Need Help Selling My Condo... $135K Challenge?

by Edward Aw 27 replies
Hi All,

I know this isn't internet marketing related, per se.

However, you are the gurus on getting traffic and my condo is listed at $135K.

What are the best ways to get it sold fast?

Thanks,

Ed
#main internet marketing discussion forum #$135k #challenge #condo #selling
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  • Profile picture of the author Imran Naseem
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    • Profile picture of the author bryce
      Haha, good idea! I think the fastest way would be to remove the "k" from the pricetag , but....

      on a serious note, be creative! In today's downturn in the property market, even international property buyers are being cautious, and losing money on thier assets.

      Maybe any one or combination of the following.....

      1. Offer Vendor Financing
      2. Offer a RTB option
      3. Add value to the deal, (i.e car, vacation, gardener, etc)

      Bryce
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      • Profile picture of the author JohnMcCabe
        Originally Posted by bryce View Post

        Haha, good idea! I think the fastest way would be to remove the "k" from the pricetag , but....

        on a serious note, be creative! In today's downturn in the property market, even international property buyers are being cautious, and losing money on thier assets.

        Maybe any one or combination of the following.....

        1. Offer Vendor Financing
        2. Offer a RTB option
        3. Add value to the deal, (i.e car, vacation, gardener, etc)

        Bryce
        Another tactic I see here in Florida is to sweeten the pot for the agent that brings you a buyer. It could be cash, a $500 gas card, some electronic gizmo, a trip...just use your imagination.

        What would make you steer a buyer to one property as opposed to another, similar property?

        An unrelated tip...

        See if you have a decorator, designer or stager that can whip your condo into something buyers will fight over. If such a creature is unavailable, you'll find tons of ideas at
        HGTV - Decorating, Home Improvement, Remodeling, Gardening & Landscaping Ideas : Home & Garden Television
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  • Profile picture of the author Scott Ames
    Originally Posted by sgtaw View Post

    Hi All,

    I know this isn't internet marketing related, per se.

    However, you are the gurus on getting traffic and my condo is listed at $135K.

    What are the best ways to get it sold fast?

    Thanks,

    Ed
    You could do a 5 Day Sale. The Official Site of the 5-Day Method and the Book How to Sell Your Home in 5 Days by Bill G. Effros

    It gets you market price in 5 days, but you may not always be happy with the price. It will be what the market will give at the time. It will sell your place quickly though.


    In combination with the 5 day sale you could:

    1. Advertise on eBay
    2. Advertise on Craigslist
    3. Gather a list using an autoresponder
    4. When it gets close to the sale email your list
    5. Make sure you have a nice landing page with pictures and details and an opt-in form.
    6. Pictures are key, get a professional photographer to do it right.
    7. A virtual tour is really handy too ( 360 degree photography )
    8. Think of everything somone could ask and have the answers ready. ( they WILL ask. )
    a. Schools
    b. Shopping
    c. Crime
    d. Financing
    e. Structure and flaws
    f. Neighbors
    g. taxes
    h. square footage
    i . Lot size


    I did this an got over 200 people on my list, some begging me to see the property before the open house.
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    Success consists of going from failure to failure without loss of enthusiasm. -Winston Churchill

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  • Profile picture of the author Glenn Newsome
    You might want to send a PM to warrior : peteinoz

    I think he did use marketing to get up some good interest in a property.

    He was very successful at it if I recall correctly--which does not surprise me if you know about him.
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  • Profile picture of the author Steve Garrett
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    • Profile picture of the author Peter Kolat
      John is on a right track. And so is Scott.

      I write a lot about real estate marketing on my blog and have tons of cool strategies on there. Too many to into here.

      Recently, One woman did some very creative marketing to sell her house. It was all over local news and got on the first page of digg. She went ahead and put up a listing on ebay saying that she is selling her condo with herself. She was auctioning off herself because she was looking for a husband.

      I wrote a post on my blog about that.

      Come up with something creative. Obviously, your not going to sell yourself, unless your looking for a wife. But come up with something creative and unusual. You can even post it on ebay.

      Then, write a press release for it and submit to either to prweb or webwire.com along with prleap.com.

      Then submit it to social bookmarking sites. There is a free tool you can use called socialmarker.com.

      Do a short video about your condo for sale and post it on video sites including youtube. You can use tubemogul.com to submit the video to different video sites.

      I hope this helps. If you want, you can pm me and I'll try to help you.

      Peter Kolat
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      • Profile picture of the author Bruce NewMedia
        Try doing a Round Robin Auction. You can set a minimum price and advertsie it as Best Price Bid" .....not highest price.
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        • Profile picture of the author rudvan
          my suggestion, put 30% discount on your condo price but display your price above 30% ($180k).sure everybody will find you.
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          • Profile picture of the author deu12000
            Make sure your house isn't overpriced at $135K. A lot of sellers are being surprised with how much their property has gone down in value and some people are cutting their losses and holding their properties until they can appreciate in value. Have a real estate agent (or a few) give you a market analysis (they're free).
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            • Profile picture of the author Jesus Perez
              I just went through this last month. I had a condo for sale in North Miami. I had it up for $159k and it didn't budge. I eventually found out (by visiting the condo) that there was a building foreclosing across the street and units were selling for $60k! Mind you...it was a dump. But it was impacting the selling price in that neighborhood from a statistical standpoint.

              The place was gutted, cleaned..everything. But nothing was getting people to buy. It was simply too expensive and I couldn't drop my price any lower.

              I finally decided to rent. I asked for 1st, last and security and payment via cashier's check or money order. I got it all and the place was rented within 2 months. It would have been rented sooner, but I refused to budge on the 1st, last,security and payment requirements.

              I don't know if renting is an option for you. If it is, consider it. This way, you can continue to make payments until the market improves (and you'll get a better selling rate). Or you might be able to sell it to the tenants.

              To ease the headache of being a landlord...I purchased a 1 yr contract with ServiceAmerica to cover any maintenance/appliance issues that may arise within the unit. All the tenant has to do is call them and schedule a free visit to get anything fixed. My cost is $389 for a full year and the rent covers the cost.

              Here's what I did to get interest in the place.
              • Created a website for the condo itself with relevant keywords. Hell, the name is the keyword! (PM me for the website URL)
              • Shot a walkthrough movie using my Canon SD750 and uploaded it to YouTube with relevant keywords.
              • Put the movie on the website on the front page.
              • Posted as often as Craiglist allowed.
              • Posted on Backpage as well.
              • Posted on Oodle.
              • For renting, I bought an ad at Apartments.com (results were very mediocre and would not recommend again)
              • Had it not rented as fast as it did, my next steps would be hanging up flyers with tear-away strips in public places (schools, grocery stores, laundromats, etc)
              The rest was up to the realtor. Hope this helps in some ADHD sort of way!
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              • Profile picture of the author Scott Ames
                @BlueSquares Just make sure you check on it once in a while. I had a property manager for mine and thought I was covered, but the people renting it were pigs and raised cats inside the house. When they moved out my house was not in any condition to live in let alone sell. I had to replace the carpet, repaint, get the urine stains and smell out, get rid of all the furniture, etc.

                I know you are careful and hopefully there are not many tenants like mine.
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                Success consists of going from failure to failure without loss of enthusiasm. -Winston Churchill

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                • Profile picture of the author Jesus Perez
                  Originally Posted by Scott Ames View Post

                  @BlueSquares Just make sure you check on it once in a while. I had a property manager for mine and thought I was covered, but the people renting it were pigs and raised cats inside the house. When they moved out my house was not in any condition to live in let alone sell. I had to replace the carpet, repaint, get the urine stains and smell out, get rid of all the furniture, etc.

                  I know you are careful and hopefully there are not many tenants like mine.
                  Thanks, Scott. I've read the horror stories. Believe me. Luckily, I have "eyes" and friends in the building that are keeping me posted. So far it seems like a good tenant. Once they leave, though, I'll definitely be putting the place back up for sale at a competitive price. I only hope the market bounces back soon.
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              • Profile picture of the author JohnMcCabe
                Originally Posted by BlueSquares View Post

                I just went through this last month. I had a condo for sale in North Miami. I had it up for $159k and it didn't budge. I eventually found out (by visiting the condo) that there was a building foreclosing across the street and units were selling for $60k! Mind you...it was a dump. But it was impacting the selling price in that neighborhood from a statistical standpoint.

                The place was gutted, cleaned..everything. But nothing was getting people to buy. It was simply too expensive and I couldn't drop my price any lower.

                I finally decided to rent. I asked for 1st, last and security and payment via cashier's check or money order. I got it all and the place was rented within 2 months. It would have been rented sooner, but I refused to budge on the 1st, last,security and payment requirements.

                I don't know if renting is an option for you. If it is, consider it. This way, you can continue to make payments until the market improves (and you'll get a better selling rate). Or you might be able to sell it to the tenants.

                To ease the headache of being a landlord...I purchased a 1 yr contract with ServiceAmerica to cover any maintenance/appliance issues that may arise within the unit. All the tenant has to do is call them and schedule a free visit to get anything fixed. My cost is $389 for a full year and the rent covers the cost.

                Here's what I did to get interest in the place.
                • Created a website for the condo itself with relevant keywords. Hell, the name is the keyword! (PM me for the website URL)
                • Shot a walkthrough movie using my Canon SD750 and uploaded it to YouTube with relevant keywords.
                • Put the movie on the website on the front page.
                • Posted as often as Craiglist allowed.
                • Posted on Backpage as well.
                • Posted on Oodle.
                • For renting, I bought an ad at Apartments.com (results were very mediocre and would not recommend again)
                • Had it not rented as fast as it did, my next steps would be hanging up flyers with tear-away strips in public places (schools, grocery stores, laundromats, etc)
                The rest was up to the realtor. Hope this helps in some ADHD sort of way!
                Another option to consider, related to this one, is using a lease/option.

                We sold our house in Nebraska this way. We got a non-refundable option payment (which was later applied to the down payment), along with a slightly above-market rent. The tenant was responsible for all maintenance and routine repairs (plugged toilet, backed up drain, broken window, etc.). The option lasted two years. During that time, the only hassle was working with the tenants when the rent was late. They never got too far behind, and always caught up.

                BlueSquares, we're seeing the same thing happening here on the Gulf side. Foreclosures and short sales on homes that sold for $240k during the peak going for $60-70k. When I looked at the market trends, the booms tended to last about 8 years and the busts two or three. So we should be getting close to the up turn. Around here, they're saying we have about 14 months of inventory. New construction permits have virtually stopped, so I'm guessing that things will start picking up again in a year or so...
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                • Profile picture of the author .X.
                  I think a lot of people go to the search
                  engines to do property search so you
                  might think about using Adwords, with
                  geotargeting.

                  Throw in some ebooks with PLR rights
                  and that sucker's good as sold.

                  ... another idea. Offer a bounty to
                  anyone who refers the buyer (not sure
                  if this is legal). "Refer a friend who buys
                  my condo and I'll buy you a big screen
                  TV".
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                  • Profile picture of the author BettyM
                    <<Then, write a press release for it and submit to either to prweb or webwire.com along with prleap.com.>>

                    Interested in why Peter said to use two distribution services. Wouldn't PRWeb overlap PR Leaps distribution?

                    Just curious since I am about to do a press release. Which level would you choose on each service? They have different prices.
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                    • Profile picture of the author Kay King
                      First - how many other condos are available for sale in the development?

                      Second - how is yours priced compared to those?

                      Third - What unique features does your condo have over the others?


                      A friend of mine is closing today on the house she sold. It was on the market less than two months in a market that is flooded with homes just as other parts of the country are.

                      It sold because it was absolutely clean, neat, had new floors and updated bathrooms, the landscaping was perfect. It was not the newest house on the market here nor was it the cheapest - but it had clearly been maintained to a high standard.

                      When you attempt a blitz to sell a house or condo - you are in effect creating traffic. To get maximum effect from that traffic, the property needs to be in pristine condition these days.

                      kay
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                      • Profile picture of the author Mo Goulet
                        Take a look at the following websites...

                        Showcase Your Home To The World With Video

                        Las Vegas Homes For Sale *featured video classifieds

                        Start your own homes for sale on video website and contact local realtors who will promote it for you and arrange the code so yours is always on top.

                        Email me if you want more information.

                        It's a great niche.

                        Mo
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                        • Profile picture of the author Noah Fleming
                          We had a 1.5 Million Dollar B&B on eBay last year. I used a typical IM Sales Page and copy style, complete with a nice big captivating headline, lots of photos, benefits, bonuses, the whole 9 yards.

                          We didn't sell online specifically though an eBay "Buy-It-Now" but garnished a lot of interest and leads in the property, two of which traveled across the Ocean to view the property.

                          Great way to sell your condo in my opinion.
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                          • Profile picture of the author Christie Love
                            Your best bet is to hire a top notch realtor who can sell your property within a week. It may take you much longer to sell it. It's likely that a top realtor already has a list of buyers who are looking to buy. Let him/her do all the work while you relax and fix your house up the best way you can for potential buyers. Too bad you arent in Cali. I'd buy it for that price. That's a steal here.
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                    • Profile picture of the author Peter Kolat
                      Originally Posted by BettyM View Post

                      <<Then, write a press release for it and submit to either to prweb or webwire.com along with prleap.com.>>

                      Interested in why Peter said to use two distribution services. Wouldn't PRWeb overlap PR Leaps distribution?

                      Just curious since I am about to do a press release. Which level would you choose on each service? They have different prices.
                      Here's what I meant by submitting to multiple press release sites. If you can manage the expense of using PRweb.com, then definitely go with them. They are by far one of the best press release sites out there.

                      However, if you cannot afford to spend couple of hundred dollars on a PR, then go with webwire.com. They'll get you on Google News. For a bigger and more powerful effect, close to what you could get from PRweb (but obviously not the same), combine webwire.com and prleap.com. Those 2 sites will give you a nice press release coverage.

                      As for PRweb price level, it all depends on what you can afford and what you are trying to accomplish with your press release. Webwire.com - I've used their $19 service with good results. Prleap- If you combine with webwire.com, their $49 service should do.

                      I should point out that in regards to marketing, testing is essential. So test and track your results to see what works best for you.

                      Try it out and you'll see, it works.

                      Peter
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                      • Profile picture of the author Mark Riddle
                        Ed,

                        More than likely your promoting you property to the wrong market.

                        If you are needing to move to AZ that is where I would start my campaign.

                        Headline :


                        Insane offer but true

                        Miami Condo to be Given to Right Owner
                        Are you The One?

                        Yes that's right I'm looking for the right person to take over my condo.

                        You see I've put a lot of love and attention into my condo, and I just would hate to think that some one who didn't love it and enjoy it as much as I did, would get it.

                        As you can see my family (insert pic) understand the importance of having a home that is more than just a place to store your stuff, more that just a place to pass through.

                        That is why I am looking for the right owner of my condo, Nope don't even bother with the million dollar offers, this condo isn't for sale for money only.

                        You see I am getting to move to Arizona, just like I thought I would, somehow I thought it would be a long time coming, but what can I say, I know I'm supposed to move now.

                        That's what I have decided to make this unusual, yet sincere proposal.

                        I am looking for someone right here in Arizona that knows that you are supposed to have a place in Miami, and just knew that some how some way a strange and different way would come and appear to you.

                        This is that call, that message you knew was coming.

                        Please use the information below to contact me, I am certain that you are reading this and already have in hand what you need to make this choice.

                        I will send you information about location and the standard "real estate jargon" to assist you to know that this is indeed your property.

                        Thanks for taking the time to read this note.

                        Its Great to meet you.

                        ED Lastname

                        Email me at MiamiCondo@what ever email that is an autoresponder dot com












                        Mark


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  • Profile picture of the author lilhay
    Your best bet is to go list with craigslist classifieds: jobs, housing, personals, for sale, services, community, events, forums in the city you are trying to sell.
    Set up a FREE account and post in the real estate section/for sale/housing.
    Trust me on this.
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    • Profile picture of the author dvduval
      There is a pretty good chance the market value of your condo will increase to a more easy to sell level within 2-3 years. If there is anyway to stick it out or rent it til then, that might be a better option for you.
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  • Profile picture of the author Andres
    I'm with John McCabe all the way.

    I was an LO for 5 years and selling a house now is tough since the qualifications got more strict. However it really depends on where you live. Some places are hot (like Houston TX) other places cold as ice.

    In any case be prepared to wait a while until someone bites.
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    • Profile picture of the author stacyfox
      I read an article a couple of months ago about a PR rep who sold an "unsellable" condo at a great price. It turns out that not only she, but the two (female) owners before her had sold because they were getting married. She sold the condo as a "love shack" to "women who want to get married." She had several offers within days. In short, instead of selling the steak, she was selling the sizzle.

      Come up with some sizzle about your house and do a press release. If you have enough of a unique angle, go directly to the local papers.
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      • Profile picture of the author Corwinnx
        Use a ALL the marketing tactics talked about in this thread and ADD one thing to every single one...

        " $2,000 BUYER'S AGENT BONUS "

        Realtors will show their own listings before another agents, so give them the 'double dip' bonus they love so much and they'll start driving their clients to see your property.

        There's a program by a guy called Stefan Kasian called "Auction Powers."

        He gives you an ULTIMATE marketing plan for selling a house at auction, including how to 'stage' the house for the auction.

        There's a couple in Ft Myers Florida who did coaching on this. They would fill up the bathtub with pink ballons to make it look like bubbles, they would bring in fake plants, bake cookies during the day of the auction and use scented candles in different rooms of the house.. Kitchen got vanilla and cinnamon, bathrooms got melon and all other rooms got vanilla.

        The cookies and cinnamon reminded the visitors of baking and apple pie, and that made them think of home...
        There's a whole bunch of other information in the program too.. send me a PM.. I have a copy of it I could mail to you.

        Marcus
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        • Profile picture of the author Edward Aw
          Wow! Thanks everyone for the replies!

          I'll try to answer a couple of questions and make some comments...

          Everyone -- The sweeten the deal idea is great. We're racking our brains. We wish we knew Greg Oden of the Portland Trailblazers! We think a dinner with him would sell the house instantly! Do any of you have "something" / "someone" to offer :-)

          Bryce -- I like the drop the "k"! How about you make up the difference? ;-)
          - I wish I could do RTB but we need the funds to move to Arizona.

          John -- We have been sprucing up our condo. It's in pristine/ move in condition. We have also follow HGTV stuff to. Thanks.

          Scott -- I just purchased the 5-day book you recommended. Thanks. We're also working on a map of everything people would be looking for / asking questions about.

          Glenn -- Thanks for recommending Pete.

          Pete -- Thanks for the insights. I PMed you.

          Brucerby -- Auction? Wow. I'm a bit worried about this one!

          Deu12000 -- Yes, our place is reasonably priced. The developer dumped 40 brand new units for $144K with $8K incentives. We are 1-2K below that. We are also in a better location than all of them because ours looks into a little creek.

          BlueSquares - Great idea about ServiceAmerica. But renting isn't an option right now.

          Lilhay -- the craigslist thing is done. Thanks for the reminder.

          Kay -- There are about 50 condos for sale. about 40 are new from the developer. Ours is the lowest priced even after the incentives that the developer offers. Other than being in pristine move-in condition, we look into a creek, we have very quiet and friendly neighbors.

          StacyFox -- Great idea about sizzle... Hmmmm... Married... Two kids... Racking my brains for sizzle. Any ideas?

          Marcus -- Great idea about "$2000 BUYER'S AGENT BONUS" I have sent that to me agent already.

          Thanks all. Any more?

          Blessings,

          Ed
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