5650 Winston Churchill Blvd, Unit 89

In the spring of 2023, someone reached out to me about upsizing from their 1-bedroom condo townhouse to a detached home. They were concerned that if they sold the townhouse first, they wouldn’t find a house they liked in time, so they decided to buy first. Now, this was a time where the market had significantly slowed down, especially for condos, so it was going to be a challenge to sell their home regardless.

After a few weeks of actively looking, they found their dream home and submitted an offer. We were able to negotiate a longer closing to allow us enough time to list and sell their townhouse. The problem, within a few days of us listing, two identical units in the complex listed and severely undercut us on price. The last thing we needed was a price war. So, we adjusted our price to be more in line with the others, without creating too much downward pressure on prices. We were the only one of the listings that was staged and well presented, so we had a leg up over the others. Within a week, one of the others had sold conditionally, but the price was not posted yet. We stuck to our strategy, and I continued to follow-up after every showing for feedback and to highlight why our listing is superior to the comparable listings. Next thing we know, we received an offer (of course this happened the day I left for an off-grid cabin trip).

After some back and forth negotiation we had successfully sold the townhouse, and my client was thrilled.  A few days later, the price for the other unit was posted, and we had sold for $10,000 more. While it’s not a huge price difference, it was enough to give my client peace of mind that they didn’t settle out of desperation, but rather came out of the negotiation successfully.