With a shortage of houses for sale in Tallahassee, we are experiencing a seller's market. Historically, this has resulted in more people trying to sell homes without the help of a Realtor due to demand being so high.
However, the percentage of houses sold involving a Realtor has stayed about the same over the past four years. Housing data reveals that from 2016 to 2019, Tallahassee Realtors are responsible for approximately 80% of all houses sold in our area.
Last year, Realtors were involved with selling an average of 355 of the 450 homes typically sold each month. This information is drawn from the Realtor Multiple Listing Service (MLS), which means that the percentage of homes sold involving Realtors is actually higher because not every home is entered into the MLS. For example, many new construction homes already have buyers lined up, so Realtors do not need to enter them in the MLS. However, there is still a Realtor involved with selling the new home.
Why Home Sellers Use Realtors
In the past, we often saw the number of people selling houses without Realtors go up when selling conditions got better. Likewise, we typically see more people getting the assistance of Realtors to sell homes when market conditions favor buyers.
Today, market conditions are favoring home sellers, particularly when they reach all interested home buyers, which requires massive marketing efforts. So, even with favorable conditions, people are teaming up with Realtors to make sure they generate multiple offers, allowing them to sell their house fast and for the most money possible.
Despite the fact that housing inventory is low for all of the highest demand price ranges in Tallahassee and we are still experiencing a strong seller’s market, more than 20% of houses are still failing to sell on the first attempt. Home sellers are realizing that it takes a strong marketing plan to ensure success and are using experienced local Realtors to get their home sold.
So, if you are a home seller looking to get top dollar for your house, work with a Realtor who is knowledgeable about pricing strategies and uses advanced multi-channel marketing strategies. With appropriate pricing and the right marketing plan, you’ll wind up with multiple offers on your Tallahassee home within a week or so of putting it up for sale!