Southwest Florida Market Forces Sellers to Change Their Approach

As Florida home sales have slowed, those looking to move or upgrade their current house are having a hard time selling. Consequently, real estate agents are doing what they can to get sales soaring again.

Last year, sellers had 4 or 5 buyers for every home - now they’re fortunate to get just one. Many real estate agents don’t see the odds changing anytime soon, so they are changing their selling approach.

Realtors have always relied on brochures and signs in the yard to sell homes, but now with the market changing, their tactics are going to have to change as well.

“It used to be that the buyer would come to you, now you’ve got to bring your property to the buyer,” said Realtor Brett Ellis of RE/MAX.

Among the ways in which real estate agents are marketing properties are:

• Making videos
• Launching websites
• Placing ads in newspapers

All the marketing, of course, costs a lot of money.

“We are spending, just the Ellis Team alone, between $60,000 and $70,000 a month,” said Ellis.

Many local real estate agents who don’t use techniques similar to the Ellis Team’s are reporting a 25 to 60 percent drop in sales from this time last year to now. For this reason, it’s the perfect time to seek out a Florida home loan in the area. Buyers will have a chance to receive vastly reduced prices.

Is there hope for sellers in the Southwest Florida housing market? Definitely. Recent reports state that nationwide home sales have taken off, a sign that the downswing will soon come to an end.