Home Selling in Venice>Question Details

Vicki C, Other/Just Looking in FTW, TX

Venice, FL Condo -- need some info/advice

Asked by Vicki C, FTW, TX Thu Jun 26, 2008

My daughter and SIL have 1/1 condo on Venice Island--just across street from Venice Beach--listed since Memorial Day--maybe little before--realtor has had two open houses--second one had good traffic and very positive comments but no followup from viewers--she herself seems to do little to market the house--can't even find it on Trulia--there is at elast one in their bldg listed w/different realtor which does come up...
they signed a 6 mo lease because she told them that was standard for area and the market was slow...
but she does not seem to be doing anything to SELL the condo--
What SHOULD a realtor be doing in a slow market? This one has taken ONE person/buyer through.
Has the condo market picked up any in Venice?
They know the big drawback is that it is a 1/1 and most people want at least a 2/2---
it has been updated and shows well--other units for sale in their bldgs are more dated...
any suggestions--what can they do to help themselves?

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Answers

7
Hello Vicki,
Has your daughter and SIL spoken to their agent about their disappointment? Every agent around would be willing to help them but they did sign on with their current agent and that's where their conversation should begin. An updated market analysis would be in order and exposing the property on as many internet sites possible is important. But most of all, pricing is critical. Regardless of the unit being updated, it must be priced based on other 1/1 units. We all think our property is better than most. Let go of personal points of view. Have them sit down and have a serious conversation with their agent about where to go from here. A good agent knows what to do.

Theresa Brown
Michael Saunders & Company
Cell: 941-350-5005
theresabrown@michaelsaunders.com
0 votes Thank Flag Link Wed Oct 7, 2009
Dear Vicki,
The condo market in Venice is still "challenging". If they have had positive feedback and showings, but no offers, the unit may be overpriced. What their agent should be doing is her homework, a CMA which reflects sold units in the last few months, and properly advising her client on pricing, even if it is not what the client wants to hear. It is still a buyers market, with a huge amount of condo inventory! As we head into season, the unit should be priced competitively to catch the early birds! If your daughter would like help with this, and wants to work with an agent who will do her homework, and open house the condo UNTIL it sells, as well as expose it to as many buyers as possible on the web, give me a call!
Heather Martin-Realtor
Michael Saunders & Company
cell 941.416.0230
0 votes Thank Flag Link Thu Aug 13, 2009
Property MUST be on all the major search engines and web sites! Ask your Realtor the sites your property feeds too. NOT just from the MLS feed. There are specific European, UK and sites that foreign Buyers search. GET IT PRICED --RIGHT. Ther are Buyers here but it's all price point driven. Good Luck!
Jim Soda Group 941-809-7759
Jim@JimSoda.com
Soda BLOG at: http://sodasells.wordpress.com/
Prudential Palms Realty
Sarasota-Venice-Lakewood Ranch-Siesta Key-Longboat Key-Immobel
Web Reference: http://www.jimsoda.com
0 votes Thank Flag Link Tue Nov 25, 2008
Your daughter and SIL have a GREAT location! Venice Island is quite desirable, and the closer to the beach the better; and they are just across the street from Venice Beach - that's a great location. Great photos are the best way to start, including photos of the view. If the photos aren't good, get better photos taken. Staging is very important - is the condo empty or furnished? A staged condo shows better; potential buyers can have a difficult time visualizing a furnished home. Internet presence is very important too; overseas buyers need to be able to see this condo. A video slideshow with text for each photo is a great tool too. If you want to contact me with the address, I will try to show it to my buyers as often as I can.
0 votes Thank Flag Link Tue Nov 25, 2008
We are finding that our buyers want the most square footage and upgrades for the least amount of money. Most important is price and next is condition of the condo. How are they priced compared to other units in the same complex?

We are getting many buyers right now from overseas in Canada. One of our best avenues is to market to these penitential customers. Since the dollar is weak right now against other currencies we a selling many of our properties to Canadians, Germans, English, etc. Many of them can purchase homes/condos for nearly half off the already low prices. It's a great position for them to be in.

The Internet is where most people find us. So you really need to have a strong Internet presence as well. And when they get to your website, blog, etc do you have information that catches their eye. How is your website set up?

How do the pictures look in the listing? What does the description say? Often times this is the first look that a potential customer will get. Are the pictures bright and colorful? Do they showcase the best features? Read the description of the condo-does it sound appealing? Look at a few other condos on the Internet in the same area. Which one would you buy if you were a buyer? Why did you pick that one? Was it price? Was it the great pictures? Maybe you can come up with some ideas and take them to your Realtor.

Good luck with the condo hopefully it sells quickly!

Shannon Moore, Realtor
Re/Max Anchor Realty
941-276-8142
twomoores19@comcast.net
0 votes Thank Flag Link Sun Jul 13, 2008
BEST ANSWER
Your daughter and son-in-law could ask their agent for a specific Marketing Plan. That plan should detail everything the agent is going to do during the life of the listing. For example: Place lockbox, take professional photos and virtual tour, conduct 1 open house p/month, send out e-blast, pitch new listing at Realtor Board Meeting, add home to a Broker Tour etc... Let all your neighbors know about the listing as each home owner will have friends that visit and they could be key potential buyers for you.

A 6-12 month lease is pretty standard. After all, if the agent is advertising the condo in papers or magazines there is lead time that is associated and planning that is necessary.

Be sure the condo is always in pristine conditions: beds made, candles burning, music on...you must remember all the key senses...smell, touch, taste etc...Bake fresh cookies. "Pull out ALL the stops!"
You are correct that a 1/1 is a much tougher sell than a 2/2. Maybe offer incentives like picking up closing costs...as your buyer may be a first time or younger buyer that is low on cash.
Web Reference: http://www.jimsoda.com
0 votes Thank Flag Link Thu Jun 26, 2008
Hi Vicki,

It all about visibility.....and the most important form of visibility in today's real estate market is pronounced internet presence. It's essential to have an attractive website that is "optimized" so that web traffic is directed to their site.

The importance of identifying the "Buyer" prior to arriving in Venice is critical. Many agents wait for the buyers to come to them when they should be tapping into ways to attract them before they arrive in Florida.

We will keep your condo in mind and given the opportunity to show it, we will.

Be patient, this is a slow time. I'm sure your agent is taking measures to sell it for you ASAP.

Good luck,

The "Eckler Team"
Century 21 Almar and Associates
Venice, FL 34285
ecklerteam@comcast.net
941-408-5363
0 votes Thank Flag Link Thu Jun 26, 2008
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