Selling A Home – Spring 2021

May 17, 2021

It is no mystery that the current market is heavily favourable on the Seller’s side of the Real Estate lane. It has been for a long time in Southern Ontario, but not to the degree it is right now in Spring 2021. What this has done is given Seller’s a false….yes FALSE….sense of security. Depending on the expectation of the Seller, they still have to put in the work. Things to remember, you are never under any obligation to make repairs, improvements, or to clear out your home… if that is the sale path you choose, then you have to adjust for that in your list price and your expectation of the outcome. Managing expectations is a BIG part of our job, that and a dash of therapy. lol.

Not every house sells, even in a Seller’s Market. Buyers are still driving the market, they always do. Sellers offer the product and Buyers say yes or no. That will never change, it is the way of all sales. If you have a great product and the price isn’t right for what the buyer sees, it won’t sell, no matter how aggressively you pursue it. Here are our tips…..

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  • Set a Date: have the conversation, set a timeline that is realistic for you, then if that lines up with the market peaks…great…but always, always, always, for you. Rushing or dragging out your sale can lead to mistakes along the way. Work back from it for any jobs or tasks you are willing to take on.

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  • Consult Professionals: Yes, I am biased here, I am a Professional. If you are going the Realtor route, they should have contacts for the following professionals. Photographer, Videographer, Stager, Lawyer, Mortgage Broker, Contractor, Moving Company, Cleaning Company, Interior Designer etc. If you are choosing to take on the sale yourself, start making connections. Your timeline may depend on when you need their services and if they are available.

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  • Comparables: True, clear comparables. What they listed for, if they sold, how long it took, and USE THAT INFORMATION TO PLACE YOUR HOME IN THE MARKET AS THE MARKET DEMANDS. Say it to yourself over and over again.

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  • Know Your Demographics Of Buyer: The house up the road that had a pool or an apartment or 3 bedrooms upstairs or is a bungalow that sold for X does not mean that your house will attract the same buyer. Fact. You place your home in the market looking for the same buyer, you will sit on the market, and sell every house that comes after. Fact.

The real estate market in Ontario is a faced paced market, there is currently a flood of Buyers, there is no way to know when or if that tap will close. I spend every day 24 hours a day 7 days a week helping people buy and sell, I am hyper-sensitive to the subtle nuances of the buyers in the market. What they are looking for, what they are willing to spend money on, and why. That changes every other month it seems. The moral of the story, I trade in Real Estate all the time, I think I have seen it all, then something comes up and I am reminded I have not, but I know for a fact that there is a fundamental way to get your house to market that requires an intimate knowledge of who buys the product (your home) you are trying to sell. If you are taking the time to sell your own home, I recommend taking the time to get to know it too, or partner with someone who does and gets the job done. Always open to chat.

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