Receiving full value for a Toronto home may seem easy in the current competitive market. We hear about homes selling in less than two weeks of market listing with multiple offers. The reality is not all homes sell that quickly. It is feasible to receive a fair value offer for the property regardless of the home’s condition. The properties that do quickly solicit multiple offers have taken measures to ensure they will receive the full value from the real estate investment. Any homeowner can follow their lead to receive top market dollars with the following measures.
View Your Property Like a Product
Trust in your real estate agent. Their experience with other properties informs their advice to the seller, whereas sellers can struggle to take the emotion out of the process. Once a home is listed on the market, it is a product. An agent recommending fixes or staging is seeking to market the product at its best. Sellers seeking a high return must view their property’s strengths and weaknesses with a critical eye.
Keep the Property Spacious and Clean
Part of viewing the property as a product requires depersonalizing the home. The home must become a neutral slate to appeal to the majority of buyers. Sellers should remove personalized belongings like family photos and decorations. At the same time, pack away any extra items cluttering the home’s space. Keep clutter from countertops and organize overstuffed closets. Conduct a deep cleaning of the property. Tidy homes help buyers see the property’s potential and not be distracted by pet hair or dust. While the home is on the market, sellers must keep showing ready at all times.
Retouch Walls and Flooring
Updated paint and flooring is a quick way to freshen a home’s appearance. For painting, avoid bold, bright colour choices. Retouch trim and molding with a clean white and select a neutral colour for all the walls. Carpets showing wear date a home. When replacing carpets, the same principle applies: a high-quality brand in a neutral colour increases buyer interest. Refinishing wood floors returns the natural lustre, and for tile invest in grout cleaning to remove embedded grime.
Target Potential Buyers
Homes appeal to buyers based on their location and features. A bachelor seeks a different lifestyle than a family of four. The home should be targeted to a specific market segment for the highest chance of success. Luxury buyers want to know the property’s amenities and the location’s benefits.
​​​​​​​Barry Cohen is an expert at assessing luxury properties and identifying the right buyers. His experience in Toronto real estate means he knows how to get more than fair market value. When you are ready to sell for top dollar, ask Barry for a real estate consultation.
