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2023 Forecast: What's in Store for Florida Real Estate

Finding new opportunities

If you’re looking for ways to generate new business in the New Year, consider these potential opportunities.

Become an expert on flood risks.

Understanding federal flood zone maps and building elevations will be important for addressing buyer concerns. It’s especially important to provide that information when a prospective buyer is looking at a waterfront property.

Know residential construction.

Be able to identify and point out safety-related construction features, such as impact-resistant windows and doors. That can give you an advantage when representing buyers and sellers concerned about windstorm risks.

Partner with builders and developers.

With limited inventory in many markets, new construction is a great way for sales associates to grow their business. Become familiar with new projects in your local market, so you can become an expert for your buyers.

Educate first-time buyers.

One of the biggest opportunities is helping first-time buyers who are paying “astronomical rents”. Tell them about local, state and federal programs that could help them financially, like Florida’s Hometown Heroes plan, which can provide down-payment and closing-cost assistance.

Offer power-buyer options.

Because most sellers will need to purchase a new home, they may appreciate power-buyer financing options, such as bridge loans or guaranteed purchases to smooth the transition. Unless an owner is buying down and using the home’s equity, offering this financial option could make the difference in getting a listing agreement.

List homes for move-backs.

Not everyone who moved to Florida in the past two years wants to live here permanently. With the end of the pandemic, some owners will decide to move back to their prior communities, creating an opportunity to generate new listings.

Expand your portfolio.

If your company only serves buyers and sellers, you should consider offering a property management service. While there can be a significant start-up cost in terms of time and money, having a steady rental income stream can offset the ups and downs of the sales side. This can be a sound diversification strategy.

December 20, 2022.Florida Realtors. 2023 Forecast: What's in Store for Florida Real Estate.

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