Thinking of Selling?

Some of our early Florida Brits members have had reason to consider selling in recent years due to illness, advancing years, bereavement, changing financial situations or just to move on to some new experience in another part of Florida or the World.

Over the last seven years we have become more and more involved in helping these members to dispose of their properties.

At the same time, due to the Club's reputation in the media, we receive many enquiries from would-be owners in Florida asking us to help them to find suitable homes. We are delighted to be able to help them make a 'wise choice' in their purchase.

Working in association with reliable, reputable Licensed Realtors 'on the ground' in the various areas of Florida popular with the British , Florida Brits Realty have been able to very satisfactorily help our sellers to sell their properties and also to help a lot of new owners to acquire their own Florida dream homes who then, in turn, become FBC members!

PRICED TO SELL

So how do you go about selling if or when you want to?

Firstly, you need the services of a Real Estate Broker who is ACTIVE, AGGRESSIVE AND KNOWS THE MARKET WELL. They should be able to provide you with a Comparative Market Analysis of what is selling in your area and what your property would be worth on todays' market. The agent should advise you how to price your property TO SELL .The worst thing that can happen is that you price it too high and it will just sit on the market for months!

The way in which the U.S. property market works is that the appointed Realtor will 'list' your property onto the "Multiple Listing Service" (MLS) which is a computerised system allowing Agents from all over Florida to access the information on properties currently available on the market. This will enable any other Agent, who subscribes to the MLS system, to be able to 'show' potential buyers your property by arrangement with your Realtor's office.

The system is extremely sophisticated and efficient and means that your property will be brought to the attention of hundreds of potential buyers through the eyes of many agents who constantly scan the system trying to match their potential buyers with currently available properties.

However, Agents will just NOT show an overpriced house - they just don't want to waste their time and know that the buyer will only make an offer based upon the market value anyway! They fear that the owner will not accept the offer and they could possibly lose a buyer since they will only be disappointed in not getting the house. The other danger is that the Agent will only show the over-priced property as a comparative sales tool to sell a lower priced home which is closer to market value!

It is NOT a good idea to get your management company to try to sell your home. They stand to lose management fees, commissions on bookings and other profits from services etc. so why should they put much effort into selling it? However, it is most important that the Realtor should have access to the property, by prior arrangement with management, to show it on your behalf at all reasonable times.

WHAT IS THE COST?

How much does it cost to sell a home in Florida?

Unlike the UK real estate market almost every property sale through the MLS system may involve TWO agents - the Listing Agent and the Selling Agent.

This is why the standard Real Estate Agency fee is normally 7% of the selling price. The Agents pay all of their own costs including advertising, multiple listing, office expenses, franchise fee etc. and split the percentage of commission between the listing and selling agents. Only in the very rare event of a sale being made by the listing agent does the whole 7% fee (less all expenses) go to one person!

On a sale of property at, say, $100,000 the total costs of selling would be around $8,500 which would include Agents fees, legal fees, documentary stamps on the deed and recording of the pay-off of the mortgage balance (if there is one).

The owner has to provide the new buyer with 'Good Title' to the property. The Title Company, which prepares the documents of sale at closing and writes the Title Insurance policy, will also prepare all the papers to get the pay-off figures from the mortgage company and will handle all monetary transactions between buyer and seller at Closing. This really eliminates the need for an Attorney.

Here again, it is very important that the appointed Agent who represents you, the seller, is familar with the closing process, follows through with the buyer's mortgage company and the buyer's agent to ensure that the sale goes through. Many sales are lost each year through lack of follow-up. You need a Realtor who will 'hang onto' the deal for you!

CHOOSING A REALTOR

"How do I find a good Realtor?"

There are many Real Estate Agents eager to take your property onto their books so how do you make a choice? Should you shop around for the lowest rate or just take the first one who solicits your business?

Usually by recommendation from a satisfied client or other professional. That's how we have found our Realtor associates over the years.

"How negotiable is the Realtors selling fee?"

You may find an agent who will discount the fee a half of one percent or so but this also shows up on the MLS records and a Selling Agent looking for a property for his buyer client may pass over properties which are listed at lower rates in favour of others which show a full fee available.

If you want to get ACTIVE marketing of your property you will find the full selling fee to be a better investment in the final outcome. It will provide better returns!

ON THE BUYING SIDE

Our Broker or Realtor will represent you as a "Buyers Broker", at no additional cost to you, to work with you in YOUR best interests to find the best property, new or resale, and the best deal for YOU. Not just the best deal for the builder or the seller!

We will be delighted to help anyone to sell or to buy new property anywhere in Florida. Just contact us.