In the past years, selling in the Miami housing market was always considered somewhat a standardized procedure. One chooses a realtor, then the realtor shows the home to the public, as one sits back and just waits for offers to come; then one hopes a sound offer would really come in, and if it does, one sells. This is the way home selling has been done not only in Miami but in any other housing market as well.
As with everything else today, new advances have sprouted, which have made the whole home selling process evolve. Consequently, the seller has been presented with multiple options when selling a property in the Miami housing market. The savvy seller will most certainly take advantage of such options in order get the best price offer at the minimum time and cost.
Several people report of the Miami housing market recession in the past few years. The boom has undoubtedly subsided as it has turned into a buyer's market. Nowadays, most people have been watching 'home improvement' shows, from which they derive the idea that any minor aspect in the home such as a crack in the living room wall can bolster them into asking for a thousand dollars stash from the sale price. Everyone self-righteously consider themselves as experts these days. Hence, for a seller who does not consider himself or herself an expert as well, then the standard selling process dictates one to depend on a realtor, who might be just as happy with turning in a quick sale and get his or her commission pay as they are with proffering for a good price.
In other parts of the world, for instance in Australia, real estate auctions are considered as standard practice because the seller is practically engaged amid a bidding war, which could get them a great price well above the market rates. In North America however, an auction is generally taken as an indication of panic to sell for whatever one can get to bid for. In other words, bidding wars rarely happen here. Unfortunately, if the preferred sale price has not been achieved, the seller still has got a bill to pay the auctioneer for his time.
The 'sale by owner' option is alright because it saves the seller realtor fees. But this is surely not for everyone, especially those who are not confident enough to process all the paperwork and not screwing up any detail along the line. Another point of anxiety is the necessity for one of being a sufficiently effective sales person in order to get the best price. This idea alone puts off a lot of would-be home sellers. Nevertheless, a lot of people now are finding 'sale by owner' option a much faster and easier, and less stressful way of selling in the Miami housing market, especially to buying companies that specialize in offering fair market prices to quickly sell properties that they can develop for a profit way below the line.
Of course, one can develop the property using own means and financial resources to pay the carpenters, floorers, painters, plumbers and roofers while paying a mortgage. It could turn out to be a highly profitable venture in the end. However, there are a lot of hypothetical circumstances that could take place along the way. For example, the average real estate value in Miami might drop while the property is under construction, and the laborers might screw up the job, hence, requiring it redone. In other words, this option may bring in high gains on the sellers part, but it entails high risks as well.
