The London Condo Professionals 
Ty Lacroix Broker of Record 181 Commissioners Road W London, ON N6J 1X9
Phone: 519-435-1600 Email Ty

The 12 Step Condo Seller Best Practices


   Regardless of the present condominium market, (which is quite good, by the way!) to maximize your condo's selling price there are steps you can take to ensure that your condo sells in a reasonable time, reducing stress and maintaining control.

                          12

 1 Keep the reason you are selling to yourself and your professional condo lister.

 Do not reveal your motivation for selling to anyone else because they may use it against you at the negotiating table. When asked, say that your housing needs have changed.

Different goals will dictate different strategies

 What is more important to you: the money you walk away with or the length of time your property is on the market or both?

Do your homework before setting your price

  The average buyer will look at 15-20 homes before making a decision. That buyer will now have a basis of comparison, and if your condo does not compare favourably with others in the price range, you will not be taken seriously by prospects or their sales representative. The result can be that your condo will sit on the market for quite a while and knowing this; buyers will think there is something wrong with your condo.

Oh no! More homework!

(An excellent professional condo lister should do this for you) Find out what condos in your neighbourhood have sold for in the last 6-12 months, and what is now listed for sale and at what price. That is how prospective buyers and their Realtor® will assess the worth of your home.

5 Maximize your condo's potential

  You may not be able to change your condo's location or floor plan, but you can do a lot to improve its appearance. The look and feel of your condo generate a more significant emotional response than any other factor. Before showings, pick up, straighten up, unclutter, scrub, scour and dust. Present your condo to get a "WOW" response from prospective buyers. Allow the buyers to imagine themselves living in your condo. The decision to buy a home involves emotion, not logic.

                                     cleaning your condo

Choosing a Professional condo Lister

  The person you choose to market your home are partners with you and as you know by now, not having the right partner can be costly and time-consuming! Questions you may want to ask a Realtor?

 Make it easy for buyers to get information on your condo, 24 hours a day, seven days a week.

  Buyers are calling for information on your home; value their time as much as you do. They also do not want to be hassled or frustrated because they cannot get a hold of your real estate person or that some of the information in your listing is incorrect. Over 97% of condos are previewed over handheld devices, smartphones, tablets and desktops!  Make sure who you choose to market your condo has a presence in all four models!

Try not to leave the condominium empty.

  Studies have shown that it is more difficult to sell a condo that is vacant because it looks forlorn, forgotten and simply not appealing. As well, buyers may think because it is empty, you are motivated to sell fast and for a lower dollar.

Deadlines can be a serious detriment

  Don't try to sell by a specific date. Deadlines can add real pressure on you and even harm your negotiating strength.

10 Keep emotions in check.

    Do not be offended by a low offer or specific demands from a buyer. A  professional condo lister can turn negatives into a positive. You may have an advantage over others who get caught up emotionally.

11 Be wise-disclose

   Be proactive, by disclosing any problems or defects; you are giving the potential buyer confidence that you are not hiding anything. Disclosures will prevent any liability or legal issues to follow. I even get a status certificate and pay for it so that a buyer and their lawyer do not have to wait ten days to say yes or no, and for my clients, we cut down on the limited time or eliminate it all together.

12 Ensure your offer is correct and complete

   Ensure that all terms, conditions and responsibilities are spelled out in the offer and that you fully understand them. A professional condo lister will take the time to educate you on the circumstances and terms and will insert additional clauses if required to protect you further.

.offer on your condo

 

   One of our company's principles is that we take the time before we start to market the home to discuss and review the pros and cons of different strategies and walk you through the steps of the selling process so that you are comfortable and more knowledgeable.

  Over the years my clients have said they were more at ease with the process and quite pleased with the results!

 


The First 10 Days Are Critical When Selling A London Ontario Condominium


  When selling a condominium in London Ontario, the first ten days are critical and will make the difference how quickly it sells and for how much!

          Condos in London Ontario being sold

 

   The most critical time for a new listing in London Ontario is two days before it officially goes on MLS and the eight days after!

 

    Why two days before? I have found that when we have prepared and gathered all the necessary marketing tools the following happens:

 

  • The documents are completed accurately and thoroughly, no mistakes or missing information & care can be taken to describe your property to prospective buyers.

  • All the pictures are taken, edited or retaken to show your home in the best way possible way.

  • All the marketing material is ready such as feature sheets, your "Buy me" binder, your www.youradress.com webpage and cards!

  • All the websites are loaded, social pages, virtual tours are ready

  • You can do the final touch-ups or any cleaning that may be required.

  • The For Sale sign is up, and any directional signs if needed are placed

 

          Your house on MLS

 

  Day 1 to Day 8:  

 

    This is when buyers and their Realtor are searching the Internet for buying a condo in London Ontario and certain streets for something new when excitement is the highest. You can now:

 

  • Be ready for all showings, have all the marketing materials and property information prepared for that one buyer who loves your place!

  • You have at least one weekend when historically property viewing is the busiest.

  • If no serious offers, the pricing may be wrong or if not enough showings, the marketing needs to improve after ten days!

 

 Once day 11 starts, do something drastically to attract new buyers!

 

  The way a transaction starts is indicative of how your sale will go, quickly or a long rocky road before you sell your home.

                   

 Listing with an active listing Realtor who has a reputation for being thorough will never do you any harm. Who uses the web to rank high in all search engines, has an above average follow up system and the finances to market your property.

 

   Ensure that before the sign goes up and the listing gets to the MLS, everything from the lockbox, listing brochures and presentations is in place and ready to go. Make sure your listing Realtor has a system to let you view the comments and feedback about your home on an individual listing website. Do they have a checklist (we have 201 items on it) that they share with you before it even gets on MLS?

 

   Do not allow average to get you average results!

 

     In summary, the most crucial time for a new listing when selling a condominium in London Ontario is BEFORE it gets on MLS.

 

   Get Your Home Sold

 

 

How do I know this? We sell a lot of condos, we know what works!


Inside Scoop On Selling Your Condo


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