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CANDY FACTORY OWNER LEAVES $50K ON THE TABLE - HIRE A PRO INSTEAD OF A SCHMO!

03 May 2010
CANDY FACTORY OWNER LEAVES $50K ON THE TABLE - HIRE A PRO INSTEAD OF A SCHMO!

True story a unit at the Candy Factory lofts was recently listed well below market value, occasionally agents do this to attract multiple offers. The asking price was very attractive compared to recent sales of similar units. One of the closest comparables was my last sale of unit #320 which sold for $534K - it was 80 sq.ft. smaller, on a lower floor with a less attractive view. Never-the-less, the offer day came and only one offer arrived. Instead of re-listing or increasing the price appropriatly they still sold the property for asking. Did the listing agent pull the wool over his clients eyes or did he too not know the values. Either way tragic mistakes like this could be avoided by hiring an agent who knows your building intimately. Sadly 60% of sellers hire the first agent they meet. Had this seller interviewed the MrLOFT.ca Team he would have been educated on the building and toronto loft sales trends properly and had an additional $50K to spend!

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