Is Destin Seeing The Death Of The Real Estate Agent?
Is this the end of real estate agents as we know them?
The real estate market is leveling out with prices stabilizing and the number of homes sold on the increase, but it is still very much a buyers market.
destin real estate in the toilet expired 300×227 Is Destin Seeing The Death of The Real Estate Agent?
Market is leveling out.
But the figures for home owners who are trying to sell are daunting!
How many people who are selling their homes know the average time on the market and the average sale price compared to list price?
I would venture to guess it is minimal, otherwise they may look for some other way of advertising their home.
There are definitely homes being sold, but there is still such a volume of homes on the Destin real estate market that buyers have their choice to get the best deals.
So, according to the home sales report for Destin from 2010 the average home in the price range $300,000-$1.2million was on the market for an average of 299 days (10 months) and sold for 89.5% of the list price.
So, let’s view this from the sellers perspective using a median house value of $650,000.
They have to wait 10 months to sell their home mean time making house payments of around $2,500 every month ($25,000). They have to settle for 10% less than the list price. Let’s average that at ($65,000), then they have to pay 6% to the real estate agents, another ($39,000).
This gives a grand total of $25,000 + $65,000 + $39,000= $129,000 to sell a $650,000 home. (this is not taking into account any closing fees).
Surely, this is not what the seller wants.
It would be better just to drop the price of the home by 20% and sell it quick and get it over with.
Or, could there be a better way to get the full value of your home and sell it in less time?
Well, from an internet marketing perspective, it can be done!
The Destin Real Estate market is a tough market to dominate, just like any real estate market. There are usually many companies that have been in the area for a number of years with established websites that get the bulk of the internet traffic. This is especially true in Destin, Florida.
Remember, of all homes sold, 99% started with an internet search. And those searches usually land the buyers on a real estate company website where they can continue drilling down there to find homes for sale.
But, with the advances in marketing systems and new online marketing techniques what took years to develop for a real estate company can be trumped by an expert internet marketer in a matter of weeks.
So, enter again all these homes for sale that take 10 months to sell and tens of thousands of dollars in lost profit. If they could be top of the search engines for their INDIVIDUAL home, then they are almost guaranteed to get a better price and sell MUCH faster because they will have so many more people viewing it.
Now, if you have a real estate agent list your home and it sits on the market a while, it drifts further down the pecking order and doesn’t receive the same promotion as a newly listed home. So, the longer your house is on the market, the less it gets seen.
This is completely opposite in the internet marketing world.
The more time that passes, the greater the effect of the marketing until your property is featured in top positions ALL OVER the internet bringing more calls and more offers.
Oh, and not to forget the most important thing of all- COST!
In the example above, using an internet marketer could save over $120,000 even if it took 6 months to sell!
real estate by owner Is Destin Seeing The Death of The Real Estate Agent?
Destin Homes For Sale By Owner
Things are changing rapidly when it comes to technology and Destin real estate companies NEED to figure this all out, otherwise, it will be the death of the real estate agent and established real estate companies will struggle to compete.
For sale by owner and internet marketer will be the new way to sell your home.