1) How do I price my Gold Coast condo ?
Your broker should perform a very in depth analysis specific to the Gold Coast, your building, and nearby Gold Coast buildings that includes past sales as well as current properties on the market. Your condo will be compared to these, to arrive at a market based price. It may not be the price you have in mind, but if your broker is good and honest, and knows the Gold Coast well, it will be the price at which your home is most likely to sell quickly. It is important that your broker be extremely familiar with the Gold Coast and its real estate climate, because it can change quickly and it can change by block and by building. Incorrect pricing results in lost bids, fewer people seeing your home and longer market time. DO NOT rely on Zillow or Trulia estimates. Those estimates are computer generated algorithms that cannot take into consideration the specifics of the Gold Coast neighborhood, your building and the condition of your individual condo.
2) How long does it take to sell a condo in the Gold Coast?
Length of time to sell your condo is a function of; price, product and available inventory. As an individual seller, you cannot impact inventory, other than to put your condo on or off the market, therefore, it is CRITICAL that your condo be priced properly and look good. The less work a buyer has to do, the quicker, typically, it will sell. Depending upon level of inventory in the Gold Coast at any given time for one, two or three bedroom+ condos, homes can sell in as quickly as a few days or as long as a year. The specifics and condition of your building, will play a big part, as well. In general, count on three to six months.
3) Should I try to sell on my own?
You can certainly try to sell your home on your own and your first stop should be your neighbors. However, be aware that a real estate broker who concentrates on the Gold Coast, will have a lot more knowledge and data available than you will as an individual seller. If you are not represented by a broker who is familiar with the Gold Coast, you could get fleeced and sell your home too low. Even though you may save on commission, you may lose overall, if you sell at a below market price.
4) What is a discount broker and should I use one?
There are various types of discount brokers, but typically, a discount broker will list your property in the Multiple Listing Service (MLS) so that other brokers can see it and show it to their clients. You may be required to do the showings, so you will have to make yourself available, hard to do if you work or have small children. And, as in the above, if the buyer is being represented by a broker, you could be at a disadvantage when it comes to negotiating the sale. That is where an experienced, full fledged broker will look out for your best interests and help you to get the highest price possible. Most sellers in the Gold Coast use full time brokers.
5) What are the top 5 things I can do to my condo to make it more appealing to buyers?
- Neutral paint colors and décor
- Declutter all rooms and closets
- Refinish hardwood floors or install them instead of replacing old carpeting
- Have updated kitchens and baths or consider refacing cabinets and adding new hardware
- Ensure your building’s exterior is in good shape. You never have a second chance to make a first impression!