Selling a property is very crucial. There are lots of things to consider before you finally come up with an advertisement or marketing strategies to sell your property. Like in selling a condo, it is very important to prepare everything you need to attract many prospective buyers. However, there are sellers who still make mistakes and come unprepared by the time of showing their properties. For you not to go wrong when selling your condo, here are the common mistakes condo sellers commit when selling properties.

Overpricing/Underpricing

These are two different things but both can affect the interest of the buyers. When a property is overpriced, the tendency of the buyers is to look for other prices of properties which they think are reasonable. If they see other properties with the same size and features as yours, but with lower prices, they will surely grab them and neglect yours.

On the other hand, when your property is underpriced, buyers will think that something might be wrong or not well-maintained since the price is not that competitive. Under pricing will also give them the notion that you are too desperate to sell your property and may even offer lower prices.

Hence, you have to make sure you’re putting the right price tag on your property. But how will you know if it’s overpriced or underpriced? Testing the market is the key to this. To know if you’re at the right side of the boat, you have to base the value of your property on comparable sales. Aside from this, you also have to depend the price on the market movement and the location and condition of your property.

Problems/Defects Cover Up

Buyers know you want to sell, but don’t over advertise your property. When you show the buyers your entire property, you already give them the right to know and see which is working and which is not. You don’t have to tell something is good, even it’s not, just for the sake of selling.

This is one of the usual mistakes of condo sellers: they don’t tell the buyers if there are problems or defects with their properties in fright of not selling in the end or not being offered a high price. They don’t realize at first that what they are doing will later backfire. By doing this, they don’t just put the buyers in jeopardy, but also themselves. Covering up problems will only lead to future problems. This is why some places already have a property disclosure/disclaimer form so the buyers will easily know the specific details of a property.

If you’re selling a condo, it is best to update it and do repairs before you sell it so you can attract more buyers with great offer. If there is any problem, tell them right away so you can easily patch things up. Being honest will create a good impression on your part so be vocal and tell them everything they have to know. 

Wrong Marketing Tools

Two of the most used marketing tools in selling homes are open houses and classified ads. But these two are not that powerful anymore. In the advent of new media, the traditional way of marketing your properties is not very helpful at all. At an open house, there are less properties being sold since the agents use them not to sell your house but only to draw future clients. We also found out that only few buyers purchase their homes through an ad.

Avoid this mistake when selling a condo; instead, use powerful marketing tools like online media so you can easily attract buyers not just in your area but throughout the world.

Wrong Choice of Agent

There’s a good list of credible real estate agents in different areas but sellers still make mistakes when choosing one. For one, there are sellers who choose an agent based on non-business or personal factors. This sometimes happen because they want to save or give them their old buddy, for example, a job. But this is not advisable when you’re working on selling your home. Also, there will be conflict of interest on his part since he is hired on non-business factors.

To avoid choosing the wrong agent, conduct a profound research about all the real estate agents in your area. Also, ask people about them and don’t just ask few, ask several to ensure yourself you are choosing the right candidate.

Emotional Attachment

Some sellers encounter emotional problems when they are selling their homes, especially if they have stayed there too long and of course, already developed an emotional bond with the house. Apparently, being obvious about this will create a bad impression on your buyers. When you show them your condo and tell them memorable things you used to do in a certain area, your buyers will presume that you are not yet ready to sell your home. This will be a lost sale so if you want your house to be sold, don’t be too sentimental. Just be professional and tell them only technical things they need to know about the property. This way, you can avoid showing them intense emotional attachment.

Now that you know the common mistakes condo sellers make, you can now be more cautious and more prepared about selling your condo.