If you’ve been thinking about listing your home, right now is a great time to be selling property in Ontario.
The average selling price of homes in the Hamilton-Burlington area for April was up by 21.8% over April of last year. Houses are selling fast. That means there is a shortage of listings to keep up with the demand.
Unfortunately, even in this hot market, I’ve seen properties taking too long to sell. Sometimes sellers and their agents aren’t doing everything possible to make the sale happen.
Whether you are just beginning to think about listing or are currently waiting for your home to sell, here are my 5 can’t-miss tips to selling property in Ontario.
1. When Selling Property, Good First Impressions Count
In real estate, first impressions matter a lot.
The first time a buyer sees your property is often the only time. You need to make sure that the first time they view it everything is at its best.
In today’s market, most buyers view online listings before taking the time to visit in person. So the first impression they have of your home starts with the way your realtor has designed the listing.
Make sure you have photos, and that they show your property in its best light. A good realtor will do research and write a description which appeals to your target buyer.
Other things that will help make a good first impression:
- Have your home professionally staged before the photos are done. Homes which are staged spend 90% less time on the market
- Remove personal items
- Keep the property clean and tidy indoors and out
- Put furniture in storage to make the home spacious
- Make sure closets and storage are not packed full of stuff
- Fresh paint
2. Do the Quick Fixes
Do you have a bathroom tap that’s been leaking forever? Maybe a closet door which doesn’t close properly?
These are the type of things I always recommend fixing before you show your home. You may have lived with them so long you don’t notice them anymore, but be sure that a new buyer and their agent will.
Don’t spend huge amounts on large projects. Sellers rarely get their money back on major renovations. If your kitchen or bathroom is out of date just make it look the best it can. Leave the remodeling to the new owner.
3. Set the right price
This is one of the most important things your realtor can do for you. They will research to make sure you set the right price.
If you start out at a price that’s too high, you risk scaring away potential buyers, but going too low may mean you don’t get the maximum benefit from the sale.
The right price is one that attracts viewings and invites competing bids. In the last year, the homes I’ve listed have been consistently selling above asking price.
With a good realtor, you can be part of that trend.
4. Always be Ready
It can be a lot of work getting everything ready to start showing, but the work isn’t over yet.
I advise my clients to keep their property in showing condition full-time until the home is sold.
Ideally, that’s going to happen in the first week.
But sometimes it takes a little longer. Real estate is unpredictable and you never know when the right buyer is going to arrive in your area. Make sure you stay on alert!
5. Choose the Right Buyer
Congratulations! Your realtor has done their magic and you’ve got several offers to choose from. But your property is not sold until you accept one of them.
Are you going to take the highest one? Probably; but keep a few things in mind.
Make sure the highest offer doesn’t have conditions you don’t want to meet, like including your grandmother’s china cabinet in the deal.
When selling property choosing a pre-approved buyer will decrease the chances of the deal falling through at the financing stage.
That saves you time and money by making the process faster and smoother.
Are you thinking of selling property in the Hamilton-Burlington area this spring? Contact me to discuss how I can help you get the best price in this seller’s market!