Selling a condo is not the same as selling a house. Although there are quite a few common elements, buyers who choose a condo often have different needs and homeownership goals than those who choose a house. Selling a luxury property – whether a condo or a house – also has its own nuances.
To successfully sell a luxury condo in San Diego, consider these tips:
Work with the right Realtor
It takes years of experience to truly master the ins and outs of buying and selling condos, particularly luxury condos. This means you shouldn’t work with just any real estate agent that comes along. Choose a San Diego Realtor who specializes in condos and luxury properties, and is highly knowledgeable about the local market. An experienced Realtor will know the most appropriate tools and techniques to sell your property, and can use their widespread network to find the right buyer for it.
Stage your home
Home staging is very important in the luxury condo market. Since condos tend to look the same, home staging can make yours stand out from the rest. Proper staging can also make the space look bigger and more inviting.
It’s best to work with professional home stagers who know how to highlight your property’s best features while downplaying its shortcomings. You may opt to do it yourself, but make sure you understand what the process entails. Proper home staging will make it easier for buyers to see the potential of your home and inspire them to see themselves living in it.
Use professional photos
After you’ve staged your condo, have a professional real estate photographer take pictures to be used in your listing and other marketing materials. A professional photographer will know how to capture the property in the best light and come up with photos that will attract the choosiest buyers.
Price your condo right
Pricing a condo is often simpler than pricing a house because it’s easier to find “comps”, or comparable properties that recently sold in the area. The prices of similar condos in the same building and area should not be that much different from each other. However, certain factors can add value to your property, such as an added bedroom, kitchen or bathroom improvements, a desirable location in the building (for example, a corner unit), and great views.
Avoid overpricing as this is often the reason a property sits on the market longer than necessary. Ask your Realtor to help you in getting a property valuation and determining the right price for your condo.
Sell the lifestyle
Luxury buyers are not just interested in buying a home; they’re also drawn to the lifestyle that comes with one. In marketing your property, make sure to highlight the perks that come with living in it. Tout the amenities in your building, such as a swimming pool, a fitness center, a pet grooming service, and the like.
Additionally, play up the attractions and conveniences in the area. Is the condo close to offices, shops, and restaurants? Are there parks or recreation centers nearby? Is it a beachfront property or has good access to the water? These are the kind of features high-end buyers look for in a property.
Use technology to market your home
A large majority of homebuyers today start their property search on the internet, so it’s important to have a great online presence. Work with your Realtor in listing your home on the MLS, as well as the biggest real estate websites. Your Realtor may also have access to exclusive luxury real estate portals with national and international subscribers. These can give your property great exposure even to buyers in other states or countries.
The right buyers may not be locals and may not have the time to see your property in person. Make it easy for them to tour your home by using the latest technological innovations, such as 3D video tours and virtual reality tours. If you’re selling a condo at pre-construction, a 3D rendering can help buyers envision how the place would look when it’s completed.
Advertise on social media
With the phenomenal reach of social media today, marketing on this platform can help give your property the exposure it needs. You can advertise your condo in your or your Realtor’s social media pages, like Facebook, YouTube, and Instagram. It might also be worthwhile to pay for ads on these platforms. Social media ads are targeted to users who will likely be interested in what you’re selling, based on their profiles and internet browsing habits.
With over 25 years of experience, I can help you sell your San Diego condo at the shortest possible time and at the highest possible price. Explore your real estate options with Max Mervis of sandiegohighrises.com by calling 619.980.8385. You may also send an email to max(at)sandiegohighrises(dotted)com.