Thinking about selling your condo this spring? We’ve got news: The considerations for condo sales are vastly different than those for single-family homes. What does that mean for you? Whether you’re selling your fifth investment property or your first owned residence, when it comes to condos, it’s probably time to call in the pros.

Here are some tips to help you get the sales process started:

#1 Timing Is Everything: Homes tend to sell faster in spring and summer, but condos don’t always follow this pattern. Families tend to buy homes in the spring — when curb appeal is high — and move in the summer so as not to disrupt the school year. But condo buyers tend to be single, retired, or newlywed, so school schedules aren’t an issue. Plus, many condos don’t have yards, making seasonal landscaping a non-issue. If your condo is in a touristy area with lots of vacation rentals, you might consider listing in high-traffic season to capture that heightened attention. On the other hand, sometimes, selling a condo requires patience — regardless of timing. The truth is that there’s a chance your condo will accumulate more days on the market no matter when you list simply due to inflated inventory alone. To keep you calm and talk you down, a trusted advisor is critical — they’ll tell you when your anxiety is getting the better of you and when there’s real cause for concern!

#2 Price It Right: When it comes to selling a condo, competitive pricing is more important than ever before — since even seemingly negligible differences in list price can mean the world to your target audience. Our advice? Use surrounding units to find comp sales, but remember that certain nuances can impact value. For instance, a condo in the middle of a hallway may be considered noisier and thus less valuable, while a condo with a better view, upgrades, or additions may command a higher price.

➤ Looking for more home or condo selling tips? Read these posts next:

• 10 Questions to Ask Your Realtor Before Selling
• Tips for Selling an Investment Property
• How Much Does it Cost to Sell Your Home?

#3 Keep Your Target Audience In Mind: It may be the oldest rule in the real estate book, but it bears repeating: You must identify your target market first. Generally, young professionals, retirees, newlyweds, and others who need less space and don’t want a high maintenance property tend to purchase condos. In contrast, families with kids tend to want (and need) more space than most condos offer.

#4 Set The Stage: There’s no getting around it: Condos tend to be a bit more homogenous than single-family homes, which means there might be similar units for sale in the same complex at the same time. That means you need to make your condo stand out in order to maximize the return on your investment. The good news? Our recommended contractors are here to spruce up your condo in crunch time. At The Jenn Smira Team, we oversee everything from painting to new tile installation, landscaping, and beyond. Insider Tip: Don’t forget about the common space of your building, too! Since units in well-maintained buildings simply sell for more, why not do your part by teaming up with your neighbors to touch up those old hallways once and for all? It’s a win-win!

#5 Preparation Is Key: Just as with single-family homes, most buyers will want their own inspection. However, a proactive pre-listing inspection may both spark potential buyers’ interest and speed up the process. You can make repairs before you list, price the condo appropriately, and prepare for any concerns that may arise. Because many transactions fall through during the inspection process, a pre-inspection can help thwart unpleasant surprises. And while we’re on the subject of being prepared, it’s also beneficial to get your condo docs in order up-front — so we can deliver them immediately after going under contract to start the 3-day condo document review period without delay! After all, why let the details hold you up when you’re so close to the finish line?

Thinking about selling your DC condo in the near future? Book a consultation with us right here or fill out a few details below to reach out team.