Selling Fast in a Slow Real Estate Market. I just closed on an Ocean Drive condo listing, setting a new record, 2 weeks from start to finish. The buyer got a great deal, and the seller had over $100k in equity, so everyone was thrilled.
I was also intrigued with the speed of sale and decided to write a short post on what it takes, so today’s conversation is centered on selling fast in the current Miami Beach real estate market.
Is this possible, you ask? Of course, it is, and here’s how…
Real Estate Marketing 101
1. Position the Condo in the Right Price Range.
When buyers search, they have a specific price range in mind. If your Miami Beach Condo is priced at $1.1M, you may have more traffic in the $999K price point, or instead of $325K, price it under the $300K mark where your buyer’s online search criteria begin.
2. Have Adequate Knowledge and Information.
Whether it be knowledge of the area, building, or condo, it is crucial to have the answers to buyers’ many questions. A lack of information is a waste of valuable time when selling fast.
3. Put out Great Information.
From videos to fliers and professional photography, a buyer looks at the many marketing methods to many times fall in love site unseen or before previewing your Miami Beach home or condo. With the surplus of International and out-of-state buyers, having the best in video and photography is imperative. The media helps to paint the property’s features and location lifestyle expected along the Miami Beaches.
4. Market to Your Neighbors
Neighbors often have friends and family looking in the same area or buildings along Miami Beach. The method of letting these valuable resources know that you are now selling is extremely powerful for finding a fast buyer.
5. First Offers Sometimes Rule.
Don’t believe that holding out for a better offer is the right choice. The first offer has enthusiasm, energy, and a sense of urgency. The second offer may not have the same price & terms related to acquiring your Miami Beach home or condo. They typically know what they want and have had their eyes on the location or Miami Beach development for some time.
Your monthly holding costs associated with waiting out a higher or better offer may not make financial sense, as each month costs you thousands. Negotiate well but make the first deal work and move on to the next goal in mind.
Timing The Real Estate Market
When timing is important, and you’re ready to sell your Miami Beach condo or home fast, call or write me to discuss marketing. If you’d like to receive the latest local real estate news via blog postings & updates, you can easily be notified by email every time a new posting occurs. Have a great week, and call any time toll-free at 1.888.383.7326 or contact me here.