In today’s real estate market, the small amount of inventory really makes selling easy, with homes being listed and offers received within hours of the listing on the MLS. If you acquaint yourself with the type of buyer you are looking to attract, you will see this amount of time reduced even more. The buyer demographics in Miami are unlike demographics in other markets. There are four types of buyers that dominate in Miami. First is the primary residence buyer, who is looking for a new home to live in year round. This is a more unusual buyer in Miami, given the seasonality of Miami. The second is the secondary residence buyer, which is affectionately known as the snowbird. Second residence buyers are very common in Miami. The third is the investment buyer, who purchase properties to rent either seasonally or yearly. Lastly, the international buyer, who have been the boons of the Miami real estate come back.
Here are some items to consider the buyers that will be seeing your home. In all instances, make sure that your home is clean, personal affects are put away, and the paint is fresh. There are some other types of information that are vital as well to consider. For first time home buyers, there will often be financing, so be aware of the time and contingencies in the contract. International buyers are more often than not paying in cash, and with a cash offer, there comes a quick closing and generally more negotiations in price. Secondary buyers also buy in cash frequently, as well as investors. Investors are more willing to buy something that will be remodeled and are slightly less particular than Primary home buyers. Secondary and International buyers will be discriminating but less so than a primary home buyer. Primary home buyers have an advantage of a tax credit, so they also will take their time. If you are looking to sell your home, contact us today.