When you want to sell your Ocean Edge condo it requires a lot more than finding a real estate agent on Google in your area and putting it on MLS. To be successful in selling your home for the right price, a seller needs to understand where buyers are coming from in order to get the best price. Many sellers believe that their condo is the best on the market, so of course many buyers are going to be interested in purchasing it. Maybe there will even be a bidding war because their house is such a great buy. They love it after all, why wouldn’t the next buyer? Unfortunately, this is often not the case and many homeowners settle for selling prices below what their home is worth because they just want the process to be over already. How to do you avoid this from happening to you? Follow these 5 steps to make sure you sell your Ocean Edge condo above market price.
You might not think of approaching investors initially when you put your home on the market, but they are a great resource to look into once you make the decision to sell your Ocean Edge condo. Properties at Ocean Edge are great investments. As you may already know, many of the condo owners use their properties as income properties instead of their residences because of all of the potential for summer rentals. Investors know the value of a condo unit at Ocean Edge, and are often looking for the next great investment that guarantees a profit. Check out the investment potential of condo units when they are used as summer, winter and yearly rentals. Leighton Realty has a rental division that would be happy to discuss with you what your property could yield for an investor. You would want to do this beforehand, so when you approach someone who is interested in your property, you have the knowledge to present to them and know what your condo’s investment potential is and you get a fair price.
Price Below Market Value
This sounds counter intuitive, but it is one of the best kept secrets in real estate. If you price your home lower than the market value, you will spark interest in your property. Typically, you wouldn’t want to lower your price more than 5-10% below market value. This is just enough of a reduction for multiple buyers to become interested in your property, and want to jump on this bargain as soon as possible to beat out any other buyers. This is what usually causes bidding wars to start because the buyers are so excited to find such a deal, and do not want to lose it to another buyer. Once offers start coming in, you have the right to counter and also let the agents know that there are multiple offers on the table, so they should make their best offer to potentially get the property. Sometimes buyers are so caught up in trying to win, they offer more than what the fair market value actually is on the house, giving you a decent profit. Check out the latest Ocean Edge Market Reports.
Wait for Offers
Do not feel pressure to accept the first offer you receive when you try to sell your Ocean Edge condo, no matter how great it is. Let the buyer know by not accepting right away that you realize your property’s true value and potential price so you will not settle. After some time looking around at other properties, the original buyer could come back with an even better offer once they realize your Ocean Edge condo is truly one of a kind and they won’t find anything like it in their budget. Giving your property time on the market will give more buyers the opportunity to view your condominium online and check out your open house. This will give you the opportunity to receive more offers and sell your Ocean Edge condo above market price.
Stand Out from Comps
Watch some home improvement shows, pick up some magazines to see what the latest trends are and see how your condo stacks up. In order to get top dollar for your home, you need to make sure you have what it takes to demand that price. Seeking the advice of a knowledgeable and skilled real estate agent will help you make the right home improvement choices, as it can be overwhelming. With so many choices as to where to invest your money in renovations, it is easy to invest in the wrong area which eats away at your profit instead of add to your bottom line. Some renovations could boost your condo’s value by up to 10%, which is a good profit if you can keep your expenses low. One easy way to cut the cost of your renovation is to do the work yourself. Take the time to talk to your real estate agent where to focus your attention to get top dollar and be realistic with what you can do yourself and what you should hire a professional to take care of for you.
Highlight Key Features
Potential buyers need to know what makes your condo stand out from the other units that are for sale at Ocean Edge. Do you have solid flooring? A straight staircase? Renovated chef kitchen? Beach access? You need to make sure that this is highlighted in advertising when you sell your Ocean Edge condo unit so that it draws in buyers. Highlighting what makes your home special will make buyers more at ease to make an offer because your home is different from the other homes they checked out before your condo. Pay close attention to the wording of your blurb that describes your Ocean Edge condo and make sure the pictures are clear and appealing. Pictures are what sells a home. If the pictures are not good, buyers will not make a point of looking at your home. Millenials for example, rely heavily on pictures when buying a home. Learn more by reading our blog, How to Appeal to Buyers of Every Generation. Highlighting the right features will sell your Ocean Edge condo above market price.
Sell Your Condo Above Market Price
These five tips to sell your Ocean Edge condo above market price will not only get you top dollar for your home, they will also decrease the amount of time your home sits on the market. Generating buzz about your home by decreasing your price, making renovations and highlighting key features will get more traffic through your front door and sell your house fast. Figuring out what makes a home buyer tick is the first step in selling your home for a profit.