It’s Labour Day week and undoubtedly, all over Toronto, people are fluffing their houses and getting ready to put them on the market. Here’s my take on the biggest mistakes Sellers make:
- Believing Houses Sell Themselves. I can’t tell you how much I cringe when I hear people say that selling a house is just about putting it on MLS. That’s just simply not true. Houses and condos sell for maximum $$$$ for 3 reasons: 1 – It’s priced right. 2 – It “shows” well online and offline (which means professional photography, a clean home and staging). 3 – It’s marketed to the people who are most likely to buy it (and not just the neighbours). Make sure to read 3 Reasons Your House Isn’t Selling.
- Assuming you’ll Get Out What you Put Into it. Maybe you will, maybe you won’t. Buyers don’t care how much money you spent renovating your home or how much you paid for it or how much your mortgage penalty is going to be. Your home is worth how much a Buyer is prepared to pay for it – at that moment. We wrote a blog a while back to help you understand how realtors determine How to Price your Toronto House or Condo.
- Staying at Home During Showings. While you may have the best of intentions, the reality is that going through a home while the owner is there is awkward. Buyers are embarrassed to look around and most tend to try to get out of the house as fast as possible (and that’s not going to help you sell your home).
- Playing Games: Just Because you Want a Bidding War Doesn’t Mean you’ll get a Bidding War. Sorry to burst your bubble, but bidding wars are not a guarantee, even in Toronto’s hot real estate market. Whether or not you get a bidding war is dependent on price, competition, location, timing and a whole lot of other factors. You can read about them in our blog: Should I Price my House for a Bidding War?
- Not Making your Bed Every Day. And doing the dishes. You never know when someone may want to see your place – it always needs to be ready to show! Click here for Tips on Preparing your House for Sale and Tips on Showing your Home.
- Assuming that it doesn’t matter which real estate agent you hire – they’re all the same. 73% of people hire the first realtor they talk to. Scary! If you want to get the maximum price for your house, you need to work with a pro: someone who knows your ‘hood, knows the market and understands the complexities involved (not just someone who took 6 months of online courses). Check out our blog on Not All Realtors Are Created Equal for more facts and figures.
If you want more tips on selling your house, give us a call!