The real estate market is ever-changing and even though it is still very much a seller’s market – the supply-demand ratio is beginning to tip in the buyers’ favour. This means that sellers may now need to put forth a little more effort to make their homes sale-ready.
Here are our 6 tips to keep in mind when selling in today’s market:
1. Pay Attention to the Details. Take the time to make your home look as pristine as possible. This means deep cleaning, decluttering, and de-personalizing. First impressions are everything. Get a second opinion and see if your home needs any extra TLC. If your home is not newly-renovated or modern, it might be a good idea to get it professionally staged. Buyers need to fall in love with your home – how much care you take in preparing it can influence their connection to it.
2. Have Eye-catching Marketing Materials. With more homes on the market, your listing must stand out. Incredible photography and video are critical to attracting buyers. Your REALTOR® should go above and beyond in ensuring your listing looks professional and has optimal visibility with an extensive marketing package.
3. Be Flexible and Available. Make time for showings. As the market cools, you may get less potential buyers viewing your home. This often means that the people who are booking appointments are more likely to be seriously interested. Make it as easy and convenient as possible! Be available, be flexible and be accommodating. It might be inconvenient for you to have to clean or leave your home later in the evening, but soon enough your home will be sold and you will be thankful you put the effort in!
4. Be Prepared for Conditions. When buyers are not in a bidding war, you can usually expect them to make a conditional offer. Offers can be conditional upon various stipulations such as the buyers receiving financing, or your home passing an inspection. These conditions are very common and normally last for 3 – 5 days.
5. Review Buyers Carefully. When considering an offer, it is important to scrutinize your buyer and their capacity to close the deal. Determine how secure the buyer is in terms of finances, keeping in mind that banks have become stricter with their lending. Some questions to consider: Do they have a property to sell? How much is the down payment? Who is lending them the money for their mortgage?
6. Be Ready to Negotiate. Determine what is most important to you. Are you firm on price but flexible when it comes to the closing date? Ensure you communicate with your REALTOR® and let them know what is most important to you. Having some flexibility will make it easier for negotiations and help ensure that both parties are happy.
The most important step you can take is to get an experienced REALTOR® with a proven track record on your side when selling in today’s market.
Take a look at some of my Client Testimonials and if you have any questions, feel free to give me a call at 416.921.1112 – Happy Selling!