Working with a top agent to sell your home fast in Miami

If you want to achieve a faster-than-average sale but have more time to devote to the process, working with a top Miami agent can help you sell your home fast. HomeLight data shows that the top 5% of real estate agents across the country sell homes for as much as 10% more than average real estate agents. And they can sell it faster, too, reducing the days on market and allowing you to move on from a divorce, sell a home you inherited, or jump into your next adventure.

Inside the Miami housing market

To fully understand the value and services of a top-performing Miami real estate agent, it’s helpful to know what’s happening in the South Florida housing market.

Population growth: Miami saw significant growth in 2022 (0.8%), which can be attributed to a number of factors, including businesses moving their headquarters to Miami, beautiful weather, access to beaches and boardwalks, and a thriving arts and culture scene.

Cultural growth: In an article for South Florida Agent, Teresa King Kinney, CEO of the Miami Association of Realtors, says Miami is “the top financial center in the Southeast, it’s home to a booming downtown, serves as an unparalleled gateway to Latin America, hosts a world-famous arts and cultural scene and sports the best business-friendly environment in the U.S.”

Business growth: Many tech and finance companies are moving to and expanding their operations in Miami. Goldman Sachs recently doubled their Miami office space, and in June 2022, Citadel, a large hedge fund, announced it was relocating from Chicago to Miami. Other companies in the retail, dining, crypto, and startup spaces are flocking to Miami and bringing their employees with them.

International appeal: Jeff Miller, who is in the top 1% of real estate agents in Miami Beach, says he sees lots of buyers who come “from all over: Mexico, and South American countries like Argentina and Venezuela — you see a lot of them investing in the Miami condo market. Then you have a lot of Europeans as well, whether they’re from France, Russia, England, or Turkey.”

Domestic migration: He adds that most domestic buyers in Miami come from the northeast and midwest — areas within New York, Chicago, Atlanta, New Jersey, and even Texas — “just because of the geography, the same or similar time zone, and easy flights. They’re all escaping and trying to come to the beach.” This growth includes a high number of millionaires relocating to the Magic City.

Limited new construction: Despite the influx of new residents, the number of construction permits for both single-family houses and multifamily housing declined in 2022, with single-family permits declining 57% year over year and multifamily housing permits by 28.7%. This means that demand for housing will likely continue to increase, giving sellers better opportunities to sell their home quickly and for more money.

Less interest rate impact: Higher interest rates slowed new home purchases at the end of 2022, but Lucas has seen buyer demand increase as 2023 continues. “Our current market here in South Florida is still very, very active,” he says. “There was a slowdown in the third and fourth quarter of last year when rates spiked, but we believe that buyers have had time to digest [current rates].”

How fast are homes selling in Miami using an agent?

Home sales slowed at the end of 2022 as interest rates rose and many buyers held off on purchasing a home. Lucas says now that rate hikes have slowed and buyers are realizing that the current rates aren’t going to lower significantly but rent prices are still increasing, “it makes a lot more sense to purchase versus to rent.”

The days on market (DOM) — number of days between listing and a signed contract — really depends on individual neighborhoods. This is where a local agent can help position your home to sell as quickly as possible. Below is a market overview table (as of this posting date) showing sales data for the communities in the Tri-County Area — collectively known as South Florida. However, specific neighborhood data will still vary.

Keep in mind, the DOMs listed below do not include the average 43 additional days a buyer needs to close on a purchase loan.

Single-Family Homes

*Median values shown

Condo, Coop, Villa, Townhouse

*Median values shown

Traditional strategies to sell your home fast in Miami

Selling a home fast depends on a number of different factors that include pricing the home correctly, highlighting the neighborhood, and emphasizing the home’s amenities.

1. Price the home correctly

Lucas says they’re seeing properties “if priced correctly, go under contract in under 30 days.” Pricing a home correctly often depends on the agent’s experience and familiarity with local comps and other data.

Miller agrees, and describes Miami as “broken up into a bunch of different micro-neighborhoods or submarkets.” With such a diverse housing market, pricing your home correctly is your first top priority. “A good agent, an experienced agent, is going to guide you through the process,” he says.

2. Highlight the neighborhood and surrounding area — and sell the lifestyle

“South Florida is a vibe; it’s a lifestyle,” emphasizes Lucas. That means that highlighting what’s around the home is almost as important as what’s in the home. If you’re close to restaurants, parks, dining, and entertainment, that should be included in the home’s listing to show prospective buyers all that the neighborhood has to offer.

3. Emphasize the home’s amenities — especially the outdoor ones

Lucas knows that South Florida residents love their indoor/outdoor spaces and recommends emphasizing the home’s amenities. He estimates that “at least 50% of single-family homes have a pool.”

Miller recommends showing off your home’s amenities as well. For instance, he suggests, “If you live in one of South Florida’s quiet, southern-style neighborhoods, highlight the relaxing areas of your yard or porch by investing in a hammock or bench swing.” This is an easy low-cost way to bring character to your house while featuring the charm of your peaceful community.

4. Declutter and depersonalize

Real estate experts all agree that a home will sell faster when buyers can envision themselves living in the house. Taking steps to declutter and depersonalize will not only help you sell your property quicker, but it can also pay dividends. According to HomeLight’s research, reducing clutter can add over $2,500 to your home’s value at resale. Learn more about how to prepare your house for sale at this link.