Home Selling in 33432>Question Details

Julia, Both Buyer and Seller in Boca Raton, FL

I need to sell an apartment in East Boca. Besides pricing it lower, what other incentives work to attact

Asked by Julia, Boca Raton, FL Tue Aug 12, 2008

buyers? Any suggestions?

Help the community by answering this question:


EXPOSURE, EXPOSURE, EXPOSURE. Ask any agents you consider using how and where they will advertise your apartment. Tell them the best points to stress, and discuss anything a buyer might consider an objection. Your agent may have suggestions how to overcome them. The agent should present you with a list of solds (preferably in the last 3 months, but if there are none, go back to the first of the year and REALIZE that prices are down some from there) and also actives. Compare the actives with yours (e.g., waterfront view, floor number, updated and if so how much). Only compare units with similar sq ft and same # of bedrooms and baths. Consider ALSO the age of your building and how updated or renovated your building is compared to those that have similar locations. Buyers have mentioned all these factors to me. You can give 8% instead of 6% so both sides can get a higher commission, or a bonus to the selling side, but the real picture is how your unit compares to similar ones on the market and those recently sold, and then, as you mentioned, to price it lower. You can also say MOTIVATED SELLER, meaning you will negotiate down some. You can see my marketing plan at http://www.marilynjacobs.com - click on the red tab that says MARKETING PLAN, and compare that to others. If they "don't come close," contact me and I'll be most happy to work with you. A current condo listing of mine is just going under contract... after 21 days on the market - priced right, immaculate condition, not updated but move-in condition. Can't guarantee I'll "dig up" your buyer in 21 days, but I'll sure try my best and make a good analysis for you, and advertise it EVERYWHERE on the internet, where so many buyers I've sold have found me. Hope this info is helpful, and best wishes with your sale. MARILYN FARBER JACOBS, marilynfjacobs@gmail.com, 561-988-0070. Also see http://www.FLWaterfrontCondos.com - where so many of my current purchasers have found me.
1 vote Thank Flag Link Tue Aug 12, 2008
Dear Julia,

Here are a few ideas for you...

1. Price it Right
2. How are the pictures?
3. Brokers Open
4. Advertisements
5. List it with a trusted local Broker if you are trying FSBO....they could provide your condo with much greater exposure on a local and national level.
6. Offer a Buyers Agent incentive.
7 Stage the Property

Julia, good luck! These are just a few suggestions....

Always a pleasure,

Jen Sommers

Jennifer Susanne Sommers

Luxury Real Estate Specialist and Fine Home Management/Top 5 Producer
Nestler Poletto Sotheby's International Realty

200 East Palmetto Park Road, Suite 104

Boca Raton, FL 33432

Direct – 561-235-7777

Mobile/Text- 786-390-9299

0 votes Thank Flag Link Sun Aug 17, 2014
Hi Julia:

Have you listed it with a broker yet? I am assuming that you have and are not seeing any action. Have you looked at your realtors listing to see what he/she is advertising? Many realtors in the area are not very thorough in their listings meaning the amount of information that is in the listing, the photos that are in the listing, you would be surprised how many sellers do not actually look at the listing that their realtor has entered into the mls for them.

The other item is the condition of the property. The value these days are directly related to the condition of the property. You would also be surprised at the properties that are on the market that are just an absolute mess when you go into them. Little things like cleaning, (so that the place smells clean), removing clutter, replacing light bulbs that may be out, fixing anything that might be not functioning.

Of course if you are not getting showings, then this doesn't matter which is why I suggested checking on what your listing is actually showing. Are you communicating with your realtor and know if you are having showings on the property? You could be having showings and just no offers in which case you would want to focus on the second paragraph.

These are just some suggestions and without seeing the listing or the property it is difficult to pinpoint the issue. I would be more than happy to discuss this with you further and email you any comparable listings or recent sales in your development.

John Perkins
United Realty Group, Inc.
0 votes Thank Flag Link Sat Aug 16, 2014
There are a few tricks here...

I do agree - exposure, is at the top...

Get it SEEN - Get it SOLD...

However, there are other considerations -
How large is the development? How many units for sale?
Average DOM?

The reasons to know this is critical -
Buyers and seller can come from a multitude of sources...
This is why we expose where ever possible...
The best resource available is the local Realtor body...

By understanding the market - you can adjust the compensation, bonus and or price.
I think it is often less expensive to perform a combination of the above for a most effective approach.

Gary - 561.306.7653
Web Reference: http://www.garyyoungman.com
0 votes Thank Flag Link Tue Jul 29, 2014

Feel free to send me your email address, and I'll email you a list of recent sales in your neighborhood. This should help to give you some idea of value. Feel free to call with any questions.

Amy Givoni
Givoni Realty Corp.
Phone: 561-361-8555
Efax: 786-345-5806
Email: amy@givonirealty.com
0 votes Thank Flag Link Wed Dec 11, 2013
The number one reason property DOES NOT SELL is because it is OVER PRICED!

1-Price- No one will consider your home for purchase if it is over priced. Especially if they can get a similar home in the same area or same building for much less. Make sure your property is priced correctly and keep in mind properties usually sell for up to 5% under the listing price. You must be reasonable when pricing and negotiating.

2-Marketing- No one will come view the property if they don't know about it! Make sure you ask your agent how, when and where they market. What is there plan? Great agents always have a Marketing Plan and a process they go through to get a property sold. Also be willing to allow your agent to hold a brokers open, open house and do private showings.

3-Staging- It is very hard to sell a home that is empty, filthy, cluttered, lacking curb appeal and smells. Consider hiring a professional cleaner and get the property deep cleaned. Remove all clutter and personal items including family photos. If the property is is empty consider having a stager come in and add some key pieces, this helps the buyer envision how the property looks furnished. Property shows much better when its not empty.

Hope this helps!

Luxury Condominium & Fine Homes Specialist
OFFICE: 561.245.2635
MOBILE: 561.405.8661
0 votes Thank Flag Link Tue Dec 3, 2013
Seller paid concessions or pay for a membership to one of the amenities that the area offers. Also you could offer a bonus for any offer written and accepted by a particular date.
0 votes Thank Flag Link Tue Dec 3, 2013
Along with price the most important thing to consider in order to be successfull when selling any property is your marketing plan. What kind of exposure are you getting by your Realtor for the fee you are paying?
It always amazes me that people are willing to pay 6% for very little advertising and exposure when they can choose a different company, pay the same fee and have their property featured all over town. Always compare what each Realtor is going to do for you before you list your property. This could very well be the difference between selling or not and may effect the price you get for the property as well.

0 votes Thank Flag Link Tue Jun 25, 2013
Hi Julia!
Here are 6 reasons why a property doesn't sell:
1. A home is overpriced For example -- if your condo is priced at $260,000 and it should should be priced at $200,000 you will have great difficulty in this market as you will be competing with those priced at $300,000. You want to be able to compete with apts that are similar to yours.
2.Your apartment is not "showing well." Buyers are so picky these days! Make sure the apt is as clean as possible. Clean carpeting, removing clutter, etc. goes a long way.
3. Location.
4. An agent that isn't doing their best for you or not keeping your intended results as their top priorty. Pricing, marketing, keeping in touch with you, negotiation skills are top qualities you should look for in selecting an agent to represent your best interests.
5. No doubt we are in a buyer's market Anything you can do to overcome the other 5 reasons why your condo might not sell with certainly help!!! Also, we are faced with the current difficulty of buyers qualifying for mortgages; appraisers are looking at values with eagle eyes!
6. Ineffective marketing. I, personally, am amazed at agents and brokerages that don't have a comprehensive marketing plan in place. Look for an agent/brokerage that immediately place their listings through an automatic feed to all of the search engines, that "enhance" their listings with many photos, virtual tours, etc. Every available tool needs to be used to get a property sold!!!

I wish you good luck and I'm available 24/7 if you would like to chat.

0 votes Thank Flag Link Wed Aug 13, 2008
Hello Julia,

The best incentive would be'THE PRICE", nothing else will attarct Buyers like
pricing the property right , you will have to see what the recent sales were of comparable
properties, that will give an idea. Feel free to call me for a No Obligation, Free Market Analysis...

All the best,
Maria Ahmad - 561-445-3818
Email: m.ahmad@langrealty.com
0 votes Thank Flag Link Wed Aug 13, 2008

Look for an agent that has a comprehensive "marketing plan" that includes foreign buyers. t this time more then half of our buyers are foreign nationals that are looking to buy at the right time. Also look for an agent that has a successful selling history in your location.......a big listing history does not always identify an agent with the volume of sales you are looking for.

Be sure the agent has a massive internet presence since the vast majority of buuyers are looking on the internet at some point.

Hope this is helpful.

Good luck,
The "Eckler Team"
Michael Saunders & Company
0 votes Thank Flag Link Wed Aug 13, 2008
You can offer a home warranty or downpayment assistance. The 3 major factors in selling a home would be price, exposure and commission.

Let me know if my team could be of assistance in selling your condo.
0 votes Thank Flag Link Tue Aug 12, 2008
Herman Chang, Real Estate Pro in Palm Beach Gardens, FL
Hello Julia,

As an East Boca Raton Realtor and Marketing Specialist, my experience has taught me that the market affects everybody differently. On the same note, each property is unique and we definitely need to highlight the benefits of your property. There are two main factors that can determine if/when your property sells and those are pricing and marketing. Seeing as we are in a declining market and every area is affected differently, a more direct marketing approach is necessary and especially in the competitive condo market. It is a numbers game and the more reasons you give an agent to show your property or a potential buyer to be drawn to your property, the better. Incentives to the buyer's agents are ideal as well since many brokers don't split that with their agents. There are approximately 9,000 agents in our area so as you can tell it is saturated so an incentive to them can be beneficial. It isn't simply one thing and as an experienced agent and with Palm Beach County's leading real estate company, I am able to expose your property to more people locally, nationally and even more importantly today, internationally. A paper analysis on value for your property isn't enough because every property is unique. I would like to preview your property and show you in detail what is happening in your area. Since the market affects every neighborhood, area and property differently, I can narrow it down to several blocks so you can make the decision to sell or how much to sell a little easier. Without the tools, the information, knowledge and experience, it can be a long and difficult task with the saturation rate in some area exceeding a couple of years. Nobody wants to wait that long and I would hate for you to be a part of that list of people sitting and waiting. My goal is to help you MOVE FORWARD. Please, don't hesitate to contact me to talk further about your East Boca Raton property. Thank-you.

Stelios Stylianou, Realtor®
Marketing Specialist
Coldwell Banker - Residential Real Estate, LLC.
555 S. Federal Highway, Suite 100
Boca Raton, FL 33432
(561) 542-4131 (Direct)
(561) 392-1792 (Fax)

"Your Home, Your Future!"
"Your Real Estate Consultant For Life!"

Web Reference: http://www.stelsells.com
0 votes Thank Flag Link Tue Aug 12, 2008
It all depends what community in East Boca this condo is in. Prices are dropping more quickly in some communities.

What upgrades does the condo have?
What amenities does the community have?
How many other condos are for sale and what is the condition of those units?

You need to make your condo the most attractive unit in the area. Give me a call and we can discuss values in your community, and what the competition is. Ideally price your condo in the lowest range for the community. It is unlikely to get any showings if it is priced much higher than the competition. No showings means no sale.

Nadine Mauro
Regency Realty Services
1013 N Federal Hwy
Boca Raton, Fl, 33432
0 votes Thank Flag Link Tue Aug 12, 2008
What was once location now is replaced by price. It seems that price will overcome most other obstacles. I would add;
• Ease of Showing
• Tidy, Neat & Clutter Free
• Clean
• Odor-Free
0 votes Thank Flag Link Tue Aug 12, 2008
You can provide a realtor or buyers bonus, in many instances you maybe competing with new builders who have deep pockets for incentives given to buyers or agents.
http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Tue Aug 12, 2008
A local agent is going to give your best answers here, but nationally, the solution right now is price. Find the right price and you'll find multiple offers - it's happening throughout the country. Don't waste your money on gimmics that won't work.
0 votes Thank Flag Link Tue Aug 12, 2008
I definitely agree that price is a huge factor as well as your marketing plan. Another strategy to consider is to include a membership to a club like the Boca Raton Resort and/or a Bonus, which is paid by the seller. These two options are huge incentives to the buyer and the buyer's agent.
Flag Wed Sep 4, 2013
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