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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

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The Top 10 Reasons Why Your Vancouver Condo Hasn't Sold

Vancouver Condo Real Estate Video Blog #209 - December 23, 2008

The Top 10 Reasons Why Your Vancouver Condo Hasn't Sold 

Ian Watt video blogs the top 10 reasons why your condo has not sold in Downtown Vancouver. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real estate Video Blogs.



Ian Watt: Hi good afternoon! It’s Ian Watt. Just heading now to Downtown Vancouver. Wanted to talk to you about your property that expired. Now there could be a million reasons why your property is expired and it failed to sell. But I came up with a list of top ten reasons why your place is expired and hasn't even change hands yet. Well first of all number ten I got to say it's probably over priced that's a bit of an issue. Next thing is number nine I would say that your bias opinion are getting in the way of your realtor. Now there could be other reasons maybe you don't even live in your property or maybe its just doesn't show well. There's nothing in there that makes appealing for a prospective purchaser maybe you need to stage it or rip some stuff out there clean it up of it. And number seven maybe the location is unappealing there's nothing we can do about that but that's affected by the price that your asking. Perhaps your getting the wrong exposure. Now exposure is key great photographs that is a huge one so many realtors are not even putting ten photographs out there but some of the photographs are just awful. Just awful photographs so get professionally done photographs I think that's number five. Down to number four it could be on a lockbox and if you are selling a condo in Downtown Vancouver very few realtors have lockboxes. Most by say you can't even have a lockbox so that's another reason so if your realtor is using a lockbox or was using a lockbox in Downtown is probably not selling because its not getting exposed at all no one can get into it. Another reason is it could be tenanted and you might have a really uncooperative tenants and that's an unfortunate situation. But developing a great relationship with the realtor and the tenant could make the difference. And the number one reason your place not sold and it's expired is because you hired the wrong realtor. If you don't hire a realtor. If you hire a realtor I should say that works houses or works Coquitlam or Burnaby and your trying to sell a condo in Downtown Vancouver. You will have a hell of a time because most realtors that don't work the Downtown condo market don't realize the differences between 1295 Richards and 1238 Richards and 1280 Richards. There are three different buildings Metropolis, Oscar, and the Grace all within the same block and the price are from 500 to 1500 dollars a square foot. It's amazing the differences. So if you don't hire a realtor that knows the difference between this condo and the other. Your property is never gonna sell in this market. My name is Ian Watt. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!