Laurie & Shapoor
Home Inspection Mistakes
7 Tips to Maximize Your Home’s Sale Price
Over the past few years, a real estate buying frenzy drove up home prices to eye-popping amounts. However, as mortgage rates have risen, buyer demand has cooled. Consequently, home sellers who enter the market today may need to reset their expectations.
If you want to net the most money possible for your property, you’ll need an effective game plan and a skilled team of professionals to implement it. Fortunately, we’ve developed a listing strategy that combines our proven approach to preparation, pricing, and promotion—all designed to help you get top dollar for your home.
But you will play an important role in the selling process, as well. Here are some crucial steps you can take to set yourself up for success:
1. Make Strategic Repairs and Improvements
Eighty-three percent of Canadians view “affording necessary renovations” as a major hurdle to buying a home. If you can present buyers with a move-in-ready option, they will feel more confident in making an offer. So, before your home hits the market, we’ll conduct a thorough walk-through to identify any issues that need to be addressed.
We’ll also help you identify upgrades that offer the highest return on your investment. For example, new paint is one of the top renovations for return at resale. Minor landscaping improvements can also pay off in a major way. A healthy lawn offers an estimated ROI of 256%.
2. Declutter and Depersonalize
When buyers view a home, they’re trying to envision themselves living in it. That’s hard to do if it’s filled with your photos and memorabilia. Plus, cluttered homes look smaller and dated. Now is the time to donate excess items and remove personal collections. If you feel overwhelmed by the process, we can refer you to a local service for help.
3. Stage Your Home for Success
The process of decorating your home to appeal to buyers is called staging, and it can be a game changer. Studies show that staged homes sell faster and for more money than their unstaged counterparts. Some sellers hire a professional stager, while others prefer the DIY route. We can advise you on the best path for your property.
4. Prep for Each Showing
Most of us don’t live picture-perfect lives, and our homes reflect that (sometimes messy) reality. But when your home is on the market, it’s important to ensure that it is always ready for viewers. Just a few minutes a day wiping down counters, sweeping the floors, and vacuuming can make a big difference. Remember: A missed showing is a missed opportunity to sell your home. Want help finding a cleaning service to make your home shine for buyers? Reach out for a referral.
5. Price Your Home Correctly From the Start
The temptation to list your home on the high side can be strong, but it’s best to be realistic from the start. The longer a property is listed, the more buyers worry that something is wrong with it. Of course, you also don’t want to set your price too low and lose out on potential profit. That’s why it’s essential to work with real estate agents (like us!) who know our local market and what buyers are willing to pay today.
6. Avoid Acting on Emotion
It’s only natural to feel offended if an offer comes in below your asking price. However, sellers who act rationally are going to get the best results. Keep your expectations reasonable and remain open-minded. And you can rest assured knowing that we’ll be by your side every step of the way to help you navigate the process and negotiate a great deal.
7. Work With a Local Market Expert
The economics impacting mortgage rates may be national, but real estate markets are hyperlocal. That’s why working with a professional agent who understands your neighbourhood’s dynamics is essential. Through our experience, we’ve gathered insights that can help us position your home for success in this market. Plus, we have the resources to connect with qualified buyers searching for a home like yours.
YOUR AGENT AND ADVOCATE
The market may be adjusting, but we’re here to help you make the most of it. As listing experts in our area, we know what steps you need to take for a smooth and profitable transaction. If you’re considering buying or selling a home, we invite you to reach out to schedule a free consultation. We’re happy to talk through your specific situation and goals and help you identify your next steps.
The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.
Laurie Fearon 514.575.7984
Shapoor Hoghooghi 514.295.8787
1. Chartered Professional Accountants Canada
2. RE/MAX Blog
4. International Association of Home Staging Professionals