A stark divide is emerging in Florida’s housing market between sellers who can afford to wait out challenging conditions and those forced to make aggressive price cuts, according to veteran real estate agent Jacqueline Coleman of Coldwell Banker.
The Market Bifurcation
“I have a seller who has increased that price where most people are reducing, but because they’re in a financial situation where they are secure, they are able to wait the market out,” Coleman says, highlighting the growing gap between different types of sellers.
Who’s Under Pressure
Coleman notes that a growing segment of Florida homeowners are under mounting pressure to sell quickly, creating a distinct “must-sell” category in the market. This group often includes people carrying multiple mortgages and struggling to manage overlapping payments. Estate sales are another driver, where heirs may want to liquidate the property swiftly rather than assume responsibility for upkeep or taxes. Divorce settlements can force court-ordered sales on a strict timeline, while owners holding reverse mortgages may need to cash out before loan requirements tighten. Together, these circumstances are fueling a wave of motivated sellers who are less able, or willing, to wait for ideal market conditions.
“Those that are having to make a move because of the dynamics within the household change may have a little pressure applied to them,” Coleman notes. These sellers often must “think outside of the box” to close deals.
The Price Reduction Reality
According to Coleman, market offers typically come in “anywhere between five and 15% below asking.” For sellers with existing mortgages, this often means taking a loss, particularly if they need to offer additional incentives like covering buyer closing costs.
“The ones that are benefiting right now are those that don’t have mortgages, who have financial means where they can ride this wave,” Coleman observes. These sellers can decline to pay buyer closing costs or agent commissions while maintaining their price points.
Strategic Solutions
Coleman adds that many sellers are taking extra steps to secure buyers in today’s competitive market. Some are offering to cover buyer closing costs or pay the buyer’s agent commission to remove potential obstacles. Others provide financial incentives, such as repair credits or move-in bonuses, to sweeten the deal. Strategic price reductions, timed to attract renewed interest after a listing has stalled, are also becoming more common. These tactics, she explains, reflect a shift in leverage as sellers recognize the need to stand out and move their properties more quickly.
Looking Forward
Coleman advises sellers to request an “absorption rate”analysis before listing: “That’ll give you the ability to see how quickly things can sell.” She cautions against relying on optimistic promises from agents, noting “you’re not a psychic when it comes to that. You don’t have that kind of crystal ball.”
