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5 Mistakes That Can Keep Your Condo from Selling

By Mike in Selling Tips with 0 Comments

A successful condo sale is about far more than finding a qualified buyer. The ultimate goal of these efforts is to collect optimal returns on your investment while making it to the closing table within a reasonable amount of time. Sadly, there are a number of common mistakes that can cause sellers to undermine their own goals and weaken their listings. Following are several mistakes to avoid along with tips for keeping the sales process on track.

Opting to Sell Without Agent Representation

While selling without agent representation will allow you to sidestep agent commissions, you could win up spending and losing money in other areas that will more than offset these savings. Agents have access to sales data that’s not readily available to the general public. This makes them far more adept in pricing condos accurately and in determining whether or not now is really the best time to list your downtown San Diego condo for sale. Agents know the best strategies for staging and marketing these units and can make sure that your listing is both accurate and rich with appealing images. It’s also important to note that not just any agent will do. The best agent for your condo sale will have an expansive knowledge of the neighborhood, the top community features and the types of buyers who are most likely to show interest in your condo.

Under or Overpricing the Listing

Condos and lofts that are priced just right from the outset tend to sell far easier and for far more than listings that have to be pulled, modified, and relisted at a higher or lower price. Changing your listing price will stigmatize your condo and make prospective buyers leery. If your target sales price is significantly higher than your downtown San Diego realtor has recommended, now may not be the best time to sell.

Lack of Transparency

Any needed repairs or aesthetic issues that your condo has should be reported upfront. Failing to make the necessary disclosures from the outset can cause serious problems further down the road. Sellers should bear in mind that even the most strategic staging efforts can’t hide these problems forever. Whether they’re discovered during condo inspections or walk-throughs, they’re bound to get noticed. Being forthright about the condition of the condo will establish trust and open the door to negotiations that could lead to a successful sale, without having to pay out of pocket to spruce things up.

Not Considering the First Offer

While the first offer may not be the only offer you get, it is definitely worth consideration. Any offer you get on your place is an excellent starting point. Sellers should always consult with their agents about the feasibility of holding out for higher offers before turning down the first willing investors outright.

Failing to Make Sure You’re Actually Ready

Before you even list your condo, make sure that you have a solid exit strategy. Your listing may garner attention as soon as it goes live and you want to be ready to take up residence elsewhere and start pursuing your post-sale goals. Once you do connect with an agent, have this professional make a list ofrecommended repairs and upgrades for increased marketability. You should also begin the arduous process of de-cluttering and depersonalizing the unit so that it’s guaranteed to make the best impression on prospective buyers.

Ready to find a new place? Check out our inventory online showcasing penthouses, lofts, and condos for sale in Cortez Hill, Little Italy, East Village as well as other areas of downtown San Diego. If you find something you like or need help kicking your search into high gear, call our office today at (619) 649-0368! ')}