Selling your condo in the down market can be tough. Try these tips to gain the edge you need to make the deal.

The days of home sellers receiving calls back-to-back about a condo for sale is long gone. Today, you’re lucky if you even get a phone call at all. Selling a condo has become more stressful than ever before; Especially since the amount of people looking to purchase condominiums has dropped significantly throughout the U.S. When most people put their condo up for sale, it’s hard to image that there’s a strong possibility that a home may not sell as fast as one had planned.

Many sellers actually believe all that is needed to sell a condo in today’s real estate market are a few attractive features such as limestone flooring, a sauna and panoramic views of a cascading river or a breathtaking city skyline. Those are all great features—the more features the better. However, in a bad economy, it takes a lot more than panoramic window views and top-of-the-line amenities to sell a condo. You have to be extremely creative when it comes to giving a buyer a reason to want to buy. If you’re having difficulty selling your condo, don’t worry, you’re not alone. The following are a few tips to help you sell your condo faster during these tough economic times:

1. Consider marketing your condo internationally. Don’t limit yourself to selling in the U.S. Many foreigners are taking full advantage of the weak U.S. dollar. According to the National Association of Realtors, the top five countries that are investing in U.S. real estate are: Mexico, Canada, United Kingdom, India and China. Now’s the perfect time to market your condo internationally.

2. Make sure that you have high-definition photos and a robust description of your condo. By taking good photos and writing a thorough description of your condo you will give potential buyers a better idea of your condo and incite more interest and inquiries on your ad. Another effective way to market your condo is by hiring a professional videographer to produce a virtual tour of your condo.

3. Join an online real estate portal and list your condo for sale. Statistics show that the majority of people, over 80% of buyers, actually begin their search for a home on the Internet. Several condo owners have found buyers and even rental tenants through online advertising.

4. Offer an incentive for your potential buyer. There are a variety of incentives that you can offer a home buyer to help persuade them to purchase your condo. For example, you can offer a luxury 2-week vacation getaway at a resort or a free romantic cruise for two. Some sellers offer gift certificates to local furniture stores. You can even offer free upgrades such as granite countertops in the kitchen and bathroom(s).

5. If selling your condo on your own is too mind-boggling and time consuming, find a good real estate agent to sell your home for you. A good agent will work overtime to help you sell your home.

Thanks for the above guidelines. This gives a better exposure and more potential customers to your property. However I would also like to add a more targeted approach. The distinguishing aspects of that apartment, it could be anything like its proximity to some key places, better suitability for specific communities etc. The leads resulting from this approach have a better chance of closing and also a give a better price for your property.

I would say that in this market... effectively marketing a condo is lowering the price... I would do anything to market it that does not require capital, but at the end of the day a 1,000 dollar price reduction will probably be more effective than 1,000 dollars on marketing.

The MLS is probably were 75%? of people start and end their search for real estate... right?

I would suggest all kinds of free real estate advertising, but at the end of the day it will come down to the price of your condo.

Price, Condition & Marketing. What more can you really say?

One of the best offers a seller can make to a condo buyer is to pay one or two years of HOA dues in advance for them. This works like a charm every time.

I like that idea about the sweller paying the HOA for 1-2 years. But the 4 Factors that Influence Home Sales are Price, Condition, Location and Marketing. An overpriced home will not sell in today's market no matter how great the condition & location or how much you spend on marketing.

I have to agree with Kevin Curtis' post.

In this market here in Minnesota, price, condition and marketing really do remain paramount.

All types of properties on MLS are selling quickly....homes, condos, townhomes! What a market we are in!

If you price it well, do not have look for buyer in China or India. There a enough buyers here.

I think this is cap trick. Most of the buyers know simple math, at least mine. Just offer $4, 000 less and will sale faster for more money, while to wait someone to bite the hook with two years HOA. The simple math shows that after two year s you have to start paying HOA. If somebody thinks to stay less than two years in this condo then that should work.

To sell a condo or single family home as quickly as possible and for the most amount of money, make sure it has been professionally staged and price it just a bit below current comps.

Condos as of now is the most volatile and in demand real estate investments. In fact condos is the tougher sell in most areas compare to single-family home. As the demand on it is high the selling competition is also high and in order to sell it quickly make sure that purchasing price is right. When the price is right and reasonable many buyers will go for it.