There is no one size fits all approach when it comes to selling your home. It is so important to get the strategy right from the beginning. I want to share two recent sales where my partner Yesenia got great results in slower markets because we got the strategy right from day one.
The winning strategy
Success in selling condos today comes down to two key things – pricing strategically from the start and presenting the property in its absolute best light. This is especially true in areas of the city where there is more condo inventory and higher average days on the market.
In areas where condos and co-ops are typically sitting on the market for ~50 days, we sold two properties in less than a week. How? By being realistic about today’s market conditions and making sure our properties stand out from the first day they are listed.
Pricing right from the start matters
We want to price accurately from the start to generate immediate interest and avoid the trap of believing you can always reduce the price later. To do this we spend time digging into the market data and comparable sales. Our team is also very active in the market – selling a home almost every week so our finger is literally on the pulse of what is happening in the market.
Do not underestimate the importance of property prep
Presenting you home properly so it stands out matters. We help our clients make the right improvements and staging to highlight what is important to potential buyers.
Let me share two recent examples that really bring this to life.
Yerba Buena co-op sold in record time
We sold a condo in the Yerba Buena neighborhood in just 4 days – pretty incredible considering the average days on market there is 56 days. There were two other 1-bedroom units in the same building that had been on the market for 30-60 days without any bites.
Our sellers trusted us. Based on the current market value and other similar inventory on the market, our recommendation was to price it below the comps to attract immediate interest. They also went all-in on preparing the home for sale, even though the market in that area was uncertain. Their trust in the process really paid off!
Expectations exceeded
The second property was in Laguna Heights and sold in just 6 days in an area where average days on market is 39 days. It was a lower-level unit which can be more challenging to sell, but we sold it for just $25,000 less than a top-floor unit. Usually, that difference is closer to $100,000! Again, the magic formula was spot-on pricing combined with thorough preparation.
The result
Our sellers are very happy. Working with agents that know how to best prepare your property and execute successful pricing strategies makes all the difference.
Whether buying or selling, our strategies are designed to maximize value and minimize risk. We’d love to help you (and your friends and family) with your next purchase or sale.
