Coldwell Banker Residential - Developer Services Division

TOP 10 WAYS TO PREPARE YOUR CONDO FOR SALE

  1. PRICE IT RIGHT. Even in a good market, a reasonable price is important. It’s better to have multiple buyers interested in your condo and thinking “what’s it going to take to get this home” vs. a limited group of buyers saying, “I wonder what they would really take for this over priced home?”
  2. GOOD PHOTOGRAPHY. Make sure you have professional photos and/or videos to show off the interior and exterior features of your condominium.
  3. FINANCING. Identify available financing for potential buyers. Different condo projects have different kinds of approvals. Many condo buyers get frustrated when they find out that they can’t get financing for the condo they want through lenders on the internet. Know your potential buyers options.
  4. VALIDATE HOA DUES. Be prepared to share with potential buyers why the HOA dues are actually a good value compared to single-family home ownership costs. Know what all is included in the monthly fee.
  5. PROVIDE INFORMATION ABOUT THE HOA. Is the homeowners association in good shape? Are there reserves or any special assessments? A copy of the current and last years budget can also be helpful.
  6. WHY IS THIS CONDO SPECIAL? Even though your condo may be one of 278 in the same complex there is probably something special about it. Take a few minutes to think about those unique selling points. For example: top floor, first floor, mountain views, city views, garden views, south-facing deck, west-facing deck, east-facing deck, new appliances, fixer upper, close to pool or clubhouse, you get the idea. I can help you find the uniqueness of your condo.
  7. KEEP IT CLEAN. If you are currently living in the condo, take the time to declutter and put extra effort into keeping it as clean as possible for those important showings. If you have a tenant, I can help you come up with an incentive for them to keep it neat and clean.
  8. MAKE SHOWING EASY. Don’t require 24-hour notices for showings. Instead, be cooperative with showings whenever they might be. If you’re not home, then no problem. If you are home, take a stroll and give the buyer, and their agent, a chance to feel at home. Don’t make them wait a day or two to see your condo. If you have a tenant I can help you come up with an exciting incentive to make them WANT your condo to sell!
  9. CONSIDER MINOR UPGRADES. Walk in to your condo and pretend it’s your first time looking at it. Is the carpet so old and stained that it makes the place feel “dirty?” Does it need paint? The cost of replacing carpet and a new coat of paint can be the best investment you can make. If there is anything else that jumps out at you as being an objection, then consider replacing or upgrading it.
  10. HIRE AN EXPERIENCED AGENT. There are specialists in the legal field, the medical field, and in almost every line of work think about your profession…are you a specialist? Doesn’t that make you uniquely better at what you do than those who don’t actively do what you do? It’s the same in real estate. I don’t sell commercial buildings, lease retail space, show property in the mountains. I specialize in selling condos. As a result, I have a tremendous amount of experience in almost every situation that can come up in the process of selling a condo. I’ve been hired to sell many entire condominium communities so I assure you I can help you sell yours. Simply knowing how condominium associations work and knowing the real benefits of condominium ownership can be a real advantage. For example, your agent should be able to explain to you why HOA dues are actually a bargain.
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