There are two types of Home sellers in Broward County, FL
6/1/2024
Cecilia La Rosa, Realtor
Cell: 754-273-0265
Type 1:
Sellers who sell their houses sell for more than their asking price.
Type 2:
Sellers who sell their houses for the asking price or less:
I reviewed the history of houses in Broward County, FL that were
listed in April 2024 and closed in May 2024.
I found 256 in total.
I looked for the sellers who sold for more.
See how much more these: 41 sellers sold for more.
Below a few examples:
Listed by Lifestyle Realty.
Offered at $695K. Sold for $740K.
Listed on 04/22/2024.
Closed last week for $45K over asking.
Listed by Better Homes Realty.
Offered at $415K. Sold For 442K
Listed on 04/23/2024.
Closed last week for $27K over asking
Previous owner bought it on 2018 for 280K
Listed by: Lokation
Offered at $480K Sold For $530K
Listed on 04/18/2024.
Closed on 05/21/2024 for $50K above asking.
This house needs work, and the renovation did not discourage the buyer.
Was $480K the right price?
I think so, considering the condition of the house. But who cares what I think, or what the listing agent or seller thinks?
The only thing that matters is what the market thinks.
The market is transparent.
When the market sees value, the market pays for it.
I think $480K was a little underpriced. Which, obviously, was not a problem—it was the solution.
Listed by Canvas Real Estate.
Listed on April 2024, Offered at $749K Sold for $775K in 30 days
$26K over asking.
Listed by Keller Williams. On April 4 for $1,550,000.00
Sold for $1,615,000 on May 24th 2024 . $65K above asking
41 houses listed on April closed in May for $5K to $65K above asking price.
215 houses listed in April closed in May for asking price or less than the asking price.
What Differentiates Sellers?
/ It is the pricing strategy. /
41 houses sold for more than the asking price in 30 days.
215 houses sold at asking or for less in 30 days.
The question is not if you can sell in 30 days.
The question is how much you will sell for.
Was the seller’s price opinion off?
Was the listing agent’s price opinion off?
Was it the market, the marketing, the location, the space?
/ It is the pricing approach /
Would you agree that this is undeniable proof that there is no relationship, between the asking price and the selling price?
There is no risk in underpricing your house and creating competition. A bidding war brings the highest and best offers.
If they can, buyers are happy to overpay, win, and live in their first favorite house instead of their 15th favorite house. At least these 41 buyers did.
What Type of Seller Will You Be?
The 85% that think: “Well, If my neighbor sold for X and he did not have a new__________( you fill in the blank) as I do, and my other neighbor is asking Y.... My house should be worth YY.... So let’s list it for Z and we can always negotiate.”
Those houses will show on emailed blasts under titles like:
Price improvement. - Price adjustment.- Price reduction. -Owner motivated. - Open house,- Welcome offers- Make an offer! Back on the market. Buyer finances fell through.
Or the 15% who understand that the bidding war strategy works in any market.
It benefits both the buyer, who loves your house more than anyone else on Planet Earth and is willing to pay for it.
And you, because you are guaranteed the highest and best offer with that approach.
Closing in 30 days as the above 41 sellers did.
You will also have backup offers in case anything happens with the winner.
If the bidding war strategy works so well, every time,in any market, why do few sellers use it. It's a mystery to me.
As much as we all can see the results and agree and know for a fact, that the bidding war pricing strategy works for the seller's benefit, we still see the majority of reluctant sellers.
They think that if they list their houses under market value, they will get low offers or, worse, feel obligated to accept the first offer that comes along.
/ The asking price is the seller's decision.
Some sellers accept the realtor's advice, some don't /BUYERS:
Think about this:
You prepared for this moment.
You worked diligently to prepare your credit score.
You waited so long to build up your down payment and closing costs, and finally, you got your pre-approval letter.
You are ready to start planning your next birthday party or Thanksgiving dinner in your new house.
Your desire to own and build equity for your next generation is stronger than onions.
Keep this in mind every time you go out to see properties;
Your favorite house is everybody else’s favorite house.
You will always have fierce competition.
You will overpay for your favorite house and be ecstatic, over the moon happy,
that you stopped the rental bleeding. It will be like you won the lottery lucky. And you did. For your family.
Just like many other homeowners who are proud and grateful, they bought when they did, winning an electrifying bidding war.
Because now they are living in their favorite house, not in their 15th favorite house.
They are free from worrying about a landlord raising the rent or deciding to sell.
The landlord is history. We are grateful for the landlords, or relatives who gave us shelter.
But now they own the land and they can plant whatever they want on it.
Plus, with every improvement, they built enduring equity for their love ones.
You can always pay less too.
85 % of the Overpriced houses show you how much less you can pay.
I am talking about your very favorite house, the 15% of houses that are underpriced on purpose to create multiple offers.
If you know what is happening, you will know what to do.
Ps: During the same time, 216 Houses in Broward County FL were listed and canceled 30 days later.
I guess my title should read: there are 3 types of sellers...
The ones who sell for more
The ones who sell for less
and the one who change their minds in 30 days or less and canceled their listing.
If you ever have a question call me. I am happy to help.
Have a blessed day
Cell: 754-273-0265
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