The Key to Selling in Today’s Market: Insights from John Hoffman
Kyle Madorin March 7, 2025
Kyle Madorin March 7, 2025
Selling a home today isn't the same as it was just a couple of years ago. Buyers are more selective, inventory levels have changed, and pricing strategies need to be more precise than ever.
In this episode of the Real Estate on the Up, we're breaking down what it takes to sell in today's shifting market. If you’ve been keeping up with the market, you know things are moving fast. Buyers are more selective, sellers are adjusting to new realities, and real estate professionals need to be sharper than ever.
That’s exactly why I brought on John Hoffman for a deep dive into the state of real estate today. John is one of the top real estate agents in the country. He shared valuable insights on pricing strategies, market trends, and how to stand out in the real estate market, showcasing his extensive industry knowledge.
With 35+ years of experience in Florida and New York, John ranks in the top half of the top 1% of agents nationwide and has led Keller Williams' top-selling team in North Florida for several years.
He pursued an unconventional path to real estate success, starting in Rochester, New York, after graduating from Miami University in Ohio, with a goal of self-employment rather than corporate work.
Interestingly, his move to Tampa, Florida, wasn’t initially about real estate. He planned to open bagel restaurants, drawn in by Tampa’s demographics:
Average resident age: 36 years old
98% year-round residents
First U.S. city where people ate out over 50% of their meals
After two years in the restaurant business, John returned to his true passion—real estate. He has been selling homes in Tampa for nearly three decades, with impressive results.
His success has come from understanding market trends and staying informed through reliable sources, including top real estate podcasts that discuss industry shifts and best practices.
Many sellers think pricing high gives them room to negotiate, but in reality, it does the opposite—it limits interest and drags out the selling process. Pricing a home correctly from day one is one of the most crucial factors in achieving a fast and profitable sale.
Here’s why correct pricing matters:
Homes that are priced competitively from the beginning tend to sell faster and at a better price.
Overpricing leads to stagnation, forcing price reductions that make the property appear undesirable.
Accurately priced homes attract serious buyers, reducing the risk of drawn-out negotiations or failed contracts.
John also stressed the importance of considering buyer psychology. Buyers today have access to more data than ever before, allowing them to compare homes, analyze pricing trends, and spot overvalued listings in an instant. If they see a home is overpriced compared to similar properties, they’ll skip over it entirely.
A correctly priced home attracts more buyers, creating urgency and competition, which strengthens the seller's negotiating position. In contrast, an overpriced home lingers on the market, leading to price drops that diminish its appeal.
Another issue with overpricing? Appraisals. Even if a buyer is willing to pay more for a home, their lender might not agree. Banks and mortgage lenders rely on appraisals to determine the true market value before approving financing. If a home doesn’t appraise at the contract price, deals can fall apart, causing delays or even forcing the seller to relist the property.
John pointed out that pricing realistically from the start reduces this risk. When a home is priced correctly, it is far more likely to appraise at or near the agreed-upon sale price, ensuring a smoother closing process.
Sellers who work with experienced real estate agents and mortgage brokers avoid many of these pitfalls. A knowledgeable mortgage broker plays a critical role in helping buyers determine their purchasing power, ensuring that offers align with realistic market values. This prevents last-minute financing issues and makes transactions more seamless.
If it’s truly a $600K home, it needs to be listed at $600K or even slightly lower to generate interest. A well-priced home will attract more qualified buyers, increase the chance of multiple offers, and create a faster, smoother selling experience.
One of the biggest shifts in the Tampa market today? New construction is changing the game for both buyers and sellers.
Builders are flooding the market with brand-new homes, and they’re offering aggressive incentives to attract buyers. This creates tough competition for sellers trying to list older homes, making it essential for resale properties to stand out.
New construction homes have major advantages that appeal to today’s buyers. Some of the biggest draws include:
Lower insurance costs: Florida’s rising insurance rates are hitting homeowners hard, but new builds come with updated materials and codes, making them significantly cheaper to insure.
Move-in-ready appeal: Buyers don’t have to worry about renovations, outdated designs, or surprise repairs. Everything is brand new.
Financial incentives: Builders are offering $20K+ in closing cost credits, appliance packages, and even interest rate buy-downs to make purchasing more attractive.
Customization: Many buyers love that they can choose finishes, layouts, and upgrades tailored to their needs.
For buyers comparing options, these perks make new homes hard to resist—which is why resales must be priced competitively and properly prepared for the market.
While new homes are thriving, certain types of resale properties are feeling the pressure:
Older resale homes that need work: Homes that require updates, such as fresh paint, modern flooring, or kitchen and bathroom renovations, struggle to compete. Buyers would rather purchase new than invest in costly improvements.
Townhomes competing with brand-new builds: Builders are flooding the market with newly constructed townhomes at competitive prices, leaving older units sitting on the market longer.
Condos in oversupplied markets: Some areas, such as New Tampa, now have a condo inventory of over 14 months, causing prices to drop by as much as 20% in just six months.
Sellers in these categories must either adjust their prices or invest in upgrades to make their homes more desirable.
With new construction making resale properties less attractive, sellers need a strong strategy to stand out. John emphasized that the homes that sell are the ones that offer real value—either through pricing, condition, or unique selling points.
Here’s how sellers can increase their chances of selling in a new-construction-heavy market:
Stage and declutter: Make the home look as modern and move-in-ready as possible.
Invest in small upgrades: Even minor updates—such as fresh paint, new light fixtures, or modern cabinet handles—can make a big impact.
Price strategically: Don’t price based on what you need—price based on what the market demands. New construction is setting the tone, and resale listings must stay competitive.
Offer incentives: If builders are offering closing cost credits, consider offering similar perks, such as help with closing costs or appliance upgrades.
John’s takeaway? New construction isn’t slowing down anytime soon. Sellers who want to succeed in today’s market need to position their homes wisely, price realistically, and ensure their property appeals to today’s buyers.
One of the most important takeaways from this conversation? Experience matters.
John shared a story of a client who overpaid by $30,000 because their agent had no experience. This happens more often than people realize.
Many sellers choose agents based on low commission fees—but the cheapest agent isn’t always the best.
Analogy: Lawyers charge anywhere from $150/hour to $400/hour—you get what you pay for.
A good realtor negotiates better, prices homes correctly, and markets listings effectively.
We wrapped up with a look at where the market is headed.
Tampa still leans toward a seller’s market, with 3.75 to 4.1 months of inventory.
Prices aren’t crashing, but overpriced homes are sitting longer.
New construction will continue to impact resale values.
Condos and townhomes face steeper price declines than single-family homes.
My conversation with John Hoffman reinforced one major truth—real estate success is all about strategy. Whether you’re buying, selling, or working in the industry, staying informed and making data-driven decisions is key. The market is shifting, and those who adapt will come out ahead.
Ready to gain the insider knowledge you need to navigate the real estate market with confidence?
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