Selling Your Grand Rapids Downtown Condo

 

Selling Your Grand Rapids Downtown Condo – Keep These Factors In Mind

 

Today’s Grand Rapids’ buyers have the luxury of being picky. They will be looking closely at your condo’s price and they will be looking closely at what condition your condo is in, what upgrades you have done and then they will be looking at your competition to compare.

 

Grand Rapids Home Evaluation #1 – Aggressive Pricing. As I mentioned on my Market Value page, in today’s Grand Rapids’ housing market, pricing your condo right, right at the start is the single most important thing you can do to drastically improve your chances of selling your Downtown Grand Rapids condo. Other important factors are involved to be sure, but pricing is the #1 factor.

 

In the larger condo developments we are seeing double-digit listings. For example at the Plaza Towers condos, there are currently 16 listings. Likewise at the other large condo developments like Boardwalk and Union Square condos, there are multiple condos for sale. That is going to mean competition for your listing and you need to be prepared. You have to be aggressive with pricing and you also have to make your downtown condo stand out. Buyers are informed and have many more tools with which to research other listings. (Your competition)

 

#2 – Showroom Condition. Make sure your condo stands out. It should really sparkle! Has your condo been updated? Buyers will have plenty of other units with which to compare it to and lets Hillmount Condosface it, most people don’t want to bother with having to update a condo when they can buy one already updated…unless it is priced to reflect that. The newer developments are putting in solid surface (corian and granite) counters and we are seeing a lot more bamboo. (If you’ve never seen Tiger Strand Bamboo floors, you must check it out). There are a lot more tile and slate floors and updated bathrooms, newer fixtures and kitchen hardware. The more you can do, the more attractive it will be to a potential buyer and the faster it will sell.

 

Team Work #3. Marketing. Your agent needs to know the competition and have a marketing strategy to get your condo in front of the maximum amount of people, 24/7. Your agent is there to sell your condo, not just list it. Anyone can slap a price on your condo and put it on the MLS but that isn’t going to help you sell it. It will only frustrate you. It’s better to get all of the facts right at the beginning, know the market value, the competition and your agent’s marketing plan.

 

 

#4. Factors to Monitor.

  • Price. If your condo is nice and the agent has taken lovely pictures, but it has been on the market more than a month without any showings, you need to take a hard look at the price. Your agent should be able to show you the activity your listing is getting from the MLS. Too many views and no showings indicate a problem that needs to be addressed.
  • Condition. Clean it up! Your condo must be in showroom condition when buyers are walking through.
  • Unclutter. Think positive - Start packing! The idea here is to allow the buyer to visualize their own possessions and furniture in your condo and that is sometimes hard to do when the walls are covered and the shelves are filled. In fact I recommend consulting with a Professional Home Stager. It is quite amazing what results you can get from just making a few subtle changes here and there. Although the dramatic can be used to great effect also. (I’d stay away from the tie-dye walls!)
  • Pics: Nice pictures make a difference. No pictures at all should be unacceptable. I know of buyers that don’t even bother looking at the property unless they have seen interior pictures first. It goes back to your competition. Similar condo in the same building but your competition has a nice selection of pictures and you have none with an average write up and the buyer won’t bother. I’ve seen that before.
  • Internet Marketing: According to the National Association of Realtors, 85% of buyers are starting their home search online and that is where your agent needs have your condo. A strong web presence can only increase your chances of selling. It’s a numbers game. The more people that see your condo, the better chances it will have of selling. You still have to price it right, have it in top condition, have the great pics etc.

Hope you found this helpful. For more information on my home selling techniques, please visit me online at GRRealEstateInfo.com or contact me anytime. If you’re going to sell your condo, you might as well have it on the best website in town!

Click here for information about staging your Grand Rapids home or condo.
Click Here for information on Grand Rapids Short Sales.
 

 

  

2 responses

21 12 2008
Staging Your Grand Rapids Home or Condo « Grand Rapids Real Estate Trends

[…] If you are a homeowner in the Grand Rapids housing market and are thinking about selling your home or already have it on the market, then this is a term that you are going to be hearing often. There […]

21 05 2009
Real Estate Prices Have Hit Bottom « Grand Rapids Real Estate Trends

[…] for homes online, visit my website or contact me any time. If you have a home or condo to sell, click here for more […]

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