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Win a Signed Stamkos Jersey & How to Handle Pre-Listing Offers

We at the Duncan Duo are proud to announce that out of over 110,000 RE/MAX real estate agents, we’ve been named No.1 in the country. This is a great honor that we couldn’t have done without our partners, providers, and you—the customers.

But, today what I’d really like to talk about is what to do if you get an offer on your house before it’s even on the market.

As crazy as this sounds, it can happen. If you’ve listed your home for sale with a broker and the broker has a database of buyers or they’ve done some sort of pre-marketing on your home, this can create pent-up demand.

This is something we, personally, do for our clients. We pre-market using Zillow and also by reaching out to our database. The reason behind this is that when a home garners pent-up demand it will be in a stronger position once it does hit the market.

In cases like these, the energy and demand for a home shows up immediately. So, what should you do if your home gets an offer before it’s on the market?

Simply put, you should do what you think is best. Accepting an offer is always the seller’s choice. You can listen to advice from your broker, attorney, and even your friends. But the decision is ultimately up to you.

This kind of situation may not be right for everyone, but there could potentially be a circumstance where a buyer is willing to pay a premium because they want to avoid your home being shown to anyone else.

When a home garners pent-up demand it will be in a stronger position once it does hit the market.

Someone giving you an offer before your home is on the market could also lead to a quick and painless cash sale, which would allow you to move on and not deal with the stress and inconvenience of listing your home.

What to do in this situation largely depends on your financial situation. Weigh the offers when deciding what to do to come to the best decision.

It’s no secret that top agents like us at the Duncan Duo know how to generate this kind of early attention and energy around a house. Your choice is what to do next.

A lot of the time, it can actually be beneficial to put the home on the market because it generates competition around the terms and price.

This is why making a decision about when to accept an offer should be based on your unique needs. Every circumstance is different. There are even programs out there, like the one we have at our company, that will buy your home instantly.

We offer these kind of solutions because we want you to be covered and to be able to make the best real estate decision possible.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

What Is Happening in Sarasota's Market?

Recently I sat down with Michael Barbino, the leader of our Sarasota office, to talk about what’s going on in our local market right now.

The Sarasota market is still a seller’s market, however, the inventory problem isn’t quite as low as it is in Tampa. Although Sarasota has less than six months of inventory, it does have more than double the inventory in Tampa.

But, demand varies between price points. Michael told me about a listing he had under $200,000 that gained multiple offers within just a day. Even with slightly higher inventory, we’re still seeing bidding wars.

Snowbirds have left, which has contributed to the raised inventory, but families right now are still looking for homes before their kids go back to school.

However, despite some of the changes associated with the summer market, we are continuing to see prices rise. Manatee, for example, is at $299,000 compared to the $270,000 it was at 18 months ago.

Sarasota is still definitely a seller’s market.

Within that same time frame, Sarasota’s prices have gone from $200,000 to $260,000. In Sarasota especially, new construction has been driving a lot of home sales. In fact, Lakewood Ranch is the third busiest in the nation.

Additionally, if you want to see these stats yourself, you can find them here.

Overall, we’re seeing a very healthy market. One great thing in particular is that we’re seeing more and more financed transactions than we have in past years. With Fannie Mae having changed the DTI especially, the market is definitely solid.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

How Can You Reignite Your Home Sale?

What can you as a seller do if your home isn’t selling or getting any activity?

We’re in a really hot market right now with a lot of showings, offers, and bidding war situations in multiple price points. What’s happened over the last few years is the number of showings that happen to a house before an offer had reduced dramatically.

Why is this? The Internet. People would rather use their smartphones, tablets, and other similar technology to learn all the information they possibly can about a home rather than see it in person.

So, sometimes when your home isn’t getting any showings, that’s not necessarily a bad thing. This is when you must ask your agent, “What does the traffic look like online?” Nowadays, if your online photos and videos are done right, they basically act as showings. The actual showings are simply second showings where buyers validate information they’ve already learned online.

When you ask your agent what the traffic looks like online, they should be able to tell you the number of page views on some of the major portals like Zillow and Realtor.com. Our company pays for the advanced version of those websites so we can give you more data and information. In many instances, we automate that data and information and sent it to you via email so you can track it from week to week. Remember, don’t just track showings—track activity. If you don’t know what that activity is, the top real estate agents—just like the ones at The Duncan Duo—know how to interpret that data and give you the right advice.

Don’t just track showings—track activity.

That advice can vary from situation to situation. You might need a price adjustment, more marketing, or an adjustment of your marketing strategy. The definition of insanity is doing the same thing over and over again and expecting a different result. If you’re not getting activity, you need to change your strategy. You might even have to hire a different agent if your contract allows you to.

Most of the time, though, price is the determining factor. I’m a firm believer that if you lower the price of your home, you’ll get more activity. You’ll generate more online activity, and it might be enough to nudge that buyer who’s been thinking about buying your house over the fence.

Your other options include staging. If you’re selling a vacant home, you might have to stage it to help buyers see the home’s potential. You should also consider changing your photos. If they were taken during dreary weather, they might need to be edited and brightened. Or you can just take new photos on a sunny day.

Last but not least, you need to make sure the agent you’re working with is utilizing every possible marketing avenue. You also need to trust that agent. It’s very likely they know more about real estate than you do. If they tell you something, trust their advice and know that experience is on their side.

If you have any questions on how to get more activity for your listing, please feel free to reach out to us. We’d be happy to help you.