How to find the best realtor to market a condo in Venice, FL?

Asked by Vicki C, FTW, TX Wed Sep 12, 2007

My daughter and son in law live in Venice in condo he bought about 5 years ago before they married. It is in older building 1/1 but has had new plumbing/new floors. They want to sell and buy home in area---what is best way to find the right realtor--someone who sells and has clients interested in this type of unit...It is great for older couple (who are mainly other owners in compex) or for rental type unit...complex has strict HOA, very safe, just across Esplanade from beach...but market is so slow they know it could sit for a year w/o real action...They need to maximize their price as well...they know he bought probably right at top of market and just can't afford to take loss...What is best way to find right agent to market this condo? What questions do they ask?Any possiblity of getting lower commission if agent gets to sell the new house?

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18
Mary Smedley, , Saint Pete Beach, FL
Wed Sep 12, 2007
The best way to choose an agent is calling an expert in your area. You can also contact a real estate company of your choosing and ask to speak to someone who specializes in the Venice area. Once you talk to the agent, ask them questions to assure that you are dealing with a professional career realtor interested in selling your home and is dedicated to superior customer service. In this market it takes great skill in dealing with Listings,pricing them right, marketing and negotiating offers in your best interest. I hope this helps! Best regards, Mary Smedley
2 votes
Betsie Taber, Agent, Lakewood Ranch, FL
Wed May 14, 2008
Hi Viccki,

With regard to your last question, I would definitely think twice before looking for a commission cut. In those days and ages, I would in fact offer a higher commission to get agents interested in showing the property. The more agents show the property, the more likely one of them will know someone who might be interested in it. That's the name of the game. Trying to lower the commission will only hinder the prospect of a quick sale close to asking price.
1 vote
Betsie Taber, Agent, Lakewood Ranch, FL
Wed May 14, 2008
I would suggest that they interview as many agents as possible. Don't go for the big names only as they sometimes don't have the time, energy and/or staff to look after all the properties that they have listed. One suggestion I have is for them to go to open condos and see how the agent works. You will notice that there are some agents who are really well prepared and who try to help the customers and some who just wait for things to happen. Who would you rather have? Go to the agents websites and see whether there are any testimonials from former clients. Finally, look at all those letters behind their names. You will find that serious realtors believe in education and most of them earn specific designations that enhance their knowledge and expertise. Finding the right realtor is the most critical aspect of selling or buying a property.
1 vote
Xena Vallone, Agent, Bradenton, FL
Wed Sep 12, 2007
Anteaus is so right about selling the condo. I have another suggestion as you have indicated they are not able to sell for a loss & purchased at the top of their game. Is it possible they could lease out their property for a couple of years & wait out the market, while they rent another home until the market changes. This may help them financially down the road. When speaking to Realtors, you may also want to ask about rental possibilities with them. Good luck
1 vote
Antaeus Bale…, Agent, Lakewood Ranch, FL
Wed Sep 12, 2007
I am not an expert on Venice, but I have sold and listed homes there. The problem with selling a condo in Venice, is that there are so many of them already on the market. In my opinion, in the current market, price and location will ultimately be the determining factor in someone purchasing a condo. The first thing to do then, is to price it right. Make sure you get at least three Comparative Market Analysis from three different realtors.
You should look for a Realtor that has experience in the Venice market, preferably one who also has listed and sold condo’s there. There is no set commission rate, so feel free to ask. It has been my experience, that in this market, all things being equal, homes that are offering incentives to buyers usually sell first, so consider that option also. Some questions to ask a potential agent would be: How long have you been selling real estate? How much experience do you have in the Venice market? What will your marketing plan for the condo be (get it in writing)? Do you have a list of past buyers and sellers I can contact? What type of certifications do you have? That should give you a general idea of what to ask, and some options on what to do. Good luck!
1 vote
Vicki C, , FTW, TX
Wed Sep 12, 2007
I don't belive so much in listings--I believe in sales--how many condo listings did someone sell in last year--that is what I would want to know...
1 vote
Diane Glander, Agent, Spring Lake, NJ
Wed Sep 12, 2007
Take a look at the local advertising. You may find a Realtor who specializes in condominium sales. Make sure whoever you find works full time and gives you a marketing plan ahead of time. Most importanty, you must actually like the person you hire.
Here's the catch: You need to decide which is more important, price or time. As a seller, you cannot have both. If time is of the essence, you need to sell at a price that correlates with your selling timeframe. Be under the competition for the quickest selling time. So, if price is your motivation and you want to maximize your price, you will have to expect it to sit on the market for a longer time period, hoping that someone will come in and pay your price. Knowing they bought at the top of the market, they will have a hard time even getting what they paid for it. A local realtor can tell you how much your particular market has declined. Hopefully they didn't mortgage 100%.
As far as the commission goes, all commissions are negotiable. Most agents work with sellers as buyers, so that really isn't much of an incentive. Find out what the listing agent will do for you at the commission they will charge.
Web Reference:  http://www.dianeglander.com
1 vote
David B. Lev…, , Longboat Key, FL
Sun Mar 8, 2009
vicki, not so much finding the best agent, find a person you can trust and that person could be in real estate 1 yr. or 20 yrs. find a person who you fell confortable with. do you go to the best restaurant in town even though you do not like it or do you go to the restaurant in town, you like because the food is good, service is friendly, and you know what to expect.
interview people and talk to friends and see who they have used before and compare.
This is my advice
David Leventhal
0 votes
Bill Eckler, Agent, Venice, FL
Sun May 11, 2008
Vickki,
If you are still wrestling with the sale of your property, we would be happy to meet with you and share oue marketing plan.
The "Eckler Team"
Century 21 Almar and associates
Venice, Fl 34285
ecklerteam@comcast.net
0 votes
Diane Fuchs, Agent, Venice, FL
Wed Oct 31, 2007
My first suggestion would be to have them interview several agents. It should be a job interview. You are hiring someone to work for you so you should of course interview them and see who has the experience, education and most effective marketing plan. Secondly commissions are always negotiable, however don't be so quick to take the cheapest. Remember you get what you pay for. If you want a discount price then you'll get discounted service. Last but not least, relax and take your time, they will know when they have met the right agent. Remember you are the one doing the hiring and you have the right to fire them if you are not satisfied with the service they are providing. Call me with your questions or if you just need some friendly advice.

Diane Fuchs, CRS, ABR, GRI, e-PRO
Broker Associate
Michael Saunders & Company
941-266-8006
0 votes
Paul B. Perez, , Austin, TX
Mon Oct 22, 2007
First things first, if you get an agent to lower their commission, then they have just negotiated roughly 17% of their earning away. If they are so willing to do this, who's to say they won't negotiate away a part of your equity? Ask tough questions like, what's your marketing budget like? Do you have pocket investors who are ready ,willing, and able to buy tomorrow? If so, how many? Do you own a condo in Venice? What's your marketing plan? Does your company have a relocation arm for exec's? Do you know of any vacation rental options we may be able to explore if we need to? Ask C21Sarasota what his average days on market is for his listing? Then ask for the ADOM for the area, and compare the two. Ask him what the delta is on his asking price vs. selling price. If his listing list is too long, what does that say? Will you be just another seller? Want some more send me an email: paul@perryhenderson.com
0 votes
trulia, , Sarasota, FL
Mon Oct 22, 2007
Ask to see how much the realtor has sold to date this year and what they would do to get your condo sold. Make sure that the realtor you choose does real estate full time because it takes a full time realtor to get your place sold today. Call me if you need anything else answered - 941.374.4802...
0 votes
Susan Gilmore, Agent, Augusta, GA
Fri Oct 19, 2007
Call Susan Gilmore at Michael Saunders and Company. Her cell number is 941-223-0832 or email her at susangilmore@michaelsaunders.com
0 votes
Elizabeth Bu…, Agent, Englewood, FL
Fri Oct 19, 2007
You need to find an agent that sells on Venice Island. Michael Saunders and company has an office in downtown Venice. Find an Real Estate agent that practices full time, sells on the Island markets properties on the Island. Maybe you should as k the agent to stage the condo to maximize your listing. If you need assistance I can refer an agent to you.

Elizabeth Burr
Michael Saunders and Company
941 855-1142
http://www.BayToGulfHomes.com
0 votes
Richard M. J…, , Sherman Oaks, CA
Thu Oct 18, 2007
Hi Vicki, sometimes the best agent is not the right agent for you. Consult with 3 local agents and hire the one you feel comfortable with. Ask for references.
0 votes
John Peirano, Agent, Fort Myers, FL
Thu Oct 18, 2007
Vicki:
This is John Peirano of Michael Saunders and Company. Earlier today we held a company wide meeting discussing the ways we can provide the absolute BEST EXPOSURE and SERVICE to our current and potential customers. Being owners of a beach front condo on the Island of Venice, as well as having our office on the Island I feel that your daughter and son in law may have equity in the 1/1 condo they purchased five years ago. As most homeowners are aware of, there has been a correction in the marketplace of 25-35% from the PEAK sales prices of 2005, but with your children purchasing 5 years ago they should still do well upon sale. What I try and explain to ALL SELLERS in the current down cycle of the market is to look at selling as an opportunity to BUY the property they NOW really want. All homes are down, All condos are down, and they will ALL begin to appreciate upon the next growth cycle. As investors, we look at the city as a large monopoly board and all we are doing is EXCHANGING property in one location for a MORE DESIRED property in another area. The motivation could be location, downsizing, increasing the size of the home needed, change in lifestyle now wanting a condo versus a home, etc...but the key to remember is we are getting what WE WANT now while the supply of inventory gives us the best choices to suit our needs. I am not sure where your daughter and son and law live now, but it sounds like the complex of Gulf Point. With Europeans capitalizing on the favorable foreign exchange against the dollar along with SEASON coming now may be the perfect time for them to sell.

In answering the question of how do they choose the right REALTOR to represent them. There are many interview questions to ask but a few MUST ask questions are HOW MANY SALES HAVE YOU DONE IN 2007. If an agent has not sold a minimum of 1 sale a month then they are not necessarily the top producers of 2007 - which has been a year in which agents have had to adapt to get property sold. Using yesterdays techniques simply do not work in today's changing market. You should also ask the question What is the total volume in sales you have completed this year and your average sale price. If an agent has 10,000,000 in sales but only 3 sales then your childrens 1/1 may not get the same attention that it would if it were a 3,000,000 luxury property. Ask the agent WHERE LOCALLY will the property be exposed, and where at on the WEB? Ask them to provide statistics of the web traffic. If they can not do this for you then go to the next agent. As far as commission, this is the 64 million dollar question. Commission is negotiable in EVERY transaction, however, do not just hire the agent that gives them the lowest commission. Hire the agent that is the BEST MATCH for the job of getting them what they want - SOLD. Would they pay 1% more for an agent that had the negotiating skills to net them 3-5% more in the bank when all is said and done? What if the SKILL set of the agent could net them 20,000 more dollars, would that be worth 2000 more commission? Of course it would. The other thing about commission, do not hire an agent that will discount the commission and then offer out 1-2.5% on the buyers side. Why? The job is to get shown, and if an agent offers 1% verus 3% along with the other competition offering 3% then it is natural tendency for the SALES AGENT that has to earn a living to feed their families to gravitate away from the property that will not pay them what they are worth. A second point to make about agents that negotiate commissions...how much advertising can they really do and still make a profit, and how good will they be when they come to negotiate the best selling price for your children? If they are willing to easily throw away half of their own paychecks up front, then will they be willing to negotiate strongly when the time comes to save your daughter and son in laws equity. If we can be of further assistance there is much more to demonstrate, we can be reached at http://www.24-7team.com or by calling 941-375-6864
0 votes
none, , Sarasota, FL
Thu Sep 13, 2007
Vicki,
I agree with you on listings are not always closers. That is why there are so many agents working other jobs today. All the pre-maddonas of Real estate are dropping fast. Discount Brokers are closing there doors. It takes a full-time agent with spending more time and money with creative marketing. Bottom line on getting a good agent is try them in the evening around 8pm see if they answer there phone and how motivated they are. Make sure you get references from them as well. Ask them for some past advertising material not just there friends phone numbers. As for commission you get what you pay for. Check out next months Homes and Land (In stands Sept 27Th) you will see a smaller magazine but overall more listings on the market. That should give you a clue....Good luck
0 votes
none, , Sarasota, FL
Wed Sep 12, 2007
I'm a Full Time agent your area. Go to my website for my profile and my listings. Half my listings are in condo resales. Best regards
0 votes
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