Help! I want to list my condo, but what should I do? Sound familiar? Let’s walk through the steps to listing your condo, how selling a condo is different from selling a house, and why you should list your condo with Real Condo Experts.
List My Condo? Yes! And let Real Condo Experts help you.
List My Condo
Steps to Listing Your Condo
– Check other listings in your building and other comparable buildings so you can price your condo competitively
– Check the state of the real estate market to locate interest rates and what consumers are looking for. Read more from Real Condo Experts.
– Prepare to choose a real estate agent (see step #3). Research individual agents from the top local real estate companies. Look up their profiles and read their client’s reviews. You can also attend open houses and monitor how effective a company’s marketing plan is.
Always do some research before listing your condo.
2. Pick a Time to Sell Your Condo
– If you are not constrained by other schedules and have some flexibility, try to wait until Spring to list your condo. Generally, the slowest months for real estate in Toronto and the surrounding regions are Winter months like December and January.
– After researching the market in your area, you will have a better idea of the overall competition. The more units like yours up for sale, the longer your condo will probably take to sell.
Spring and Summer are generally the best times to sell a condo.
3. Choose an Agent
– After researching real estate companies and agents (see Step #1), ask for input from family, friends, other clients, and other professionals.
– Interview a potential candidate and check with them to see what their knowledge is of the local real estate market for selling condos. Also, make sure they have a solid marketing plan and have professionals ready to assist with photography and staging.
4. Prepare Your Condo
– Keep your condo clean and well-maintained. Don’t let that first impression slip away from you.
– Generally, “condos tend to attract people who aren’t interested in a fixer-upper, whether they’re young professionals or people in midlife who’d like to downsize” (https://www.homelight.com). Therefore, make your condo look presentable.
– Declutter in order to maximize the space you have available.
– Lighting and paint colour can also make a room appear larger, so keep your rooms well-lit and avoid darkening rooms with paint or heavy draperies.
– Make your condo an inviting space for guests by adding fresh flowers or plants and keep the air fresh by eliminating strong odours.
Make sure your condo makes a great first impression when potential buyers come for a tour.
5. Set Your Price
– While difficult to do, setting the right price for your condo is essential. Your real estate agent will take into consideration the supply and demand for condos like yours and will know what strategy to take, whether it is to price at market value or to price for a bidding war.
– If you do sell your condo on your own, be realistic and don’t try to price your condo too high, especially if there is a lot of competition.
– The following perks may allow you to set a higher price for your condo:
- Ideal views (parks, water, nature, city lights, etc.) or exposure (North, South, East West)
- High ceilings
- Ideal layouts (more usable space, open-concept, etc.)
- Corner units
- Upgrades/recent renovations
- Amenities (parking, locker/storage space, pool, outdoor spaces, etc.)
- Lower maintenance/condo fees
- Reputation of your building and condo association
Make sure to market your unit’s best selling points – like high ceilings in this condo!
6. Market Your Condo
– Be sure your agent uses a professional photographer and/or videographer so that your condo is highlighted at its best angles.
– Make sure your condo is getting noticed online, in print, through open houses, and through general networking.
– Play up the amenities in your building! Highlight those perks. If someone is used to renting, they may not have had their own laundry space before. Maybe your condo has indoor parking, so that means no more snow to clear. Don’t forget to highlight your storage space as this is something empty nesters will be concerned about if they are moving from a larger home into a condo.
– When you do have an open house, leave the condo so that potential buyers do not feel pressured to fall in love with your condo right away. Be flexible with timing and notify your concierge and neighbours about visitors. Consider leaving your guests a parking space, too.
– Provide your realtor with a key to your condo and any amenities in your building so that things run smoothly and potential buyers have full access to viewing your condo.
And remember to also market your condo building’s amenities!
7. Make a Deal
– Let your realtor negotiate any offers with buyers, but be ready to make the final decision on what you are okay with (conditions, closing dates, etc.).
– When your deal is finalized, make sure to book the elevator for your move out and inform others about your move (property managers, utility and phone companies, insurance companies, etc.).
Differences Between Condo Buyers and House Buyers
Keep in mind that selling a condo is different than selling a home. Here are some things to remember:
Condo Buyers Look For:
– Convenience, little maintenance, and access to amentities like fitness facilities, terraces, or security
– Location, ideally in close proximity to public transit, recreation facilities, entertainment, or work
-Affordable rates (Let’s face it, the prices of houses these days are through the roof!)
House Buyers Look For:
– Control over the maintenance done to their property
– Space and room to grow a family or have guests over
Why List My Condo With Real Condo Experts?
Real Condo Experts have expertise in the Kitchener-Waterloo real estate market. They have friendly and knowledgeable staff that will help you list and market your condo effectively. They will guide you through all the steps in selling your condo and will sell your condo at a price you deserve.
Have a look at the following testimonials to see for yourself why you can trust the Real Condo Experts.
We used Jason O’Keefe to previously sell our home. He has also sold a few properties for my parents after working with us. We found Jason very knowledgeable about real estate. The best part was how helpful he was. He was always ethical and honest in providing advice. We have reached out a few times since selling our home previously, for advice and Jason was always quick to assist us. The service KW Listings provides is solid and I highly recommend them!
– Sherry Chisholm-Kihut
Knows how to listen. Gives his clients 100%. Keeps in touch. I would very definitely get Jason again. I have no hesitation recommending him as an agent. Gets the property sold. Jason, you can certainly use me as a reference. If potentially new clients would like to call me that would be great. Take care. I’m ‘singing your praises’ all the time. Good luck!
– Joan S.