With the exception of the downtown Toronto condo market, how much a seller can get for their home, and how quickly, depends on much more than just the actual value of the home.
Grace has decided to put her home on the market. Her first step is finding a realtor she can trust, ideally one who comes from a trustworthy source who has nothing but kind things to say even after their deal has finished. Grace’s second step is settling on a list price. Grace’s realtor says her home should sell for around $410,000. This number, of course, is determined after discussing the comparable solds as well as Grace’s current competition. If there are a number of homes for sale in Grace’s neighbourhood, it would be a good idea to view those homes and get a real feel for where she stands in comparison.
If she needs to sell within a month, she needs to list very close to $410K. If she has a window of a few months Grace can list perhaps around $430,000.
If Grace plans on listing in July, the window of an extra month or two isn’t a smart option. Most homes like hers will sell before September so that the kids can get into school. She needs to price aggressively. If she were listing in February, then maybe she could hope for a special buyer willing to pay more.
Perhaps most important, Grace shouldn’t be listing her place until it is 100 per cent ready to show. I cannot stress this enough. If she needs to clean up the basement, paint one of the washrooms, fix a few lights, etc., she should do this all (and her realtor should be telling her this) before it’s open to a single buyer. Grace shouldn’t be home during the showings, and she shouldn’t be cooking anything other than apple pie before the showings!
For more information, feel free to contact Amit at amitp@rogers.com.
– Amit is a Realtor/Developer with Re/Max. amitp@rogers.com
