How to Get the Most for Your Home in a Slowing Toronto Real Estate Market – Part One
A few days ago I got an email from a client who has been thinking of moving into a smaller house for several years. The family is all grown up and the house is too big and too much work.
Had my client sold her home a few months ago, she would have been able to sell at a much higher price when the market was brisker than it is today. But like so many of us, she thought she had plenty of time. Today she is facing a very different picture.
The home she wants to sell has come down in price while the smaller home she wants to move to has adjusted by a smaller amount.
Here are 7 strategies that you can apply in order to get a better than average price on the sale of your Toronto home. Making a mistake at this point can result in losing thousands of dollars.
These are the 7 most common errors home sellers make:
- Restricting the ability of buyers to see your home
Serious buyers act on impulse and will not wait to view your home if it’s not available when they want to view it. Within reason, you must make your home available to view with short notice. Remember, we have had a sellers market for over 10 years.
The tables have turned and we are now in a more balanced market. Either we accommodate to their schedules or these buyers will simply move on and buy another house.
Caution - If at all possible, do not ask the buyers to comeback because “right now it’s not convenient”.
Your sense of pride is commendable, but you should not blind yourself to your home’s flaws and shortcomings. There are NO perfect homes and the buyers know this. Be prepared to accept some of the buyer’s comments without losing your head over it.
- Keep a poker face
You do not owe anyone an explanation as to why you are selling. This even includes your real estate agent. Don’t be caught off guard. Have a perfectly reasonably answer, such as ” it’s been great living in this house but we want something different “, ” now that we have grandchildren we would like to be closer to our children. “
By being open about it and disclosing your full reason for selling your home you may run the risk of having this information being used against you in the form of a lower offer.
Look for more great tips in a slowing toronto market on Part Two.
Here is another fine example of a helpful blog. I`ve seen lots of these “How to sell your home” guides and they all were very helpful. I specialise in Toronto condos and I can say that selling a condo appartment is just as hard as selling a detached house. So these guides go for condos too.
I hope that more articles like this will apper and not just those numbers and stats.
Elli
I’m glad you found the information beneficial. We find that our readers appreciate the stats and numbers too.
Rosalin