Setting the Stage to Sell Your Condo

In my last post, I talked about how the condo market in Toronto is very much a buyer’s market versus much of the rest of the real estate market in the GTA and beyond. The pandemic has resulted in a bit of a downtown ‘exodus’ as many people seek larger, open spaces - especially those that are able to work from home.

And with a pause in immigration and international students seeking downtown rentals, many investors are looking to get rid of their condos, adding to the glut on the market.

If you are looking to sell your condo right now, you will need to work a bit harder to attract the right buyers at the right price. The good news is there are tried and true methods for doing this - and the most important involves presentation.

People are visual. While you may love your taste, it might not be for everyone. Like going on a first date, you want to take extra care to make sure everything is perfect. And like buying a new outfit, it may not be something you normally wear but you want to make a good first impression.

During this time of Covid, virtual showings and 3D staging are the norm so the visual presentation of your property is of utmost importance.

More than just a fresh coat of paint, staging is about preparing your condo for sale NOT simply redecorating. Staging is designed to present your home in its best possible light - from the placement of furniture to replacing those old cupboard handles to fixing that leaky faucet.

And remember what I said about first impressions, according to a BMO report on the Psychology of House Hunting, 80% of buyers know if a place is right for them as soon as they walk in the door.

And if your condo is on the smaller side, you’ll want to ensure it feels as spacious as possible. This is where a staging expert can be most effective.

Finally, plan to have some of your belongings in storage for a period of time or move them into another room to take pictures. In a buyer’s market, condos - especially smaller ones - are sitting on the market for weeks and sometimes months.

The good news is, studies show that properties that are staged sell faster than their unstaged counterparts. And not only faster, but typically for more. And with 3D staging, it can be done at a fraction of the cost of regular staging.

For help on getting your condo ready for sale, get in touch with me today. I have the tools, resources and experience to get your condo in buyer-ready shape.