Marketing Plans for Condominium Sales
Selling or renting out a property is always a tricky business, and if you are not careful, your property can end up staying in the market for too long, which will make it lose its worth and consequently you will have to sell it on much lower price than what was initially demanded by you. The key rule here is to get your property rented out or sold as quickly as possible by pricing it reasonably and marketing it well.
Educate Yourself
The first thing is to educate yourself about the recent prices and trends in the sales of condominiums, and the best way to do that is to check your local newspapers, where you need to be looking for condos which are not much different from yours. Observe how they are advertised and priced. It is very important for you to know your competition, since it will put you at an advantage once you place your property out in the market.
Always hire a professional to appraise your condominium; this way you can have a solid number you can negotiate around. It is important that you mention this value in your advertisement clearly; however, it would be wise to keep the selling price more than 5% lower than the other condos up for sale in your locality. In your advertisement, always mention any additional benefits of buying your property, which include its location, nearby shopping centers and facilities, or a locality with a low crime rate etc. This information should also be present in the flyers or postcards that you may use to advertise your condominium. You should use every promotional tool at your disposal for advertising your condominium, to make sure everyone gets the message that your condo is up for sale.
Make It Look Good
If your property looks good on the eyes it will certainly reduce the advertisement workload on you by automatically attracting a large number of potential clients. You need to give your condo a thorough look and see where improvements can be made. You should also check for repair work that is needed and get it done well before putting the condo up for sale. You can add a few decorations to enhance the overall beauty of the condo, which will work wonders for its sale. Moreover, if you have some extra cash, you can hire a professional interior decorator for an uplift project.
Offer a Realtor’s Bonus
Offer incentive to realtors as they can make your work very easy by approaching just the right people for the sale of your condominium. Adding a nice closing bonus for them when the sale is made will serve as motivation for them to get your condo sold at the earliest.
