Is it time to sell your loft? While you may think that selling a loft is the same as selling a house, there are distinct differences that are important to know before putting yours on the market. Check out these pointers to ensure you sell yours quickly and for a profit.
Consider the timing
Generally speaking, most real estate experts agree that spring is the best time to put a home on the market. While that may be true for a single-family residence, it isn’t always the case for a loft. If your loft is in an area that is a popular tourist destination, you’ll want to take that into consideration. Are you near the beach or a ski resort? You’ll likely have the most luck selling your loft right before the tourist season begins, when many potential buyers may be looking for a vacation home.
Know the comps
Pricing a single family home can be challenging, especially if there are no suitable comps nearby. This is one area where loft sellers have a leg up, as recent sales data from units identical to yours can be used to determine your selling price. However, you should keep in mind subtle differences that can affect your listing, such as where your unit is located in the building and what amenities you may or may not have compared to other units.
Make the most of staging
lofts tend to be smaller than most single-family homes. They are also very similar to all the other units around it, making it difficult for yours to stand out. Staging becomes very important when selling your loft. Do a thorough sweep to clean, repair and de-clutter. You don’t want excess furniture hanging around making the space feel small. Use staging to highlight any qualities that make your unit special, such as a great view or upgraded, custom cabinets.
Market it right
loft living appeals to a certain kind of buyer, so it’s essential to market your loft in a way that will emphasize what potential buyers are looking for. lofts offer ease of living and access to community amenities that are typically not found in single-family homes. They often appeal to those who travel, who don’t want to spend time maintaining a yard or who would like the advantage of having a pool without the tedious maintenance. Know your audience and speak directly to them.
Work with a qualified real estate agent
Finally, work with a qualified real estate agent who has experience marketing and selling lofts in your area. When interviewing agents, be sure to ask how many lofts they typically sell in a year and how they intend to market your loft to potential buyers. Having an experienced agent in your corner will ensure that your loft shows well so that you have the best chance of selling it quickly and for a great price.
