8 Factors That Could Keep Your Condo From Selling
Selling your Condo can be emotionally charged at the best of times, but it’s particularly emotional when it seems like your Condo just refuses to sell…. sitting on the market and with few showings to count.
Well, there may be something wrong and usually it’s the price. However, there are many other factors that are keeping your Condo on the market or hurting how much people are willing to pay for your apartment.
If you’re thinking about selling or your Condo, consider whether one of these factors could be slowing things down for you.
1) The Pictures Are Bad
The most important piece of marketing real estate is photos. Buyers today begin their search online, and your listing photos are the first thing they see, and about the only thing buyers ACTUALLY time looking at when looking at Condos for sale.
You want crisp and clean images to showcase your Condo in it’s best light. If your photos are out of focus, pixelated, dimly lit, or just look bad - it just screams “we don’t care and we took these photos in 5 minutes with a cellphone”. If the photos of your Condo are bad, don’t be surprised when buyers pass on your property and show no interest. We live in a digital world, the photos need to be Instagram-worthy!
2) Amazing Photos Of An Average Condo
Sometimes even with professional help and a professional camera, the Condo still doesn’t look its best in the listing photos.
Before a photographer starts snapping photos, make sure your Condo is in pristine condition, has been staged, and a little “wow factor” has been added.
One of the main things buyers want to avoid when buying a Condo is buying something “cookie-cutter”. Do something to give your Condo some character!
With digital cameras it’s easy to snap a thousand photos and choose after. Make sure your Condo is staged and cleaned thoroughly. Doing this alone will make choosing the photos that highlight your homes best features a million times easier.
3) Showings Aren’t Convenient For Buyers
One of the absolute worst parts of selling a Condo is dealing with the showing process. It’s a massive pain. You have to keep the Condo spotless all the time, leave your unit at a moments notice, and let strangers trudge through your home.
Although you deserve sympathy as a Seller, it’s not easy being a buyer either. Buyers are usually trying to see several places in a small timeframe, typically in the evenings or on the weekends. Buyers are trying to make a massive financial decision after spending less than 30 minutes in a home, all while fighting traffic on the streets and in the elevators of the buildings they are viewing units in.
Ideally you should be as flexible as possible. If you’re dictating times that only fit your schedule, and not allowing people to visit your home in the evenings, weekends, or on short-notice - don’t expect buyers to fit your home into their schedule.
If it’s inconvenient to show a home, many buyers will skip your place to make seeing other properties simpler, meaning qualified buyers who’d love your house won’t see it.
4) Funky Smells & Annoying Noises
There are many things that turn buyers off, but few turn people away faster than funky odours or annoying noise. There are some things you just can’t do anything about - street and traffic noise for example - but anything you can do to freshen up and make your home serene should be done before any showings take place.
If you have pets, they have left a smell in your Condo. Address this issue (and don’t sic Lassie on the messenger) and think about keeping the pets out of the Condo during the time your home is on the market. Consider replacing any carpet in the home as well, as this will help remove any pet related odours.
If you are a smoker, people will be off put by the lingering odour that exists in your home. Talk with a Contractor about your options and consider removing all your belongings from the home. Cigarette smoke gets into everything - flooring, on the walls, wood furniture and cabinets, your mattress, et cetera. Addressing the smell is critical to you getting market value. Refusing to address the odour could cost you 29% of your homes market value.
Tip: Take it easy on the plug-in air fresheners and spray! Instead of “scent bombing” your house, open the windows and doors and air out the home. A single candle isn’t an issue, but people with sensitivities to perfumes and chemicals will have a hard time objectively looking at your home if they have a hard time breathing in your home.
5) Upgrades & Fixes Were DIY’ed
Okay, if your job title is “contractor”, maybe you get a pass here. Most people though who DIY things around the home will likely end up costing themselves money.
Even if your “fixes” look cosmetically okay, there is no telling what a home inspector will uncover - the last thing you want when selling is a home inspection report to kill a deal and have to re-list the Condo.
Before listing consider having a pro come in to make any necessary upgrades or fixes. This way you know all the issues that could kill a deal are fixed already.
6) Too Much Clutter
Okay, we’re not saying make your Condo look like you practice Japanese minimalism, but clutter and too much stuff draws the attention of a buyer away from the space.
Donate, pack a storage locker to the rafters, dump stuff at your parents house - just get the “extra” stuff out of the Condo… that includes the all the closest’s too! Buyers will open drawers and closets to assess storage space in the Condo.
Especially in small spaces, keeping it to just the necessary furniture for staging and enough items to “stage” the closest’s is all you should have in your home.
7) No Marketing Budget
Most people think selling a Condo is as easy as posting it on the MLS and snapping a few photos of the place.
The reality is there is so much “real estate noise” online that buyers can easily miss your home on the MLS. Some buyers may not know about your neighbourhood or your building, so their searches may not even include your home.
A little marketing can do wonders in getting people to visit your Condo. When you’re interviewing real estate agents, ask them about how they market Condos and if they have a marketing budget for their listings and where it’s spent. If they don’t have a plan or a paid marketing budget, it’s a sign you might want to try a different agent.
Pro tip: marketing is even more important with Condos. Many Condo buildings don’t allow open houses due to insurance and safety reasons. Open houses are usually one of the “top 3” ways an Agent will use to show off your home… with Condos this is typically not an option for you, making marketing even more important.
8) Social Media Ads Give Away Everything
Marketing professionals know that advertising is an art form. You want to give someone just enough to grab their interest and invite them to learn more.
Many times real estate advertising “throws the baby out with the bath water” - the price, all the photos, all the details are given to the buyer upfront. This may seem like a good thing, but it means a buyer has all the information and can make a quick (and potentially inaccurate) decision about your property. So remember, less is more - just a few of the best photos in a social media ad, a few key details, and a way for them to learn more about your home and book a showing.
Ask the Agents you are interviewing about how they market homes online.
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