You're ready to sell your house, now what?

When it comes to selling your Toronto home, there certainly is a lot to know! After all, it's one of the hottest real estate markets in Canada and makes headline news on a regular basis. There is so much information out there, how do you weed through it all and get right down to what you need to kow? Well, we thought we'd make it nice and easy for you. Here are some of the most important answers to the questions you should be asking.
I want to sell my house, now what?
  1. Talk to a professional, a full time Toronto Real Estate agent. You have friends and family who have sold their homes, ask them if they liked their realtor and ask for their information. Realtors love referrals.
  2. Interview a few realtors. This is one of the biggest transactions of your life, you need to choose the realtor that best suits your needs and personality. You’ll be connected with your realtor for months, and hopefully a lifetime. So make sure you actually like them.

Sample question to ask while interviewing real estate agents.

  • Are you a full time agent?
  • How long have you been practicing real estate?
  • Have you done any sales in my neighborhood?
  • How many houses do you sell in a year?
  • Do you have a team? If yes, how many people are on your team
  • How are you going to effectively market my home in order to get the most amount of money in the least amount of time?
  • Do you use Social Media to advertise my listing?
  • Do you use video?
  • Do you provide staging?

These are just some examples of great questions to ask when interviewing possible agents to represent you in the largest transaction of your life.

How much are Realtor fees?

The typical cost to sell your property in Toronto through a realtor is 5% of the purchase price, paid upon closing. Click here to see a breakdown of those fees. Now create a new page just as above and have the following answer on it. The commission paid to Realtors in Toronto is typically 5% of the purchase price. Your house sells for 500K. That must mean we earn $25,000. That 5% is shared between the listing agent (us) and the buyers agent, $12,500 each. Out of the half you pay us for listing your house, here is the breakdown of where that money goes:

Listing agent:

  • Brokerage splits and fees: $2700
  • Advertising/marketing costs (professional video & photography, staging, feature sheets, mailings, online advertising): $3,000 – $4,000
  • Operating expenses (Realtor licenses/fees, car/gas/parking): $300
  • Taxes: $3,500

Which leaves a net income of about $3,000

I can sell it myself, why bother hiring an agent?

You could. There are some people who try it by themselves. Selling real estate on your own is always an option, but just like any DIY project, you might find that it ends up costing you more money and more time than you thought. This is your largest investment of your life, why wouldn’t you hire a professional to make sure you get the most amount of money for your home without you lifting a finger. After all, we are the professionals who do this on a daily basis. Even the owner of the largest For Sale By Owner companies had to hire an agent to sell his own place after not being successful on his own.

Should I buy or sell first?

Each strategy has its advantages and its disadvantages, depending on your unique situation. Contact us and we’ll put together a strategic plan that works best for you.

How do you determine the price of my home?

You’ve heard it before…Location, Location, Location. But of course, pricing is also based on timing, condition & competition. We will perform a Comparative Market Analysis, CMA, which is a comprehensive report we provide to clients who are thinking about selling. These reports detail the recent area market activity using the most up to date statistics. It provides the basis for an accurate suggested listing price designed to sell your home for the best price the market will bear.

What can I do to get ready for sale?

Call us! We will come to the house and talk you through the various things you can do to get your house ready. Every house is different, and maybe you don’t anything at all, great! Or, maybe you were thinking of spending a lot of $$$ that you actually don’t’ need too. Rest assured, we will make sure to suggest what needs to be done in order for you to get the best return on your money. Getting your house ready for sale is our most favourite part of the process.

Should I have an offer date and hold back on offers?

Holding an offer date is a strategy that works for some properties, but with others it doesn’t. There are variables when holding back on offers; neighborhoud, time of year, pricing and competition. We’ll discuss this as part of the real estate selling process together when we meet.

I have a house outside of the GTA, can you still help me?

Yes, but depending on the area, for example Brampton or Aurora, I would rather you deal with an area expert. I would be happy to connect you with a referral of a great agent in those areas.