How To Sell A Condo In Today's Market

How do you sell a condo in today's market this article may help you market your condo.Just like a home, condominium sales can be dependent on the housing market in your particular area. Ensuring a quick sale can be made even more difficult with limited exposure to signs, open houses and security gates, so you will need to be creative in your marketing techniques to achieve a quick sale.

Do Your Homework

Researching the competition in your particular building and community will help you know where to set the price. This also allows you to see the condition and amenities that each of the places are offering, so you can see where your home fits. When you are ready to sell a condo competitively pricing your dwelling can generate buzz, especially when you place it a tad lower than the other properties.

Mini Marketing

Since your association may limit you as to advertising, such as signage and open houses, you can implement a different marketing approach to get the sale. Colored brochures can make it convenient for prospective buyers to remember your home as they wander through your listing. The Internet has also changed how sellers list their homes, and you can provide your condominium with its own website. Pictures, descriptions and a virtual tour can even entice a buyer to take an interactive look at your home when they are otherwise unable to view it in person - for instance, an out of state person looking to relocate.

The use of social media such as Facebook, Twitter and YouTube can also be beneficial in enlisting a quick sale. By Tweeting the amenities and any bonuses or price restructuring, you can attract attention to your listing. Keep in mind that lots of sales are made without a physical inspection, so great descriptions, photos, and warranties or other types of documentation (which can be shown online) might just bring you a surprise sale.

Offer Incentives

If the market is heavy with a wide selection of condos, you really need to do something to draw attention to your own listing. This can come by way of special incentives. Offering to pay for the closing costs, a home inspection or a bonus to a real estate agent if the home closes by a particular date can make your condo more attractive than the others. Offering extras such as furnishings may also be enticing - just remember if the furniture is part of the official listing, a lender will deduct that value from the price before qualifying your loan amount!

Staging is King

To sell a condo that is dated and that needs work can hinder your sale. In order to compete with the other listings that are currently on the market, you need to update the interior of your dwelling. Inexpensive fixes could include new lighting fixtures, a fresh coat of paint, updated appliances, cabinets and counter tops. Getting your carpets professionally cleaned can also aid in eliminating odors and noxious smells throughout your property. A condo that is poorly lit, without parking and is dated can be more difficult to sell than something new and unique.

Consider Cash Buyers

The home selling process can be frustrating for those having to make a quick sale. If your condominium isn’t moving the way you want it to, and you need to relocate quickly, these service providers can usually give you an immediate estimate. One great reason for taking this route is that the home will be renovated prior to resell, to bring it up to the area standard - a plus for your neighbors.

Author and former real estate investor, Candice Lawson, says "If I want to sell my home fast, it takes a bit more thought and effort. Condos take even more creativity, but with the right marketing strategies, the use of social media sites and a dynamic website, your condo is sure to move faster than the other listings. We want to Thank Candice for this article on how to market and sell a condo.



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