Tuesday, August 4, 2009

Humiliated Enough?

This past holiday weekend, while many were out BBQ'ing and playing by the water, I was out with a single Mom, looking for a condo in the Michael Power, Islington and Bloor (Kipling) location. We found a suitable unit, prepared an offer for full asking price and proceeded to line up at the offer presentation table.

Our offer was unsuccessful as one was all cash and ours was conditional only on financing for three business days. (The minimum requirement for a CMHC hi ratio approval.) The Buyer was disappointed and we will see in a few days what the unit actually sold for. To bid differently would not have been prudent with this Buyer.

This morning, Tuesday, after the long weekend, I prepared my 11 x 17 inch Tablet Sign, and attended at the condominium complex, to stand at the gauntlet of morning commuters and beg for a opportunity to buy their condo. They stepped around me like David Miller and the garbage strike.

Within the two hour period that I had allotted (starting at 6:45 AM) I had actually spoken to approximately 100 people who exited from the buildings and asked a) If they would like to sell their unit b) if they made eye contact, would they like to check out my websites. Handed out about 40 business cards.

Is this the right way to find business? 100 People said NO to me before 9 AM, and made me feel like a politician on the huskings for your vote. But in reality even after 20 years in the real estate business, and a strong website presence I need to meet and greet fresh new faces. This client wants these specific buildings. I need to meet the residents of Michael Power. Telephone canvassing is no longer a viable choice as people have signed up for do not call lists, but in reality with different home telephone service providers we no longer have a comprehensive telephone listing directory that is cross referenced to address.

Door Knocking inside Condos is strictly forbidden and the security once alerted would quickly SHOO me from the premises. So How best to contact these owners who may wish to sell?

The Michael Power complex fronts onto the Bloor Street, immediately adjacent to the Islington Subway station. Park Royal Place now has the final building under construction. There are 5 municipal address groupings, 5 Michael Power, 7 and 9 Michael Power and 11, 15, 17 Micheal Power Place. Last sold details are available at the website for the previous six month period.

Given the size of the complex. some 6 buildings, there have been only 51 sales in the last 6 month period. Given the malaise that was encountered in the Jan - March timeframe, the lack of inventory is disturbing to many Buyers and causing some price silliness.

If you live here and would like to move, Today I actually DO have a client that is interested.

What would you suggest as the best method to contact condo dwellers? Tomorrow morning weather permitting, I will yet again be in the same place but this time blocking vehicle traffic rather than pedestrians.

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