3 Tips for Quickly Selling Your Condo in Manhattan
Before you put your condo on the market to sell it, it is essential to know the unique selling points and challenges. The right price, marketing strategy and timing will all play a part in a successful sale.
The best time of the year to sell your condo is usually the spring. The holiday time can be especially challenging in Manhattan due to the brutal winter weather. The holiday time is also a very stressful and busy time for many people; the last thing on their mind is to move on top of all of the other holiday demands.
Appropriately Price Your Condo
Setting the right price will determine the amount of traffic you will get to the condo. If you price it too high, you may miss out on the optimal opportunity to get the right buyers in. If you price it too low, then you could lose a lot of money. Check other comps for your building as well as comparable condos in the neighborhood. Also, keep in mind that just because you put $100K of remodeling into the unit; does not mean that you can price your unit at an extra $100K. Your taste in flooring or expensive countertops may not match that of your “potential buyer” who may prefer a more traditional look.
How to Stage Your Condo
It is important to make your condo stand apart as there may be multiple listings in your building at the same time for the same floor plan. The first step is to thoroughly clean your condo or hire a cleaning company to do so. The next step is to declutter and get rid of excess things and any items that may make the condo look cluttered. Finally, you may want to hire a handyman or contractor to make any repairs that are necessary.
If you don’t have the time to stage your condo, you can also hire a professional staging company who can handle the entire process for you (some real estate brokerage firms offer this service as well).
Marketing Your Condo
Marketing is a critical part of getting your condo to sell. Evaluate what sets your building apart from other buildings in the area and showcase that. What amenities does your condo have that others would find desirable? What is unique about your neighborhood? Make a list and gather professional photos of the building, amenities area, and inside of the unit. It is best to hire a professional photographer; remember the images or video footage is what is going to captivate a potential buyer to come in and view the unit.
Selling Your Condo in Manhattan?
For more information, listen to our interview with a real estate expert on our podcast Coffeebreak With Sabra:
If you need assistance with real estate closings or handling real estate legal matters, contact Sabra Law Group today at (646) 472-7971.