Selling your home in Toronto, Canada – Toronto｜Homelife Condomax Reality

Toronto, the capital city of Ontario, Canada, is a cosmopolitan city that makes me fall in love with it. It’s an exciting place to live, with a concentration of arts and culture, fine dining, a vibrant business district, a sophisticated financial sector, world-renowned universities, and colorful festivals and events.

As one of the busiest cities in Canada, the volume of real estate buying and selling transactions here is immense and, in a word, quite: voluminous.

How do you stand out from the competition of many listings and sell at a super high price?

Selling a home is sometimes like selling a famous painting, with the power to get super high exposure, invite the “rich and famous” clients who love the painting, and quickly fetch a high price in the market.

There is only one secret sauce, a strong marketing strategy and a network of customers on hand!

This article is full of dry facts, knowledge that we have carefully compiled in the hopes of providing guidance to you. This article is market valued and covers soft furnishings, hard furnishings, choosing a broker, selling tips, timing the sale of your home, the fee process, and contract considerations.

1. The secret to maximizing your selling price position

Correct market valuation

The two words we emphasize here are “correct”.

Underestimating the market value of your property or overvaluing your home is one of the main reasons why some sellers are unable to sell their property at a high price.

How do you get a proper valuation? We use the MLS, Housing Masters, etc., or some AI appraisal software to look up recent selling prices, history, and research and discuss with the agent to get an appraisal.

To get the valuation right, you need to not only calculate the current value of the property You not only need to calculate the current value of the property, but you also need to add some accurate analysis and research to try to ensure that the appraisal matches the market exactly to increase the temperature and interest of your clients.

Once this is clear, you can use the following tools:

• MLS System : View recent listing transaction prices and get clear market data.
• AI evaluation software : Intelligent analysis and value prediction using big data models.

In-depth research with professional brokers : Discuss market dynamics and get real-time value in line with the market.

Enhance the attractiveness of your home:

A well-prepared home can add value, which can boost bargaining space by tens of thousands of dollars or more.

Small steps of improvement may add thousands to tens of thousands of dollars to a home’s value, and the following are specific ways to apply the highlights:

• Optimize soft furnishings : Utilize soft furnishing accessories to increase the weather of the space.
• Professional photography and virtual viewing services : to make an outstanding impression of the home on the client.
• Maintaining clarity and neatness : make the house look more desirable.

If you have special circumstances that prevent you from upgrading your home, you can also use some virtual remodeling software to enhance the appeal.

Strong marketing strategy and clientele contacts

As we all know, nowadays, buyers have fewer sources of clients, sellers need strong marketing strategy and rich sources of contacts to sell at a high price. A competent broker with a wide network of contacts will maximize exposure and get buyers quickly. With this knowledge, we know that the key to selling a home is strong marketing and promotional services.

What does marketing include? There is online promotion and offline marketing. Online promotion includes search engine keyword optimization, Google ads, email marketing, social media marketing, SMS marketing, etc. For example, some buyers will look for you on Little Red Book or Instagram. Offline marketing includes offline activities, merchant affiliate cooperation and so on.

Effective marketing and client networking is the key to success in selling a home. A competent real estate agent is not only adept at providing ample internet exposure, but also effectively uses marketing resources to form a rich network with a trusting client base.

2. Soft furnishings and hard furnishings

Soft furnishings:

Soft furnishings, which can also be referred to as soft décor, are all the interior decorations in your home that can be moved or replaced. Soft furnishings are very important to cover your property perfectly and thus sell it at a good price.

The focus of the soft furnishings is to look cozy and modern.

– Tip 1: color matching: choose light tones of neutral colors, such as beige, light gray, which can make the space appear larger

– Tip 2: Furniture layout: avoid too personalized, choose simple, modern furniture, give buyers more room for imagination!

– Tip 3: Decorations: add greenery, art paintings, cushions and other details to liven up the room

More tips: you can place some flowers on the day of your guests’ viewing to bring a natural freshness to the room.

In addition, each season belongs to a different color, so you can choose the right color scheme and visual effect according to the scenario at that time.

Hardcover:

Hardscaping refers to all interior furnishings in a home that cannot be moved or replaced, such as walls, floors, ceilings, doors, and windows.

The saying goes: we invest for a greater return. We all know that upgrades to hardscaping can significantly increase the market selling price, but you need to control your spending budget and choose the right remodeling choices so that your spending needs to be less than your earnings.

– Kitchen upgrades: replacing countertops (such as quartzite or marble), modernizing appliances.
– Bathroom remodeling: updating faucets, mirrors, and tile
– Floor refinishing: hardwood floors or high-quality laminate flooring are highlights that appeal to buyers
– Paint refinishing: painting is one of the must-do’s prior to selling a home, and fresh paint makes a new difference!

3. How to choose the right broker

Broker reputation: you can go to Google, York forums, Little Red Book and various other online searches for reputable reviews of the economy to see if there are any bad reviews

Brokerage communication skills: to understand his work experience, character personality, way of doing things, whether there are some professional insights, whether the exaggerated facts of the letter of the promise of a high price, how the implementation of the power, whether the Internet often publish relevant articles and videos. According to these professionalism to choose

The level of the broker: has there been a detailed and specific presentation of the marketing and promotional program, not just the number of past successes that will be listed on the MLS. The more details, the more data, the more credible the broker is!

4. Tips for selling

Clear the clutter: clear your home of excess items to make rooms look more spacious.

Create a selling point: Highlight the property’s unique benefits, such as a sunny living room or upgraded kitchen.

Open Houses: professional open houses are organized to allow more buyers to visit the property at one time.

Flexible Bargaining: Provide potential buyers with flexible bargaining space, but always keep a psychological bottom line.

5. Timing of the sale

Spring and fall are the peak times for the Toronto real estate market. Avoid winter listings as there are usually fewer buyers and showings may suffer.

6. Costs and process of selling a house

Main costs:

Brokerage Commission: The combined commission of the buyer’s agent and the buyer’s broker is usually 4 %-5%of the closing price. Generally speaking, the level of commission is usually directly related to the level of dedication and quality of service.

Legal Fees: Attorney’s fees range from $1,000-$3,000, plus disbursement fees, and HST taxes.

Land Transfer Tax (if the buyer is required to pay it). The amount is based on the closing price of the home and this fee is paid to the government. A refund of the land transfer tax is available for first time buyers of a property.

Cleaning and minor repair costs: subject to availability.

Home Selling Process:

1. Assessment of properties

2. Selection of brokers

3. Prepare a marketing strategy for the house and list it

4. Reception of buyers for viewings

5. Negotiation and conclusion of contracts

6. Completion of delivery

7. Elements to be noted in the contract

Prices and payment terms: Ensure that prices and payment terms are clear.

Delivery date: Choose the right time for delivery to avoid unnecessary delays.

Usually your real estate agent will do the checking for you, but here’s some solid advice: don’t choose weekends or public holidays for the handover date, and preferably not Fridays or the end of the month. Fridays are usually a busy week for lawyers, with all sorts of things to be wrapped up. Also at the end of the month the solicitor may be busy with a lot of tenant matters. Our advice is to choose a Tuesday or Wednesday for delivery, in case something comes up, the rest of the working days of the week are still available.

Incidental conditions: these include home inspections, financing conditions, etc. Home inspection conditions are usually required, and if everything is OK, only then can you continue with the contract. Selling a condominium property usually requires a property report from the management office. Financing conditions are what people usually refer to as loan conditions, if the loan can be approved, only then can you continue with the contract.

Furniture and equipment list: specify which furniture or equipment is included.

Our advice is that used furniture you don’t need or furniture that is hard to move can be negotiated with the buyer and sold to the buyer for continued use. This saves you the cost and effort of moving.

Legal review: Have a professional attorney review the contract to make sure the terms are correct.

Choosing a professional and patient lawyer is very important because there are many small details that may need to be handled by a lawyer after the sale of your house, such as the buyer finding out the house problems later on and the house leaking electricity and water, all of which may come back to you. A lawyer usually handles all the related legal issues after you sign the sale contract.

The map above includes North York, Scarborough, Thornhill, Markham, Richmond hill, Etobicoke, Vaughan, New Market, Aurora and Stouffville. Stouffville

Summary:

Selling a home is a process that requires lots and lots of thought and effort to accurately market.

Usually, the first two weeks to the first month of a home’s listing is the ” fresh period”, which is the best time to sell a home, and it’s important to take advantage of this time, or else you’ll get into a long tug-of-war that makes it difficult to sell at a high price.

Hopefully, you will find the right agent, price the property wisely, and ultimately succeed in selling the property for top dollar.

If you need further professional Greater Toronto Area home selling advice or services, feel free to contact our team.

You can click on the chat icon in the lower right corner and contact us, thank you!