Are you hoping to sell your Toronto condo quickly? If so, you’re not alone. Due to the city’s short-term rental registry, an influx of AirBnB operators are putting their units on the market—and planning for an expedited sale.
The good news is, there’s no shortage of buyers out there who are aware that now is a good time to purchase. They’re looking for the right opportunity, and many of them will be amenable to closing the deal fast.
If you’re ready to sell your condo—no matter the reason—here are five tips for getting it done quickly…
1) Price it right
To help you make an informed pricing decision, your agent will prepare a comparative market analysis—a document that looks at recent local prices for units like yours. From there, you’ll strategize together to choose a number that will help you meet your goals.
When one of your primary aims is selling quickly, pricing competitively can help. The good news is, you probably won’t have to put nearly as much time into improvements as you would if you were selling a house. Negotiations focused on repairs can draw out the process—something condo sellers don’t have to worry about.
2) Stage for success
Staging a home is about boosting its appeal in the eyes of as many potential buyers as possible. If you want to sell your condo quickly, you might think about forgoing the process to save time. Unfortunately, that may not be the right move.
The truth is, when your property faces a lot of competition, it has to stand out. On the bright side, less square footage means less space to focus on. Your agent can help you achieve small improvements that will make your unit feel bigger, brighter, and more polished.
3) Marketing considerations
When it comes to capturing the attention of buyers within a short timeframe, marketing is crucial. It’s all about finding the right buyers for your property—and deciding on the most effective way to target them.
No matter your strategy, it should include high-quality photographs and video. The vast majority of buyers will be finding your home online, and their first impression could make or break their decision to set up a showing. In other words, when you’re pressed for time, compelling imagery isn’t something you should consider cutting out.
4) Look for a flexible buyer
If you’re lucky enough to receive multiple offers, the one you decide on could have an impact on your timeline. The truth is, it’s always tempting to go with the buyer who bids highest. However, there are other factors to consider if selling quickly is your biggest priority.
Is the buyer you’re thinking of working with flexible when it comes to timing? Are they making a clean offer? Remember that when there are conditions involved, it can lengthen the overall timeline.
5) You should be flexible, too!
Selling in a hurry may require a little flexibility on your part. It means keeping your unit in show-ready shape—and being prepared to have your agent bring buyers around. When time is of the essence, you want to take advantage of every potential opportunity.
Completing a quick, convenient condo sale can be a challenge, especially in a crowded market. Fortunately, an open mind and assistance from the right real estate professional can help ensure that you meet your goal. Are you ready to make a speedy sale?
Have questions about what’s happening in the Toronto condo market? Call or text to learn more: 416-500-5360 / Email: info@rashidnotash.com
