Vacant Condos Can be a Tough Sell

 

Professionally Educated Home Stagers are trained to delve into the psyche of the buyer, how to identify specific target-markets for each unique property, and know how to tweak the presentation of each individual property for optimal results.

Let’s think of all the assorted reasons a buyer would be looking to purchase a condo.

      

Downsizing due to age and diminishing ability to maintain a larger property.

Downsizing due to unexpected financial hardship or changes in finances.

Mandatory life circumstance relocation, only to find geographical lack of listed properties.

Marital changes translating into smaller family unit.

Affordability and/or Credit limitations.

First-time home-buyer beginning in the “ownership” realm.

Currently selling condo, looking to relocate into condo with differing amenities/benefits.

***A HUGE percentage of our population on the planet right now, especially in North America, are Baby Boomers. They are retiring, selling a home, buying a smaller dwelling in a metro-locale.

 

Of course this could never be an all-inclusive list of reasons for buying a condo.

There are many life circumstances which may dictate that one HAS to consider only condos in their home-search.

No matter how you slice it, however, more times than not, condo buyers WILL be downsizing in available living/storage space.

My point is that many of the potential buyers in the target markets for all condos are faced with having to leave a dwelling with, perhaps, yards, basements, attics, out-buildings, plenty of storage, and more living floor-space.

Many condo-purchasers are sacrificing a lot of conveniences in a larger home and even having to purge a large percentage of their belongings due to lack of space in their new home. Inevitably, a condo buyer is seeking the most possible space for their investment.

It is a no-brainer that vacant detached dwellings look and feel a lot smaller than they are, both in photos, and in person.

But, vacant condos look even smaller. It is also monumentally more difficult to capture entire rooms inside of condos in photos due to the small scale.

 

Home Staging Services in Edmonton, AB, provided by Revealing Assets - Home Staging and Decluttering Services

So, when buyers view listing photos of vacant condos on the internet, it is very easy to get quickly discouraged.

I challenge you to sit down and do a search for condos in your area and spend a few minutes viewing vacant condo photos. They truly all start to look exactly the same. Not only that, it is almost impossible to determine which room the photos are of. Forget trying to get a sense of scale within each room when they are empty.

Because condo buyers are typically having to make decisions on which belongings they need to part with in order to move into their new condos, it is even more important for them to see furnished/accessorized rooms. This helps make the buyers’ decision to view the property effortless. Staging the Vacant condos from the start visually tells a buyer, right from the listing photos, that their living room furniture and their bedroom suite will easily fit into the available space.

There are large numbers of vacant condos on the market. They generally sit on the market a lot longer, and bring lower offers when they do sell.

Home Staging in the Vacant condos will not only make yours stand out from the competition, it will inspire buyers to set up a viewing. A Professional Home Stager will choose optimal furnishings/decor for your specific condo to create a warm, inviting, welcoming atmosphere. A Professional Home Stager aims to draw attention to important architectural features, maximize available floor-space, and not overwhelm prospective buyers with attractive distractions.

 

Rhonda Wilson - CCSPTM
Owner/Operator of
Revealing Assets
Home Staging and Decluttering Services
http://www.RevealingAssets.ca
RevealingAssets@shaw.ca
780-913-5589 
We transform properties into highly
sought-after products that sell in half
the time and for 7-10% more money.
Through personal experience, extensive
research and training, and a compassionate
approach, we De-clutter living/work spaces for
up-lifting and positive life changes.

Edmonton, Alberta, Canada

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Comment balloon 9 commentsRhonda Wilson • January 11 2011 01:59AM

Comments

Nice before and after pictures.  Staging makes such a difference especially in small spaces.

Posted by Maureen Fukumoto, Maureen (Help-U-Sell Realty Pro) almost 8 years ago

Nice photos and article. People hesitate to stage small spaces as they are more challenging, but they need it.

Posted by Michelle Carr-Crowe Just Call 408-252-8900 Top 1%!, Family Helping Families Buy & Sell Homes 40+ Years (Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty) almost 8 years ago

condos can be a tough sell for the simple fact that the association fees have grown outrageous in most complexes.... at least true here in Corona, California.

Note:  You've got a serious Header problem if you hadn't noticed.

Posted by The Homefinding Center - Southern California Real Estate (The Homefinding Center) almost 8 years ago

Staging can be a great way to make a property move!  Now if only I could find a great stager who didn't want a kings ransom in LA County to help me with staging listings!  That would be great!!

Posted by Wendy Rich-Soto, Realtor Strategize, Stage, Sell, Owner of SellingLASouthBay.com @ the WRichTeam (Keller Williams Realty, LA Harbor) almost 8 years ago

Rhonda - I love vacant condos as I can acquire them cheaper. I also think, when vacant, that the owner has just given up and is ready to sell quickly.

Posted by Bill Pohl (Tetra Homes, Inc.) almost 8 years ago

Bill's comment is a prime reason to Stage a condo and present it properly. Good post Rhonda.

Posted by Janice Ankrett, Staging Professional (Janice Ankrett Home Staging) almost 8 years ago

Maureen, thank you very much. 

Michelle, yes, the small spaces are more challenging, which makes it so important to call in the professionals.

The Homefinding Center, high condo-fees are an issue everywhere, and definitely one of the big deciding factors with buyers. The main thing is that buyers really need to scour those condo documents before going through with a sale. They are high up here in Edmonton, Canada as well. Thank you for the heads-up. I will fix my header.

Wendy, this is really too bad to hear. We are a lot luckier up here, as the Staging Trail-breakers set reasonable pricing standards for the rest of the Stagers to follow. Some day, crossing fingers, Home Staging will be regulated all over North America, and the pricing will come back down to earth in areas such as yours.

Bill, GREAT COMMENT!! This is another amazing point for sellers to be mindful of. A vacant property of any sort tells a buyer that the seller MUST be in a distress selling situation, and that they must be carrying two mortgages. The buyer gets excited, leaves the property, turns to his wife, and says, "You realize that we could present an incredibly low-ball offer on this one and probably get it?" Thank you for stopping by, Bill!

Janice, thank you so much!! 

 

Posted by Rhonda Wilson (Revealing Assets - Home Staging Services) almost 8 years ago

For small spaces it's difficult for buyer's to imagine how furniture will even fit into rooms.  Nice work and nice photos. 

Posted by Janet Jones, Home Staging, Interior Redesign Kihei, Maui, Hawaii (Just Your Style Interiors, LLC) almost 8 years ago

Hello, Janet!

Yes, it is so much more important to have the small spaces professionally Staged, as buyers make their purchase decisions based largely on emotions and visualization.

Thank you so much, and have a great and successful day!

Posted by Rhonda Wilson (Revealing Assets - Home Staging Services) almost 8 years ago

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