Leading Florida real estate agent Roger Pettingell has decades of experience in real estate and has sold more than $2 billion in luxury properties in Manatee and Sarasota Counties. From experience, he has found that there are differences between buyers’ expectations and reality, as even luxury buyers are often unaware of key market circumstances that could impact their home purchase decisions.
“Sarasota has long been an attractive market for baby boomers, but as the wealth and buyer demand in the region has reached new heights, so has the luxury market.” Indeed, home real estate prices went up a whopping 22% compared to last year; what’s more, the current housing shortage is limiting housing growth in an area with high demand. On average, a house in the area remains on the market a mere six days before it is purchased. Average homes sell around 2% more than the asking price, but in-demand homes can sell for up to 7% more than the asking price. Unfortunately, many buyers don’t realize how much the market has changed even in the last year and are surprised to find that a luxury home costs significantly more than originally anticipated.
Furthermore, Roger Pettingell notes that many luxury home buyers are eager to purchase a home “as is.” In fact, it’s not uncommon for buyers to be willing to make concessions such as choosing a home without a great view as long as they do not have to make significant renovations and repairs before moving in. However, as Pettingell points out, it is a seller’s market. While many luxury homes have the floor plan, features, and amenities that one could want, some may need minor repairs or renovations to meet buyer expectations.
The secret to his success in Florida’s challenging market is to offer stellar customer service that makes it easy for luxury home buyers to find the home of their dreams at just the right price. He has found that many buyers expect luxury real estate agents to know about the local neighborhood and be able to recommend good local contractors such as plumbers and landscapers. They want a real estate agent who will take them out to eat at his or her favorite restaurant, communicate before and after the home showing, and provide a personal touch by getting to know the buyer’s needs and wants and seeing how potential homes could meet the buyer’s wishes and requirements. Roger strives to not only meet but even exceed buyer expectations. Having lived in the local area for decades, he can offer valuable tips and advice to new buyers to help them get adjusted faster and more easily than would have otherwise been possible. What’s more, he takes a personal interest in his buyers to ensure their home purchase experience is a pleasant one.
Roger Pettingell explains to buyers and aspiring luxury real estate agents alike that the market is an ever-changing one. The cost of luxury homes is rising rapidly, and buyers often expect far more additional services than the average home buyer. Even so, the area is unmatched. Buyers who invest in Sarasota and Manatee counties won’t soon regret their decision, and those who learn the ropes to become successful luxury real estate agents will find the market has a lot of potential for growth.