Dear Urban Diplomat: How do I price my place strategically?

I’m about to list my Parkdale semi. What makes more sense in today’s market: overpricing or underpricing it?

—Price Advice, Parkdale

Because the market—and Parkdale in particular—has so little inventory, consider listing low; it will motivate more people to swing by, put down an offer and help start a bidding war, which is when otherwise rational people can lose their minds. These days, buyers are willing to put up with older semis that need renos, so the offers should roll in. But if a massive bidding war stresses you out and doesn’t seem like it’s worth the trouble, you can list for slightly more than what you’re looking for and still get a swift sale—because, well, Toronto.

Send your questions to the Urban Diplomat at urbandiplomat@torontolife.com

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