Selling Tips

Selling a condo, or any big ticket item for that matter, has become more daunting within the current economic environment. Over-construction, tougher loan restrictions and general economic uncertainty are just some of the obstacles facing sellers these days. In a time when most are liquidating assets and hoarding what cash they can, how can you still get a good return for your condo? While each unit represents its own unique set of accolades and challenges, here is some universally sound advice when it comes time to sell.

Before listing your condo, there are several things you can do to prepare for the sales process. First, gather whatever market information is available to you. This should include price information on comparable units, their length of time on the market, as well as any incentives which may have been offered to usher the sale. From this, you can get a real market estimate on your unit as well as its expected marketing period. Lastly, consider all that your unit has to offer in terms of amenities, proximities, and unique characteristics. Prepare a list of these qualities as they will become a handy marketing tool when listing your unit.

Once prepared, it is time to decide where and how to list your unit. The options available can be both confusing and frustrating.

The National Association of Realtors has found that 85% of all real estate searches start on the internet. This does not mean all internet property outlets will garner the exposure you are looking for. Take the time to think as a buyer would. Go to Google or Yahoo and search for a condo in your area. The top organic results will tell you much about where and how you should be marketing your unit.

Once your property is listed, continue to monitor the market information to maintain a competitive market position. Maintaining this position may include price adjustments or incentives. Consider all offers as both an offer and a market indicator, and adjust accordingly. Do not let low offers offend you as market conditions have effected buyer expectations. Even with this being the case, if you are patient, diligent and prepared to deal with the economy as it is, the right deal will happen.

If you need help or advice selling your condo call me today at 403-315-0568. I can help you gather comparable solds and market information.