Marc Paillé
Blog
Thursday July 31, 2008
Transition in Toronto?
Common knowledge seems to be the Toronto Real Estate Market is undergoing a transition. Few people know what we're transitioning to. i wish I knew.The facts make a statement.There has been a 20%+ drop in the number of sale transactions in the city of Toronto real estate market yet the average price still increased by several percentage points. This may be attributed to the sale of better product which still commands a respectable price whereas the mediocre homes are sitting on the market for longer periods.
Sellers must also realize the increased importance of dealing with an experienced agent during these periods. 2 of the most critical skills in the balanced Toronto real estate market are pricing and marketing.
Experience, intuition, having seen the interior of comparable houses and knowing what broader market factors existed at the time of the sale are all important elements when pricing a house. Once the asking price is set, the marketing of the space then becomes a higher priority in order to expose the house or condo to the greatest number of potential buyers and their representatives throughout the city and beyond.Broadcasting the word (and photos) often distinguish a successful realtor from the huge influx of part-time and new agents who have joined the Toronto Real Estate Board to make an "easy buck".
Experience, intuition, having seen the interior of comparable houses and knowing what broader market factors existed at the time of the sale are all important elements when pricing a house. Once the asking price is set, the marketing of the space then becomes a higher priority in order to expose the house or condo to the greatest number of potential buyers and their representatives throughout the city and beyond.Broadcasting the word (and photos) often distinguish a successful realtor from the huge influx of part-time and new agents who have joined the Toronto Real Estate Board to make an "easy buck".