Shawn O’Neill
Broker/Owner
JPAR City & Beach
Jacksonville, Florida
Region served: Jacksonville and St. Augustine, Florida
Years in real estate: 25
Number of offices: 2
Number of agents: 107
Favorite part of working in real estate: I’m in the “give” phase of my career, so helping agents hit their income goals while enjoying a good work-life balance
How would you describe the work philosophy that you live by?
Productivity and service are two of our values, so it’s critical that they both come through in everything we do. Additional core values we live by at JPAR City & Beach include doing the right thing, respecting others, being better verdicts of ourselves than we were yesterday, championing a solution-oriented mindset, never giving up and focusing on the community we serve. Those are the things that drive us and make us different.
What are some of the current trends you’re seeing in your market?
One of the biggest trends we’re seeing in Northeast Florida is a much more selective and price-sensitive market. Buyers are still active, but they’re being more deliberate because of affordability and interest rates. They have more negotiating power than they did during the peak years, and we’re seeing more conversations around seller concessions, rate buydowns, closing-cost assistance and making sure the home is truly move-in ready.
At the same time, this isn’t simply a buyer’s market. Inventory in Jacksonville actually declined significantly year-over-year in September, while homes that are positioned correctly are selling faster than they were a year ago. The real divide is between homes that are priced and prepared properly and those that are not. Buyers will move quickly on a great property at the right price, but they have very little tolerance for an overpriced home.
We’re also seeing consumers put much more emphasis on the total monthly cost of homeownership—not just the purchase price. Interest rates, insurance, property taxes, HOA and CDD fees all factor heavily into the decision. That has made the role of the real estate professional even more important.
Overall, I think Northeast Florida continues to have strong long-term fundamentals. We remain relatively affordable compared with many of the markets people relocate from, and buyers still want the lifestyle our region offers. But this is no longer a market where everything sells simply because it’s listed. It’s an expert’s market, and agents who understand pricing, negotiation, financing and their local micro-markets are creating a real advantage for their clients.
When it comes to first-time buyers, what are your top strategies for reaching and connecting with them?
While we have a strong web presence with our Expert Home Advisors site, going directly to the consumer has helped us find our share of first-time homebuyers. But when prices double in a few short years, it makes for a more expensive purchase, which leaves prospective buyers with a lot of questions: Why am I buying? What am I trying to do? How can I ensure this will be a good investment over time? It’s my job as their real estate professional to ensure they know about the tax write-offs associated with purchasing a home as well as the benefits that come with homeownership.
Making sure they have enough money in reserves so that we’re not putting them in a situation where they’re house poor is also important, which begins with making sure they’re saving enough money. Maybe it requires them to rent a little bit longer, or maybe it would be beneficial to get a gift from someone in the family or use retirement accounts to make sure they aren’t strapped financially to purchase a home.
What do you like most about the region in which you work?
Northeast Florida is a wonderful place, and it’s a great place to raise a family. In addition to three seasons, we also have 300 miles of navigable river, 85 miles of ocean and a wealth of things to do outside—providing a really cool work-life balance. There are a lot of different areas to explore on any given weekend or date night—from the beach to historical areas as well as San Marco and St. Augustine. Having become a good corporate growth area, Northeast Florida is an amazing place geographically as far as the way in which the area is set up compared to the rest of the state.
For more information, visit https://shawnoneill.jpar.com.
