Although Roseburg isn’t the condo capital of the world, we do have a few. Selling a condo is in many ways different from selling a traditional, single-family home. In fact, the condo market is pretty strong in some Oregon cities, but in Roseburg, you probably won’t be up against too much competition. That said, it is still important to follow some simple selling rules. To sell your condo, just like any other home, you will have to find a way to make it stand out from the competition. With that in mind, here are 7 selling secrets for condos in Roseburg.
1. Price It Right
This first one of our selling “secrets” for Roseburg condos applies to the sale of any kind of real estate. We’ve included here for condos because they are often times overlooked.
According to real estate pros, the “two most important factors in the sale of a condominium are price and marketing.” The two most common pricing mistakes are pricing too high and pricing too low. Many people make the mistake of pricing high in order to leave room for negotiations. But this can easily backfire because buyers have nearly unlimited access to information and will know that it’s priced too high and ignore the listing altogether. Other sellers price too low for a quick sale but with a similar result: buyers see the low price and automatically assume something is wrong with the property or that you might be a distressed seller.
When it comes to pricing, your best course is to have your agent help you arrive at market value by performing a comparative market analysis (CMA). That way you will know the price range from low to high because you will have a list of what comparable condos in the area are listed for and have recently been selling for. (To discover more about effective pricing, call 541-643-1131.)
2. Decide on Worthwhile Improvements
Regardless what kind of real estate you’re selling, you will more than likely need to make some improvements. This becomes one of our selling secrets for condos in Roseburg because, in order to get top dollar and maximize your profits, you have to decide which which improvements are worth the effort.
If you want to do this yourself, here’s what some industry pros recommend. I would recommend dropping by an open house or two of comparable units, or even homes. Knowing your competition helps. The best comps are properties that are currently listed in your area or development. Reviewing the photos of comps currently in escrow is also a good idea. This will give you a sense of what worked for other sellers and caught the eyes of buyers. It will also give you a good handle on what type of inventory you’re competing against. Put yourself in the eyes of potential buyers and think of improvements that will make your unit stand out from the competition or compensate for less desirable features.”
As an alternative or to get help on a strategy, feel free to reach out to me or another local agent who has experience selling condos. He/She will know what appeals to buyers and what improvements are really worthwhile.
3. Gather Documents and Check HOA Rules
Selling a condo can be vastly different from selling a single-family home, especially with respect to HOA regulations and documentation. As a result, gathering documents and checking HOA rules is among the selling secrets for Roseburg condos.
Here’s an example from a top real estate site. If, as is often the case, the popcorn ceilings in your condo contain asbestos, you may not have to replace the ceilings. “Your building’s homeowner association (HOA) may have already done a study to find out the percentage of actual asbestos in the ceiling. If the survey reveals that the actual percentage of asbestos in the ceiling falls within acceptable standards, you don’t necessarily have to remove it and can include the survey in your disclosure statement to the buyer.”
4. Determine Usefulness of Open Houses
Should you or should you not hold open houses? Conventional wisdom and many agents say you should. But it all depends on your goals and particular circumstances, for there are both pros and cons to open houses.
Many top agents argue against open houses because they don’t mean much to or sway serious buyers. “Simply put, the type of people who attend open houses are likely not the people who’ll end up purchasing your condo.” But there are always exceptions to such sweeping pronouncements. Open houses may, in fact, be an effective marketing strategy in your area. Contact your local agent to find out what works best.
5. Be Flexible About Showings
Another one of the not-so-secret secrets for condos in Roseburg is that you should be flexible about showing and accommodate buyers’ scheduling needs. “Restricting showings is one of the worst mistakes made when selling a property.”
Showings are almost always going to be inconvenient, but in a tough market, accommodation here could mean the difference between a sale and no sale. If you’re difficult to work with for showings, buyers may begin to wonder whether you’re really serious about selling – and look elsewhere.
6. Have Realistic DOM Expectations
Realistic expectations are important, too. You can’t expect to sell your condo within a week if it typically takes a month in your area. Experts recommend that you check the average days on the market (DOM) for real estate in your immediate area. That way you can align your expectations with reality and market accordingly. (If you’re not sure how to do this, contact a local agent at 541-643-1131.)
7. Hire the Right Agent
Finally, some selling secrets for condos in Roseburg are secrets because they are so obvious they’re often overlooked. And hiring the right agent is among such secrets. You simply must have an agent with ample experience selling condos. The Sky Team is ready to assist your selling needs. Just give us a call at 541-643-1131.