If you want to sell Las Vegas high-rise condos for the best price, follow the advice below
If you want to sell Las Vegas high-rise condos for the best price, you have to satisfy the Golden Rule which we discuss in the guide to selling Las Vegas homes, condos or high-rise, video, please watch it. When our clients follow our advice, we sell their property for more than the appraisal value and the buyer comes in with cash for the difference!
But we didn’t specifically discuss high-rise condos in this video which we will do here.
One of the biggest factors in successfully selling Las Vegas high-rise condos is correct pricing, and calculating it is done in two steps.
1: Computing the fair market value or appraisal value, which is based on comparable units which have sold recently while adjusting for upgrades, elevation and views.
In a strong seller market, the listing Realtor need to adjust for price gains. For example, if a unit sells in January and prices are up by 8% since then, then the Realtor has to add 8% to the price, and conversely in a buyer’s market if prices have fallen by 8%, it should be deducted by 8%. However, in order to know how much to add or deduct, a very good knowledge of the market is essential.
2: Coming up with the asking list price, which is based on the fair market value and current Las Vegas high -rise condo market. In a strong buyer’s market, the asking list price should be less and in a strong seller’s market more than the fair market value. Overpricing units should be avoided as it prevents the very buyers who are eligible to buy the home from ever seeing it. Most buyers shop by price range and look for the best value in that range.
While Realtors can read about the Las Vegas real estate market and have an idea about it, this is not true about high-rise condos and most only guess at it. However, we do our own research and publish our findings in Las Vegas high-rise condo market updates. Doing so enables us to accurately calculate the correct asking list price, resulting in maximum showings and best offers.
Other important factors which we have discussed in the above video include, ease of access to the property, good pictures and advertising to the widest audience.
Asking for per-approval or proof of funds just to see a unit violates ease of access to the unit rule
In higher price ranges, the majority of listing agents ask for a pre-approval or proof of funds just to show a unit, which is extremely STUPID and violates the ease of access to the property. What is wrong with this is that some wealthy buyers do NOT care about giving their finances to strangers just to see a unit and the poor seller could lose many willing and able buyers without his/her knowledge. Many of these listing agents do not provide the agent’s copy of the listing to their sellers in order to hide their misdeeds, we always provide it.
Asking for the proof of funds or pre-approval has many benefits for the listing agent, like getting the contact information for these buyers so they can pester them later, as well as substantially increasing the odds of doing both sides of the deal and getting both commissions while representing no one which we never do. This is in direct contradiction of putting the client’s interest before theirs and violates ease of access to the unit, thus preventing getting top price.
The above has been a short summary, but you should have an idea about the process now. if you are planning to sell Las Vegas high-rise condos, we would love to have your business while you can be assured that we done our homework and are ready to get you the best possible price.
Please like and share if you find how to sell Las Vegas high-rise condos for the best price useful and specially contact us if you want to sell a unit.