Condominiums have become a commodity in recent years. Its current and instant marketability have invited consumers to avail of condo units in the Philippines. These allow them to choose a home in the most strategic locations of their choice. Not only that, but real estate investment offers a few more options when opting to buy a condo. It tells you that re-selling or leasing out your condo after a couple of years of purchase, or even soon after the purchase and furnishing, is already a good guarantee of earning your money back.
Many Filipinos, especially Overseas Filipino Workers (OFWs) are going into the business of property investment. Having your own property allows you to build your dream home, as well as helps you get a passive income once you retire.
And when it comes to passive income, condominiums are the ones that prove to be the most profitable. With so many renters looking for a place with amenities and accessibility, condominiums have become in demand anywhere in the Philippines.
Rest assured, being in the market of condominium sales and purchases, even when competitors have been multiplying in numbers, is a good business and will definitely give you a good amount of money for you to purchase your own house or another condo of your choice. If you are now thinking of how to sell a condo unit in the Philippines, then here are some effective tactics that will help you win this sale amidst all the competitors.
Stay in the Loop of your network
People are more likely to buy properties from sellers that have been recommended by families, friends, and even acquaintances from the workplace. There is more confidence and assurance that owners of these condominium units will give them a fair price and good quality for what they have paid for. Also, there will be less of a hassle for both parties in this case.
Tell people within your networks, such as in the workplace, school, or family, that you are to lease out your condo or are selling it. Chances are, some of them already know prospective buyers and will help you out in communicating with them. However, even when others freely volunteer to do such, some may still ask for commission to become your broker or to make referrals for you. In such a case, it is always smart to negotiate and prepare an amenable amount of money.
Add Ads
A common way to advertise that you are re-selling your condo unit is to put a sign or note on your condominium bulletin board, but marketing strategies say that it is not enough. Other prospective buyers are already eyeing a condominium online and others may not even know that they are already ready for a condo purchase.
To widen the prospect’s number, you should make several listings on the advertisement pages of both online and printed materials. There are website listings that people visit when looking up a condo unit and printed magazines and newspapers that welcome publication materials for properties being sold. In the workplace or in school, bulletin boards for such are also good areas to invite people.
Ride the technology drive
People are experiencing a technological boom in recent years. Rather than wasting time because of Manila traffic and to spend time commuting from one area to another, eyeing a condominium online is more efficient and is less aggravating since the internet provides contact information and even photos that can interest a client.
The smart technologies’ effect on the real estate industry involves easier access to choices of properties on sale, which people can just look up online through Google and real estate sites. Smartphones, which are designed to let you take and view pictures, allow prospective buyers to see what your condominium unit has to offer them in the fastest time and easiest way possible. With social networking sites such as Facebook, Twitter, and Instagram, advertising is just as easy as clicking a button. To advertise such real estate investment, you can easily upload photos of your unit, highlighting features that will interest clients. Post them and ask your friends to share them through blogs and other online media.
Meet and Greet your market
Know who your prospective buyers are. It is important to consider the location of the condominium and to whom it becomes accessible. Are college universities near the place? Is the condominium accessible to working areas like Makati, Ortigas, or Taguig? Knowing these will guide your marketing strategies, like knowing what to highlight in your online or printed ads.
Highlight and be on the Spotlight
When re-selling your condo, do not forget to highlight the features that interest your target market in your sale announcement. In addition to photos that introduce to them the visual aspects of your unit, details are of equal importance.
Consider what people usually look up through the internet, or ask about considerations in wanting to buy a property like the location, availability, amenities within the condo premises, and the developer of the condominium. The location should highlight the nearest malls, workplaces, schools, churches, and transportation facilities, to give out information about its accessibility. Also, keep in mind that if the builders of your condominium are high-end quality producers, then this will add an impact to prospect buyers.
Build and Sell
Condominiums in the Philippines are marketable either sold as it is or furnished. However, as people are now seeking convenience, a fully-furnished unit will be more attractive to many, especially to college students and professionals, and will be a more competitive property in the market.
People are generally interested to view well-maintained and fixed condo units either through their Smartphones or through a visit. You may develop and build on fixtures, include furniture for their convenience, and just add the expenses on top of the value of your condo unit. It is both a professional gesture and pleasing to have your property ready by reducing clutter and highlighting the good points of your unit.
Know your Facts
The price you set when re-selling your condo should be relative to its current market value. Unreasonably high prices will only leave your potential buyers to question you and will take a long time before you can sell it. To avoid this, check out the current market value. It is now easier because you can just look it up online.
Know how much a brand new condo unit costs in the area and compare it to the price of a similar condo unit, like yours, that is also being currently sold. Peg the price relative to the market of a condominium in the Philippines, but take into account a margin for expenses, like the commission and household expenditure for fixing the unit
If you are thinking of moving into a new condominium, check out Vista Residences!
Vista Residences is the condominium arm of the country’s largest homebuilder, Vista Land & Lifescapes, Inc. that offers ready for occupancy and pre-selling condominium projects in Manila, Makati, Mandaluyong, Quezon City, Ortigas, Baguio, Cebu, and CDO that are strategically located within major cities, in close proximity to premium universities, transit-oriented locations, and developed business districts.
For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.
