Real Estate: Upsizing
September 1, 2009
The seller: Karen Fraser, 38, a flight attendant; Kevin Fraser, 40, who works as a sales executive for a building-materials company; and their kids Elliah, Austin, and Arianna (plus Cody the dog and Leo the cat). The couple bought this 1953 bungalow at 7616 Arbutus St. in 2002 for $521,000. They renovated the basement, adding two bedrooms (for a total of five), but felt short on space.
The realtors: Marty Pospischil, Dexter Associates Realty
The strategy: Pospischil called everyone who had looked into three similar West Side homes he’d recently sold, about 480 people total. His office hand-delivered a feature sheet to every West Side realtor, and dropped "Just Listed" postcards to mailboxes in Kerrisdale and Southlands. Asking price: $1.198 million.
The sell: The first four days were devoted to marketing. On the fifth, they hosted an open house and got one offer. On the sixth day, Pospischil called all open-house visitors and generated three offers. That night, the property sold for $1.26 million. Popsichil’s advice to sellers? Heed the hot pockets. “If you’re able to sell in one of the hot pockets, like this one, and then buy in a neighbourhood that’s not so hot, your upgrade cost is zero and you could even net some equity. The Frasers did this perfectly.”