Marketing Matters – A Tale of Two Condos

Dawn Griffin Posted by
Buying & Selling Tips Apr 2018

On average, it takes 80 days for a 2 bedroom condo in this area to go under contract. We listed  2303 Minnesota  on 3/28/18 for $174,900 and it was under contract by April 7th. With its awesome location, great condition, and the current hot spring market, it isn’t surprising that this condo went under contract so quickly. What is interesting is that there is another condo in the same complex that went on the market at the same time and still hasn’t received an offer. What’s the difference?

Pricing and Positioning! We studied the market data and shared our knowledge of the area with the homeowner. We looked at recent comparable sales and reviewed the competing active properties. Together we selected a price that was aggressive but still competitive. Then, we put our marketing plan in place.

2303 Minnesota marketing
2303 Minnesota as shown in MLS

Marketing Matters

We have a detailed marketing plan that we execute with every listing. It begins with our pre-listing consultation that covers everything from curb appeal to closet organization. After that we enlist a professional photographer with an eye for detail. We collect the most salient details about the home from you and package that information into persuasive marketing pieces targeted towards different audiences. Then we blast the internet with targeted advertising to drive foot traffic to your home. Photos, floor plans, an individual property website and a full social media blitz are all pieces of the puzzle.

The Importance of photos

Our marketing plan begins with highest quality photos. First impressions are EVERYTHING! 95% of buyers are using the internet in their home search* and photos drive foot traffic. The better the photos, the more likely a buyer is to schedule a tour. If your property is poorly presented online, buyers will not schedule the appointment and your listing won’t even be considered. In the case of the Minnesota condos, these two units are very similar: same layout, same number of beds and baths and same square footage. As part of one condo association,  the exteriors are identical. But you cannot tell that from the online presentation. Our photographer was deliberate with the photography composition and lighting and that makes all the difference.

2303 Minnesota
2303 Minnesota, as shown in our MLS listing
Minnesota marketing
Similar condo just down the street, as shown in MLS

Staging Pays

Home buying is inherently an emotional process. Staging helps create that emotion. Compare the interior photos of these two condos. One is full warmth, the other feels a bit unloved. Our homeowner at 2303 Minnesota did the basic touch up and clean up as well spend some time shopping for a few accessories that would create warmth and cheer. Even a minimal amount of staging up front can yield positive results. Staged properties sell 2 to 2.5 times faster than unstaged homes and sell 7-10% higher than regular asking price.

 

Dining Room
Dining Room Comparison

Which place do you want to call home? Where do you spend your nights? Which unit do you want to show off to your friends and family?

The Team Difference

Most agents cannot go the extra mile on marketing. They are pulled into too many directions. Creating a full marketing package for each listing takes days not hours. Our team can do this because we have a full time marketing manager who follows a detailed three phase plan that includes a Coming Soon Phase, Going Live Phase, and Post-Launch Phase. During each phase, content is designed for and targeted to specific media (MLS, Facebook, Instagram, Twitter, website, print) and audiences (realtors, potential buyers, and sellers). There are many moving parts throughout each phase. Once the house is live in the MLS, we continue to market it on social media.

SUMMARY

After all the hard work you put into getting your home ready to sell, hiring a team with the marketing savvy to get it sold quickly and for the right price just makes sense. We know we can help your listing stand out from the competition. Look at some of our current listings on this website to see how we do it or follow us on Social Media. If you like what you see, and are considering selling, let’s talk about a marketing plan for your home.

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*According to the 2016 National Association of REALTORS® Profile of Home Buyers and Sellers

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