Tips for marketing your condo: Spotlight your unit, feature perk, Purchasing condominium unit tips
Tips for Marketing Your Condo: Spotlight Your Unit, Feature Perk
10 Oct 2022
If you plan to sell your condo, expect some tough competition. With how market prices are right now and what people are looking for, it might be a little more challenging to sell your property. However, putting more effort into your marketing can help you find a buyer. Here are some ways to market your condo and feature it better than the rest:
It’s All About the Pricing
The first thing buyers would look at is the pricing of your condo. Some condos will feature larger spaces, better views, or lower floors to ensure the buyer understands why it is a little more expensive.
If you sell your condo at a higher price, it will become less attractive to buyers as they would be able to find one similar at a more affordable price. You can raise or lower the cost depending on your condo’s features that other condos do not.
Look at places close to your condos, like supermarkets and hospitals, as they tend to sell more. Considering convenience, safety, and parking, is it pet-friendly? You need to feature anything that might give you an advantage over other condominiums with the price.
Be Realistic with Your Comparisons
Knowing about the CMA (comparative market analysis) and how agents use it to compare condos in the area that are for sale will help you with your pricing decisions. Appraisers use this technique to ensure that you are not selling your condo above your property’s fair market value.
Supply and Demand
Supply and demand still play an essential role in selling property. Certain seasons show a higher need for condominiums. You should follow the level of demand for condominiums and not hesitate to base your prices on it.
Ensure Smooth Move-Ins
As someone who plans to sell their condominiums, you must ensure that the condo is ready for a move-in. You cannot expect anyone to find a condominium appealing if they find out they must wait for weeks before they can move in. Some buyers need to move into the unit as soon as possible, and not making it accessible can lose you to some potential buyers. Do not put buyers on the spot by showing them a condominium they want to own and not giving them control over when they can move in.
Another thing you can do is highlight the amenities that come with your condominium. Does it have a pool? A gym? A basketball court? Anything that can give you leverage over other places can be helpful. Highlight these in the advertisements and even when potential buyers view the site. You can also tour the area while discussing what they can get with the condo.
While amenities are welcome, they also come with maintenance fees that a condo owner must pay monthly. It would help if you highlighted them to ensure the new owners know and understand what they are paying for. It can be maintenance fees for the usual utilities like electricity, heating, water or plumbing systems, and more. For additional convenience, install an insulated access panel that will not only conceal these utilities but also makes them more convenient for maintenance and cleaning.
Make It Look Spacious
Another thing you can do to catch the eye of the buyer is to make the condominium look more spacious than it is. While condominiums are known to be small spaces, there are many ways to conserve space and ensure that the owner can move around freely while having everything they need for their daily living. It is not only about the design of the place but also how you position the furniture and other appliances. Consider hiring an interior designer to help.
You can even add some additional storage spaces that will not take up so much space that it will make the condominium feel small. Consider installing guide to soundproofing your floor that someone can use for storage. You can also make nooks and crannies seem more spacious by not filling them up with ornaments or other items.
Introducing Some Extra Features
Another way to highlight your condo is to introduce something that is not as common in condominiums. One thing you will find out about condominiums is that it is often hard to maintain privacy, being so close to other units. Consider introducing some soundproofing features to your buyers. You might know how to soundproof your walls, but here is a guide to soundproofing your floor.
Consider the needs and wants of potential buyers before placing your condo on the market. Step into their shoes and offer them the things that they will need that you can find on your property. Most people choose to buy a condo rather than rent one or buy a house because it is less pricey and more convenient. Condos appeal to most people, even young families, especially singles or couples. Marketing it to a specific target audience will help you ensure a buyer.
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Housing project “Der Rosenhügel”, Vienna, Austria
Design: ARGE Berger+Parkkinen architects with Christoph Lechner & Partner, Vienna
photograph : Daniel Hawelka
Der Rosenhügel Housing Vienna
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