Under today’s shifting market conditions, a top-dollar result is no longer guaranteed. Therefore, sellers who are looking to maximize their returns will need to understand how to best approach the variables of the market.
In this blog post, we’ll offer key insights about how to sell your West Toronto or Etobicoke property without sacrificing a portion of your potential returns.
Looking to optimize your home’s market performance? Our strategic advisory services can help you achieve a smooth and lucrative sale. Call us at 416.441.2888 or reach us by email at evan@christensengroup.ca.
Work With a High-Performance Agent
Working with a local real estate agent is crucial for achieving the best result on your sale. However, in Toronto’s far-reaching real estate landscape, the spectrum of knowledge, experience, and performance offered by agents is remarkably wide. In a city with over 70,000 active Realtors, understanding the distinction between top-performing real estate agents and those with fewer qualifications is critical.
While there is no shortage of available agents to represent your home, a substantive portion of these professionals don’t possess the skill set, expertise, and industry connections to ensure your home sells smoothly and for the absolute highest number. In fact, of Toronto’s large pool of registered agents, less than 700 recorded more than 20 transactions.
Consider Multiple Candidates
In order to adequately determine an agent’s suitability, it is best to meet with them for a formal interview. Be diligent in the questions you ask. In addition to inquiring about their experience and market results, ask about various steps of the selling process such as marketing, negotiations, and pre-listing upgrades.
Be sure to speak with multiple agents before agreeing to work with a specific professional. Even if the first agent you interview seems like a good fit, analyzing other options can provide additional perspectives that will factor into your final decision.
Explore these related posts for more insights about the importance of being selective with the agent you work with.
- Why You Should Think Twice About Working With a Discount Agent
- How Agent Performance Impacts Sellers in a Challenging Market
Prepare Strategically
Preparation is a key facet of achieving a sale that leaves absolutely no money on the table. Even if you believe that your home is in pristine condition, there are always strategic optimizations that can help you improve your results. Common tactics include cleaning and decluttering, repairs, furniture or appliance upgrades, or staging.
Some pre-market preparations will entail an upfront investment of both labour and capital. With this in mind, maximizing your home’s ROI will require determining which preparations are actually worth it – and sidestepping those that could delay your sale or lead you into the red.
An elite real estate agent will help you undertake a cost-benefit analysis to ensure every upgrade or optimization made will have a worthy payoff upon sale.
Looking to optimize the sale of your Toronto home? Explore these blog posts for strategic insights.
- Why Staging is Important in a Balanced Market
- How Selling Luxury Properties Differs From Standard Listings
- Pricing Your Home Strategically
Know How to Price Your Home
Although you may have a target value or price goal for your home, selecting a listing price is far more complex than simply asking for your ideal return. At its core, tactical pricing boils down to maximizing buyer interest. The greater the volume of competing buyers, the greater the chance of a bidding war – which can amplify your final sale price to the very highest dollar.
In an ever-shifting market, buyers are constantly responding and adapting to different factors and variables. They make decisions based on both emotional and logistical considerations. Like sellers, they may face varying challenges as they work towards their real estate goals. With this in mind, your home’s list price should be informed by the behaviour and trends of local buyers.
This principle can manifest in a variety of pricing tactics, such as pricing to appeal to the widest possible pool of buyers, pricing for internet searches, and being open to price changes should buyer interest alter.
Looking to optimize your home’s market performance? Our strategic advisory services can help you achieve a smooth and lucrative sale. Call us at 416.441.2888 or reach us by email at evan@christensengroup.ca.
