Whether you own a condo in Downtown Toronto, North York, Scarborough, or Etobicoke, proper preparation and an experienced real estate agent can help you attract qualified buyers, achieve a competitive selling price, and save thousands of dollars in commission.
At Predy Homes – Century 21 Heritage Group, I help condo owners sell their properties with professional service and a competitive 1% listing commission.
1. Determine Your Condo's Market Value
Setting the right asking price is one of the most important steps when selling your condo. Unlike houses, condo values are often influenced by recent sales within the same building and nearby developments.
Important factors include:
- Recent sales of similar units in your building
- Square footage, layout, and floor level
- Views, natural light, and balcony space
- Parking and locker availability
- Monthly maintenance fees
- Building amenities and overall condition
- Current market competition
2. Prepare Your Condo for Sale
If you are debating keeping the unit as an investment instead of selling, consult our guide on how to rent your condo in Toronto.
First impressions are especially important when selling a condo because buyers often compare several similar units. Simple improvements can make your property more attractive:
- Declutter and maximize available space
- Deep clean the kitchen and bathrooms
- Repair minor issues and refresh paint
- Arrange furniture to make rooms feel larger
- Improve lighting and highlight natural light
- Clean balconies, windows, and storage areas
- Consider professional staging if appropriate
3. Understand the Condo Status Certificate
Understanding closing disbursements and status certificate fees is essential—estimate your total net closing funds with our Real Estate Calculators.
One important difference between selling a house and a condo in Ontario is the status certificate. A status certificate provides buyers and their lawyers with important information about the condominium corporation.
It typically includes information about:
- Monthly maintenance fees and payment status
- The condominium corporation's financial position
- Reserve fund information
- Insurance coverage
- Condominium rules and bylaws
- Legal proceedings involving the corporation
- Other important financial or legal matters
In Ontario, condominium corporations generally must provide a requested status certificate within 10 days, and the prescribed fee is currently $100, including applicable taxes.
4. Market Your Condo Effectively
Toronto's condo market is competitive, making professional marketing essential. An effective marketing strategy may include:
- Professional photography
- An attractive MLS® listing
- Exposure on Realtor.ca
- Social media promotion
- Private showings and open houses
- Highlighting building amenities and neighbourhood benefits
The goal is to make your condo stand out from competing listings and attract serious buyers.
5. Save Thousands With My 1% Listing Commission
Condo owners save over $13,500 on average. Check your exact savings on our 1% Commission Savings Calculator.
Selling your condo doesn't have to mean paying a high listing commission. At Predy Homes, I offer a competitive 1% listing commission while providing professional representation, marketing, negotiations, and support throughout the sale.
| Condo Selling Price | Traditional 2.5% Listing Fee | My 1% Listing Fee | Your Savings |
|---|---|---|---|
| $500,000 | $12,500 | $5,000 | $7,500 |
| $700,000 | $17,500 | $7,000 | $10,500 |
| $900,000 | $22,500 | $9,000 | $13,500 |
| Retained on a $900K condo: | Up to $13,500 saved! | ||
Keep more of your hard-earned equity! Why pay a higher listing commission when you could put those savings toward your next home or investment?
Illustrative comparison before HST. Any cooperating buyer brokerage commission is additional. Savings assume the same buyer brokerage commission in both scenarios. Commission rates are negotiable.
6. Review Offers and Complete the Sale
When you receive an offer, your agent will help you evaluate the purchase price, deposit, closing date, and conditions.
Condo offers may include a condition allowing the buyer's lawyer to review the status certificate. Once all conditions are fulfilled and the sale becomes firm, your real estate lawyer will handle the closing documents and transfer of ownership.
Ready to Sell Your Toronto Condo?
Whether you're ready to sell now or simply exploring your options, I can help you understand your condo's market value and develop the right selling strategy.
Get a FREE, no-obligation condo evaluation and discover how much you could save with my 1% listing commission.