How to Sell Your Toronto Home in a Balanced Market
08/24/22
Today, rising interest rates (and a few other economic factors) are steadily cooling down the city’s once hyper-competitive seller’s market. With fewer active home buyers, a growing surplus of inventory is letting some air out of the Toronto real estate bubble.
In balanced market conditions, sellers looking to get the best possible return on their home sale will need to be strategic. As long-time Toronto real estate agents, we’ve got a few tips for capturing the attention of potential buyers and helping you make the most of your home sale.
Want to know more about how rising interest rates are impacting real estate in West Toronto? Explore our blog post on the topic here.
Start With a Great Agent
In Toronto, home sellers have a lot of real estate agents to choose from. That said, no two agents are the same and who you choose to work with will greatly impact your home sale. From pre-listing preparations to marketing and closing the deal, agents take on a wide range of responsibilities during the sales process. You’ll want to do some research to find the right agent for you.
Not to mention – Toronto hasn’t seen balanced market conditions like today since the 1990s. This means that some newer local agents haven’t yet experienced selling in this type of real estate environment. As a seller, working with an agent who has first-hand experience in a similar real estate landscape can offer you a leg-up over other listings.
Transformative Upgrades
In a balanced market, buyers have the opportunity to be more selective in finding their ideal home. Strategic property upgrades and renovations can be a smart way to stand out from other homes on the market and increase your property value at the same time.
While some improvement projects can nicely increase your home’s market value, they may not always be necessary given market conditions. Before undertaking any significant renovations, talk to your real estate agent. As experts on home valuation and local real estate trends, they can help you determine which upgrades will help you get the best return when your home enters the market.
Looking to maximize your home’s selling price in today’s market? Explore these helpful resources from our blog.
- Will New Government Initiatives Really Make Housing More Affordable?
- The Power of Staging a Home to Sell
- Transforming Your Home: Before & After
Thoughtful Staging
In a balanced market, staging is essential. With fewer buyers looking for homes, it’s imperative that your home stands out from others on the market. In addition to catching the eyes of potential buyers, industry data shows that staged homes sell faster and for higher prices. Some agents may offer in-house staging services, or they can connect you with a third-party professional.
Don’t forget – these days, most buyers will first discover your home online. Therefore, you’ll want your home to look great both digitally and in person. A complete approach to staging should ensure your home shines wherever buyers see it.
Staging begins with a deep clean and decluttering. Then, larger furniture optimizations and carefully selected decorative elements create a cohesive and inviting aesthetic to maximize buyer appeal.
Looking to unlock more home selling insights? Sign up for our newsletter and get up-to-date information about West Toronto real estate sent directly to your inbox here.
High-Exposure Marketing
With fewer active buyers in today’s market, sellers should utilize a variety of both digital and traditional marketing techniques to maximize their reach. Once again, this is an important step to discuss when selecting a real estate agent to work with.
While each agent will have their own approach, here is a brief overview of our team’s expansive marketing philosophies.
First and foremost, a great presentation requires high-quality photos that make your home look its best wherever buyers see it. After capturing beautiful photos of your property, our multi-faceted presentation techniques such as immersive 3D tours, detailed video walk-throughs, personalized listing websites and magazine-style booklets allow potential buyers to picture themselves in your home before even stepping inside.
Next, our data-driven, targeted approach to digital marketing ensures your home reaches an expansive buyer audience. In this stage, we utilize a variety of online marketing strategies including organic and paid social media placements, display network advertising, digital newsletter promotion, and amplified presentation on an array of home search platforms.
Strategic Pricing
Like marketing, strategic pricing aims to maximize interest by presenting your home in a way that compels buyers. Pricing strategies can vary based on market conditions, however, a tactical listing price should be based on market data, local buyer activity, and property features. It’s hard to overstate the importance of a thoughtful, deliberate approach to pricing. Be sure to ask your agent about their pricing process.
Our Approach to Selling
As multi-decade veterans of Toronto real estate, we’ve seen it all. Our goal is to surpass client expectations by providing top-tier selling strategies and service that goes above and beyond. Beginning with a one-on-one conversation to understand your selling goals, we create a custom, results-oriented selling plan to ensure your success.
From pre-listing preparations to dynamic staging and full-scale modernized marketing techniques, we take a proactive approach to maximizing buyer interest. Next, our negotiation and business expertise allow us to land the best possible price for your home – keeping you connected, confident and informed all the way through.
We believe that every seller deserves an agent who will put them first. Whatever you need, we’re ready to help!
Want to learn more about our selling advantage? Explore these posts from our site.
Ready to sell your home? It’s time to find out if we’re the right fit – Book a Seller’s Consultation.
Sign Up For Our Newsletter
Looking for more great real estate content? Get it delivered to your inbox with our newsletter!
