A CASE STUDY

The Situation

We were hired by a couple looking to sell their starter condo in a mid-rise building located in downtown Toronto. This was their first time selling a condo unit and they needed our help to get the best possible price for their home.

Challenges

Timing

There were multiple listings in the same building (including two with identical layouts) on the market at the same time.

Location

Directly across the street from our building was a large rental high-rise apartment complex with numerous social issues.

Slowing Market

Over the previous year there were price decreases along with an increase in the average days on market for similar units in the building.

The Property

Two bedroom, two bathroom
854 Square Feet
Balcony
One parking

Positioning

With fierce competition just down the hall, we had to make a strong impression with potential buyers and make sure our client’s unit stood out from the crowd. We were hard at work even before buyers stepped through the front door, and once they were inside? The scene was set for a perfect first impression.

We focused on our target buyer demographic, with every aspect of our marketing campaign geared towards appealing to them. For this particular unit, that meant first time buyers in their early 30’s who were looking for two bedrooms and who wanted to live downtown. In order to reach this market we focused our campaign on the benefits of living in this stylish, well-maintained, ready-to-go unit and the convenient amenities the neighbourhood had to offer.

Execution

In order to make this unit outshine the competition our marketing plan had to be executed flawlessly.

Staging

We brought in a professional home stager to advise on furniture placement and de-cluttering efforts. The stager knew who our target buyer was and tailored his efforts with them in mind.

Cleaning

A dingy home can reduce the quality and number of offers, so we made sure the unit was professionally cleaned from top to bottom.

All-Star Photos

Our phenomenally talented photographer was tasked with showcasing the bright, attractive space and highlighting the many assets of both the unit and the building.

High Quality Feature Sheets

Sage Real Estate has in-house graphic designers developing some of the best print material in real estate today. With the target buyer in mind, they created fantastic print materials with all the information a buyer would need to make an offer.

Listing Trailer

Think a teaser movie trailer for your condos. The response from this was tremendous and we were able to make the unit a standout while expanding the ad campaign’s reach.

Floor plans

Buyers love floor plans, not everyone provides them. Sometimes simple things go the farthest.

Property specific website

These days a strong online presence can make the difference between multiple offers and snoozeville. We built a site specific to this listing (including a custom URL featuring the property address) to give the campaign legs.

Online advertising

To promote the listing we implemented a highly focused online ad campaign. Utilizing Google AdWords and Facebook we were able to focus our ads on our specific buyer demographic and greatly increase the property’s online exposure.

Results

Success!

We achieved the second highest sale price for this layout in 2014. A penthouse unit, 4 floors above with a superior Southwest city view was the only unit that sold for a higher price that year.

List to Sale Price Ratio: 99%
Total Identical layout units sold in building: 7
Average Days on Market: 47
Our Days on Market: 35

Were Our Clients Happy?

We selected Hilary and Nick as our condo sales representatives because they were intimately familiar with the neighbourhood and presented a solid marketing plan.

Prior to listing our property, they invited a seasoned interior designer to give our place a walk-through to ensure that potential buyers’ all-too-vital first impressions were overwhelmingly positive. A cleaning service was called in to erase all the yucky traces of human life – dirt, dust, and grime. The place was left spotless and ready for the interior photographer.

Him and Hilary knew all the right strategies for creating a MUST-SEE listing. Then there were the more subtle touches, such as slick pamphlets, an awesome website, and their near-constant availability, whether by text, email, or phone (or all three).

Our condo was sold in less than three weeks, which was absolutely astonishing when seen in the context of our building’s history, and even more amazing considering that our unit was competing against no less than three identical layouts! – Paul and Lilly

 

Thinking of selling?

We are happy to provide you with a valuation and marketing proposal. No obligation, no spam and no cheesy sales pitch. Promise.

info@nickandhilary.com

Call or text us: 416-735-4665