Category: Orlando Real Estate

Whether you’re a buyer or a seller in the Orlando real estate market, you want to be the one to get the best deal and feel like you came out ahead in the negotiation. That’s human nature and perfectly normal, but how do you accomplish this goal?

I remember when I was studying for my real estate license, the instructor would repeatedly tell us…everything in real estate is negotiable. This is completely true and like snowflakes, every real estate transaction is unique in its own way. It’s normal for both buyer and seller to feel like they got the best of the transaction or at least that they got a fair deal. It’s typical for there to be some back and forth between the parties, some compromises, and even a bit of bluffing involved.

The key is to be in a strong bargaining position that will help you get the best possible deal in a transaction. From our own experience at ORC, there are five major determining factors that will help you win at the negotiating table.

1- Orlando Real Estate Market Conditions-

Usually, we experience a buyer or a seller’s market or even a sluggish market for both buyers and sellers. Of course, the best scenario for a buyer would be to buy in a buyer’s market and for a seller to sell in a seller’s market. Unfortunately, life doesn’t always work out that way.

There are cases where a homeowner living in a more desirable neighborhood could still sell for a decent price as opposed to other less desirable areas. And, if you’re a cash buyer that can close in 3 days, this may also give you some leverage with a seller that needs to sell quickly.

2- Who’s Got The Leverage?

If you’re desperate to sell your house because you can no longer afford it and the buyer knows it-then they will certainly have some leverage over you. However, if you have 4 or 5 buyers sending you multiple offers with each offer higher than the previous one, then you can just sit back and wait until the highest offer with the best terms emerges.

3- Pay Close Attention To The Details.

The sale price of a home is just the tip of the ice burg when it comes to negotiating. Seller concessions can make all the difference for a buyer that’s getting money back for improvements or repairs to the property. If you’re the buyer then this benefits you tremendously because it’s money that’s coming back to you. Of course, if you’re the seller, you would be much better off selling the house as-is and giving up nothing.

4-How Financing Comes Into Play.

To a homeowner, financing can play a huge role in how they view an offer. Buyers that aren’t yet pre-qualified by a lender will most likely not be allowed to submit an offer on a property. At least if a buyer has been pre-qualified by a major lender, they will have a good idea of what loan programs they will qualify for and how much of a loan they can afford. Having an offer from a buyer that has been pre-qualified presents much less of a risk to homeowners than someone who has yet to meet with a lender or mortgage broker.

The best scenario for a homeowner is to find a cash buyer that can close quickly and is not at the mercy of any lender to make the deal happen.

5- Hire An Experienced Orlando Realtor To Represent You.

Whether you’re the buyer or the seller in a real estate transaction, you would be wise to enlist the help of an experienced Orlando real estate agent. Sometimes buyers or sellers may try to buy or sell a home on their own thinking that they can save themselves a few bucks but the reality is that you could end up losing thousands on a transaction, especially if the other party has representation and you don’t.

If you’re looking to buy or sell a home in Orlando, feel free to call us for a free consultation. Over the years we’ve helped thousands of Orlando homeowners and home shoppers to find solutions to their real estate needs.

When you’re trying to sell a house in Orlando, one of the first crucial steps is to set a price. Setting the listing price can almost be considered an art form because you have to find the sweet spot between attracting strong offers and also selling your home for top dollar.

You’ve probably heard the term “fair market value” more than a few times especially if you’re working with an Orlando real estate agent. It’s important to know that fair market value and your listing price will not be the same number.

 Most realtors in Orlando will begin by creating a comparative market analysis on your home aka a CMA. This is a report that’s generated by researching other similar homes in your neighborhood and how much they are selling for as well homes that have sold recently.

 If you happen to be in a desirable Orlando neighborhood like Hunter’s Creek where the homes hold their value, then you’ll have an advantage. Realtors in Hunters Creek report that the average number of days on the market for a typical home in the area is now 47 days or less, which is really good compared to other Orlando neighborhoods.

Overpricing Your Home Can Backfire On You

Depending on your situation, it may be OK to go a little high on your asking price but don’t go overboard or your home could end up staying on the market longer than it should. While you work with your real estate agent in determining the listing price, keep in mind that some upgrades or improvements that you’ve made on your home don’t always translate to increased value.

 While some improvements like a swimming pool, fenced-in yard, or granite countertops can usually justify an increase in the asking price, other more personal improvements like tacky floors and purple ceilings can actually have a negative effect on the valuation of your home.

Leave Your Emotions Out Of It

Even though you absolutely love the hot pink walls in your daughter’s bedroom or the oversized chandelier in the hallway, you should think about what an interested buyer would like and leave yourself out of the equation. 

Working as an Orlando real estate agent since 2004 I can’t tell you how many times I’ve had the displeasure of telling a homeowner that they need to make a few changes to their home so that it would show better. No one likes being told that they have awful taste in colors and other decorative choices but at the end of the day, it’s my job as an Orlando listing agent to get the highest possible price for my client. It’s kind of like when your mom gave you horrible tasting medicine as a kid, “it’s for your own good”.

Generally speaking, the asking or listing price of an Orlando home is set a bit higher than the market value, typically between 1 and 3 percent above market value.

You should take into account that there will be some negotiating involved before reaching an agreement with your buyer. If you price your home too high, you’ll get a lot less interest and it will sit on the market much longer than it should.

Selling Fast Vs. Selling For Top Dollar

Depending on what your situation is, you have to decide whether it’s more important to sell your Orlando home for top dollar or get it sold fast. If the market isn’t doing so well in your neighborhood and you’re not in a rush to sell, you may want to consider staying for a while until the surrounding home values start creeping back up.

Selling As an Orlando Short Sale

If you need to sell your home for just enough to cover the mortgage and it’s worthless, then you may not have the luxury of setting your own price. In this scenario, you may have to consider doing a short sale on your home. This is when you try to get your lender to agree to let you sell your home at a discount on what the total payoff is so that you can get out of a bad situation.

When considering a short sale, it’s highly advisable to hire an Orlando short sale realtor. These are agents that specialize in doing short sales and nothing else. There is a lot more work involved with short sales as opposed to traditional listings and in this case, you don’t want to hire your nephew that just got his license last week.

Whether you need to sell your Orlando home for top dollar or you need to do a short sale, ORC has got you covered. Over the years we’ve helped thousands of Orlando homeowners find real solutions to their real estate needs. Call us at 407-902-7750 or visit https://orlandorealtyconsultants.com/ for a free consultation and I will sit down with you to discuss your options.

If you’re currently selling your Orlando home, you should be aware of the different types of buyers you can expect to be dealing with. An experienced Orlando listing agent can be extremely valuable to you in detecting what buyers are for real and worth negotiating with and which ones are just out to waste your time and stress you out. Buyers will typically fall into one of the following categories listed below.

Dream home buyers

These are buyers that are looking for their dream home with plans of living there for the rest of their lives. These buyers are more concerned with the quality of the schools in the area, the crime rate, and neighborhood amenities rather than the price. Dream home buyers have no problem paying full price but the home must be move-in ready and the neighborhood must meet their family’s needs.

 Fair price buyers

This category of buyers isn’t concerned with finding a home to raise a family because they are either single or married with no kids and may even be retired. With no kids to worry about, they don’t care about good schools or youth sports programs. No… these buyers are just looking for a good deal on a great home. A few minor repairs aren’t usually a deal killer as long as the price makes sense. They won’t pay full price but they will pay a fair price.

Bargain hunters

Bargain hunters are usually investors looking for their next re-hab project to either flip or rent out. If your home is in decent shape and is priced accurately, you probably won’t even be approached by any investors. Bargain hunters typically target fixer-uppers because they know that’s usually where the best deals can be found.

Buyers with contingencies

Sometimes you will encounter a buyer that absolutely loves your house and wants to give you the full asking amount, there’s only one catch… They have to sell their house first before they can afford to buy your house. Your first reaction may be to immediately dismiss this buyer as being a waste of your time, but wait… this may be your buyer.

As an Orlando Realtor, I’ve been able to make several of these deals go through. It’s perfectly fine to accept an offer like this as long as there’s a “kick-out-clause” in the contract. This clause allows the seller to continue to keep the house on the market while the buyer sells theirs. If the seller receives another offer that they would like to accept, they just have to inform the original buyer. Then the original buyer would have a period of time [usually 3 days] to either close on the property or cancel the contract.

Bully Buyers

This type of buyer will find something wrong with your house before they even get out of their car.  They will immediately start picking the house apart by claiming that everything is wrong and needs to be fixed even when it really doesn’t. Bully buyers use this technique with the intention of beating you up on the price and are an absolute nightmare to deal with. My suggestion is to stay clear of this type of buyer, you’ll be glad you did.

Phantom Buyers

Sometimes you may encounter a buyer who claims to live out of state, but they want to buy you house just from seeing the photos. Although this may be true sometimes, it can also mean that the buyer just wants to tie your house up so they can buy some time and look for an exit strategy. Don’t even consider an offer like this unless you’re able to collect a substantial and non-refundable deposit from them.  

As you can see from this article, there are many things to be aware of when dealing with potential buyers for your house. Selling a home will be one of the most important decisions of your lifetime. If you need help or just some friendly advice about buying or selling a home in Orlando, feel free to call me at 407-902-7750. I’m happy to help!

If want to sell your Orlando home fast for top dollar, there are many things to consider before putting it on the market. Working with sellers and buyers as an Orlando real estate agent since 2005, I’ve experienced firsthand what works and what could cost you the sale. These days home shoppers expect to get a good deal no matter what market conditions are. Here is a list of common mistakes made by homeowners when trying to sell their Orlando home

1- I’ll price my home high then lower it gradually until it sells.

I see this mistake all the time with Orlando homes listed on the MLS. For some reason, some homeowners have a tendency to believe that their home is somehow worth more than every other home in the neighborhood and then the price is higher than all the others.

By pricing it higher you’re missing out on buyers looking for homes in the price range where your home should be. The end result is that the home takes much longer to sell and ends up selling at the price that it should have been listed at in the first place… or even lower.

Your Orlando realtor should provide you with a comparative market analysis [CMA]. This is a report that shows you all of the comparable homes in the neighborhood that are for sale or have been sold. Use the CMA to help you determine what price to list your home for.

2- Whoever buys my house can worry about the minor repairs.

Home shoppers are looking for a deal and they will look for any excuse to try to discount the price. Some buyers won’t even submit an offer if the home needs repairs, no matter how minor they may seem to you. Fix anything that needs to be fixed, including the small things that you may think, are no big deal.

3- Curb appeal is no big deal, wait until they see the inside!

Big mistake!…and guess what? Most buyers won’t even bother to go inside your house if it looks run down on the outside. Trim the trees, cut the grass, touch up the paint and plant a few flowers by the entrance. You only get one shot to impress them as they drive up, don’t blow it!

4- I have to do some serious upgrading to get my house sold.

Don’t make any major improvements to your home for the sole purpose of getting it sold. Homeowners sometimes make the mistake of thinking that if they do major upgrades like building a pool or adding a bedroom that they will automatically get a return on their investment. Not true, especially if your house is the only one in the neighborhood with a pool because there won’t be any comparable properties to yours to justify the significant increase in price that you’re looking for.

5- Buyers aren’t swayed by small incentives

What you may consider being no big deal might be a huge deal in the eyes of an interested buyer. Believe it or not, offering something as simple as a 1 year home warranty that only costs a few hundred bucks could be the difference between the buyer submitting an offer or not. Speak to your Orlando real estate agent about what incentives you can offer to sweeten the deal.

6- By not hiring an Orlando real estate agent, I can save money by selling on my own

Selling a home will be one of the biggest decisions of your lifetime. You can lose valuable time and money by not enlisting the help of an experienced real estate agent. Real estate agents will not only take care of marketing your home and reviewing offers, but they will walk you through the home selling process from the beginning all the way to the closing of the transaction.

Most homeowners that start out by trying to sell their home on their own ultimately end up hiring a listing agent after they get little or no results.

7- I want to be there for all showings because no one knows my house better than me

Don’t do this! Let your real estate agent do what you hired them to do…sell your house. Buyers can sometimes feel uncomfortable when the homeowners are present and this prevents them from visualizing the home as if it were theirs. Try making it a point to not be there when your house is being shown. This will allow the potential buyers to move throughout the home freely while envisioning it as their own.

8- It’s my way or the highway!

Don’t approach the sale of your home as if the buyer were your enemy. Remember, the goal here is to get sell your house so be open to some negotiating. Again… let your Orlando realtor do their job by handling the negotiations. Never try negotiating directly with the buyer as emotions and opinions will certainly get in the way of what both of you are trying to accomplish… to sell a house and buy a house.