I've checked Toronto sales; what 97 days means for pricing is still unclear

[AdaLee]

I’m choosing between two agents for a Toronto new-build flat, and their valuations are quite far apart. The higher proposal is tempting, but similar listings that launched ambitiously appear to have sat for roughly 97 days before cutting.

Would you push back and list nearer the likely sale price to capture first-week interest, or test the higher number? I’m looking for completed outcomes rather than the best pitch, including what became important once the initial pricing decision had been made.

 

[FirstBrick]

I’d ask both agents to support their number with recent completed sales, not current asking prices. Make sure the comparisons stay within genuinely comparable neighbourhood boundaries and account for condition. I’d lean toward the realistic launch unless the higher agent can explain why this flat differs from those 97-day listings. Also ask exactly when they would recommend a reduction; “we can always cut later” is not much of a plan.

 

[theo_cedar]

I wouldn’t assume those long listings prove the higher strategy failed. Some may reflect seller motivation, buyer-financing problems, poor condition, or an owner unwilling to accept a reasonable offer. Ask how much new stock is arriving and how many apparently unsold flats were actually withdrawn. Then have each agent provide a proposed launch price, evidence from completed sales, and a specific price-cut timetable. That makes the two pitches easier to compare.