PSR Brokerage
375 King St. W., No. 2901, Toronto
Asking price: $499,000 (August, 2024)
Selling price: $590,000 (August, 2024)
Taxes: $2,052 (2023)
Days on the market: seven
Listing agent: Saul Sanchez, PSR Brokerage
The sellers remodelled the kitchen and installed oak flooring.PSR Brokerage
The action
Agent Saul Sanchez credits a TikTok video for the sale of this one-bedroom suite. While comparable units for sale languished for months in the 10-year-old high-rise on King Street West, someone saw the clip – which had more than 100,000 views – and outbid two other buyers by offering $91,000 more than the list price.
“[The buyer] told me the only way she even found out about the condo was from my initial video tour on TikTok,” Mr. Sanchez said.
“Many people, even realtors, think that TikTok videos are just for entertainment purposes but don’t actually produce any results. They feel like the would-be buyers would find the listing on the MLS anyway if they were interested.
“In reality, some people are not searching the MLS daily and urgently looking to buy.”
Mr. Sanchez also investigated an issue flagged in the building status certificate, which had soured potential buyers in other unit sales.
Several years ago, there was a plumbing problem with water leaking on several floors. But the piping in the entire building has already been replaced. The status certificate noted that the building has a pending lawsuit against the original installers to recover expenses.
“One reason they’re so confident they’ll win the lawsuit is other buildings in the immediate area that had the exact same problem with the same company have already won their lawsuits,” Mr. Sanchez said.
“There’s not going to be another special assessment because the cost was already paid, so it put the buyer at ease,” Mr. Sanchez said.
'There’s no wasted space, no long hallways or weird nooks', listing agent Saul Sanchez said.PSR Brokerage
What they got
This 458-square-foot unit features nine-foot ceilings, full-height windows and a balcony.
The owners remodelled the kitchen and bathroom and installed oak flooring and a fireplace in the principal room.
Monthly fees of $379 cover water, heating, concierge and use of the gym.
This 458-square-foot unit has nine-foot ceilings and full-height windows.PSR Brokerage
The agent’s take
“There are not many renovated units in the building, so it did stand out,” Mr. Sanchez said.
“There’s no wasted space, no long hallways or weird nooks, and it still has room for a kitchen island.”