Imagine this: Life throws you a curveball, and suddenly, you’re on a rollercoaster ride, needing to sell your home at warp speed. And just to make it more interesting, you’ve got the Toronto real estate market to navigate—a maze that even the most seasoned adventurers might find daunting. The mere thought of you tackling this solo has us breaking out in a sweat. Yikes! Please spare yourself the unnecessary stress because there’s absolutely no reason to go through this ordeal alone.

Let’s start with a big, deep breath. Inhale, exhale. Now, it’s important to remember that you’re not alone. Help, advice, and perhaps a considerable amount of hand-holding are on the way. What you need is the right real estate team, one who not only understand the urgency of your situation, but also have a well-oiled process to take you from point A to Z in the quickest and most efficient way possible. It’s like having a real estate SWAT team, ready to swoop in and save the day.

Let’s delve into the five crucial steps that we believe every home seller should prioritize when the need for a fast property sale arises.

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1) Hire a neighbourhood Real Estate Agent:

In a city with more real estate agents than there are coffee shops (and trust us, that’s saying something in Toronto), choosing the right one is key. It’s tempting to turn to your cousin who lives an hour away for advice. Still, let’s be real—unless they’ve mastered the art of teleportation, they might not have the insight on the quirks and charms of your specific neighborhood.

Treat your home sale as a strategic business move, not a family gathering. Hire the most qualified individual for the task, often a local agent with an extensive understanding of the intricacies of the local real estate market. In a sprawling city like Toronto, boasting numerous real estate marketplaces, strategies can differ significantly, particularly concerning pricing and timelines. The repercussions of incorrect pricing or a misguided strategy can transform your intended quick sale into an enduring saga. 

Wondering how to hire the best West End Toronto real estate agent for your listing? Check out these blogs next:

• Why Your Agent’s Communication Style Matters
• How to Fire Your Realtor!
• Top Secret: 3 Traits You Didn’t Know You Needed in a Realtor

2) Move out for the listing period & be flexible with showings!

A potential buyer is excited to view your property, but you deny their showing request because it’s a bit inconvenient for you. Cue the sound of opportunity knocking and you slamming the door shut. To avoid missing out on qualified buyers and constant life interruptions, consider moving out during the listing period so you aren’t feeling overwhelmed to keep your house looking perfect for the showings.  

Moving out not only alleviates the pressure of maintaining a picture-perfect home for potential buyers, but also introduces an array of advantages. By granting flexibility for showings, you open the door (quite literally) to a broader pool of potential buyers. But that’s not all. Professional home staging is an important secret weapon in the world of real estate and home sales.

Curious about making your home stand out for buyers? Read this blog next right here.

Home staging, even during a quick sale, plays a pivotal role in creating an irresistible visual appeal for potential buyers. However, here’s the catch—homes that undergo professional staging can’t be lived in during the listing period. Moving out during the listing period can be a real hassle, we get it, however the benefits are worth considering.

By moving out, you not only facilitate seamless showings but also allow the magic of professional staging to work its charm. The potential result? A quicker sale and a higher sale price. 

3) Do some research & set realistic price expectations

Ah, the age-old conundrum: comparing your home to the Joneses and wondering why they sold for a higher price two years ago.  The unfortunate reality for most home sellers right now is that higher interest rates have hindered the Toronto real estate market, influencing a reduction in home prices. At this moment in time, your home may not sell for the same price it could have sold a couple of years ago. 

Don’t let the comparison game ruin your sale. It’s crucial to listen to the current local market, review recent home sales and evaluate how these homes compare to yours. Base your price on recent sales, not the nostalgic tales of yesterday. Remember, your real estate agent is not a wizard. They are there to guide you through the reality of today’s market and help you make informed decisions.

Pricing is a big part of selling your home. Read our blog about setting the right price right here.

4) The pricing strategy you choose, can make or break your sale.

Just when you thought the real estate market was on pause, it hits play again in the last few weeks with many homes selling in multiple offers, but here’s the catch – the home selling quickly are the ones with the right pricing strategy. To complicate things further, what we have learned from recent sales and the homes that are lingering on the market is that buyers aren’t biting at market value pricing. Early fall was a real test, and the strategy of listing a home for sale with a buy it now price and no offer date set, was not working.

Many realtors quickly caught on and shifted their strategy to pricing new listings significantly below market value to generate more interest. Surprisingly, it worked once again! The key takeaway? Homes perceived as overpriced, based on the seller’s or their agent’s assessment of the market, face challenges regardless of prevailing market conditions. Embrace the right pricing strategy, adjust your expectations, and watch your home become the talk of the neighbourhood.

Get more selling insights with these blogs up next:

• How Long Does it Take to Sell a House in Toronto?
• How to Sell an Older Home in West Toronto
• How to Upsize When Interest Rates are High

5) Be strategic with your selling timeline

Given our focus on a speedy home sale, altering the timeline might not always be a viable choice. However, even a little flexibility can go a long way in a seasonal market like Toronto. A little extra patience could be the secret sauce to a smoother and quicker sale, giving you extra prep time needed to ensure your home is presented to the best of your ability.  For example, you planned to sell in July, but why not wait until September? The fall presents the second busiest real estate season in Toronto. Summer vacations are done and home buyers are circling back into a home search. Waiting just a few weeks could benefit the sale significantly. 

Selling your property in Toronto isn’t just about knowing the market; it’s about being practical, getting some solid advice, and teaming up with a trustworthy realtor. At NESTED, we’re not just about speeding up the sale process, we’re also here to make it all way less stressful. So, instead of getting bogged down by the details, think about bringing in a local expert and let the Toronto real estate scene do its thing. 

Do you need to sell your home ASAP? Get in touch today by calling 416-909-1602 or emailing us directly at hello@getnested.ca, we’d be happy to help!

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