Category: Orlando Real Estate

Selling your Orlando home can be an exciting time for homeowners depending on the circumstances. If your home is in great shape and you have a good amount of equity in it, it’s probably a joyous occasion for you. Other homeowners may be in need of an Orlando short sale realtor to get their house sold because there’s no equity in the property.

Unfortunately, some sellers start off on the wrong path when putting their houses on the market. We had a client last year that wanted to sell an Orlando home in the Whisper Lakes area. It was a fixer-upper and all it really needed was some paint, carpet, and some minor drywall repairs. For some reason, he thought that the home would fetch a higher price if he turned the 2 car garage into an extra bedroom.

Then against my advice as his Orlando listing agent, he spent an additional $4,000 and did it anyway!  When he finished the remodel it was now a 4 bedroom 2 bath home [unofficially]. You see, he didn’t get the proper permits which meant the home was still a 3 bd 2 bath according to public records, which wasn’t even the real issue here. You see…people with cars like the option of keeping them in a garage. That’s why it’s called a garage!

In the end, this house was very difficult to sell because he eliminated the garage when most people would rather have a garage in the garage, not a bedroom. After several months on the market, we found him a buyer but, here’s the kicker…he had to give the buyer a $3,000 concession so that he could convert the garage bedroom back to a real garage!  So even though he got his money back out of the property, he ended up not making a dime. The good news is that he now listens to the advice of his Orlando realtor.

Here are some of the most common mistakes made by sellers

1. Listing a home before it’s ready. This is a huge mistake and it’s one that I’m guilty of as an Orlando real estate investor when I first started out. The key is to not give the buyers anything to complain about. Every room should look as good as it can including drywall, paint, and carpets. The same goes for the kitchen and bathrooms, I’m not saying to spend a fortune on granite counter tops and solid wood cabinetry, just make sure everything works and looks presentable. Whatever work you plan on doing, make sure it gets done before you put it on the market. Most potential buyers won’t make a second visit if they didn’t like the first one.
2. Making over-improvements. Building a pool, or adding another bedroom can be costly and there’s no guarantee that you’ll get a return on your investment and you probably won’t.
3. Over-pricing your home. Again, this is where your Orlando listing agent earns their money. Allow your listing agent to do their job and provide you with solid comparable properties in the neighborhood that will help you arrive at the correct listing price for your home.
4. Hiring the wrong agent. This is a big one! Make sure that interview at least 2-3 realtors that work in the area. Don’t use your niece because she just got her license last week. Hire an experienced Orlando realtor with a proven track record for selling Orlando homes for top dollar. The agent you hire should be an Orlando listing specialist with all the weapons to get the job done right.
5. Making it personal. Whether it’s your home or an investment property that you’ve poured blood sweat and tears into…keep your emotions out of it. Once you put something up for sale, it becomes a commodity and should be prepared, treated, and priced like one. A potential buyer couldn’t care less about what you “want”, it’s what the market will bear as far as pricing.
6. Covering up problems. Don’t do it! If you know of a problem with the house that you know can become a safety issue or turn into a potentially much bigger problem, you should disclose it. Not only is it the right thing to do, but you can also get sued….even if you’ve already closed on the property.

Sell Your Orlando Home Fast For Top Dollar

As I wrote this article, memories from my past mistakes as an Orlando real estate investor kept popping up in my mind. Avoiding these common mistakes really isn’t that difficult when you seek advice and listen to experienced real estate professionals. It’s something that I wish I had done when I first started in real estate. If you’re looking to sell your home in Orlando, no matter what the price, condition, or situation. Seek the advice of an experienced Orlando realtor. You’ll be glad that you did!

When putting your Orlando home on the market, be sure to research your competition to establish an accurate listing price. Some homeowners are discovering that even if they have a relatively “newer” home, the brand new homes in the area are creating some serious unwanted competition for their pre-owned homes.

The Pointe in Hunters Creek is a perfect example of this. While all the other homes located in Hunters Creek are not exactly old, they are having to compete with brand new homes that haven’t even been built yet. Not only that but with a new home, buyers can choose the model, layout, colors, etc. which is a huge bonus because homeowners won’t have to do a single thing once they move in, except go grocery shopping.

Homeowners in Hunters Creek that were planning to sell and move away are now having to lower their listing price in some cases in order to sell. Sellers that find themselves in this situation would be wise to research what’s going on around them with new homes as well as resale homes before determining a listing price.

It’s just human nature that someone would prefer to live in a brand new home over one that’s been previously lived in. If you had a choice of buying a used car or a brand new car of the same model for exactly the same price, which would you choose? [oooh… and that new car smell!] It’s a no-brainer!

If you find yourself in a situation where you’re competing with newer homes check these tips to help you maximize your possibilities of selling for the highest amount.

Go do a walk of one of the new home models. I should warn you that when you walk through a new home to compare it to your own home, you will either get depressed or motivated. You’ll find that everything looks and smells brand new and the decoration of the home is exquisite. Now go home and see what you can do to make your house look and feel “brand new”. Initially, you may feel overwhelmed and not know where to start,… just relax and keep reading.

Begin by cleaning and de-cluttering. I’ve found that less is more when you want to make a house feel bigger. Next, you should paint the interior, and keep it simple and elegant. I recommend off-white on the walls and bright white on the trim, stay away from dark colors. Finally, change out your floors if needed or shampoo them at the very least. By providing a clean slate, you can allow potential buyers to visualize the house and how they would decorate it.

Find out what incentives the builder is offering. Is the builder offering custom paint choices or a free deck? Now, I don’t recommend offering to paint the house with their custom colors or build them a deck, but you might consider offering a $3,000 allowance for decorating. It’s just another option in lieu of just dropping the price outright.

Don’t blame your Orlando real estate agent!

Think of the Orlando real estate market like any other market. The agents don’t control the price of the homes, the sellers and the buyers do. Even though your home might be the nicest one on the whole block because of all your time and effort, it doesn’t necessarily mean that you’ll see a return on that investment. A house is only worth what a buyer is willing to pay for it. Regardless of upgrades and amenities.

Maximize your curb appeal. See what you can do to make the front of your house look the best that it can. Sometimes it’s just a matter of cutting the grass, trimming the trees, and adding a few flowers with fresh mulch. Many buyers won’t even go in the house if they don’t like the way it looks from the outside.

Give the buyers what they want. Buyers are expecting that clean, new and fresh feeling when they walk in, not the lived-in feeling. If your goal is to sell your Orlando home for the highest price, give the people what they want!

For more helpful advice on how to compete with new homes when you’re selling your home, visit us at https://orlandorealtyconsultants.com/sellers/  or call 407.902.7750 to speak with an Orlando listing specialist.