How Can I Make My Vancouver Condo Sell Faster?

Tuesday, March 26th, 2013

Maggie Chandler

Vancouver home sellers often ask me “how can I make my Vancouver condo sell faster?”  Let’s assume its been decluttered, staged and is in top condition. All that’s left is selecting the right price. Never price your property above market value!  I disagree with Realtor’s recommendation to list 3-5% above what you expect. That is a recipe for getting a much lower price than you would if you price it right on the money, or preferably less, which will attract multiple offers.

I Need to Sell My Vancouver Home in Two Weeks

Your chances of selling drop to less than 40% after the 2 week mark (this number fluctuates depending on the market – ask Maggie for current Vancouver real estate stats on this). So depending on whether it is a Vancouver buyers market or a sellers market you need to price your house at slightly less than market.

If you are priced right, you should get an offer in less than 2 weeks! Guess who has the upper hand in negotiation when you get an offer less than 2 weeks after it has been on the market? If you guessed “YOU” then you are right! Negotiate for top dollar because you have the upper hand and make it clear that you are in no rush with the house only being on the market for less than 14 days.

How Much Will I Have to Drop My List Price on My Vancouver Condo?

1% of asking should be the most you drop – but keep in mind Vancouver buyers need to feel that they are getting a deal off asking price even if it is only 1% otherwise it won’t be a win-win. If you don’t trust the list price your Vancouver Realtor gives you, ask to see the supporting documentation they used to arrive at your home’s price, and if they can’t provide that then find an experienced Vancouver Realtor with hyper-local neighbourhood info, as it is likely they didn’t do their homework and are just ball-parking.

If you don’t sell your Vancouver condo within 14 days, you will need to lower your price, and will likely have to lower it much more than if you would have priced it right in the first place in order to get people interested again.

Compliments of Maggie Chandler

Comments are closed.