If you are looking to sell your residential real estate property in Toronto, you are looking at a seller’s market, but the deal you get still depends on how you go about it.
You can always get less if you don’t try hard enough, and much more if you make the effort.
As experts in Toronto residential property management, we have seen every possible way a real estate deal can go, and know exactly what it takes for it to work out in your favour. The difference between making the effort and not making the effort can add up to a nice four digit sum, so it’s really well worth it. So, without further ado, here it is.
The List of Tips to Get a Better Deal for your Residential Property.
Have the Right Agent
Your agent should be perfectly informed about the property itself as well as the neighborhood, keeping you updated on price trends in the area and advising you on when is a good time to go on the market. A Toronto residential property management company is very well positioned for this as well. We’d argue that it is even better positioned than a real estate agent can ever be.
Stage the Property
If you have renters in the property, it might be a bit difficult, but you should do your best to appraise them of showings. Make sure the place is well lit, tidy and smells good. Don’t leave anything out, to the point of having the cabinets and closets half-emptied and tidied up to make them look spacious.
Fix Everything the Doesn’t Work
Loose cabinet drawers, leaking faucets, rickety stairs, all contribute to buyer doubt, which often leads to a price drop. Fix everything you can, seal cracks and touch up the paint before your very first showing. Don’t over-upgrade, but fix whatever needs fixing.
If possible, put a third of your stuff away. Store it in the attic, garage or somewhere else where the buyer won’t see it. When your personal items are visible, it makes it harder for them to imagine themselves occupying the place. This is especially true for keepsakes, memorabilia, family photos etc. Go for the impersonal look, as close to a hotel suite as possible. If your Toronto residential property management company is helping you with the staging, they will be able to guide you through this process.
Prioritize the Rooms
The rooms are not all equal, and places like the Kitchen and Bathroom should take first priority. Next, the Living Room and Bedrooms. If you have to choose where to invest more effort, go by this order. If you only do one room, it should be the Kitchen. If it looks outdated, it can drop the property sale price by as much as $10,000, easily.
Be Always Ready
The place should be in “Show Mode” at all times. In fact, keeping it clean and show-ready takes far less effort than scrambling to clean up before every buyer’s visit, anyway, making this advice pretty easy to follow.
Add a few accents such as a bowl of fresh fruit and a vase of flowers and you are well on your way to make a good sale of your property.
For more advice on selling and managing your real estate, feel free to contact us now. High Gate is your best source of information on residential property management in Toronto.