Jayashree

REALTOR®, Team Leader & Coach
Toronto Trusted Real Estate Advisor

The Selling Process

The Selling Process

Whether the housing market is “hot” or “cool,” the process of selling a home in Toronto is difficult. If you’ve never done it, it can be utterly overwhelming. How much is my house worth? What improvements or fixes must I make before I begin the home selling process? What is the ideal moment to sell? Should I sell or buy first? The list continues. We’ve put together a helpful “Selling Guide” to help clarify what to anticipate during the real estate process from beginning to end in an effort to assist with the answers to some of these pressing inquiries.

This is a big deal because the calibre of the listing agent you select to sell your home will significantly affect not only the amount of profit you make but also your level of frustration, the amount of time you gain or lose, your exposure to liability and risk, and the likelihood that your experience will be anything but pleasant.

A real estate licence does not imply expertise or that the holder is the ideal candidate for the task, similar to when you hire an agent to assist you in buying a home. Do your research before signing on the dotted line at all times.

Some questions to ask during your selling consultation are:

  • Why is now the greatest time to list my house?
  • Compared to industry standards, how long does it take your postings to sell?
  • How will you promote my property online?
  • Do you invest money on expert marketing? Feature papers, virtual tours, photographers, etc.
  • How frequently might I anticipate hearing from you as we sell our house?
  • What must I do to prepare my house for sale?
  • Do you know any excellent handymen, builders, painters, stagers, etc.?
  • What number of homes do you sell each year?

Additionally, you should have the agent confirm in writing that they will end their listing arrangement with you immediately if you aren’t happy with their performance. If they hesitate, you should really think again about employing them because Toronto’s house selling procedure demands a commitment from an agent and the assurance that they can perform the job well.

Not only do we have 17 years of combined experience selling homes, but we also have some pretty impressive listing statistics, including the fact that we sell homes 70% faster than the industry standard, earn our clients multiple thousands more per home sold, and sell over 3-fold as many homes annually as close to 70% of Toronto Real Estate Board agents.

If you don’t have impeccable taste or are a devoted minimalist, you’ll probably need to make some adjustments to get your house ready to sell. The first impression a buyer has of your house will impact whether or not they submit an offer. When it comes to the Toronto real estate selling process, the significance of presentation cannot be overstated.

Our list of essential house preparation tasks for the home selling process is as follows:

  1. Remove (some) Items
    Don’t worry—you’re not alone! Ninety percent of the houses we sell require decluttering! Removing objects from your home to make it appear more spacious is a no-brainer as the main justification for moving is a need for more space. This entails clearing off cluttered surfaces, emptying overstuffed closets, and storing excessive or unnecessary furniture pieces that detract from the appearance of your home.
  2. Fix What’s Defective
    Do you know what that strange noise your air conditioner started making last week or what the trickle in your basement bathroom is? Make a record of any problems so you can hire a dependable handyman to fix them. They might seem minor to you, but a buyer might notice them. The money will be properly spent.
  3. Brighten It Up
    There is nothing less enticing than seeing cobwebs in corners, filthy floors, or fridges that haven’t been cleaned out in months, so keeping your home clean goes a long way in the home selling process. Most purchasers can’t look past a dirty house, so if you don’t thoroughly clean it before putting it on the market, you’ll be leaving money on the table.
  4. Now , Its Staging 
    If done well, staging can cause a property to sell for thousands (and sometimes tens of thousands!) of dollars more than one that isn’t staged. Additionally, because staged homes stand out, they often sell more quickly than unstaged ones. Therefore, to display the best use of the area, add to or rearrange your furniture and accessories, repaint, switch light fixtures, and repurpose spaces.
Our Success Strategy :

We’ll give you the truth about what you’ll need to do (or not do!) to receive the most money for your property, whether it only needs a modest tune-up or a complete makeover. Additionally, we’ll put you in touch with our reliable partners in home remodeling and send our killer staging business to you for a free staging consultation.

Whether or not your Toronto house sells will depend on the property price plan you decide upon. Period. If you overprice it, it will languish on the market and lose its appeal to potential customers. Additionally, you run the risk of potential buyers believing the home is defective. On the other side, if your property is priced correctly, it will not only sell more quickly but will also be seen by more qualified buyers, causing you far less inconvenience over the course of weeks or even months of showings.

Here are some elements to consider when choosing your house pricing strategy that have an impact on property value:
  1. Will the season you sell during affect the list price?
  2. What homes are currently for sale, and how do they stack up against your house?
  3. What comparable properties in your area have recently sold?
  4. Should you list your home at market value and accept bids whenever they come in, or should you price it below market value to try to spark a bidding war?
  5. What house improvements have you made, and what is the typical ROI for those improvements?
  6. What comparable properties in your area have recently sold?
  7. What type of market is it currently—a seller’s market, a buyer’s market, or one that is balanced?

Did we mention our swaggering sales figures? We sell homes over 10 times more frequently per year than over 80% of Toronto Real Estate Board agents, get our clients minimum $30,383+ more each property sold, and sell properties 65% faster than the industry standard.

Why? Because before pricing your property and providing you with our assessment of its market value, we do in-depth market research and analysis and have extensive market knowledge. Not just before we list your house, but also while it’s on the market, we make sure we’ve viewed your competition (in person!).

When I first started selling real estate, agents didn’t even post images of the property online. How times have changed, indeed. Is that correct? Every day, listings still go on the market with poor photos snapped on the listing agent’s phone (or none at all)! and shudder when we consider the amount less that the seller will receive for their house as a result.

Just the top of the iceberg are photos. For the purpose of selling a home, a good marketing and advertising strategy should include:

  1. Customer-specific Marketing
    Whether it’s a single professional searching for a condo in the city centre or a senior couple trying to downsize to a 2 bedroom house, every home has a target customer. So be sure to pinpoint the right buyer for your house and their requirements before marketing to them.
  2. An effective presence in social media and online
    It is essential to have your property promoted across many online and social media channels because over 90% of buyers start their search for a new home online. Simply said, you must be where the customers are. And it includes websites like Facebook, Instagram, Google Plus, LinkedIn, and others.
  3. Expert Marketing Resources
    Buyers will probably tour several houses before deciding on “the one,” so you should dazzle them and stand out with expert images, lovely colour feature sheets, neighborhood postcards, and a personalized property video to help buyers picture themselves living in your home.
  4. Neighborhood Marketing with a Focus
    According to our experience, most buyers concentrate their house search on one to three locations, thus marketing not only your home but also your neighborhood (including the greatest parks, schools, restaurants, etc.) will increase the likelihood that people will find your home online.
  5. Market Research for Agents
    Not every agent will have a qualified buyer searching for your kind of home in your neighborhood, but some will for sure! It’s essential to market to these agents and understand where and how to find them online.

We are aware of effective marketing strategies, the areas where potential buyers are located, the agents most likely to find buyers for your house, and the best ways to advertise your neighbourhood online.

What is the process? Through the use of precisely calibrated target marketing and profiling, innovative listing campaigns that stand out, and a staff of the greatest freelance writers, marketers, videographers, and photographers in the industry. The outcome? More awareness of your property will result in more interested buyers, greater sales prices, fewer days on the market, and—most importantly—happy customers.

Let’s face it: managing buyers who come and go during showings at your home can be a real nuisance. Once your house is listed on the market, consider the following advice to make your life simpler and assist with the selling process:

  1. Make friends with the Starbucks or Tim Hortons near you.
    The last thing you want is for a buyer to arrive at your house for a showing and discover you there to welcome them. Make sure to remain hidden because buyers prefer privacy when they are looking at houses.
  2. Schedule shows at appropriate times that won’t drive you insane.
    Restrict showing times to before and after that time slot if your 2-year-old must sleep between 11:30 and 1:30 PM or else they’ll transform into a hell child. But there’s a catch to that. Finding a balance is important since purchasers will soon go on to other properties if you are too restrictive with viewing schedules.
  3. Make sure your house is always ready for a display.
    We advise that you clean your house well before going to bed so that you won’t have to worry about hurrying to get it ready for a same-day showing before you go for work the next morning. This advice will significantly ease your life and lower your stress levels. Additionally, we advise making a plan for your dogs. It’s better to leave your dog or escape-prone cat with a family member, enroll them in daycare, or bring them to work (if possible).

Before and during the selling process of your house, we’ll work directly with you to reduce any stress related to showings. Need a daycare facility for your cherished dog? No issue. Do you need someone to remove the newspapers and flyers from your front porch before you leave town? Count us in.

We also provide daily and weekly reports that monitor everything from tasks we’ve accomplished for your listing, marketing and advertising links, and new listings/solds in your neighborhood. We also keep you informed of all showing feedback (we ask for feedback after every single showing).

 

You have an offer, or better yet, several offers! Woot woot! The components of a typical offer (also known as an Agreement of Purchase and Sale) are listed below so that you will know what to anticipate:

  1.  Irrevocable Date
    The buyer’s offer will have a set expiration date after which it will no longer be valid. The irreversible period is the name given to this time span.
  2. Date of Completion
    The ownership of the property will be changed on this day. It’s agreed upon by you and the purchaser and is also known as the closing date.
  3. Fixtures
    Any object that is firmly fixed to the property is a fixture. A fixture would include, for instance, a bathtub, sink, or toilet that is permanently plumbed in.
  4. Chattels 
    Contrary to fixtures, chattels must be mentioned in the offer if the buyer wants to include them in the sale because they are not considered to be a component of the property. Fridges, stoves, dishwashers, microwaves, washer/dryers, light fixtures, and window coverings are examples of common chattels.
  5. Requisition Date
    The buyer’s attorney has until this date to conduct a title search and find out whether the property is subject to any work orders or liens. If so, they must be settled or closed prior to the completion date.
  6. The Deposit
    The buyer’s offer is accompanied with a deposit check, either delivered right away or within 24 hours of the offer being approved. The deposit amount will vary based on the property’s worth, but it typically equals about 5% of the total purchase price.

 Top Notch Home Selling Process

Now that you are knowledgeable about the specifics, what comes next? You have three choices after reviewing the buyer’s offer: reject it completely; accept it as-is with no modifications; or make a counteroffer to the buyer with modifications to things like price, closing, or conditions.

Over the years, we’ve honed our negotiation abilities, and now, we can confidently declare that we are bulldogs when it comes to battling for you at the negotiating table when selling your house.

No matter how much more money we can secure for you—hundreds or thousands more—we won’t let up until you’re completely satisfied.

SELLER LOVE!

We’ve got a kickass full-service experience that gets results.

CLIENT LOVE