When Doing Real Estate of Any Kind Get Educated Not Sold

There is a difference especially when it comes to your bank account

When it comes to real estate, knowing the numbers is more than a little important. Back in 2005-2006 the numbers were looking more than a little crazy. We told anyone who would listen that it was a great time to sell. We sold our house and rented for about 6 1/2 years. In 2011-2012 the numbers were more than a little crazy the other way and we told anyone who would listen it was a great time to buy. We took our own advice, stopped renting, and bought a home.

Road sign to  education and future
What happened, we all know all too well. From the market highs when we were saying sell, sell sell, median single family home prices in the Northern Palm Beaches fell by about 37%. Condo prices proved to be much more more volatile and dropped by an amazing 55%. From the market lows of 2011/2012 those median priced single family home prices have jumped by about 38% and the median priced condominium in the area jumped by about 59%. Yes, watching the numbers is important, if you want to make educated decisions.

Years ago, I remember sitting in a “training” class at the brokerage where I hung my license, listening to the broker put in a pitch for a property of his he was short selling. In the next breath he was telling us about a great new class they were teaching “scripts” about how to sell your clients on how paying you an 8% commission was to their benefit. I decided right then and there, I wanted to focus on my customers and show them the real numbers. I wanted to make sure they were educated, not sold. It has been my passion ever since. I didn’t want to learn “scripts” to sell people, I wanted to know the market so I could educate people. Money was not my passion, honesty was. So I started blogging. I started telling you about the numbers. I started my own company, so I could show you even more.

The numbers still look strong, the market still looks solid, but beware. The market changes daily and it can change quickly. We still are about 40% below the all time market highs when it comes to median condo prices. We still are about 15.5% below the all time record median price for a single family home in the area. This market has room to run. But it doesn’t have to. Be careful out there. Real estate costs a lot of money here in paradise and mistakes can be very costly. Education is free but you have to seek it. Do some searching and find out if your Realtor has been spending their time learning to sell you or to educate you. It truly can make a huge impact on your financial well being.

Fins up…..

Tom Priester
Principal Broker

Paradise Sharks Real Estate
561.308.0175
tom@paradisesharks.com
http://www.paradisesharks.com

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Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different…..by design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at tom@paradisesharks.com. You can always pay more and receive less but that just would not make any sense. Would it?

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