About to sell your condo? You’ve come to the right place.
As a real estate agent who specializes in Humber Bay Shores, I’ve worked with countless sellers in countless market scenarios. Safe to say that I’ve noticed a few patterns when it comes to mistakes and misconceptions.
In this blog, I’m here to help keep you on the right path. Keep reading for my list of common mistakes to avoid when selling your Humber Bay Shores condo.
Want to know about what you should do if you’re looking to sell your Humber Bay Shores condo? Click here to read my all-in-one guide to selling.
Not Knowing Your Market
The first mistake I see sellers make is not knowing their market.
You know first hand that life in Humber Bay is unlike anywhere else in Toronto. Well, the same thing goes for local real estate. In other words, you can’t approach the sale of your Humber Bay Shores condo the same way you would a house downtown.
One big example of this is inventory. In Humber Bay Shores, you’ve got thousands of condo units spread across more than 20 different buildings, all within a short distance from each other. As a seller, it’s your job to show buyers what makes your condo different from (and better than) the rest.
With all this in mind, your selling strategy should be specific to Humber Bay Shores – not the Toronto market as a whole.
Selling your condo in Humber Bay Shores? Read these blogs next!
- 3 Selling Mistakes That Can Negatively Impact Your Final Home Sale Price
- When is the Right Time to Sell Your Humber Bay Condo?
- How to Sell Your Condo Fast
Not Knowing Your Buyer
It doesn’t matter what type of home you’re selling – whether it be a multi-million dollar mansion or a compact condo, it is super important to know who your ideal buyer is. Don’t assume that potential buyers will have the same tastes as you when it comes to decor, furniture, etc.
Remember, a big part of selling your condo for top dollar involves tailoring it to the tastes of potential buyers and standing out from the competition. So, in order to do that, you’ll want to know who you’re appealing to.
As a community, Humber Bay Shores attracts a few different kinds of buyers. However, your condo will be best suited to one or two types. Knowing your buyer will be key to preparing and presenting your unit effectively.
Not Getting the Word Out
Tailoring your condo to buyer tastes is a great start, but you still need to make sure it gets discovered by as many potential buyers as possible. After all, you can’t sell your condo if no one can find it. Far too often, I meet sellers who underestimate the importance of marketing.
The reality is that if you want to sell your Humber Bay Shores condo for top dollar, you can’t simply take a few pictures on your phone, make an Instagram post, and expect the offers to start rolling in. You need a full-scale marketing plan that reaches buyers (and the agents they’re working with) in different ways and places.
As an agent who regularly sells condos in Humber Bay Shores, video is an important part of my marketing strategy. Click here to find out why!
Setting Your Price Too High
Another common mistake to avoid when selling your condo is setting your price too high. Everyone wants to sell their condo for top dollar, but elevating your asking price isn’t always the right way to do that. In most cases, it will actually hurt your returns.
Having the right pricing strategy matters even more in a micro market like Humber Bay Shores. Depending on the market, buyers can have a lot of inventory to choose from, so you’ll want to be competitive in where you set your asking price. However, you also don’t want to set it too low either.
There’s a lot that goes into choosing the right asking price. You’ll want help from an expert who understands the unique market and is very familiar with Humber Bay Shores condos. More on that next.
On the hunt for more condo-related real estate resources? Check out these other blogs next!
- 5 Signs It’s Time to Sell Your Etobicoke Condo
- Is Etobicoke a Future Condo Hotspot?
- What to Know When Moving From a Condo to a House in South Etobicoke
Not Working With a Humber Bay Shores Real Estate Agent
Last but not least, the biggest mistake to avoid when selling your Humber Bay Shores condo is not working with a local real estate agent who specializes in this unique micro-market. Almost every item I’ve mentioned in this blog so far comes back to this – whether it’s knowing the market, the buyers, how to prepare, price, and market your condo, or something else.
So where can you find an expert in Humber Bay Shores real estate? Right here!
With more than 20 years of experience selling real estate in South Etobicoke, including in Humber Bay Shores, I have the expertise and marketing strategies to help you accomplish a great sale!
Selling in Humber Bay? I can help! Call or text me at 647-239-7587 or send me an email at melissa@southetobicoke.com to get started.
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