The Scenario
This was Sohail’s own property and first renovation project. A thoughtful renovation that was the result of collaboration between an architect and a realtor. Though it hadn’t been designed with resale in mind, as a realtor, the question of resale was always in the back of Sohail’s mind. The resulting design was extremely functional, but also encompassed what is attractive to buyers.
Despite having sold many homes on behalf of his clients throughout the years, this sale was an eye opening experience. For the first time, Sohail was in the client seat and he was experiencing first hand just how stressful, emotional, and disruptive a home sale could be.
The Challenges
Emotionally invested: Sohail had spent considerable time and energy reimagining the space. He and his wife had their first child in this home. Knowing that he wouldn’t be able to remain objective, Sohail decided to have a colleague represent him. This separation meant that he wouldn’t have to handle questions or criticism directly, and allowed potential buyers to be more open with their feedback.
Selling with kids: Selling a home is disruptive at the best of times. Throwing small children into the mix complicates matters that much more. We didn’t want potential buyers turned away because of an inconvenient nap time or turned off by a messy home (toddlers, amirite?). Even though the home had just been renovated and decorated, we hired painters and handymen to make the place really shine, had it staged, and Sohail and family moved out for the duration of the sale.
By The Numbers
Asking Price: $1,699,900
Selling Price: $2,240,000
Days on Market: 7 days
How We Did It
Notable Notes
Our pricing and offer strategy was critical to this successful sale. The list price was set lower than our expectations and we strategically declined to view bully offers early on in the process.
Though we received an early offer of $2M–a price we were thrilled with–we chose to wait until offer night given the feedback and level of activity.
Ultimately, the home sold for $240k higher than the first offer. The highest price on record for a 2-storey semi in E01*
*as per TREB as of March 3, 2022
