The Do’s and Don’ts of Selling Your Home Successfully on the Canadian Real Estate Market

By | January 2, 2023

The majority of people who sell their homes fantasize about having a transaction go off without a hitch, in which they merely have to put their property on the market, find a qualified buyer promptly, receive payment, and then turn over the keys. If everything were that straightforward! The reality is that selling a home involves a lot of different moving components, some of which you can control and some of which you have no influence over.

Selling Your Home Successfully on the Canadian Real Estate Market

For instance, the location of your home might affect how long it stays on the real estate market and how much of a profit margin you can justify adding to the asking price. You have a better chance of selling your property at a greater price and in a shorter amount of time in markets with more buyers and fewer sellers. On the other hand, homeowners in regions where there has been a slowdown in the selling of homes will likely have a more difficult time finding a buyer who meets their needs.

Over the past two years, there has been an increase in pricing and bidding wars, in addition to exceptionally low levels of inventory, as a result of the unprecedented expansion in the housing market that has occurred since the coronavirus outbreak. However, it is anticipated that the market will calm down a bit, and in certain regions, it is already cooling considerably. This is due to rising interest rates (especially for mortgages), as well as concerns regarding a possible economic downturn.

DO find a real estate agent that knows what they are doing

You are able to select the proper person to work with thanks to the ease with which you may investigate the sales history and professional designations of different real estate agents on the internet. You may learn a lot about a real estate agent by reading their internet profile and finding out how long they have been in the business, how many transactions they have closed, and what designations they might have. Pay close attention to the manner in which they sell their listings, as well as the locations at which they do so, and whether or not they employ professional photographs.

DON’T waste money on upgrades that are unnecessary.

If you are going to make expensive upgrades, you should ensure that the modifications you make have a good return on investment before you spend the money. Also, you might not need to make these improvements to get the best price for your home, especially if there aren’t many homes for sale in your area.

This is where the assistance of a qualified real estate agent may be of great use to you. Most of the time, they know what people in your area expect and can help you plan upgrades based on those expectations. Most of the time, low-cost ways to make a great first impression are to paint the walls a neutral color, replace the carpet, and clean up the outdoor area.

Most of the time, making changes to the kitchen and bathrooms can give you the best return on your money.

DO have professional photos taken

You should coordinate with your real estate agent to set up a time for a photographer to take promotional images of your property. It is essential to take high-quality photographs because increasing the allure of your house online might be the deciding factor in whether or not it sells quickly or remains on the market for an extended period of time.