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New Orleans Condos-Know the sellers motivation for selling! Know their timing?

    Knowing the sellers motivation  for selling is great fact to know when making an offer on a condo.  In general people selling condos tend to be more motivated than house sellers as the condo sellers are moving somewhere else.  They do not want an empty unit and are not likely to want to rent it out from a distance location.  If the seller is not local this becomes even harder.  The seller may be changing jobs, getting married, finishing school , or moving to another unit or buying a home.   

     When is the seller moving?  Many time the sellers puts up the unit before hand and will want to see what they can get for the unit.  The listing agent may not want to tell the seller what the unit is worth.  The longer it stays on the market the harder it is to get that buyer.  People begin to wonder what is wrong with the unit and forget that it was priced high in the beginning.   

French quarter condos

     Look to see if the seller got a good deal when they bought it.  Sometimes the seller paid too much for it when they bought it and think they have to at least break even.  This may not be the case unless its a great unit and improvements have been done.  Many times a seller bought the unit as a pre-sale or got a good deal on it.  its worth checking the history on the property.

    Is the unit rented?  Many times sellers renting have income coming in and are not that motivated.  After the tenants move out, the sellers become much more motivated.  Many times the tenants make it much harder to show.  It may also show less well.  The opposite of a staged unit is one with a messy tenant.  It can make a huge difference in peoples perspective of the unit.

     How long has it been listed at this price.  Have previous deals fallen through?  The seller is more ready the second time around.  When did the unit get to the correct price?

    I find people who sell that use the units as second homes tend to be on target as to the value of the unit.  They are generally selling for a reason and when a fair price comes along they will be eager to take it.

    Knowing what the unit is worth is the most important fact to have. This is where an experienced agent can help you with.  What are the trends? What are the pros and cons of each unit.  Seeing the unit through the eyes of others is a great way to look at it.

Destrehan Plantation

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  1. lana

    Hey, where is the pictured plantation??? How far from New Orleans proper!
    Lovely home!
    lana

  2. Kristal Kraft

    You are correct if we can determine a seller’s motivation when making an offer it’s easier to tailor the offer to be accepted. Of course most seller’s and listing agents keep quiet about the true motivation when it comes to things that could make the seller look “disparate” because they don’t want to lesson the seller’s negotiation position. Many times what the seller wants is something the buyer can accommodate, further out closing date, not having to do repairs or something the buyer can work around. Knowing what that is helps make a win-win deal for all.

    I love your photos, you live in a photographically rich environment!

  3. marco

    I totally agree, knowing the motivation of the seller is crucial to an effective marketing strategy. I’m also considering using a specialized copywriting softwared called Glyphius. Has anyone had any experience with this? It is supposed to use statistical analysis to optimize the wording of your advertising copy.

  4. Eric

    Lana, Destrehan Plantation. Its upriver from New Orleans along the Mississippi. People never think that you can see these things within 45 minutes of town. Its 15 minutes from my house.

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Eric Bouler Realtor
Gardner Realtors
Metairie - New Orleans, La. USA