A lot can go into selling your condo in Toronto. As we move past a very uncertain time in real estate with the COVID-19 pandemic hopefully coming to its final months, more condos are coming onto the market and fetching record sales prices.
It is, once again, a great time to sell a condo in the GTA. If this is your first time selling a condo, here are 7 things you need to know and what to expect throughout the process.
Selling Your Condo in Toronto – 7 Things You Need To Know
1. Price According To Competition
Your condo is surely quite similar to various other units in your building and area. Consider your condo in relation to these other units and price accordingly. You may discover you can offer a higher price than you originally thought possible once you see what similar units are going for.
2. You Can List Any Time Of Year
December and January are the slow months in Toronto condo selling but due to the low supply and high demand, you can list during this time and still receive top-quality offers. When competition’s lower, you may also find certain advantages to listing during these months.
3. Be Ready To Act On Offers
Know what you’re looking for. The thing about condos is that a buyer knows if they don’t get a unit they’ve bid on, there’s going to be another one on the market in no time. There’s less attachment to condos than with houses. Therefore, when you get a great offer and you think that’s the one, don’t wait to close.
4. Advertise What’s Unique To Your Condo
In your listing, consider what makes your condo different, i.e. upgrades, renovations, ceiling height, if there’s a storage locker and/or parking space included, if there’s a balcony or terrace, and what the building amenities are. Also, emphasize the location and what the condo’s in close proximity to.
5. Clean And Stage A Condo
It is best to invest some time in staging your condo for sale in Toronto. Remove personal items, clutter, and overly large furniture that can make a room look smaller than it is. Clean all the countertops, kitchen cupboards, bathroom vanity, and get everything sparkling. Even in a real estate market like Toronto, you still want to maximize your offers and staging plays a key role in that.
6. Be Flexible With Showings
If you have a tenant in the condo, you have to provide 24 hours’ notice for any showings. Be flexible with when a potential buyer wants to see the unit as well. Fortunately, in a market like Toronto, there likely won’t be too many showings until your condo is sold.
7. Connect With An Excellent Real Estate Agent
Lastly, be sure to have a real estate agent that’s experienced in selling condos in Toronto. They can help you list it in the right light, with professional-level photographs, videos, and more. You also will have someone there who knows the ins and outs of selling, and can provide further consultation on what to expect.
Are you looking to sell a condo in Toronto or Etobicoke?
We’re the real estate agents that can help! Connect with Adrian + Andrea today.