I would not buy a house in Florida.

I would not buy a house in Florida without first consulting with, and then using, the services of a real estate agent. Why is it important to take advantage of the skill and professionalism of a full-time agent when buying a house in Florida, especially now?

There are several reasons and they all involve money. Let's look at a few of those reasons.

• The excessive home inventory, in nearly every Florida market, require the assistance of an agent to help sift through all the available homes for sale to find those that match your desired criteria. This will save you time, and time is money.
• Price comparison. Let's say you are interested in a home in a certain neighborhood. Before making an offer on the home, you might want to know what the sales price of similar homes, in and around the area, have been. Your real estate agent can find out what comparable homes in the neighborhood are listed for, and what some homes sold for. They will also be able to tell you if there are short sale situations or bank-owned homes for sale which, when sold, could drastically lower the future value of the home you are interested in.
• Mortgage Information. The mortgage industry is experiencing issues of its own as a result of the current real estate market. Your agent can introduce you to trusted sources in the lending industry which will allow you to compare available programs in order to find the best rate, down payment, closing costs and loan terms.

If you are going to buy a home, having a real estate agent assisting you through every step is an advantage that you should not pass up.

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- Greg Staker, Watson Realty Corp. 407-304-0255

Agents and bears hibernate.

hibernate: To be in a dormant, resting state

Today I contacted agents who I have not seen over the past month. Their absence of course mirrors their non-existent business. I understand the market is challenging and feel for agents who are genuinely trying to further their careers or are taking advantage of the down time in order to gain the training and education they need to increase their chances for success in the future.

One agent today though caught me off guard. The conversation went something like this:

Me: Hi, I hope you have been well. I would like to invite you to tomorrow's sales meeting and maybe we can spend a few moments discussing an activity plan?

Agent: I hope I can stay active with your office. I have a few people thinking about buying sometime in the future. I am not ready to jump back into real estate full time.

Me: Well it might be good to take advantage of some of oour ongoing training until things pick up for you. When do you anticipate coming back to the office on a regular basis.

Agent: Maybe in a year or two.

I released the agent today.


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- Greg Staker Watson Realty Corp. 407-304-0255

Success school revisted by experienced agents

Some of our experienced associates have already re-attended our new Success School and were pleased with the results. One day a week in class does not interrupt an associate’s on-going schedules and it gives the structure needed to find momentum and success in this market.

Its all about prospecting….it requires a commitment of 7 weeks of heavy prospecting!! If associates are serious about their future in real estate, this is a vehicle which will give them the push they need.

If your real estate career is stalled, contact me to discuss getting your career back on track.


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- Greg Staker Watson Realty Corp. 407-304-0255

88% of homeowners use a Realtor to sell their home according to NAR

Jessica Lautz a Senior Research Analyst noted in a commentary for NAR that in 2007 12% of home sellers did so without an agent. This is down from 18% in 1997.

Given the ongoing market conditions it would seem reasonable that more owners will use a Realtor to help them sell their home in the coming months.


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- Greg Staker - Watson Realty Corp. - 407-304-0255

Real estate agent costs rise as income dwindles

Individual real estate agents and real estate companies are finding themselves caught between a rock and a hard place as they attempt to do their jobs in the current market.

With the average days a home is on the market increasing, agents are finding themselves spending more and more of their own money promoting and marketing these homes with no sale date in site. This problem is compounded by the rising foreclosure and short sales or when a home is incorrectly priced and the seller refuses to adjust or the agent fails to regularly update the seller of the changes in the market as it relates to the seller’s home.

The cost of materials and time to prepare multi-colored flyers and promotional pieces, the cost to send out marketing pieces through bulk and first class mail, the cost to maintain a staff of assistants and receptionists to handle incoming sales calls and inquiries, the cost of gas prices to drive potential customers to the property, the cost to maintain equipment to keep up with the increase of activity, the cost of for sale signs and sign riders, the cost of print advertisement to promote the agent or office listings and the cost of maintaining an internet presence to promote the listings continues on regardless of the dwindling sales.

These ongoing costs coupled with very little profit will continue to force agents and real estate companies out of business as time goes on. Those agents and companies that survive will do so by making the adjustments needed now and refining their business model to adapt to the current conditions.

Reducing business overhead that does not directly affect the customer, reducing or eliminating ineffective marketing and striving to continually educate the seller on proper pricing and price enhancements are the steps being taken now by those agents and companies who will remain strong regardless of the market.


Related Florida real estate views:

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- Greg Staker - Watson Realty Corp. - 407-304-0255