When you’re in real estate, you get asked a lot of questions about how to sell your home for the best price. It’s natural. You’ve invested a lot of time and money into your home, and you want to make sure you get back what you put into it.
But there is an art to ensuring that you sell your home at a margin that works for you. Selling high includes doing some research first
Luckily we’ve done some of the research for you. Here is a homeowner’s guide to selling high in Ontario.
Selling High Starts with Crunching a Few Numbers
To properly estimate how much money you can make from selling your home, you start by deducting your current mortgage from your asking price.
Then you have to also deduct the following:
- Buyer Agent Commission
- Excise Tax
- Title Insurance
- Closing Costs
- Legal Fees
But that’s not all. You may also have to invest in:
- Home Staging
- Moving Costs
- Home Repairs: Most of the time, I recommend making small repairs, like replacing an old door with a new one. However, roofs, kitchens, and bathrooms often require more extensive and expensive repairs.
Using a Real Estate Agent Can Make Selling High Easier
Sounds counterintuitive but it’s true. Working with a real estate agent will actually mean you walk away with more money in the end.
But you’re probably focusing on the commission we earn. But even with that commission deducted, you’re still more likely to sell your home for a higher price using someone like me.
- Better Access: Do you know how to easily reach thousands of potential buyers? Most homeowners who choose to sell their own homes use a sign in their yard. I will work with you to develop a customized online campaign and send out targeted e-mails to prospects to help you sell your home faster.
- More Experienced: How many homes have you sold? I’m a seasoned professional. I know what paperwork to fill out, how to prepare your home for a sale, and how to price your home. That type of research can take you countless hours on your own.
- More Time: I can show your house in the middle of the day. Can you? I also know the laws, how fees are structured, and often, what your next step should be. Do you have the time to learn all that?
Keep in mind, commission fees vary from agent to agent. And any decent real estate agent will have you build those fees into your asking price.
Selling High Starts With Setting the Right Asking Price
Your initial asking price will set the tone for how quickly or slowly your home sells.
Here are a few other factors that can also determine how quickly your home might sell:
- Winter/Spring: Consider putting your home on the market in winter or spring. Sales tend to be higher during these seasons.
- Consider Setting a Lower Asking Price: This may seem like a bad idea, but rather than capturing one prospective buyer with a higher price, setting a lower price can actually start a bidding war. Ask for too much and your home could sit for months unsold.
No matter what, it’s important to get all the information you can before you start to sell your home.
Contact us to sell your home today.