Unless you've been hiding under a rock, you know that the condo market right now is a little "soft".  There's more condo inventory, less condo buyers, condo loans are tougher, and prices have gone down.  So, what are you supposed to do when you're ready to move out of your condo?  Here are 5 up-to-date tips that will get your condo in the best position to sell:

1) Price your condo aggressively: in many buildings, there are more than a few condos actively on the market.  There's nothing you can do about that, but there is something you can do about positioning yourself amongst them.  Condo buyers are most likely first-time homebuyers.  They have their pick of the litter (foreclosures, short sales, investment units) and will wait until they see that best product for the lowest price.  Appraisers are more conservative than ever and, even if you and the buyer agree to a sales price, the appraiser has to come to the exact same conclusion.  If there are no comparable properties to support your sales price, the appraiser's numbers will come up short and you may end up with a deal that's dead in the water.  Remember, you can control the asking price of your condo, but you can't control the sales price because that's driven by the market.  Sellers misconceive online home-pricing sites like Zillow or Trulia-- they may be in the ballpark, but they are automatically generated and specific features or amenities are not taken into consideration.  A true market analysis is done by a Realtor and requires expert analysis and knowledge of the market.

2) Stage your space: I just found a fantastic article about staging and it outlines a few tips that I think are incredibly suitable to today's market.  One of the things I think is so important is to differentiate your condo from the next condo down the hall or down the road.  You can do this by hanging simple art pieces or by painting rooms different colors.  Don't get too crazy with paint colors-- how about doing some dynamic neutrals.  I'm not talking about biege in every room-- I'm just saying try to get creative without painting a wall dark red.  Keep it light and sunny in order to create the perception of space.  In the new construction buildings especially, builders tended to offer only a few colors and it may differentiate your condo if you stay away from those builder colors.  Read this article on Staging Your Condo!

3) Make sure your Realtor networks with First-Time Homebuyers: HELLO!  These people will be either looking at everything on the market or specifically at your condo!  I find that utilizing online networking sites such as Facebook, LinkedIn, blogging (and any other site where I'm able to network and share my properties) generates buzz going around about my properties for sale.  You would be surprised at how it takes just one person to pass it along to their friend who decides that your condo is right for them.  There are buyers out there who are looking for the "right thing to come along", but are not going out regularly looking for condos.  I also offer homebuyer seminarswhich attracts the very first-time homebuyers who going to be in the market for your condo! 

4) Pictures are worth a thousand words: even if your condo is small or open and there don't seem to be a lot of angles to photograph, please make sure that your Realtor is hiring a professional photographer.  I cannot stress this enough-- this is the very reason that a buyer might decide to look at your condo and not the one down the hall.  I have seen hundreds of condos that have been poorly marketed, beginning with the photography.  The more photos, the better.  I hire a photographer who, not only takes 30+ great photos at all different angles, also optimizes each photo in order to present it in the best light.  Believe me, good photographs = showings!

5) Hire a Realtor who has a proven track record: there are Realtors who will "buy" your listing by telling you a high sales prices and offering to sell at a low commission, but remember this-- you get what you pay for.  This is a business that I take very seriously and I do not get paid until your condo sells.  With that said, it is a business and I have a fee that is both fair and keeps me doing what I do best full-time.  You hire me for my expertise and professionalism and that includes being honest and giving you a realistic view of the market.  Your Realtor should have current experience in the condo market.  Ask your Realtor how many condos they have sold and how many they have listed.  Also, ask your Realtor to provide you with a most recent story of how they negotiated a transaction that hugely benefited their sellers.  This market is filled with intricacies and tough negotiations.  You need a Realtor that can keep up with the changes!

Happy Condo Selling!