Oakville Newspapers

Oakville Beaver, 7 Jul 1993, p. 48

The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

Newspapers are filled with offers of goods and services for sale. Since newsprint was first published, it has depended upon advertising for its very existence. The very foundation of our present way of life revolves around the trading of properties and labor in exchange for money or other forms of wealth. But today, with the inundation of television, the proliferation of other forms of the media, we are in danger of drowning in a sea of advertising. Even Samuel Johnson in 1758 wrote, "Advertisements are now so numerous that they are very negligently perused, and it is, therefore, become necessary to gain attention by magnificence of promises, and by eloquence sometimes sublime, and sometimes pathetic." But if we are to do business, we must advertise. For as Stuart Don‘t be in a hurry to sell condo unit Henderson Britt was quoted as saying in the New York Herald Tribune on October 30th, 1956, "Doing business without advertising is like winking at a girl in the dark. You know what you are doing, but nobody else does". There comes a time when, for whatâ€" ever reason, those of us who dwell in condominiums, may contemplate setâ€" ting our units. Today, because of diffiâ€" cult times, we are becoming aware of a multiplicity of "For Sale" and "Open House" signs dotting the landscape. There are two parties involved in the successful marketing of your propâ€" erty â€" the sales agent and yourself. The sales agent brings to the affair his/her knowledge of the market and the resources of the agent‘s organization. If the choice of an agent were left to me, it would be my choice to consider selecting one who has a broad experiâ€" ence in marketing condominiums. One preferably who has owned and lived in a unit, has that background in our style of living, and would likely be in a betâ€" ter position to promote the unit than one whose knowledge was gained from the outside. When it comes to a mutual agreeâ€" ment about the selling price that you are willing to accept remember this, from a practical point of view, the agent‘s first concern is â€" let‘s not kid around â€" the commission on the sale of your unit. That is the agent‘s underlyâ€" ing purpose while your responsibility is to obtain the best offer for your unit. Setting a price that meets with your needs, while at the same time is within a range that will attract buyers to your door, requires a fine balancing act. Do not totally rely upon the agent to set the price you are willing to accept, but be prepared to do some market research by comparing prices for comâ€" parable properties as reported in the Real Estate Sales sections of your local newspaper. Take your time; actually view some units that are being offered to give you some idea of what you will be facing. But be realistic by setting a price which will adequately cover your costs of relocation and recover your assets. * $ Don‘t be in a hurry to sell. If the market is slow and you don‘t have to unload, be prepared to wait even to the end of the period of your agreement and even withdraw your unit from the market. As time goes by, you will get pressure to reduce your price, but if (See ‘First ‘ page 19 )

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