Does this text message sound familiar?
“Hey ______, I work with a local developer in Miami Shores. No games here, we’re ready to offer you top dollar for your home at ______. Open to selling?”
If you own a home in Miami Shores, you’ve probably received something similar. Apparently, everyone wants your house. The question is, at what price?
I live and work in Miami Shores and have known this neighborhood for decades. With limited single-family inventory, I’m seeing more people contact homeowners directly. Some identify themselves as investors or developers looking for land to build a new home. Others say they’re cash buyers, or represent a company buying homes in the neighborhood.
The pitch usually includes “top dollar,” no agents, no commissions, no showings and a painless process. It sounds appealing. But before you agree, you need to understand what that convenience could cost you.
Funny how “top dollar” changes when you give them a price
One of the funny and frustrating parts is what happens when you actually respond with a price. Suddenly, it’s “That number is too high” or “My investor isn’t willing to go that high.”
So much for top dollar.
That response is a red flag worth paying attention to, especially if your price reflects the market. Their buying budget doesn’t determine your home’s value, and you shouldn’t accept less simply because their investor won’t pay more.
No commission doesn’t mean more money
Selling without paying a commission doesn’t automatically mean you come out ahead. If the purchase price is below what your home could sell for on the open market, that “savings” may cost you far more than you realize.
And your sale may not be as easy as it’s being portrayed. A promise of a hassle-free process deserves a closer look, especially when you don’t know who is contacting you or whether their offer is legitimate.
Legitimate buyers are getting buried in the noise
This is the part that bothers me. There are Realtors contacting homeowners because they have legitimate buyers looking for homes in Miami Shores. Those conversations could represent a great opportunity for a seller.
But the volume of spammy calls and questionable pitches is burying those inquiries. Homeowners are tuning everyone out, and I don’t blame them.
The point isn’t to ignore every person who wants to buy your home. It’s to understand who you’re dealing with and whether the opportunity makes sense for you.
Why limit who gets to see your home?
Exposing your property to the marketplace means putting it on the Multiple Listing Service, or MLS, where it can reach a broad audience of buyers and their agents. That exposure gives more people the opportunity to consider your home and creates an opportunity for competition.
If your goal is to get the strongest value for your property, why skip that opportunity without first understanding what your home could sell for?
You weren’t selling. They contacted you.
If you weren’t planning to sell, the price that would motivate you to move may be above market value. You’re being asked to change your plans, and that has to be worth it to you. An investor’s budget may not account for that.
A buyer who really wants your home may be willing to pay market value or more. Before you entertain an unsolicited offer, explore all your options and verify that the person contacting you is real and able to follow through.
If you decide to move forward, please don’t do it alone or rely on their attorney to protect you. Whether or not you call me for advice, hire your own attorney to represent your interests.
They approached you. You don’t owe them a discount, a move or a yes.
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