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Right now, as many of my clients know, the Toronto real estate market has more demand than supply. There simply is not enough residential properties to go around, especially for those with very specific living desires.
In my office, I have a list above my desk with 12 amazing clients. Each hunting for something a little different; however, the goal is the same: finding a property that meets the wants and needs without having to compromise too much. Whether the compromise is cost, location or size, it’s my job to ensure my clients don’t need to settle for less than expected or more than expected for money sake.
In early November, my clients Julie and Pete landed their ideal property, a Queen West townhome! I’m so thrilled for this happy couple because finding their home was months in the making. After a few offers, a bunch of showings and finally a firm deal, I thought I should share a few tactics I used along the way to finding this couple their new home.
Here are four tactics that can help your clients land their dream home:
When supply is down sometimes you need to go door-to-door let people know about your clients wants and needs. That’s when you create the buyer alert you see below:
The two images you see above are double-sided prints and were handed out to over 300 townhomes in the city. Sometimes property owners don’t know that they want to sell until they see the demand right at their doorstep.
The alert includes details of exactly want Julie and Pete were looking for:
- Wants: 2 bedroom townhouse unit
- Needs: with or without parking
- Location: Leslieville or Queen West
And most importantly, a photo of their loving faces.
Facebook advertising lets you target an exact location and pump out ads to only people within the radius you specify. Which is a golden tool when your clients looking to buy in a specific location! So I turned the Buyer Alerts into a Facebook slideshow ad.
The ad for Leslieville reach over 8,000 people and had over 2,000 video views.
Finally when the property does present itself the hard work begins. We were on site the day the listing came on the market. When meeting my clients I’m equipped with the actual price it will sell for, not the list price.
I make sure my clients have been pre-approved for financing and that there will be no condition for it’s approval. I request the agent send me a copy of the home inspection and have my dad review it. YES, I said my dad! My father has been developing land, building homes and then selling them for decades – he’s the source and he’s DAMN good.
Once my clients are on board with the correct sale price and we’ve approved the condition of the property, I send them to the bank to get a bank draft for the deposit. The deposit + the correct sale price offer with NO CONDITIONS makes for a pleasant interaction with the other agent.
Patience and Persistence
This might not work every single time – some homeowners won’t accept a bully offer and many people are willing to overpay too much for something they have let their emotions dictate.
I like to keep my clients in check – I don’t condone over paying for homes. We aren’t talking a few thousand here! In 3 to 5 years when my clients are ready to sell, I don’t want them to be angry because we can’t get back the amount we should be.
Informed & Patient + Aggressive = Success.
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