform before taking it off the market for our seller.

The buyer may have been qualified, who knows.  In the end, the lender could not get the job done, and that gave agents fits because they worked so hard to find a qualified buyer only to find out they weren’t qualified, or the lender couldn’t perform.

No matter where you purchase, we tell customers to use a local lender, or a national lender with a reputation for results.  Otherwise local agents won’t trust your pre-approval letter and your offer may not get accepted, especially if there are multiple offers.  You do not have to use the local lender, just get a pre-approval from one so the sellers know you are qualified.

Realtor You Hire Matters

In a shifting market, the Realtor you hire matters.  This is true on the buying and selling side.  Always work with an agent that has years of experience in all kinds of markets, and several hundred if not thousands of homes under their belt.  The Realtor makes good money, and they are worth every penny when you need them.  It’s times like this when you really need experience you can count on.

Feel free to call Brett and Sande Ellis 239-489-4042 Ext 4.  We’re here to help.  Or visit www.swflhomevalues.com for a free home value analysis.

See last week’s article “Refinance Existing Home Versus Sell and Purchase New Home”

Watch the Future of Real Estate

Refinance Existing Home Versus Sell and Purchase New Home

Posted on by

With rates dipping to historic lows we get this question a lot.  Should homeowners refinance their existing home versus sell and purchase a new home?

Refinance Existing Home Versus Sell and Purchase New Home

We can make a compelling argument for both.  The best answer depends on your situation.  Odds are, you should probably do something.  If you are happy in your home, it meets your needs, and you plan on being there awhile you might consider refinancing.

If you have outgrown your home, or your home is too much work for you, you might consider a sale.  Inventory is low right now, so it is a great time to sell.  Not only will you be selling in a seller’s market, you will also be financing your next home into one of the lowest interest rate environments we have ever seen.  Of course, inventory is low, so we must make sure you have a home to go to.

Refinance Existing Home Versus Sell and Purchase

Let us throw out a possible scenario.  A homeowner owes about $274,000 on a 1st mortgage and about $243,000 on a line of credit.  Total debt is about $517,000.  Conventional loan limits are set at $510,000, so if this homeowner wants to refinance it’d be best to pay down $7,000 to get down to the $510,000 limit, otherwise it would be a jumbo loan and priced differently.

The principal and interest payment currently is $2,756.  A new loan at 2.75% would have P&I payment of $2,082.  That is a monthly savings of $674.  Most of that is due to the lower rate.  $28.58 of that is due to paying down $7,000 to get to the conventional loan limit.

This homeowner now has a decision to make.  They can refinance at 2.75% and save $674/mo., or they can sell and purchase another home that suits their needs better at 2.75%.  The key here is the low rate.  This homeowner should probably do something.  The question is, what is best for that family?

Time to Talk

This is where we come in.  We have several mortgage lenders we work with.  We can look at your situation, see how much we can sell your home for and how much would end up in your pocket at closing.  The next step is determining where you would go.  It might be local, or you might consider moving to a different area.  We have an app that can show you homes anywhere in the country, and of course being part of the nation’s largest and most successful real estate company allows us to put you in touch with a great agent anywhere in the world.

If you are living in a home that does not quite meet your needs, perhaps it is time to start exploring.  Some people decide a move is not worth it.  Others decide they feel like they are settling and would like to make a change.  Either way, the Ellis Team is here to consult with you.  Personally, we do not care if you decide to sell today or 5 years from now.  We are here for you whenever that day comes.  We are interested in helping you make the best possible decision for your family.

Curious?

If you are a little curious as to what your home value is, you can call us at 239-489-4042 Ext 4.  Ask for Sande or Brett Ellis.  Or, you can find your home’s instantly for free on our website www.swflhomevalues.com

Making a move is not always an easy decision.  There are numbers involved, memories, and just the hassle of moving.  Our team has resources for you to help make your decision easier.  We are not here to tell you what you should do, but rather counsel you and present you with your options.

We look forward to speaking with you and helping you decide which way is the best for your family.

Good luck and stay safe!

See Last Week’s Article “Price at Market Value and Buyers Will Come”

Price at Market Value and Buyers Will Come

Posted on by

You’ve heard the movie quote “Build it and they will come” from Field of Dreams.  The saying for the SW Florida real estate market is price at market value and buyers will come.

Pending sales were up 2.2% in June which should lead to some nice closing numbers going forward.  However, if you look at the pricing trends for the past few years, you will notice prices have not moved much.  Every year around May or June home prices are lower, primarily because the larger sales happen in season.  2020 was different because season was interrupted by covid-19 and we were under a stay-at-home order in April.

Price at Market Value and Buyers Will Come

Price at Market Value and Buyers Will Come

What is selling today is pretty much anything that is priced correctly.  We are selling low, middle, and high-end homes.  The key is, buyers are looking for housing amongst low inventory, but they don’t want to overpay.  A real estate property buyer never wants to overpay, and sometimes it seems like they must in low inventory markets.  We do think there has been some upward price pressure, but we are not seeing it yet in the overall numbers.  We may see it in the June or July closings when those numbers are released.

Sellers must weigh to counterbalancing ideas.  One is you have got a hot commodity in a lower inventory market.  The other is you don’t want to be greedy and miss this market.  Inevitably some sellers miss a seller’s market because they get too greedy and think the hot market conditions are going to last forever.  These sellers always say, “I wish we had that hot market back” when they own their home 4 years later but wished they had sold 4 years ago.

We can sell a home in a hot, warm, or cold market.  The fact is some sellers succeed while others fail to sell even in the hottest of markets.  It is always nice to sell in a hot market, and it stinks to miss it because you thought it was going to go even higher.  It’s happened before, and it will happen again.  The question is, is it going to happen to you?

Market Where the Buyers Are

The other key ingredient is knowing who your market is and knowing how to reach them.  We’ve had great success with out of state buyers, so we’ve marketed out of state.  You have to go where the buyers are, and the Ellis Team knows how to do that.

Our listing inventory has shrunk because we have sold most of it.  Sure, we have new listings coming in all the time, but not as many as we are used to marketing.  If you have a property to sell, you might want to give Brett or Sande Ellis a call. 239-489-4042 Ext 4. We have over 3 decades experience marketing in changing markets, and we’re definitely experts at reaching buyers where they are.

The Ellis Team has been voted Best in Real Estate for 5 straight years in the News Press Reader’s poll, and that does not happen by accident.  We’d like to sit down and discuss your goals and see if we can make your goals a reality.  It all starts with an idea.  Some ideas are available right now, especially since rates are so low.  Chances are you might qualify for more home for less monthly payment than you have right now.  Other ideas might take some planning, but with expert help we can put your ideas into motion and make that next step a reality much sooner for you.

Curious About Selling?

If you are simply curious about your home’s value. Check out www.SWFLhomevalues.com You can check on your home’s value without having an agent out to your home.  This preliminary step might help get the wheels turning for you.  Of course, Brett and Sande are just a phone call away if you need us.

Good Luck, and Happy Selling!  Call us if you need us 239-489-4042 Ext 4

See last week’s article “Advantage Southwest Florida Sellers as Sales Outpace New Listings”

Advantage Southwest Florida Sellers as Sales Outpace New Listings

Posted on by

For months we have been telling you about strong real estate sales and dwindling inventory.  If our local market were a tennis match, we would say advantage Southwest Florida sellers as buyers are scooping up properties faster than new listings are entering the market.

Advantage Southwest Florida Sellers 7 Day market Watch

In the past 7 days 551 homes went pending in Lee County while only 294 new listing came on the market.  This is a daily trend, and it has been happening for months.

If you are a seller, this is a great time to sell.  You have far less competition from other sellers.  In fact, buyers are no longer in competition with the seller, but rather all the other buyers trying to purchase the same property.

Pricing is still key.  Just because it is a seller’s market does not mean buyers will overpay.  Of course, the bank appraiser will also have a say in it too.  The other way to look at it is this way.  Why would you want to overprice a home and miss one of the greatest opportunities in years?  While we expect the real estate market to do well into the future, you may not have inventory levels this low again.

Advantage Southwest Florida Sellers

Advantage Southwest Florida Sellers Months Supply of Inventory

No matter the market, we always see sellers that miss the market.  When it’s going well, they overprice it and expect the market to catch them.  When it’s on the way down, some sellers chase he market down and never quite get there, so it sits.  If they do have to sell, it can cost them.

We like to sit down with sellers and discuss their options.  We can discuss proper pricing strategies along with how our marketing is reaching out of town buyers.  What do you do when there are layoffs in town?  You go find buyers out of town, and our marketing is doing that.

Targeted Online Real Estate Advertising

For instance, last weekend we ran an online ad.  We had signups from 8 local buyers, and from 35 out of state buyers.  Add that to the 20 open house attendees and we created 63 interested parties in one weekend.  It is no wonder we are close to selling that home at the time this article is written.

Marketing must be geared to where the buyers are, and you need a Realtor who thinks out of the box to reach those buyers.  There are lots of buyers in SW Florida.  You just have to know how to reach them.  There are lots of buyers nationwide.  We know how to reach them.

Brett and Sande have the data to help you make the best decision for your family.  We do not like to under-price a home.  You do not need to in this market.  We can show you how to get Top Dollar.  If you have more buyers and more offers, you have a greater chance at top dollar.

When you overprice your home, you may get little to no offers, and that would be sad.  If you’re wondering what you’re home is worth and just want a quick analysis, you can go to www.SWFLhomevalues.com.  It will tell you instantly what your home is worth and how confident the value is.  You can then call Sande or Brett and we will tell you if we agree.  239-489-4042 Ext 4 

This weekend is Independence Day.  Enjoy this day, and this weekend, and remember those that fought to make this day possible.  It may also be Independence Day for your home.  You may now have enough equity to make the move you have been wanting to make.

Home values have been on the move.  Inventory is low.  Call Brett or Sande and let us see if a move is in the cards for you!

See last week’s article “Real Estate Transaction Dollar Volume Drops 43% in May“

Real Estate Transaction Dollar Volume Drops 43% in May

Posted on by

It is no surprise that real estate transaction dollar volume dropped in May.  May closings were a result of March and April pending sales which were impacted by covid-19 and stay at home orders in Florida.  Going forward, new pending sales have been strong, and top agents are having an exceptionally good year.

Real Estate Transaction Dollar Volume Drops in May

Dollar volume is the number of transactions multiplied by the average sales price.  That number dropped from $569.1 million last year to $326.0 million this year.  That is significant.

One of the things holding down sales is the limited inventory.  The other is travel has been limited during this period from other states.  That is not to say the motivated didn’t find a way to get here and purchase, but it did limit many.  Properties at the lower to mid end have been doing well.  Because of this, it has pulled the median price down .7% and the average price down 6.2%.  I would not say prices are falling though.  Right now, it is more of the mix of properties that are selling that is causing this.

We have seen this pattern before.  When real estate transaction dollar volume drops, it is not long after that agents start looking for the exit door.  These agents do not head directly for the door, they take a detour.  First, they are attracted to low cost brokerages with higher splits and fees based per transaction versus monthly.  It is an attempt to salvage their fledgling real estate career, and it does not work.  They were struggling before the crisis, and the real estate transaction dollar volume drop exacerbates it.

The detour is simply a speed bump to slow down the inevitable.  The exit door is approaching.  Sellers should be leery of listing with an agent who does not have listing transaction experience and has not had recent sales.  One question you might ask is, how long you have been with your current company?  Another would be how have your sales been in the last two months?

If you are considering selling, we have a list of questions you should ask the Realtor you are interviewing before you sign any agreement.  Another tell tale sign is when they agree to cut their commission.  This tells you two things.  Number one, they need a deal badly, and since profit isn’t a predominant factor, survival is, they may not be around by the end of the transaction.  Secondly, if they cannot negotiate their own transaction, how in the world can you trust them to negotiate on your behalf? Lastly, if they say they can do it for less, you must wonder if they’re spending money marketing your home, or just relying on the price and MLS to sell it.  If they don’t do anything for you, why pay them anything?

The whole point of using a Realtor is because they put more money in your pocket at closing than selling By Owner does, and that is a fact.  Realtors spend money, and each has their own value proposition.  If their value proposition is dropping, it means their value to you as a seller is dropping too.

Before you shortchange yourself and hire the least expensive agent you can find, call us, and explore the difference.  If netting more in your pocket at closing is more important than the low fee you pay, we need to talk.  Most people believe the less cost you pay the more money should flow to your pocket, and that makes sense.  The only problem is it is not necessarily true.

Brett and Sande will answer your questions and show you how we are able to get more money for our sellers.  In times like we are in today, experience matters.  Put the experience of Brett and Sande Ellis to work for you.  239-489-40402 Ext 4 or email us Brett@topagent.com or Sande@topagent.com

We’re excited to talk to you!  Good luck and Happy Selling!

See last week’s article “Hurricane Damage Roof Claim Settlement Deadline Approaches”

Ellis Team Open House

Open House Sunday 1-4 PM

14120 Reflection Lakes Dr

New Listing in Reflection Lakes
Open House Sunday 1-4 PM

 

 

Hurricane Damage Roof Claim Settlement Deadline Approaches

Posted on by

SW Florida homeowners need to be aware that the hurricane damage roof claim settlement deadline is approaching for Irma claims September 10, 2020.  We are at the three-year mark for such claims.  You do not need approval of your claim, but your claim does need to be submitted to your insurance company by that date.

Hurricane Damage Roof Claim Settlement Deadline

Hurricane Damage Roof Claim Settlement Deadline

Here is what is so important about this.  Many people had roof damage and do not realize it.  When they go to sell their home, it will come up on a roof inspection.  The seller will be required to make the repairs or put on a new roof if the roof is not repairable.  Many roofs are not repairable because the tile system on their home is not made anymore, or because the percentage of damaged shingles is too significant.  In that case, a new roof may be required.  Many tile roofs cost over $50,000.

If an insurance claim is filed and not closed it would be on record and the new buyer might not be able to obtain insurance.  Choosing a roofer with extensive experience dealing with insurance companies is a must.  The attorney they work with when the insurance company says no the first time is important too.  Filing a claim is a big decision and should be done if you have damage, but you need to be prepared to follow through because the insurance company will not just hand over the money.

There is a lot of disinformation on the streets. You must be careful not to listen to the roofing salesman. We have heard some whoppers and not all of their claims are true.  For instance, the homeowner will have to pay the deductible.  Insurance companies reserve the right and will go back and verify later that the deductible was actually paid.  Some roofers entice homeowners to choose them because they scheme up ways to avoid this and the homeowner thinks they are going to get a free roof.  This is insurance fraud, and it could come back to bite the homeowner.  Yes, the roofing company may be committing fraud too, but when they are out of business it will not matter to the homeowner who also committed fraud. Water restoration is a specialized service that removes water from your home and restores it to a livable, pre-damaged condition. Restoring a home after a water damage emergency must happen quickly. Standing water and moisture create a perfect environment for bacteria and mold growth.

Roof May Determine Sale Ability

The bottom line is if you’re thinking of selling during the remaining useful life of your roof, you should have it checked. If there is damage you may not be able to sell your home with the damage.  You also want to use a reputable roofer who knows what they are doing, It may be possible to sell the home if the damaged work in the claim was repaired.  We can submit that info to new insurance company and coverage can be bound.  We work with some excellent insurance companies. That is the other end of the equation people do not always think about.

If you need the name of some roofers we’ve had good experience with, we would be happy to supply them to you.  Simply call Brett Ellis 239-489-4042 or email Brett@topagent.com and we’ll pass along the information.

New Roof May Increase Home Value

It pays to work with experts in their field.  When you have a home under contract it’s sad to lose the deal over something that could have been prevented. A new roof may help improve the value of your home too. Buyers consider the price of a home combined with all the improvements, upgrades, and maintenance items they’ll have to make.  The more repairs and maintenance items eat into what they will offer for a home, if at all.  Maximizing your bottom line is a consultation between you and your Realtor.  An experienced Realtor can guide you to help you make best decisions.  Mistakenly, some sellers believe hiring the cheapest agent they can find will save them money. In fact, this strategy may cost them thousands.

If you want to save thousands on your next sale, ask Brett or Sande how we can save you money. Besides our experience, we have some programs that save our clients thousands of dollars.  It pays to know what they are. Call us at 239-489-4042 Ext 4 or visit www.SWFLhomevalues.com to find out how much your home is worth.

Have questions?  Brett and Sande are here to help!

See last week’s article “Changing Real Estate Trends We Are Watching“