Susan Chong, the owner of Iconique Real Estate, is going above and beyond to help close condo deals in The Coloradan at Union Station. She is offering a generous $5,000 incentive to buyers who purchase one of the eight condos she is currently listing. This money, which comes directly from Chong’s own commission, can be used by buyers however they please, with Chong marketing it as a free vacation anywhere in the world.
The reason for this unique incentive is the cooling condo market in Denver, with sales down 35% since 2020. According to data from the Denver Metro Association of Realtors, sales of attached properties have been steadily declining since their peak during the pandemic in 2021. To combat this trend, Chong wanted to offer something different to catch the attention of prospective buyers.
Buyers who close on designated units in The Coloradan by the end of the year will also receive additional incentives from the sellers, such as a year of HOA dues, free parking, or both. With parking spots costing $230 a month, these bonuses can add up to significant savings for buyers. In some cases, seller bonuses range from $10,000 to $17,000.
The Coloradan offers a variety of units, including market-rate studios and one-, two-, and three-bedroom apartments, as well as income-restricted units and penthouses. Chong’s promotion is specifically targeting second-home buyers and those with family connections to Colorado, such as children attending college in the state.
The promotion has already seen success, with several units at The Coloradan selling since May. The average list price for these units is $920,000, showcasing the luxury and appeal of the building. Chong’s unique approach to incentives has helped attract buyers who may not have otherwise considered purchasing a condo in the current market.
Living in downtown Denver offers a range of benefits, including easy access to healthcare, the airport, shopping, sports teams, dining, and entertainment. For buyers looking for a convenient and luxurious living experience, The Coloradan and Chong’s promotion offer a compelling opportunity to invest in a new home.
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