How To Sell A House In Largo, FL

July 10, 2017 by The727Team

Success is where preparation and opportunity meet…

This in-depth guide will show you how to sell a house in Largo, FL.  We’ll dive into pricing tactics, innovative marketing strategies, choosing the best realtor, and even how to list it as a for sale by owner. When you’re wondering what your house might be worth in the Largo Real Estate Market, Call Ryan at 727-777-3797 or you can use our tool to get your Instant Home Value.  It only takes a few seconds and you’ll get an email right away. Once you get your estimate, we will follow up to answer any questions.

Selling A House In Largo, FL

Understanding The Largo Real Estate Market

The market is continuing to shift and it’s important to understand your competition before placing a value on your home.  The best way to do it is to approach your research like an appraiser. Appraisers have different methods they use to analyze the value of a home, but the most common method is the sales comparison approach.  Appraisers will typically try to look for comparable properties that have sold within the past 90 days. They usually start with your neighborhood and work their way out until they have the data they need to support an estimate on market value.  Some owners decide to get their home professionally pre-appraised before putting it on the market giving their listing price more support.
While the average single family home in Largo is selling for around $244,000, this will vary drastically by the neighborhood and location. If you need specific stats on a particular area, just let us know!

Choosing The Best Realtor

The best realtor is not a one size fits all.  This is someone or a team of people you may choose to work with that can have a major impact on your success as a seller.  A good start is to look into the reviews of real estate professionals and see what people say about their experience.  The best realtors accomplish your goals and exceed your expectations.  What is their advantage? How are they different from other agents, and what are they going to do to get your home in front of a lot of qualified prospective buyers?

Some of the best real estate agents are using technology such as high definition video tours, social media marketing, search engine optimization and more to make their listings come first.

You want to make sure the person you are hiring is a professional.  The best way to do this is to interview multiple agents!

Beware of Discount realtors as you will often get what you pay for.  If they are so eager to discount themselves, what do you think that will mean for the sell of your property when it comes to work ethic, marketing tactics, and negotiating on your behalf?

Pricing Strategies

The correct price is the one the market is willing to pay.  With all things considered, data is your best friend.  Your realtor will be able to provide you a comparable market analysis after seeing your home and studying the competition.  If you interview multiple agents, don’t fall into the trap of selecting the agent solely based off pricing your home the highest. This is a tactic that often ends up keeping the home for a longer time on the market and the seller getting less in the end through price reductions due to little activity.

It’s also easy to want to price your home using the number 9.  What do I mean? So you decide to price your home at $249,900.  It’s only natural to think this is the most effective strategy as it’s a common retail tactic.  The difference is, you are not selling a shoe, you are selling a home and by doing this you could be missing out on a lot of eyeballs.

Price Your Home Right

Most people whether they are working with a realtor yet or not are starting their home search online.  A lot of the websites and portals use $5000 increments.  So if a group of people are looking for homes from $200,000 – $250,000 in Largo they will see your home.  But another group of people that are looking for homes from $250,000 – $300,000 in Largo will miss your home by $100 if you price it at $249,900

That’s a huge sacrifice… and something your realtor should be educating you on before you make a final decision.

Marketing To The Masses

When you hire a professional, it’s important for you to hold them accountable.  There should always be a direct line of communication of what they are doing for you.  Your realtor should be on your team and it’s to their advantage to get you the best price they can and exceed your expectations.

Real Estate Videography Works

If your agent isn’t using video, they are behind the times.  If your agent isn’t doing professional photography, you’re getting ripped off.  If this agent or team doesn’t have a strong presence on the internet, that’s a bad sign for your home.  A clear plan of action that is taking advantage of the various marketing methods both online an offline will make for a better experience for all parties involved.

How Do I Increase My Home Value?

While this list isn’t a guarantee it will increase your home value, it will make your home stand out better compared to other listings on the market and recent sales. If you put some additional love into your home, you can help create more excitement and buzz which could result in potential higher offers or even a multiple offer situation.

  • Get your home professionally cleaned
  • Take care of repairs ahead of time
  • Do some painting, and look for modern trends or what we like to call “selling” colors
  • Eliminate smells from pets, or anything else that might turn buyers off
  • Make showings easier – (It helps if the home is vacant, but if you still need to live there, try to be as flexible with your schedule as possible)
  • Offer a Home Warranty
  • Look into getting your home professionally staged
  • Minimize the clutter in your home, the more they can see, usually the more comfortable buyers will feel to submit an offer
  • Use the best real estate team in the area – aka The 727 Real Estate Team

What Are The Costs Involved In Selling A Home In Largo, FL?

These costs will vary based upon the price of your home, the title fees, taxes, type of contract used, seller concessions, agent commissions, and more!  If you hire a professional, they can get you a seller net sheet made that will help break down theses costs and give you a projection on what you stand to walk away with at various price points.

How Much Is The Real Estate Commission When Selling A House?

All commissions are negotiable!  Typically in the state of Florida, the seller will usually negotiate a commission that is a percentage of the selling price with the listing agent.  That agent will take part of that commission and offer either a percentage amount or a flat fee to an agent that brings a buyer.

For example, let’s say a 6% commission is negotiated on the listing agreement with a realtor.  On the paperwork, the agent will present what they are offering to the agent on the buying side.  Sometimes the listing agent brings the buyer as well and there may be certain terms in the contract that state how that works.

It’s up to the seller and agent to come to an agreement and it’s important to understand that that agent is typically netting a lot less after expenses. Before you think your agent is getting rich off the deal, the average real estate agent in Florida makes less than $36,000 a year.  If they accept a 6% commission, offer 3% to the buying side, of that 3%, a portion will go to their real estate brokerage, another portion will be accountable for the agent’s taxes, as well as all the other marketing costs, fees, licenses, insurances, signs, gas and more.

If that agent is discounting themselves, you have to wonder what services they are cutting in order to take that listing.  Those cut services can have a direct impact on how much a home sales for.

How To Sell Your House By Owner

People that decide to sell their homes without a real estate professional are known as “For Sale By Owners” or “FSBOs” for short.  Usually the only reason a person decides to sell their home by owner is to save money.

By trying to save on commission, a person who is unfamiliar with the process and ever-changing laws and disclosures could find themselves facing serious legal ramifications.

Besides that, their original objective usually does not work.  We always encourage people that decide to try For Sale By Owner to consider the liabilities first.  By electing to sale by owner, you are cutting your property off to a large percentage of the market.

The vast majority of buyers are represented by realtors, and those realtors are directing them to houses where they know they’ll be working with another professional and they are guaranteed to get paid.

With For Sale By Owners, they know nothing about whether they will get paid, and even if the FSBO offers a buyer’s agent commission, the buyer’s agent usually finds themselves doing twice the work cooperating with someone that is not a licensed agent.

Many For Sale By Owners become extremely frustrated because they may see activity on their property, but in reality they are usually letting unqualified strangers into their homes known as “lookee loos” and putting their safety at risk.

If the sellers don’t get a professional opinion on price, they could be way off either leaving money on the table or pricing too high where they will have to continue to do price reductions.

Usually the longer a property is on the market, the more people perceive something is wrong with the house.

There are 100s of reasons we can list as to why selling by owner is a bad idea, but if you do decide to go it alone, here’s some tips that can help.

You will need to connect with a title company or attorney to access seller documents and buyer packages in order to legally sell the home yourself. Before you decide to do this, give us a call at 727.777.3797 and we can discuss your options.

Remember, an attorney or title company is not a realtor, unless they are licensed.  You will be doing all the marketing, showings, and legwork yourselves.

For marketing, you’ll want to put up signs, get yourself on as many online platforms as possible, get professional pictures and video, and establish some safe practices for allowing access to your home.

You’ll also want to establish a time-frame of how long you wish to try it yourself before you hire professionals like us.

I Want To Sell My House

Perfect! The 727 Real Estate Team is licensed with Remax Realty Unlimited and services Pinellas, Hillsborough, Pasco, and Manatee County.  We also have real estate partners in every city in the nation, and yes even the world.  We’d be happy to be of service to you and help you through this process. Contact us first:  the727team@gmail.com, or  #727-777-3797 (by phone or text).


 

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Here’s The Competition In Largo, FL

 

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(all data current as of 1/20/2019)

Listing information deemed reliable but not guaranteed. Read full disclaimer.