By all accounts, the real estate market in Toronto, Ontario, Canada has been performing consistently well for several years.
More recently, the headlines and the soundbites proclaim Toronto properties are a HOT commodity!
It’s certainly true Canadians have not been swayed by the pressures of the pandemic. Due to the complex intersection of several factors I wrote about in The Season Of COVID-19, Toronto’s lack of housing supply, a surge in pent-up pandemic demand, and the desire for more space saw real estate values escalate at a substantial pace. Here’s our post called Bidding Wars And The Psychology Behind The Hyper-Competitive Toronto Real Estate Market, and how it’s shaped our real estate market for over 20 years.
How Sellers Can Select The Right Buyer
At Urbaneer.com, we’ve found that Sellers not only consider the price people are willing to pay for their property their only priority, but there are often other factors that are important. Like determining which Buyers are keen to buy for the existing fabric of the community (like the fantastic local public schools or family-friendly recreational amenities, etc), who is willing to assume their long-term tenants, or who appreciate the features and upgrades of their dwelling. Plain and simple, for Sellers it is not always about the money, but about passing the property on to Buyers who will genuinely enjoy and benefit from the home they themselves have cherished.
For those Sellers who want this opportunity, there is a sales process called the List Low Holdback Approach, where the property is offered for sale for 7 to 14 days before offers are submitted on a specific date and time. At that set date, prospective Purchasers or their representatives submit their bids to the listing realtor, who then reviews each of the bids and all the accompanying documents (which may include a letter from the Buyers) with the Sellers. The Sellers can then decide whether they would like to accept one of the bids, or whether they would like to reject all the bids. The Seller is never obliged to accept any of the Offers, for any reason.
This was exactly how we navigated the listing and sale of a semi-detached family home that we recently sold in Swansea, located in Toronto’s central west end. Our Seller – who had relocated out of the province – sought not only fair market value for her home but a Buyer who would assume the long-term tenant and was willing to facilitate a quick closing.
The Urbaneer Marketing Program
To serve our Seller, we offered the property on the MLS (Multiple Listing Service) and custom-tailored a marketing program to expose the house to the largest pool of potential purchasers. This generated an abundance of interest that then translated into many interested Buyers, allowing the Seller the opportunity to choose the bid which best aligned with her objectives and desires.
Listed for 13 days, the successful Buyer never crossed the threshold, and instead relied on our comprehensive digital package to feel sufficiently informed to proceed with the purchase. The Buyer was one of the 19 parties who submitted offers for our Seller’s consideration. Our Seller accepted this bid, because it was for $1,575,000, having no conditions and accompanied by a sizeable $200,000 deposit, with the existing tenants assumed and a closing date just 5 weeks later!
Here’s how we did it!
The Sales Program
We brought this Sun-Soaked Swell Dwell In Swansea to market for $999,000 and exposed it to the market for 12 days before receiving offers for our Seller’s consideration.
The day it came to market, we sent a direct mail postcard (see above) to 4,400 households in the surrounding Swansea, High Park, and Bloor West Village neighbourhoods.
Every Buyer who showed the property received a digital promotions package that included a custom-designed Sales Prospectus outlining the benefits of the neighbourhood, the features of the dwelling, and a comprehensive summary of the income, expenses, and property upgrades. We also had a Tenant Package and a Presale Home Inspection Report that was available on request to the most interested parties. This digital package was received by potential purchasers situated both in Toronto and several locations across the globe. This is an essential tool to convert potential Buyers into active Bidders.
Leading up to the offer date, we promoted this charming residence to both the surrounding neighbourhoods (as research shows many people living in an area are seeking to climb the property ladder, or who know friends and family who would like to live in the area) and its target market, rolling out several pieces of engaging urban lifestyle content that we post on our blog and social media feeds – including Facebook, Twitter, and Instagram.
Targeting The Buyer By Promoting Your Location
Here is the custom content we created and published before the scheduled Offer date to attract Buyers to the property:
Each one of these articles ends with a ‘call to action’ to view the listing, and each was promoted through various social media platforms. In fact, the number of views we received on our listing on Urbaneer.com – A Sun-Soaked Swell Dwell In Swansea – was extraordinary.
A Sales Program Tailored To Buyers, And You!
Although most any realtor can sell a property, finding the right Buyer – including those who live outside the city and never cross the threshold of your dwelling – requires a company that understands the nuances of your property type, where it’s located, who the Buyer profiles are, and how to be effective in capturing their attention and convincing them it has all the qualities they’re seeking.
It’s also about meeting the individual needs and criteria of you, the Seller. Whether you’re looking to facilitate a quick sale, find a Buyer who is will complement the fabric of the community, or you’re wanting top dollar, at Urbaneer.com, we welcome facilitating your particular needs and requirements. We do not subscribe to the one-size-fits all approach to the sale of real estate!
Want to learn more? At Urbaneer.com, we offer a strategic sales program derived from data, comprehension, and historical knowledge gleaned from decades of experience. Check out our approaches and strategies to marketing properties in Toronto, Ontario, Canada in:
Psssst… it works!
Are you planning to sell your property now or one day in the future? We have a sterling track record as one of Bosley Real Estate’s Top Producers spanning 30 years. We are committed to excellence.
With three decades of experience navigating the ever-changing Toronto real estate market, a commitment to promote the sale of properties like yours with interesting and relevant information, and the ability to guide Buyers with credible insights and well-informed guidance, the Urbaneer Team help without pressure or hassle.
Thanks for reading!
-The Urbaneer Team
Steven Fudge, Sales Representative
& The Innovative Urbaneer Team
Bosley Real Estate Ltd., Brokerage – (416) 322-800
– we’re here to earn your trust, then your business –
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*Love Canadian Housing? Check out Steve’s University Student Mentorship site called Houseporn.ca which focuses on architecture, landscape, design, products and real estate in Canada.