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How to Sell a Condo Quickly

Blog by Gaëtan Kill | January 31st, 2014

1zpt8i9_th.pngHow to Sell a Condo Quickly: How quickly a realtor is able to sell a condo depends upon a variety of factors.  In most cases, the condo market trends run inversely to the traditional single-family home trends as they feature a lower overall cost to own.  That is to say condos sell well when the home market is in a slump, and vice-versa.  However, when the time does come to sell, this can in some circumstances mean waiting for housing trends in an area to change, possibly taking months or even years.  For those looking to sell a condo quickly, this just won’t work, and they have to approach the problem more proactively.  Here are three tips that should help any realtor to sell a condo quickly:

  • Make Sure the Price is Right – Perhaps the single most important factor for those looking to sell a condo quickly is ensuring that the price is set appropriately.  Canvas your local area, and take note of recent sales and listings prices, paying careful attention to make sure that you are correcting for other pricing factors and variables such differences in location, condition, and overall size of the unit.
  • Actively Market to Prospective Buyers – You want to make sure to deal with a realtor who will step in and actively market your property in the correct fashion.  This means working with you to ensure that your condo is presented in the best possible way, taking advantage of advertising opportunities on the web and elsewhere, and frequently running open houses to showcase the property to potential buyers.
  • Sweeten the Deal with an Incentive – To really sell a condo quickly, you may have to sweeten the deal with an additional incentive, financial or otherwise.  Popular concessions include offering the buyer a closing cost credit, paying their condo dues in advance for them, including the appliances already installed in the unit, and other similar value-adding propositions.

Keeping these three simple tips in mind will make working with a realtor to sell your condo a quick and relatively simple process.  Remember that if your main interest is to sell a condo quickly that you will have to use the right strategy.  Price it right and try to generate a multiple offer situation,  maximize the exposure by hosting an open house on the first week end the condo is listed. Choose a realtor who is expert in the area and he will work with you to determine the best timetable to sell your property based on your personal needs and circumstances.