The 10 Biggest Mistakes you can make when choosing a Miami Realtor

Why choosing an unexperienced Miami realtor can be the biggest mistake you ever made

Real Estate transactions and the involvement of realtors differ from country to country. Unlike most other countries, where different agents have access to different properties, in Miami all agents can see and offer you the exact same properties.

This does not mean however, that you will get the same advice from each agent in Miami. The fact that each Miami realtor has access to the same properties does not take away from the fact that you need to screen them on experience and knowledge. Additionally, some of the best properties are traded off-market between top realtors. We summed up the pitfalls of picking the wrong agent and we explain how to pick the right one!

For those looking for a good listing agent, always ask for the listing agent’s marketing strategy

 The 10 biggest mistakes when choosing a Miami realtor (in no particular order)

  1. Choosing a realtor who is not well connected within the market
  2. Selecting a realtor who does not have the network to offer or find off market listings
  3. Choosing a realtor who does not have national or global reach
  4. Selecting a realtor who does not work with a team
  5. Choosing a friend or a family member as your realtor just to do them a favor (do yourself a favor instead!)
  6. Selecting an agent without experience or someone who sells real estate on the side
  7. Selecting an agent without any negotiating power. A popular technique seen in agents who just want to get the deal done and to move on.
  8. Selecting an agent who doesn’t know the market numbers and therefore cannot compare neighborhoods, streets or condos
  9. Selecting an agent who doesn’t know what questions to ask or what pitfalls to look for when purchasing a property.
  10. Selecting a selling agent who won’t work for his listing and won’t invest his own time or money.

How to select your Miami buyer’s agent

The best Miami real estate agent to guide you in the buying process is the agent with the most market knowledge, who can negotiate on your behalf and who warns you for a bad investment. A excellent Miami buyers agent is able to show you properties before they hit the market. This agent knows the top agents in town and is therefore aware of new listings coming up before the rest of the market does.  This agent also has a network of potential sellers, the so called off markets, that he or she can offer you. This person will be able to tell the good from the excellent finishes and works with a team of local experts who can show and analyze different areas.

Pick the Miami real estate agent with the most market knowledge!

Which questions to ask when selecting a potential Miami realtor

  • Is the agent well connected with other agents and does he receive listings before they hit the market?
  • Is this person able to show me off-market properties? (Important in a dry sellers market as seen between 2020 and 2022)
  • Is this person a true expert in his area?
  • Does this person know the numbers and can he analyze the true value of an investment?
  • Can this person also show me and analyze properties in other areas?
  • Has this person closed on properties like the one I am looking to buy? This is specifically important with new construction homes or condos and with very high-end properties?
  • Is this person going to tell me when an investment is not as sound as it might look?
  • Is this person aware of what similar properties have traded for and is he able to analyze a market?
  • Can he recognize trends or ‘predict’ future market movements based on historic data and get you a complete market overview and explanation of this market overview?
  • Does this person have the tools to analyze a market, does he know where in the life cycle we are and were we are most likely to head?
  • Does this person know what questions to ask? (Again specially with new construction projects)
  • Does this person have a good relationship with sales centers of new construction condos and therefore receives new inventory before the rest of the market does?
  • Does this person know about quality of finishes?
  • Does this agent know the best floor plan in every condo?
  • Is he/she willing to look for off-market properties for me?
  • Can he/she tell you where to live to be close to Miami’s best private schools?

How to select your Miami seller’s agent or listing agent?

A listing agent should not just put a property on the MLS, he should actively market it to the right people. A good listing agent has the right connections with other agents and a large database. This will help the marketing time and often results in a sale before your property was even on the market. This will also help in the case you want to sell your property, but do not want to list it on the MLS.

In an increasingly global Miami where most of the buyers are coming from out of town, global reach is essential. Out website for example reaches 50K visitors per month. With our digital marketing campaigns we are able to target the right audience with the right message. Buyers visit our website and our market knowledge leads them to trust us. This is why we sold $400M in real estate in 2021.

What to keep in mind when selecting a listing agent?

  • Does he/she just put my property on the MLS or is he actively promoting it by calling top agents and buyers?
  • How big is the agent’s database?
  • Is this person well connected in the industry?
  • If needed, will he be able to sell this property off market?
  • Does the agent have national or international exposure?
  • Does this agent have a high ranking website?
  • Is the agent going to organize open houses?
  • Does the agent use any other marketing material that sets him apart from the other agents? Eg. videos, social media campaigns, blogs,  digital campaigns and so forth?
  • Does the agent always answer his phone? Or is it hard to reach him?
  • How many properties has this agent listed / sold in his career?
  • Does the agent have experience with this kind of listings and the potential buyers it attracts?
  • Can your agent tell you which likewise properties have sold in the last half year, and what they have sold for?
  • Can your agent tell you which properties are your 5 biggest competitors in the market right now and how your property distinguishes itself in today’s market?
  • Does the realtor understand the finer details of your property?
  • Does the realtor know the numbers and able to advice you on the right price or potential reductions?

Choose the David Siddons Group

At the David Siddons Group we are known for our market knowledge. We are seen as true market analysts and we are the owners of Condo Geeks, a condo analytics software that can track the performance of the entire Miami condo market, neighborhoods or individual condos over the last 15 years. A software that identifies which neighborhoods, condos or price points are more volatile than others,  allows you to see patterns, and one that helps you to compare condo performance.

The David Siddons Group is well connected and offers an enormous database of off market listings and potential buyers. With our high ranking website we reach about 50K visitors on a monthly basis who read our articles and subscribe to our network.

When you work with us you do not just work with David, you get an entire time of local experts who live and work in their respective areas. We have surpassed $2B in career sales and sold no less than $390M in real estate in 2021 alone.

Give me a call at 305.508.0899 and I can tell you more about how we work. Looking forward to it!

FAQ

These are the most commonly asked Google Real Estate Related questions

1. What are the Current Best New Condos in Miami?

If you want to hear in more details our opinions on the best new Miami new construction condos. Please read this article:Best New Construction Condos 2022-2023

2. What is the best New Construction Condo in Fort Lauderdale?

In our opinion, the Residences at Pier Sixty-six are certainly the most interesting and unique. Already well underway this 32 Acre project will be home to the first of its kind Marina where owners will be able to anchor up vessels up to a staggering 400 ft! For specifics of this project see our independent review of this project.

3. How can I compare the new luxury construction Condos to the best existing Luxury Condos in Miami? 

Our Best Luxury Condos in Miami article will prove to be very useful to those looking to compare the existing to the new. You may also want to watch this video which shows the performance of the best Condos in Miami over the last 15 years!

WHY WORK WITH DAVID? THINGS YOU SHOULD KNOW...

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