Q: “Denise, I have had a few condo listings lately and have determined that I really like selling them! What are some things I could do to get more condo listings?”
What a great question! My first farm area was in an area of townhouses. There is something very unique about townhouse/condo living and it makes for a unique product. I think this is an under-utilized lead generation option in many urban and recreational areas, so I commend you for going for it.
If I were starting out in a condo community I would:
- Do my research. I would research all the sales in that building over the last three years. I would learn about the builder, what makes the building unique in terms of amenities, understand how the dues work, learn about the rules (parking, rentals, pets, open houses, what can and cannot be done in outdoor spaces, etc), and learn about the association and how it works.
- Scope out the competition. As I reviewed the sales history, I would determine if there are any other agents in the building with market share. There are usually a number of condo building options and by determining if someone else already has market share, that can determine if this is a wise place to invest my marketing dollars.
- Learn what I could about possible upcoming assessments or repairs. If a condo building hasn’t set aside enough for upcoming repairs, an assessment may be in the condo owners’ future.
- Get the names and addresses to begin my mailing campaign.
- Mail each month consistently! I would send them information on the market and about local condo sales. Of course, if there are condos on the market in the building, I would also keep them up to date on those as my MLS allowed.
Of course, I would also talk about this building on my Facebook page, create blog posts and videos so if would-be buyers or sellers are looking online for information, my name would come up as the local expert. I would also participate in the building’s Facebook group if allowed and stay up-to-date on issues at the association level.