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March 14th, 2025Olea in the News
Globe and Mail Article: Negotiations raise low initial offer for Regent Park townhouse
Last year, agent Munira Ravji was travelling abroad when a buyer’s agent floated a lowball offer for this stacked townhouse less than 100 metres from Regent Park and the Pam McConnell Aquatic Centre. Rather than brush it off, Ms. Ravji took the offer as an opening gambit. Over three days – and multiple time zones – negotiations lifted the offer to a more acceptable number. A deal was struck at $59,999 under the last asking price.
Royal LePage Signature Realty
Link to original Globe & Mail Article Below
68 Cole St., Toronto
Asking price: $1,179,999 (September, 2024)
Previous asking price: $1,199,999 (July, 2024)
Selling price: $1.12-million (November, 2024)
Previous selling price: $471,150 (August, 2011)
Taxes: $4,713 (2024)
Property days on market: 109
Listing agent: Munira Ravji, Royal LePage Signature Realty
This two-storey unit has a street level entrance and windows on three sides. Royal LePage Signature Realty
The Action
The unit boasts a terrace off the kitchen. Royal LePage Signature Realty
Last year, agent Munira Ravji was travelling abroad when a buyer’s agent floated a lowball offer for this stacked townhouse less than 100 metres from Regent Park and the Pam McConnell Aquatic Centre. Rather than brush it off, Ms. Ravji took the offer as an opening gambit. Over three days – and multiple time zones – negotiations lifted the offer to a more acceptable number. A deal was struck at $59,999 under the last asking price.
“The agent was going to really lowball it, about $100,000 less than we listed it. And maybe because I didn’t hear her, I said, ‘That sounds great,’” said Ms. Ravji. “When they put in their offer [on paper], I was a bit shocked.
“Some agents would just shut it down, but personally, it’s worth signing back to see if we can find some common ground.”
Through those conversations, Ms. Ravji cited the value of this three-bedroom unit’s condition and locale compared to alternatives nearby.
“There was [another unit for sale], a tenanted one, which didn’t present well,” said Ms. Ravji.
“The neighbourhood has so many community centres and schools, so this is set up for a family. But funnily enough, most people that came through were singles, not couples, which was interesting.”
What they got
One of three bedrooms. Royal LePage Signature Realty
In the upper corner of a block of townhouses built in 2011, this two-storey unit has a street-level entrance, windows on three sides, and a terrace off the kitchen.
It has 1,349 square feet of living space, including open living and dining areas, and bedrooms directly above.
There are three bathrooms, laundry facilities and interior access to a rear garage.
Monthly condominium fees are $458.
The Agents take
“It was a corner unit, so it was so bright and there were windows throughout, even in the upstairs closet,” said Ms. Ravji.
“Having an attached garage downtown is also very special for this price point.”
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