Knowing how to sell a home in Toronto has a lot of moving parts. Whether you’re selling your first condo or house, or buying an investment property, we’ve got you covered with everything you need know.
Preparing your Home
Let’s face it, we all have lots of stuff – it’s a part of life (and possibly what got you wanting to move to a bigger home in the first place). Making potential buyers fall in love with your home is the secret ingredient to selling your property for top dollar.
So when it comes to getting your home ready for sale, we need to create a vision that allows buyers to fall in love with your space so they can see their stuff in place of yours. Below are the key steps we recommend when people ask us how to sell a home in Toronto.
Declutter and De-Personalize
If you’ve been living like the Fockers, this is about the time we’re going to suggest taking down the shrine and hanging a nice picture or painting in it’s place. Putting away grandma’s priceless china and taking down a few pictures can go a long way in neutralizing a potential buyers perception of your home. While you might be proud of how you live, it’s important that buyers can see their furniture and belongings in place of yours.
Repairs & Reno’s
Now is the time to fix that leaky faucet, moisture around the windows and crack in the drywall. You would be amazing at how quickly potential buyers will dismiss your home’s potential because they don’t want to have to do the work. While we won’t recommend tearing down the wall between the kitchen and the living room, we will suggest fixing that crooked shelf and patch-ing up holes in the drywall.
Pre-list Home Inspection
A pre-list home inspection is not mandatory, but we won’t sell a house without one. Just because you’ve been living with that leaky faucet, doesn’t mean the next owners will. By doing a pre-list home inspection, you’re are certifying that the house is up to code and providing piece of mind to potential buyers. While it is quite common for a buyer to do their own home inspection (it’s always good someone you trust do the work), having done your own will bring any issues to light and allow for a more efficient offer and negotiation process.
A lot of people can’t see past the grime, especially when it’s someone else’s. Getting your house in order is important, but we want it to shine. We will cleaning your place top to bottom to give it that extra wow factor when buyers walk through.
Now that we’ve put away 15 years worth of magazines, hidden grand-ma’s knick knacks, and taken down the shrine for Gay Focker (who hasn’t seen Meet the Fockers?), it’s time to creating a vision for potential buyers.
Staging is more than just putting a book on the coffee table and putting away the TV remote. It’s both a science and an art form. We consider ourselves artists in this regard and your home is our canvas. We have taken courses in staging and do everything ourselves. While many Realtor’s don’t offer staging or change an extra fee, we will stage your home and the cost is included in our commission.
Pricing & Marketing
Pricing needs to be strategic and a critical part of knowing how to sell a home in Toronto. We can’t tell you how many times we have come across properties that have been priced incorrectly (both too high and too low), resulting in the sellers not getting nearly the amount they should.
We know the Toronto market well. Really well. We can usually tell you what a house will sell for within $5-10K of the final sale price (you would think we had a crystal ball, but we don’t). Knowing each individual neighbourhood, market trends, buyer behaviour and the types of buyers for each property all play a key part in pricing. We know to price competitively in areas like Leslieville and Riverdale, but to use a more conservative pricing strategy in an area like Wanless Park.
An effective marketing strategy will generate interest in your home. We target three key audiences:
1. People looking to buy
2. Realtors working with buyers
3. People that want to buy, but don’t know it yet
Stunning photography is critical for allowing buyers to experience your home online and in print. Our digital and print marketing strategy allows us to target all three audiences through MLS, social media and traditional advertising.
Now that your home is ready and perfectly priced, it’s time to open your doors to the public. Here are a few things that you need to be ready
Be flexible with showing times
Most people work during the day and are going to want to see your home in the evening or on the weekend. If you have kids (or pets), you are going to need to plan accordingly. It’s unlikely that some-one will buy your home without seeing it, so you’re going to need to be flexible.
Leave your house during showings
When buyers go through a property, they want to be able to take their time and speak freely about their experience. If they like the space, they may start discussing where they would put furniture or make changes. By being home, it makes buyers feel like they’re walking through someone else’s house and it can make them feel like they’re intruding. Pack up and go for walk, do some shopping or grab a coffee.
Make sure your home is always in top condition
A messy house can make or break a buyer’s decision to make an offer. Showings can be booked at anytime, including when you’re not home, so it’s important that your house is al-ways in show quality. That means putting the dishes away after every meal, making the bed and sweeping, cleaning and vacuuming regularly.
Selling your home comes down to what buyers are seeing and feeling. Providing timely feedback to questions or objections will go a long way in selling your house faster.
The Toronto market is competitive, there is no arguing that. We will prepare you for every scenario and make sure that you know what your options are when we list. Whether we have a set offer date for multiples, or need to negotiate, you have our expertise on your side.