Even in a fluctuating market, condominiums are still good investments. They tend to sell faster than stand-alone houses. Its instant marketability has enhanced buyers to avail.
Along with lower prices and reasonable maintenance costs, there are unique points and challenges in selling your condo.
Before putting your unit on the market, check with the entity that manages your condo and learn about all the rules that apply to selling it.
Learn these secrets to make sure your condo doesn’t sit for long on the market.
Get ready for showing
Before prepping your unit for staging, attend open houses of comparable units so you know how your own unit will stand out from the competition. Avoid expensive upgrades. Partial staging and full cleaning will do the work.
Smart use of color can also transform a tiny condo into a fresh and airy space. Just enough furnishings and accents will give it the illusion of more space. A nice rug, a fresh coat of paint, and some fresh plants will pull everything together.
You can also take advantage of virtual staging. This is a new and less expensive tool to show the potential outcome of a space.
Begin with your sales campaign
Once your condo is glowing and ready for the show, you can now begin with your sales campaign.
This should emphasize your condo’s unique selling points. Your marketing campaign must include all the amenities available in your complex such as a fitness center, clubhouse, climbing wall, dance studio or even an outdoor fireplace. Showcase all the amenities in great and stunning photos.
Next is the asset of your unit that you want to play up like the great view, a newly modified kitchen, or a quieter location.
Another effective strategy is to tell the people within your network about your selling plan. Your prospective buyers could be referrals from your families, friends or workplace. There is more confidence and guarantee in this.
Offer Upgrade Credits
This is an incentive that will make you sell your St Petersburg downtown condo fast and can increase foot traffic.
With upgrade credits, home buyers have the option to make their own improvements to your unit. Home repair credit gives your buyer the option to get their own contractor do the repairs.
This will attract the soon-to-be homeowner to bring in their own sense of style to your home.
Offer closing cost incentives
Buyers in a tough market struggle to gather money for down payment and closing costs. Offering closing cost help will attract more buyers. However, some lenders have limiting condition on how much sellers can credit to buyers at closing.
Be sure to settle your condo association dues for the year.
Learn how to minimize listing costs
Skipping the real estate agent’s commission could also mean reducing the number of potential buyers and will make the selling process a lot more difficult. Instead of doing this, you can minimize listing costs by:
- Negotiating commission if possible.
- Do the staging yourself.
- Shop around for contractors to do the bigger repairs.
Estelia will sell ya!
The Mesimer Team – Service You Deserve from People You Can Trust.