Home Selling in Richmond>Question Details

Relopro,  in Memphis, TN

Does anyone have any creative ideas for selling condo's?

Asked by Relopro, Memphis, TN Thu May 13, 2010

Are there any agents out there who specialize in dealing with condo's? Does anyone have any unique marketing ideas for this type of property?

Help the community by answering this question:


Other selling Ideas:

-In Georgia we can offer "BUYER REBATES" as incentives
-House raffles
-Develope a marketing plan that is directed towards the people most likely to purchase in that community.
0 votes Thank Flag Link Fri Aug 27, 2010
Relopro Hi!

Maybe try getting together with other listing agents in the complex and do a mass mailing and plan a special multiple open house - maybe a twilght progressive open house - something different - - work up a map showing all the listings that will be open.......have little giveaways - something to generate interest............we tried this in a complex near me...........played it up on the internet and locally.........at least it got noticed.

Print up property business cards (Xpressdocs in Texas is a company my company uses)................see if you can leave them in local restaurants, hair/nail salons........maybe even where bridal registries are (is this a complex for young people or empty nesters?)..........or at local gyms............sellers love these, too, as they can hand them out, and it makes them feel proactive.

Try a few ads iin local papers up north............there is a Boca agent who often advertises in our local paper - the rates are reasonable, and lots of people from my area move to Fl all the time.
Feel free to email me, and I will give you some names of local publications.
Try marketing to agents in my area, too..........seriously, so many from here are snow birds or soon-to-be retirees........it can't hurt!

If the condo shows well, you're ahead of the curve - if it doesn't, then consider offering a decorating credit...........maybe have a designer sketch out an alternate floorplan for furniture placement, and leave it in the home (maybe on an easel)...........many buyers don't have imagination. Since Fl is now in the slow summer season, you might get a reduced rate for a designer's help....and the designer might ultimately get a decorating job!

Good luck!
Debbie Rose
Prudential NJ Properties
0 votes Thank Flag Link Thu May 13, 2010
Some good suggestions from Barbara. (Hmm, 3 out of 4 of the answers thus far from Long & Foster agents. At least that tells you who has a strong presence in Virginia!)

You asked for creative ideas. First, Barbara's general advice about looking for nearby renters is excellent. Condos are often considered the first step up on the ownership ladder for renters. When contacting renters, make sure that's the approach you use. Do a separate series of promotions to owners in the building. They, too, may know someone who'd like to move into the building.

Barbara's suggestion regarding paying the condo fees: ("Buy today and the seller will pay your condo fees for the next six months!") is also excellent.

If the condo has a lot of amenities, make sure you play those up.

And this isn't an especially "unique" idea, certainly not to condos, but determine who the "ideal" buyer would be. Male or female? Young, middle age, or old? Is the condo near any particular location--a college or university? A big employer--a manufacturer, for instance? A military base? Who lives in the other units?

Understand, I'm not suggesting you engage in "steering" or in anything that in any way would even hint at discrimination. But develop marketing materials that would most appeal to that ideal buyer. There's nothing wrong in promoting a condo that's close to a university by marketing to parents with the message: "Why pay for 4 years of rent with nothing to show? Buy a condo for your incoming student. Build up some equity, and when your child graduates, you may be able to sell your investment for a profit."

Hope that helps.
0 votes Thank Flag Link Thu May 13, 2010
Don Tepper, Real Estate Pro in Burke, VA
Hello, Relopro,
There are certainly many good and creative ways to sell condos, even in this tougher real estate market. The first thing you always want to look at is how strong is the competition and, of course, how the condo is priced relative to the competition. Is the condo you are trying to sell competing with the condos that have been recently renovated or newly built and are those sellers offering incentives to buyers and their agents? Has the condo you are trying to sell been staged so that it shows well? Has the agent that you are listing it with done a virtual tour and/or video? Has the agent contacted the people in the complex to see if they know anyone looking to buy a condo in their community? Has the agent contacted the renters in the community to see if they have any interest in going from renter to homeowner? Has the agent contacted the renters in the nearby apartments to see if they would like to go from renter to homeowner? Could the seller offer incentives such as payment of the association fee for a long period of time? There are many many different things that can be done, but much will depend upon how the unit is priced, how it shows, how it is relative to the competition and many more things! If you are currently thinking of listing a condo for sale, I welcome any questions you may have, so please don't hesitate to call on me. Good luck with the sale of the condo.

Barbara A. Reagan
Long & Foster Realtors
Cell: 804-869-1191
0 votes Thank Flag Link Thu May 13, 2010
Certainly, Contact me at 877-360-3636. Do you have a buyer or seller in the Richmond, VA area?

Mason Packard, ABR, GRI, Realtor
Long and Foster Realtors

*Licensed in the Commonwealth of Virginia
Web Reference: http://www.masonpackard.com
0 votes Thank Flag Link Thu May 13, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer