How Michael John Lau turned a listing with lots of interest but no number into a sale $150,000 over asking.
59 Smoothwater Terrace, a detached 4-bedroom, 5-bathroom home with a finished basement and double garage on a ravine lot in Markham, launched in June to tons of showings and plenty of interest. The number was not there yet. Michael John Lau studied the data, shifted the strategy, rebuilt momentum and landed multiple offers. The home sold for $1,650,000 against a $1,499,990 list, $150,000 above asking, with the clients kept in the loop at every step.
The deal, in six lines.
- Client
- Homeowners selling a unique ravine-lot home who trusted the process from the first consultation to the final offer
- Situation
- Strong showing traffic and interest after the June launch, but offers not yet reaching the number the data supported
- Location
- 59 Smoothwater Terrace, Markham
- Property
- Detached, 4 bedrooms, 5 bathrooms, finished basement, double-car garage, ravine lot
- Timeline
- Listed in June; staged, market analyzed, competition previewed; strategy adjusted after the first wave of showings; multiple offers
- Result
- Sold for $1,650,000 against a $1,499,990 list price, $150,000 over asking, with the best price and terms available in the market
What was done before the sign went up?
The work started well before June. Michael's team handled the consultation, staged the property, analyzed the market area and previewed the competition in person. By launch, they knew what the home was worth and why: a detached 4-bedroom with a finished basement and a double garage on a ravine lot is not a commodity, and it should not be priced like one.
What happened after launch?
Tons of showings. Lots of interest. Open houses were busy and buyers were clearly drawn to the home. But interest and offers are different things, and the offers that came in were not where the data said this property should sell. The easy path would have been to accept one and move on. That was not the plan.
How did the strategy shift?
Michael did what professionals do when the first read does not produce the result: he went back to the data. What were the buyers who toured actually saying? What had the competing listings done since June? Where was the market for a home like this one, right now? The strategy was adjusted around those answers and momentum was re-ignited, with the clients briefed on every move and every reason behind it.
Why did the sellers stay the course?
Trust, built early. From day one the team handled the details and kept the clients looped in at every step: what was happening, what it meant, and what came next. When Michael recommended holding for the right number rather than accepting the first round, the sellers had already seen the analysis behind it. Trust plus transparency plus timing is what produced the best price and terms available in this market.
How did it end?
Multiple offers. The home sold for $1,650,000 against a $1,499,990 list price, $150,000 above asking, with terms that worked for the sellers. A unique property found the buyers who understood what made it unique, because the strategy changed instead of the price.
What should someone else in this situation know?
When the interest is there but the number is not, the answer is rarely a price cut. It is a better read of the data and a second wave of momentum.
Know what your home is worth before you list, so you can tell the difference between a market that has spoken and a strategy that needs adjusting. Then choose an agent who will show you the analysis, keep you informed at every step, and have the discipline to hold for the right number when the evidence supports it.
Questions people actually ask.
Why did 59 Smoothwater Terrace not sell right away despite many showings?
Interest is not the same as offers. The June launch produced strong showing traffic and plenty of interest, but the offers were not yet reaching the number the data said the home was worth. Rather than accept less, Michael studied the showing feedback and the competing listings, adjusted the strategy and re-ignited momentum.
What did Michael John Lau change mid-listing?
He went back to the data: what buyers who had toured were saying, what the competition had done since June, and where the market actually was for a ravine-lot detached with a finished basement. The strategy shifted around that read, momentum was rebuilt, and the relaunch produced multiple offers.
How did the home sell $150,000 over asking?
Preparation and patience. The home was staged, the market analyzed and the competition previewed before launch, so Michael knew what it was worth. When the first round of interest did not produce that number, the strategy changed and competing offers pushed the final price to $1,650,000 against a $1,499,990 list.
What made 59 Smoothwater Terrace a unique property?
A detached 4-bedroom home with 5 bathrooms, a finished basement and a double-car garage on a ravine lot. Ravine position is a permanent premium, and unique homes need pricing and marketing that reflect the fact that there is no direct comparable on the street.
A conversation is just a conversation.
If your home has interest but no offer that matches its value, or you are about to list a unique property, call or text Michael at (416) 700-0286 or book a consultation.
Book a consultation Call (416) 700-0286Michael John Lau is a licensed REALTOR® with eXp Realty, Luxury Division (License #4784577), serving Markham, York Region and the Greater Toronto Area. Case studies describe real transactions; client details are shared with permission and some identifying information has been withheld. Past results do not guarantee future outcomes, and every sale or purchase depends on the property, the market at the time, and the client's goals. Nothing on this page is legal, tax or financial advice.