How Do You Get the Best Deal in Sun Coast Real Estate?

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation 

Today, I’ll go over the number one step for the best real estate negotiation. This might seem obvious, but you need to hire a proven real estate agent.  When I say proven, I mean experienced. Experience doesn’t necessarily have anything to do with how long someone has been in the real estate industry. Experience is directly related to how many transactions an agent has done.

The average agent only sells 6 to 8 properties per year. That means they are only doing one deal every two months. I don’t know anybody who can be an expert at anything they only do once every 2 months.

As you might know from some of our previous videos, my team has been doing some recruiting. Some of the newer agents from bigger companies that we’ve talked to say that they’re being trained in time management or organizational skills, but not on how to put together a winning offer. Inventory is tight in our area right now, and it’s not so easy to get a buyer into a property. The ability to put together a winning offer is crucial, and these agents don’t know how to do it.

Another thing you should keep in mind is that 87% of all real estate agents fail in the first five years. That means only 13% of new agents will be successful. If you’re hiring an agent from one of these big companies, how do you know that you’re not getting one of these agents who won’t be able to get the best deal for you? How do you know you’re not getting an agent who is struggling and will quit in the next couple years?

You need to Google real estate agents before hiring them. Find their Zillow or Trulia reviews. Past customer experiences will show you how experienced these agents are. You will also want to know what their list-to-sales price ratio is. As a buyer, you want this number to be lower, because the agent will be able to negotiate the price down. As a seller, you want it to be higher so that you will net more money.

Don’t let this discourage you into selling your home yourself. For Sale By Owner properties sell for 15% less than properties that sell with an agent. You might think you’re saving money by avoiding the commission, but you will actually lose more money. If you're a buyer, don’t just call the listing agent. The listing agent is there to protect the seller’s interest.

Whether you’re buying or selling, you need a proven agent on your side. If you have any questions, give me a call or send me an email. I would be happy to help you!

The Secret to Getting Top Dollar for Your Rental Property

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation 

I sell a lot of rental property for a lot of investors, and a lot of these investors are people who didn't initially want to be investors -- they either got stuck with a home they ended renting out or they inherited a property and don't necessarily want to have a tenant.

If you have a single-family rental property that you've had for some time and are ready to get rid of, we have some advice. If you're looking to sell your single-family rental, there is no motivation for the tenant to help get the home sold, so it's best to get them out of the house before you list it.

Renters have zero skin in the game, so they likely won't cooperate the way you would need them to in order to have a successful sale. They will not stage the home the way it needs to be staged, they will not leave the home when buyers arrive for showings, and the tenants will often exaggerate about the issues they have with the home when buyers are present. There are also times where the closing process is delayed because tenants don't move out on time, which serves to add time and stress to the whole process. Bottom line: If you want to get the best results when selling your rental property, get the tenants out of the home!

Next, let's talk about multi-unit homes. If you find yourself in a situation where you have an empty unit, whether it's a duplex or a triplex, the best thing to do is not always to get it occupied right away. I like to allow another investor or buyer to see that particular unit so you don't have to disturb your other tenants. If the investor wants to pursue it further and can verify that they're well-qualified, we can then disturb the other tenants and show the empty unit.

If you have an occupied property, make sure you're maximizing the rents. So many people have tenants in every unit, but they aren't getting the most out of the rental. If you're setting rents below market value, it's going to lower the market value of your property! Investors are going to look at that and will pay you accordingly.

If you have any questions about selling your rental property, or if you would like some advice on how to maximize your rental profits, please don't hesitate to reach out to me. I would love to hear from you!