There’s no doubt about the fact that Toronto’s condo for sale have increased in number over the past few months. As a seller, you should be worried because this is a sign that the space you once felt comfortable with is slowly changing into a buyer’s market. You don’t want to be that one trader who’s constantly checking on the progress of their listing. Selling a Toronto condo is not a Sunday picnic. Things don’t always turn out the way you’d expect and you might learn this the hard way unless you start thinking strategically. So if you’re about to list your condo, spare a minute and go through the following selling tips:
Your focus should be on the inventory available for sale
Forget about the seasonal cycles and start thinking about the available inventories. In the past, people used to take into account such fluctuations but just like the world, the real estate market in Toronto has evolved. Today, a property can sell for more in January and less in May due changes in the market forces.
Staging and photography contribute a lot of points
You only get to sell your Toronto condo for top dollar if you practice good salesmanship. It’s no secret that the demand has skyrocketed, and people are now selling their condos at higher than average prices. That’s no excuse to sit back and hope everything will unfold according to your liking. This is the time you need to work twice as hard to bait multiple offers. In such a hot market you have to stand out because the volume of condo listing is incredibly high. We’re living in a time where buyers keep searching for homes online instead of physically getting off their couches and asking around. Stay woke, my friend.
Understand the market rates
Pricing plays a pivotal role in the selling process. It’s even significant in comprehending the marketing mix and yet for some reason, it’s the one element that often goes awry. You first have to understand that emotions have no place in real estate business. Even if you feel as though what you’re offering is considerable more than what we currently have in the market you still have to be objective with the valuation. An emotional value is only subjective, and it will cost you a lot. Also, under-listing has never been a good idea.
Get a reputable realtor
If numbers are anything to go by, we have approximately over 40,000 realtors in Toronto. However, this doesn’t mean that all these people comprehend the market forces or interpret them in a similar way. Investing in real estate in a bold step and that’s why no one would wish to roll their dice on someone who hasn’t leveled up to the requirements that define a successful agent. A good realtor is one who specializes in a particular niche market and works full-time. You shouldn’t settle for someone who takes it as a hobby or an accessional weekend gig.
Learn the market trends
An expert realtor will do all the heavy lifting for you but it’s advisable you understand the macro and microeconomics factors that affect the property market in Toronto. Buying or selling a condo is a one in a lifetime transaction so you have to make sure you get it right. Learn enough so that you can be able to tell whether you’re working with a genuine realtor or one who’s only blowing smoke.
With these five selling tips you’ll close deals in a matter of days. Use them and share your condo selling experience with us.