Tips & Tricks

Not Just Downsizing…

What Are Condo Buyers Really Looking For?

Given the rise in housing prices, many people are opting for the ease and convenience of condo life. With amenities like swimming pools, gyms, and common areas that don’t require maintenance, it’s no wonder people are opting to downsize.

But it’s more than that…

For property managers, realtors, and association management companies, it’s important to remember what attracts potential buyers, especially if they happen to be moving into a smaller space for the first time.

Here’s what you’ll need to highlight:

  1. How active is your condo board association? A responsive and engaged board is a huge selling point for some potential buyers. Make sure you explain this aspect of your community.
  2. In saturated markets with countless options, buyers are wanting to see a variety of offerings. Be sure to show as many available units as you can, walk around the entire building to highlight amenities, and give an overview of the local community culture.
  3. Remember: buyers might not always tell you exactly why they are looking to move (especially if they are downsizing) so it’s important to give them an overview of what life would be like in the condo community.
  4. Be straightforward. Condo buyers want to know exactly what their monthly fees cover, so have it ready and clearly displayed. And don’t forget, potential buyers will often want to speak with current owners to get a sense of what it’s like to live in the building. Why not take the initiative and introduce prospective buyers to members of your board association or happy tenants?
  5. Explain the day to day: this is especially important for those moving into an HOA/Strata for the first time. Online community management might be quite new for some folks, so walk them through how it works.

If you’re new to online management yourself, why not try it for free for a month? Get in touch today and see what Concierge Plus can do for you.