Selling Your Single Family, Condo or Townhouse

If you own a single family property, whether a single family home, condo, or townhouse - there are several things that you need to understand before selling: 

1. Understand the right updates to make. For these property types it almost always makes sense to make some updates before selling. The question is - how far do you go?

You have to factor in things like your budget, your bandwidth, and your timeline. There are almost always some low hanging fruits that are worth pursuing. Depending on your patience, there might also be second-tier updates that are worth your time and effort, with my guidance.

2. Know the type of buyer that cares about your property. You need to truly understand your audience before selling. I have found that sellers often misunderstand who their ideal customer is. If you are selling to a family, you are going to position your property differently than if you are selling to a young single professional. If your home has historical significance there is a different buyer profile compared to a condo that is truly geared towards investors.

3. Understand how to market your property to that specific buyer. Once you understand WHO your buyers are, we can then identify HOW to market the property. I see many agents get this wrong too! I’ve seen properties that were positioned as historical homes when in reality they were pure investment properties. Frankly, no investor cares about the history - except in the context of making future updates and considering the potential roadblocks that come with an old building.

4. Understand how to detach your emotion from the sale. If this is your primary residence, you likely have an emotional attachment to it. And unfortunately that means you likely have trouble distancing yourself from what you are selling. Primary home sellers often overestimate the value of their home and misread what buyers are actually looking for or what buyers will get excited about.

I try to act as a neutral third party here and stick to the rational items that will draw buyers in and maximize the results for my clients. Having someone like this on your team is invaluable. If you’re thinking of selling your primary home and looking for some initial guidance, give me a shout!