Thinking of Selling Your Toscana Condo? 

What Toscana Sellers Should Know When Selling Their Toscana Condo

Toscana Listing Presentation - Ben & Mayra Stern 2023.pdf
Summary Listing Presentation for Toscana.pdf

Ready to Sell your Toscana Condo? Contact Us! 

Call: 561-908-2474 or TEXT: 561-715-0314

Email: BenAndMayraStern@hotmail.com 

We believe that an educated consumer makes the best customer! Costly mistakes that Toscana sellers should know about!

It is not a secret that the real estate profession is not well respected. We understand why.  We have been in the real estate business for over 25 years. We have met good agents with high integrity and professionalism throughout the years. However, we have also met many agents that lack training, integrity, and honesty. Even more sad, is that many of the agents that do not follow the rules and common ethical practices, are the ones that are, in many cases, more successful than the ones that honor our profession, follow the Realtor's Code of Ethics, and the law.  In other words, the saying is true: good people finish last. For example...

It is easier to get a listing when agents tell the seller what they want to hear. Many agents tell prospective sellers a price that is unrealistic, so that the property owner is more willing to list with them than with another real estate agent interviewing for the same listing. As nice as it sounds to hear that a seller can get a higher price for their home, not listening to the agents that are being more honest & giving the seller a more realistic selling price, based on the price of actual sold properties, will probably not do the seller any good. The property will sit for months or even years on the market without selling, while it helps other comparable properties sell. Buyers are very savvy these days. With all the information out there, they will know which properties are a better value, and the properties that are priced right, will be the ones that sell. Many overpriced homes will never sell and their listing expires. It has been proven, that if a seller prices their property right from the beginning, it will be sold faster, and in many cases, even for more money than they would have gotten if they overpriced their home. A property that has been on the market for so long makes buyers think that there is something wrong with it, or they will think that the owner is just not realistic, so they will pass and not even bother with that property. A seller might know, that they will be flexible & negotiable once they get an offer, but all those buyers and agents out there do not know that. Standard of Practice 1-3, of The Code of Ethics and Standards of Practice of the National Association of Realtors, states: "Realtors, in attempting to secure a listing, shall not deliberately mislead the owner as of market value." It is up to the seller whether or not they want to list with an honest agent that told them the truth from the beginning, or with the agent that did not. Unfortunately, most sellers listen to the agent that tells them what they WANT to hear and not what they should hear.

The manipulation of the MLS information is another thing that we see in the industry, meaning the statistics of certain real estate agents look more favorable. When agents overprice a listing just to "get the listing", it is very common that the property sits on the market for many months and even several years. The excuse given to the sellers when they are asked to reduce the listing price again and again, is that the real estate market has changed. In many cases, the problem with the listing is that it was overpriced from day one and the sellers were helping sell their competition, the properties that were priced correctly.  Therefore, in an attempt for the real estate agent to overcome their terrible statistics of 450+ days on the market, and most likely a terrible Listed Price to Sold Price ratio (if the property ends up selling, it might be 20% - 40% below original asking price), many manipulate the MLS information by removing the listing from the MLS and then inputting the same property in the MLS with a new MLS number and a new price. Because of this, prospective buyers might think that the property is a new listing when in reality, it has been on the market for an extended period of time. If the property ends up selling, the days on the market and lower new listing price will give the agents better statistics. However, prospective buyers these days are very resourceful, and they can find out very easily how many times a property was on the market previously and for how long. This misleading tactic only helps improve the statistics of the agent that plays that game rather than the seller. Manipulating the MLS tactics may "work against the duty of honesty in Article 1, and the 'true picture' mandate for all advertising, marketing, and other representations in Article 12," says Rodney Gansho, NAR's director of engagement and staff executive to the Multiple Listing Issues and Policies Committee. Read more here:

MLS Games People Play - Realtor Magazine, March - April 2020 issue

Some agents unfortunately, do not give a copy of the listing agreement to the sellers as required by the Code of Ethics, article 9. Make sure your Realtor gives you a signed copy of the totally executed Listing Agreement right away. We immediately deliver or email a signed copy to our sellers. In Florida, you are required to provide your client with a copy of the Listing Agreement signed by all parties. We would be very concerned if an agent did not take the time to go over the listing contract with their client, and give a copy of the Listing Agreement. Clients need to make sure they write the expiration date of the contract on their calendar. This will help keep track of the listing period. If clients are happy with the service this agent is giving, then they could sign a listing extension, if not, the client has the right to find an agent that will give better service and results.

Who represents the client? We represent the seller when we take a listing as “single agents”. Most other real estate agents are transaction brokers.  The duties of single agency include: loyalty, confidentiality, obedience, and full disclosure, which are not included as transaction broker duties. A transaction broker provides you with a limited form of representation. 

Sellers should be aware of kickbacks so they are not stuck with bad service! We have received so many calls from people throughout the years that are stuck with a real estate agent that gives them bad service, and they can not wait to get out of the contract. We tell these people that unfortunately, until that contract is either cancelled or expired, there is nothing that we can do to help them sell or rent their property. Before choosing a real estate agent, sellers should do their homework. Maybe who someone calls "THE BEST" real estate agent is not really so, but it is just the one that "greases their palms." They don't care that the seller will be stuck with bad service and results for years and that the seller will be paying the costly vacant property expenses. Sellers should know that for a real estate agent to give back a kickback to someone unlicensed as a real estate agent for referring them a customer, is not legal in the state of Florida. See Florida Statutes 475.25.

Florida Statutes 475.25 Discipline.—

(1) The commission may deny an application for licensure, registration, or permit, or renewal thereof; may place a licensee, registrant, or permittee on probation; may suspend a license, registration, or permit for a period not exceeding 10 years; may revoke a license, registration, or permit; may impose an administrative fine not to exceed $5,000 for each count or separate offense; and may issue a reprimand, and any or all of the foregoing, if it finds that the licensee, registrant, permittee, or applicant:

h. Has shared a commission with, or paid a fee or other compensation to, a person not properly licensed as a broker, broker associate, or sales associate under the laws of this state, for the referral of real estate business, clients, prospects, or customers, or for any one or more of the services set forth in s. 475.01(1)(a).

For example, in an article that we recently read online, Why you should ignore the hotel concierge’s recommendations, the article states:

But one travel expert has suggested that there are plenty of circumstances where you’re probably better off taking the concierge’s recommendations with a grain of salt. “When you're asking around for sightseeing or dining advice, avoid hotel staffers. They're often on the take,” says Time Magazine’s travel expert Brad Tuttle. 

When someone refers an agent to a seller, the seller should make sure that the referral comes from the heart, because that agent gives exceptional service, not because they are getting a kickback for the referral. The best referrals come from an agent's past customers and people that sellers truly know and trust. To read our customer reviews, please click the following link: Reviews 

Zillow Zestimates Are Usually Not Accurate. For years we had people tell us that Zillow estimates, made their home be worth this or that. The problem with the estimates that Zillow gives, is that they do not take into consideration many things that a Realtor would know to take into consideration when giving an estimate of value.

So, next time you want an accurate estimate of value, please, contact us! We will tell you what your home is worth based on accurate data and your property specific characteristics.

When you hire an agent, you might not get what you expect. Many owners list with an agent thinking that they will only have that one “very qualified” agent to handle their transaction, but some agents might have their assistant, or other less qualified, new, real estate agent doing some of their work. We were all new in the business once, but, just make sure that you know who will be working for you, and know what you are getting for the money. Ben has been doing real estate since 1990, and Mayra got her license in 1996. When you hire Ben & Mayra, we are the only ones working for you. Having someone in the team that is not that qualified or experienced, might cost you thousands. And you might be even paying more in commissions but getting less customer service & experience.

About franchise, company, and processing fees. Before the internet took off, paying more in commission to a “global” real estate company with thousands of offices worldwide made sense. It was not that easy to get international buyers without that. These days, with so many internet real estate sites such as Realtor.com and Zillow.com, the need to be part of a big company is less. Because we own our real estate company, we do not have to pay franchise fees, company fees, etc. we can pass some of the savings on to our customers. We never charge our sellers a processing fee either. Many companies out there charge their clients between $299 - $1,000 in addition to the real estate commission when selling, buying, or renting. 

More showings means a faster sale, and maybe even more offers and a higher price when selling! The easier a property it is to show, the more showings you will have, the faster it sells, and the more money you might get. We accompany the showings of all of our listings in Toscana. Since we live here, it is very easy for us to accommodate the showings that other real estate agents request, even on moment’s notice. Requests that you can only show between this time and that time on specific days of the week, or the need to give 24+ hours notice to show a property, is a turn off for other agents trying to show listings to a customer during a specific time of the day. Most agents will not go back to show those hard to show listings another day when it is convenient for the owner or the agent to show it. Even if an agent tells you that they will accompany every showing, chances are that if the agent does not live in the community, the showings will not be as easy as someone that lives in the community. Most likely, the agent will just instruct the concierge to release the key to any agents showing the property without him/her having to accompany. And, if the seller's request ONLY showings when the listing agent is present, that agent might have to say no to MANY showings because they have to drive to Toscana and it might be 45+ minutes away from where they live. With the two of us (Ben & Mayra) living in Toscana, chances are, we can accommodate every single showing request.

How about double dipping? Some real estate agents want to double dip (they want to find the buyer of the property they listed on their own, that way they keep the whole commission for themselves) as much as possible and to do so, they might make some of their listings hard to show to other agents. Only towards the end of the listing agreement (when they are about to lose the listing), they start making more of an effort to show their listings to other agents. The more showings a seller has, the more chances they will receive multiple offers. We make it easier for other agents to show our listings, even on moment’s notice. We also try to show it to as many of our own buyers as possible. We want to get the most exposure for our listings so the sellers can choose the best offer for them based on their particular situation.

Being a good real estate agent comes with experience and years in the business. Many people might not be aware that getting a real estate license in Florida is not that hard to do. After you take the “63-hour Sales Associate Pre-License Course” and take the state exam, you can go sell a home. This course, as informative as it is, does not cover many of the important day to day issues a real estate agent can expect to encounter in a transaction…most of what we have learned in our combined 40+ years in real estate came from experience. Even if a new agent is with a well known national real estate company, he/she is still new, and the inexperience & mistakes can cost you thousands of dollars. Choosing a real estate agent because he/she is a friend or a family member’s friend, or a new agent with a big real estate company, does not make them the most qualified agent to sell your home. Your property is probably one of your biggest assets, and you should only trust your property to someone with enough experience. 

Listing length matters. Some real estate agents try to lock a seller into a long term 1 year listing. We have flexible terms and our listing contracts are for less time. If we need more time and you are happy with our service, we can extend the listing agreement as needed. If you sign a 1 year listing agreement right away, you are now locked into a long term contract with an agent. If you are not satisfied with the service or results for any reason, you might not be able to get out and you are stuck with an agent that you might not be happy with.

Magazine & newspaper ads most of the time don’t help you sell your home! While most people read magazines and newspapers, statistics show that 92% of the buyers go online to search for properties, and real estate agents were viewed as a useful information source by 98 percent of buyers who used an agent while searching for a home. By the time ads on a magazine come out, chances are the property is already sold, or the price changed. Most of those ads don’t mention if the community is pet friendly, how much the monthly maintenance is, or if the home is in a membership required community, among other important information that the buyers will need to know to proceed. The online description of the properties includes that information. Many real estate companies use these ads to show sellers why they are a better choice. In reality, most serious buyers are either looking online, and/or using a real estate agent to help them find a home. Chances of a buyer buying a property from an ad in a magazine or the newspaper are slim. Many real estate companies justify charging a seller more in commissions to compensate paying for the ads that, in reality, just promote their business and not a property. Most listings sell through the MLS in collaboration with other real estate agents. 

While there are some agents that make all other real estate agents look bad, sellers should know that there are many out there that are trying really hard to walk a straight line, be honest, have integrity, and truly care. According to NAR (the National Association of Realtors) research, 76% of the sellers only interview 1 agent. Why is that? Most consumers read reviews online and shop around for at least 3 bids if they want to purchase a car or a dishwasher, but yet, when it comes to their BIGGEST investment, their HOME, they do not shop around. It becomes clear to us, that if more consumers would do their research, they would hire a better agent, and they would not just go with the agent that someone says is "THE BEST," when they are not, nor the one that tells the seller what they want to hear, without actually having good statistics and multiple stellar reviews. So, if consumers would be more careful with their choosing of an agent, there would be less real estate agents in this business that do not follow The Code of Ethics and the law.  They would not be able to make it in this business and they would have no choice but to go try a different business. If we want to make the real estate profession a more respected profession, not only do agents have to do their part to show they have more professionalism, but in addition, consumers should not enable the bad behavior of the agents, that are less than stellar, by hiring them over the ones that are honest and follow the rules that are in place to protect the consumer.

We hope that you find this read meaningful. We also hope that consumers looking to buy or sell real estate will take the time to do their homework and give a chance to the good real estate agents out there. To all my colleagues that play by the rules, thank you for your professionalism. We can all improve the quality of the real estate professionals together.

Thanks to all our past clients and customers that gave us the chance throughout the years. Your awesome Reviews give us the fuel we need to keep going, one customer at a time, with integrity. 

Sincerely,

Mayra & Ben Stern, Stern Realty

Ready to Sell your Toscana Condo? Contact Us! 

Call: 561-908-2474 or TEXT: 561-715-0314

Email: BenAndMayraStern@hotmail.com