Homeowners in the GTA, and Ontario, know that the market has shifted in the first quarter of 2022. No longer are we seeing homes go into multiple offer situations where the selling price is being catapulted into 10s or even 100s of thousands of dollars over ask. While this is good news for home buyers, we still are in a seller’s market, heading towards a balanced market.
But, unlike the beginning of 2021 or even in the Fall of that year, home selling strategies have changed. Our team, and Realtors alike, have had to come up with new strategies and game plans to help home sellers receive attractive offers for their homes. Given that we’re in the thick of the selling season, we thought we’d share some of our go-to tips and tricks when it comes to homeowners selling in this market.
So, if you’re looking for a way to achieve an attractive offer or get the best return on your investment, then consider some of these tips that our team uses for our clients.
Price Your Home Accordingly
If you only take away one of our tips, let it be this one! With the changes in the market, we’ve had to get incredibly strategic on the pricing strategies of our client’s home. Last year, we saw Realtors' pricing below market value, having their client’s homes fall into multiple offer situations and reaping a reward way over the asking price. This is now no longer the case.
We’ve seen many homes enter the market overpriced which leads to little or no offers at all. It’s important to let your Realtor team do their due diligence and come up with a price that is attractive to the current market that we are in. If not, a price too low could lead to your home being undervalued and a price too high could lead to no offers. It’s important to price just right!
Prepare Your Home for Viewings
If you want your home to be sold at top value, then it’s important to do your due diligence and spruce it up a little. Staging your home may not be necessary, but we offer complimentary home staging. It is important to clean it from top to bottom to ensure it looks ideal for photos and viewings.
This means preparing the outside as well as the inside. You want your potential buyers to be wowed and fall in love with your space, envisioning it as their own. Cutting the lawn, planting flowers, and a few simple other things such as a fresh coat of paint can do just that. If you want some guidance or other tips on how to enhance your curb appeal, feel free to check out our previous blogs.
Move to Market Quickly
If you’re sitting on the fence as to whether or not you should sell your home, now’s the time. In fact, as we’ve seen from November of 2021 to May of 2022, the shift happened quickly and drastically!
Selling soon is, of course, ideal, so it’s important to really sit down and make your decision quickly and efficiently. Especially for our homeowners who are considering selling now - it’s important to note that the market may be telling a totally different story in the next few months. So don’t wait and miss out on your opportunity.
Use a Realtor to Ensure the Best Offer
Some homeowners think that they can list their home, price it high (or sometimes extremely low) and do all the heavy lifting themselves without a Realtor. However, this often does not result in the best offer. We agree that yes, pricing is important, however, there are so many other factors to an offer such as the contingencies, like home inspection, financial status, etc.
A Realtor can help you navigate through all aspects of the sale, ensuring you come out on top with the best possible offer all around. Plus, you can leave all the tricky strategies such as pricing and staging to your team, and not have to worry about it. All in all, using a Realtor, especially in an ideal market, can make the process easier and more efficient.
It’s important to note that it’s not the same kind of market that it was a couple of months ago, and things are changing quickly. We offer more guidance through our free Seller’s Guide which you can download here. If you’re looking for a Team that can help get your home the best offer possible, then feel free to contact us today. We can walk you through our process and strategy so you feel confident in your decision of working with us!