SELLING YOUR CONDO? HERE’S HOW TO TARGET THE BEST PEOPLE AND GET TOP DOLLAR

WHAT’S THE GOAL?

Selling your condo fast and for top dollar the sisters are looking at their computer after selling their condo online
is your goal. Then the best way to do it
is to use a highly effective target
marketing strategy.

It will require work and observation to
attract the attention of the most qualified
people to your condo only, but if you
don’t know how to do it, don’t worry.

This article will teach you!

Moving is always an enormous undertaking,
and it can be incredibly stressful when
you’re trying to sell your current home
at the same time.

It’s always either a lack of interested
buyers or lots of calls from real estate
agents and unqualified home buyers
wasting your time. I feel your pain!

ONCE UPON A TIME,
OPEN HOUSES WERE WORTH IT

Back in the day, when done correctly,
hosting an open house was a very
effective way to showcase the home
to many qualified potential buyers.

We still had the “looky-loos,” those
people who have absolutely no genuine
interest in purchasing the property
also showed up, but that comes with
the territory.

By the way, it’s essential to know that
a successful open house takes planning,
preparation, and lots of work, which can
often pay off in the form of several offers
on the place; otherwise, what’s the point
of doing them?

However, we live in a different time now.
There is no way of knowing if you’re working
with a “qualified” buyer or a “dangerous liaison”
the population of people with little or no
conscience or empathy.

“WORKING WITHOUT SAFETY
IS A DEAD-END JOB.” — Author Unknown

I cringe and say a silent prayer for my
colleagues who throw caution to the wind
and sit in an empty open house, testing
their fate.

According to a recent study, holding an
open house may increase the likelihood
of a home invasion or burglary!

Researchers believe that open houses
allow criminals the chance to scope
out potential targets.

Unfortunately, sellers think having
an open house is a holy grail to
selling their condos, so agents
appease them by diligently holding
them and producing little to no results.

THERE’S A SAFER WAY

If only the seller knew there was a safer,
more effective way through marketing to reach
the right buyer for their home.

Once you understand how segmented or target
marketing can create the opportunity for selling
your condo for TOP dollar in ten days or less to
a highly motivated and approved buyer, those risky
old-school methods become outdated.

After becoming disenfranchised with hosting open
houses for my sellers, I had to find other effective
ways to market and get their properties sold.

UNDIFFERENTIATED MARKETING
VERSUS
DIFFERENTIATED MARKETING

After researching online, I became intrigued
with Nike’s way of reaching its customers.

I decided to copy their marketing model to
help sellers in my real estate business,
but I’ll get to that later in this article.

The first step to selling your condo for
TOP dollar is to know the difference between
traditional “ineffective” mass marketing and
a targeted “highly effective” marketing approach.

Undifferentiated or ‘mass’ Marketing targets
everyone as a potential customer.

This type of old-school marketing aims to reach
as many people as possible in the hope that they
get on board with your brand.

SOMETIMES CHEAP ISN’T THE BEST WAY TO GO

IKEA uses this method successfully, unfortunately,
not so much for selling condos, I’m afraid.

One advantage of this approach is that it’s cheap,
but the downside is the risk of over-exposure
and extremely high competition.

Mass marketing usually occurs when a product or
service has a high market appeal.

But research has shown that the lack of a targeted
strategy is like cutting your nose off to spite your face.

Today, consumers want to be treated as unique individuals
with highly personalized services, products, content
and messaging.

Differentiated or ‘segmented’ Marketing entails isolating
several primary target segments with the most potential
value for the product or service.

THIS IS WHAT NIKE DOES

It makes sense, but let’s make it a little more transparent
with an example, as promised earlier, let’s use Nike…

This brand demonstrates this marketing strategy exceptionally
well. In terms of footwear, their most popular selling brand
is “Air Force 1.”

Rap singer Nelly sang a song titled Air Force Ones, which
peaked at number 3 on Billboard Hot 100, which had to have
helped boost sales.

Click this link to listen to it. I know I was bouncing
my shoulders and moving my feet to the beat!

Like most other clothing brands, Nike offers different
products for different audience segments.

They have running shoes for athletes, casual shoes
for everyday wear and even fashion-forward sneakers
for those who want to make a statement.

Nike defined a few targets, then developed a separate
marketing strategy for each.

WORKS WELL FOR SELLING YOUR CONDO

Proving that segmented target marketing is highly
effective because it understands that consumers fit
into different groups that require and respond well
to personalization. This same method also works wonders
for selling your condo too!

By catering to different segments, Nike reached a
broader range of consumers and sold more shoes.

It’s imperative to think about more than just the
product offered when developing your marketing strategy.

Equally important is to also consider the different segments
of the market and the best way to reach them.

Target marketing dominates by “sneaking” past
the walls of competition like a thief in the night without
overstimulating consumers, unlike undifferentiated/mass marketing.

I want to reference this next paragraph with a quote from
Theodore Roosevelt (the 26th president of the United States)
because this type of marketing, while highly effective,
comes with a downside. The quote says …

“Nothing in the world is worth having or worth doing unless
it means effort, pain, difficulty… I have never in my life
envied a human being who led an easy life. I have envied a
great many people who led difficult lives and led them well.”

The only downside to segmented target marketing is that it’s
not cheap! Hopefully, you now get the meaning of President
Roosevelt’s quote.

SO, HOW DOES THIS HELP SELL A CONDO?

Unfortunately, most “do-it-yourself” condo sellers have no
idea of what target marketing is or how to utilize it to get
top dollar for their condo.

Let me show you how to take effective action so you can immediately
sell your condo, and move on to your next chapter in life.

While you’re preparing your place for sale, you have to objectively
decide WHO will be interested in buying your condo.

With a bit of thought, you can easily create an “ideal prospect”
that is most likely to be interested in giving you your total
asking price based on their housing needs.

For example, if you are selling a condo in downtown Chicago,
your target market might be young professionals, empty-nesters,
or first-time buyers looking for a low-maintenance property.

Besides wanting a practically maintenance-free place to live, what
other interests would an empty nester, a young professional, and first-time
home buyer have that your neighborhood and building could offer them?

knowing this information and understanding how to use it to attract
the most qualified buyers are vital to positioning your condo to be in
a category of one!

HOW DO I IDENTIFY MY TARGET?

Once you have identified your target market, you can use various marketing
techniques to reach them, such as online advertising or targeted mailings.

You may not be aware of this, but you can buy a marketing list of the best
prospects in your area based on their hobbies, careers, and interests.

Most owners forget their condo’s other benefits and tend to focus more
on just square footage, bedrooms, and baths.

Yet a more visionary approach is to determine the best features of your
neighborhood, school district, and specific features inside and outside
the condo and then find the prospects that would have a favorable response
to your property.

For example,  you could turn a spare bedroom into a workout space,
then target people who like to work out or do yoga but don’t have
time to go to the gym, or if you have an area that can be an office,
then you target people who work from home.

THIS IS WHY YOU’LL WANT TO “BITE THE BULLET”

You can significantly increase your chances of making a successful sale by
taking the time to market your home effectively, and this type of marketing
isn’t up for debate as it is a proven fact to work.

The benefit to you is that the buyer will ONLY look at your condo and the asking
price won’t be a significant factor because it matches their needs exactly.
So, they write you an offer and prepare to move!

Target marketing is undoubtedly more detail-oriented, but it can be your most
profitable technique for the difference in the overall sales price and the length
of time your condo stays on the market.

In today’s market, nearly everything aggressively marketed is gone within
two weeks (or less), so anything for sale longer than that time frame may
raise a red flag to other buyers, signaling a problem with your property.

In some scenarios, pricing may NOT be the problem but an issue of inadequate
exposure to the correct prospects.

This can easily be fixed by anyone that wants to launch an EFFECTIVE marketing
a strategy that reaches out to the highest quality prospects who demonstrate some
hobbies, interests, status, or qualifications that show they’d be interested
in a condo like yours.

Utilizing a professional list brokerage, you can get a list of prospects
as detailed as you’d like that describes their lifestyles clearly down to
the type of car they drive!

GIVE ME A HAND!

Of course, you’ll need to create a marketing campaign to launch to these
people, and if it’s not something you do consistently, it will take
time and work to set up.

Or you can consider working with a trained Target Marketing Specialist who
can expose your condo to the best buyers using this segmented approach.

I work with the best copywriters and know how to target the right buyers
who would be interested in your condo, as well as create the entire lead
generation campaign, and ultimately find a highly qualified buyer that will
pay a premium for your home.

Yes, the state of Illinois requires that I be a licensed real estate broker
as well, but more importantly, I have the training and the finances to invest
in exposing your home to the right buyers.

This process is not cheap, but it certainly beats the alternative of selling
for a lower price, taking too long or worse, giving up on your original goal,
and not selling at all.

It’s the only way I know how to sell your condo quickly and for more money.
So if you’d like to sell your home immediately, here is your chance.

I’m a Target Marketing Specialist encouraging you to take 15 minutes of your
time and speak with me.

This is a no-obligation consultation and service I provide to owners who are
serious about selling their condos. You can call or text me at 312-600-8121
or click here to send an email. You’ll get a response from me within 24 hours.

 

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