Andrew's Monthly Musings - December 2023

If you’ve been concerned about buying or selling during COVID, here’s a success story.

We listed in March during the panic phase of the lockdown when the entire world was frozen. 397 Crawford was sold for a record price on the beloved Crawford St

Preparing the House

1. We de-cluttered, cleaned, and had the entire house painted.

2. We had the house staged professionally.

3. We engaged Carson-Dunlop, the best in the business, to perform a fastidious pre-sale inspection. This often provides buyers with the confidence to make unconditional offers.

Innovation over Defeatism

Many agents and entire brokerages simply shut their doors to their clients for fear of COVID. We felt we could not abandon our clients, and looked for ways to innovate to keep the economy moving. Open houses were made illegal, but real estate was recognized as an essential service, so we pushed ahead safely to help our clients, rather than telling them “no.”

1. Andrew Unsworth provided consulting gratis to the OREA software development team, instructing them on the technicals of how to host live virtual open houses on www.Realtor.ca. This allows consumers to experience an open house virtually, from the safety and comfort of home, whilst the Realtor performs a video-walk through of the home, and answers questions in real-time, just like a normal open house. This small innovation is likely to remain for the long-term because it’s so much more efficient!

2. We conducted numerous live virtual open houses which proved effective, even as Andrew fumbled through the live video production.

3. We conducted all signings with e-signatures, so that they could be done remotely, and safely.

4. We held Zoom video calls where needed rather than meeting in-person.

Safety First

1. We developed and sustained strict COVID protocols, ensuring that buyers during all showings were equipped with PPE, were screened for symptoms, and were serious about buying.

2. We worked with our amazing tenant to provide video tours of her basement apartment, so that she was not asked to vacate for showings.

Sotheby’s Superior Marketing

1. We deployed Sotheby’s International Realty Canada’s superior marketing tools to attract a wide network of international buyers.

2. We developed a tailored digital marketing campaign with beautiful marketing assets, and targeted our efforts to likely buyers across social media channels.

3. We hustled. We worked tirelessly to follow-up with interested buyers and other agents, providing them with all the information required to make informed decisions.

Patience for a Record Price

We remained patient. We knew that the right buyer, who loved the house, would pay our asking price. After more than 60 safe showings, hundreds of phone calls, thousands of emails and texts, we SOLD for 98.4% of asking!

Things are taking a little longer during COVID, but getting easier every week. You can still sell your house effectively and safely, and prices have not fallen yet in 416. With inventory down 60%, there is less competition, so it may be a great time to sell before unemployment catches up with us. Also, for some buyers, now may also be a good time, as interest rates are at historic lows, 1.99 for a five year fixed, and there will be bargains here and there with motivated sellers.

There is always opportunity in volatility and uncertainty, so please get in touch to discuss how we could help navigate the choppy waters.