Selling your condo and looking for a quick transaction? There are so many things you can do to make the property sell faster. Also, there are so many common mistakes associated with selling properties in big cities. There are always buyers for well-listed condos for sale in Mississauga or any other part of Toronto. Avoiding these common mistakes can improve your condo selling experience drastically.
Experts are in the industry for a reason. A good agent will help sell your property faster getting a good price for it as well. In addition to that, there are many things you can do to make it sell faster. So, here are the most common mistakes to avoid when selling your condo:
Comparing Today’s Market with Last Year’s
One of the most common mistakes most property owners make is to consider last year’s market. There is a reason for that as well. If a property was sold last year in your neighborhood, it is easy to take that as a reference point. However, this can be far from the current market situation.
There can be so much variation in the market in a year’s time. Prices of properties can either go up or down in a year. Condos and other properties in big cities can change drastically in price.
So, it is always important to stay updated with the current market trends. Look at the past couple of months only when taking a price reference. This will help sell your property faster at suitable rates.
Miscalculating the Cost of Selling
There are always many costs involved in selling any condo in a big city. Your agent’s commission is one of the biggest ignored costs in most cases. Also, if you fix things up with the agent, it will be another thing to consider. Paying for storage is another one to consider.
So, sellers should always go into a sale with a realistic budget in mind. It can help avoid unpleasant surprises and provide a smoother selling experience.
Calculate all costs that might be involved in selling your property. Take into consideration everything you will have to pay when the sale is made or during the process.
Not Staging or Cleaning the Property Properly
Oftentimes homeowners list their property without making much effort to sell it. People who have moved out just recently sometimes don’t bother to clean the condo properly. Potential buyers walking in get a bad vibe due to the property being cluttered.
Also, not staging it properly is a big mistake. Where others are staging their property nicely, the odd one not doing it doesn’t look the part. Proper staging is necessary when looking for a quick sale.
It is a good idea to hire professional stagers as well. Presenting your property nicely leaves a good first impression in the minds of buyers. They will be more likely to buy a properly cleaned and staged condo.
Trying to Sell It Yourself
That agent commission often drives homeowners to avoid them altogether. However, that can slow up the process so, so much. Agents demand their commission for a reason.
A good experienced condo buys and sell agent will have the right contacts and skills to sell any property quickly. They will do the simplest things right including listing your property in the right places. These things make a major difference when selling a property.
Also, an experienced agent will know the current market trends as well. They will guide when to sell the property and when to hold it. So, instead of wasting time on your own, contact a good agent in town.
Listing It Without Fixing What Needs to Be Fixed
Oftentimes properties develop certain problems over time. Plumbing, electric, and structural problems can often be overlooked by homeowners. When you are living in your property, you can live with those problems because it is in your ownership. However, potential buyers will not settle for imperfections.
Potential buyers visiting your property will always want everything to be 100%. Also, some buyers bring professional evaluators with them to spot and identify any problems with the property.
So, it is always a good idea to fix whatever is broken or needs fixing before listing the property. A problem with plumbing or the electricals tends to drop the price of your property greatly too.
Not Selecting the Right Real Estate Agent
When listing condos for sale in North York or any other part of Toronto, the right real estate agent will make the process much more convenient for property owners. Also, people commonly select the wrong agents for various reasons.
The common thing to do is to select a real estate agent you personally know. Your cousin, friend, or relative might have taken up the real estate just recently. It is common to select someone like that and hand your property to them.
However, experience is key in the property buy and sell industry. Agents will only a short experience don’t often go too far into selling your property. Property-experienced ones always have the right connections to speed up the sale.
Using Average Photos Taken from Your Phone
Regular homeowners often overlook the importance of professional photography for their property. Your iPhone pictures taken from imperfect angles will not qualify. Pictures are the first impressions you are leaving your potential buyers with.
It is important to show all the best parts of the property to potential buyers. Any shortcomings in the quality of the pictures will not translate well at all.
So, make sure to hire professional photographers to take quality pictures. Also, pictures usually get compressed when uploaded on listing websites. High-quality pro camera pictures are the best ones.
Bottom Line
Selling your condo faster is a goal every property owner has. However, these abovementioned common mistakes can not only slow the process but also devalue the property. For the best condo-selling experiences, make sure to hire the right agent in your town. Stage the property well and fix all problems before you get the first visitors. Use professional photos to highlight the property and avoid trying to sell it yourself.
