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The Secret To Pricing Your Condo To Sell In London Ontario

Here is the secret to pricing your condo to sell in London, Ontario: It’s not what you think it is worth; it’s what a reasonable buyer will think your condo is worth and willing to pay.

You may be thinking – Hey, wait, if I left it up to a buyer, they would pay me as little as possible for my condo in London, Ontario. True, they would. But in the real world, every buyer knows that you, the seller, have no obligation to sell your condo at any price. To purchase your condo, the buyer must make you an offer you can’t or won’t refuse. One that will motivate you to pack, hire a local mover, wave goodbye and say sayonara.

Successful condo sellers understand that a Realtor’s responsibility is to provide marketing, expert advice, and negotiating services. Your Realtor does not own your property or make the final pricing decisions; you do, and ultimately your asking price will determine how quickly it sells and at what price.

Focus on the Major Key Issues & Be Realistic

The most common mistakes sellers (and some Realtors) make when choosing a price:

  • Putting the property on the market at an unrealistic price, and the property must be priced on a comparative basis to other similar properties. (I should add that everyone thinks their home is different, but buyers and their agent doesn’t think so.)
  • They are not cognizant of a seller’s market or a buyers’ market.
  • Thinking that buyers aren’t comparing your place, on a dollar-for-dollar basis, with every other apartment or townhouse condo on the market

Many sellers will argue that their condo has an insurance replacement value, an appraised value, or a tax assessed value, but unless your insurance agent, your banker, or tax assessor is willing to write you a cheque for the condo – guess what? None of that matters. A condo without a buyer has no value in the marketplace. Sure, it might have value to you, the seller, and again, it might have value to your banker, your insurance agent, your Uncle Bob, your hairdresser, your friends at work, your drinking buddies or your bridge club or your appraiser. But none of these are buyers!

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Ty Lacroix

"Not All Realtors Are The Same"! This website and content are for you and are designed and constantly upgraded with the latest real estate trends, how-to’s and what is for sale on MLS. All the so-called Gurus of marketing and branding say a Realtor and their Brokerage should have a bio to let people know about them. I have always felt bios were boasting, bragging, or trying to impress readers; I’ve always felt that our actions and results should impress and not be all talk and no action! As they say in Texas:” All hat and no cattle”! So here goes: We are a small brokerage by choice. Our primary focus is guiding home buyers and sellers to make good decisions. We believe selling real estate is a process, not an event or knee-jerk reaction; we sleep well at night and ensure our clients do as well! We are not for everybody, nor can we please everybody, nor do we tell people what they want to hear; I know that may be old-fashioned and boring but we are dealing with hundreds of your hard-earned money. Would you rather be happy, excited and bored or unhappy, excited and make a poor choice? About Ty Founder & Owner, & Broker of Record of Sutton Group Envelope Real Estate Inc., That's all I can say about me! You see, this is about you, not me; you do not want to hear blah blah stuff about awards, designations, or that we walk older adults across the street (I used to help old ladies cross the street, but as I got older I did not want my wife to think I was flirting) the reincarnation of Mother Teresa, walk on water or anything else to impress you. We let the numbers speak for themselves; success leaves clues!

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