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Set a Competitive Price for Your Florida Luxury Residence

by Evan Smith & Michael Gioia 08/06/2019

Selling a Florida luxury house may prove to be challenging, particularly for those who are uncertain about how to price a residence. For instance, if you price your luxury home too high, you risk alienating dozens of potential Sunshine State luxury homebuyers. On the other hand, if you price your luxury residence too low, you risk missing out on an opportunity to maximize your home sale earnings.

Ultimately, there is no one-size-fits-all pricing strategy that works for all Florida luxury homes, at all times. As such, you'll need to think closely about how you want to price your Sunshine State luxury residence, regardless of whether it's located in Orlando, Tampa Bay or elsewhere in Florida.

For those who want to take the guesswork out of establishing a competitive price for a Florida luxury home, we're here to help. Now, let's take a look at three tips to help you set a competitive price for your Sunshine State luxury residence.

1. Review the Florida Luxury Housing Market

The Florida luxury housing market shares similarities to the national real estate sector. In fact, the local and national housing sectors experience ebbs and flows, and a real estate market that favors sellers one day can quickly shift in buyers' favor.

A diligent Florida luxury home seller will have no trouble learning about the local housing sector. This seller can assess the prices of available luxury residences in a particular city or town to narrow the price range for his or her home.

Keep in mind that the housing market often varies across the Sunshine State. For instance, a luxury home in Fort Lauderdale may be less expensive than a comparable luxury residence in Miami. Fortunately, if you analyze a broad array of housing market data, you can gain the insights you need to establish a competitive price for your Florida luxury house.

2. Perform a Home Inspection and Appraisal

A home inspection gives you the opportunity to identify any underlying issues with your home. Then, once you receive a home inspection report, you can determine how potential home repairs may impact the price and value of your Florida luxury residence.

Meanwhile, a home appraisal enables a Florida luxury home seller to receive an expert property valuation. With this valuation in hand, you can set a competitive price for your Sunshine State luxury house.

3. Collaborate with a Real Estate Agent

If you are unsure about pricing your Florida luxury home, it helps to hire a real estate agent. This housing market professional can help you get the best price for a luxury home in Gainesville, Lake Worth or any other Florida city or town.

Contact a real estate agent today – you'll be glad you did. This housing market professional will analyze your Florida luxury house and meet with you to learn about your home selling goals. Then, he or she can help you set a competitive price for your luxury residence. And as a result, you can receive the support you need to effectively price your Florida luxury home, increasing the likelihood of a fast, profitable home sale.

About the Author
Author

Evan Smith & Michael Gioia

Licensed in both Florida and Georgia since 2003, Evan has over 15 years of real estate experience, and holds a business degree in real estate from Georgia State University. He works with a wide range of clients, including seasoned investors, first-time buyers, sellers, and property managers. Evan’s vast network of seasoned professionals enables him to offer clients smooth, low-stress transactions. Evan is originally from Winston-Salem, North Carolina and now lives in Wilton Manors with his partner Marc. His personal interests include photography, travel, and spending time with his two Rhodesian ridgebacks Jaylyn and Hugo.

 

We understand that buying or selling a home is more than just a transaction: it’s a life-changing experience. That’s why our team of highly-seasoned real estate professionals is dedicated to providing exceptional, personalized service for all of our clients. We take great pride in the relationships we build and always work relentlessly on the client’s behalf to help them achieve their real estate goals.

 

Our team of experts represents the best and brightest in the industry, and we’re always striving to lead the field in research, innovation, and consumer education. Today’s buyers and sellers need a trusted resource that can guide them through the complex world of real estate. With our extensive knowledge and commitment to providing only the best and most timely information to our clients, we are your go-to source for real estate industry insight and advice.