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How To Sell Your Condo Without A Realtor - Learn To Determine The Pricing
Are you ready to sell your condo? You could go through a realtor, but a lot of people don't like the idea of having to sacrifice a share of their profits to the realtor's fees. However, by sacrificing the realtor for the sale, you're not only losing some of the resources a realtor can grant you access to, but you're also losing the realtor's sales tactics-or are you? With resources like Condo Essentials at your fingertips, you can feel ready to sell your condo in no time. Here's a guide to some of the strategies you'll need to sell your condo the right way.
What strategies do you need to know to help your condo make the biggest waves on the market?
There are some pricing strategies that have proven effective when it comes to meeting the needs of both the seller and the property:
Listing your condo's price below the market value will get you immediate interest and a quick offer; it can also set you up for a bidding war that may still allow you to get the market price.
Pricing your condo at market value will lessen the time you need to wait for a buyer in a stable or rising market, but it also opens to door for negotiation.
Listing your condo above the market value with the expectation of negotiating down to market value can ensure you get the price you are looking for, but it could mean longer wait times to sell, and it may mean not getting an offer at all.
Based on the market you are in and the type of sale you are hoping to make, these strategies can each help you successfully sell your condo; however, while you do need to know the end result you are hoping for in order to determine the appropriate strategy to follow, there is one more important thing you need to know: how do you determine the value of your condo in the first place?
How to determine the value of your condominium
Fortunately, there are a few tricks that can help you identify the value of your condo. First, start with your building. Are there other condos for sale that are either similar or identical to yours? You can determine your condo's value by basing it around the prices of those condos. If there aren't any in your building, then look at similar condos in the same or similar neighborhoods. A real estate agent takes into consideration the price per square foot of recent sales when determining your condo's value; you can do the same.
Just remember that certain features will impact the value. For instance, the bigger the condominium, the lower the cost per square foot; and the higher the floor or the better the view, the higher the cost per square foot.
Exposure (which direction the unit faces) as well as layout and unit location (i.e.: corner unit) will also impact the value. The amenities and ensuite storage in the building, property access, parking, building reputation, ratio of renters to owners, outdoor space, ceiling height, and maintenance fees will all factor into the price of your condo as well.
How else can the value be influenced?
There are a couple of influences to your condo's value that you can actually control. For instance, showmanship. Your condo will price higher (with a better response to that price) if it shows well. That means cleaning, clearing out the clutter, staging, and baking those cookies so it smells as amazing as it looks. Requesting upgrades from the builder and doing your own renovations can also help your condo stand out from the rest and increase in value.
Of course, it's also important to remember that it isn't always about you. When it comes down to it, how well your condo sells is actually all about the buyer, and while you can control some aspects to make your unit more appealing, thus increasing its value, you are also going to have to compete with supply and demand, and with the potential buyer's overall ability to fall in love with your unit.
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