Q: How would I determine if a home listing price is fair?
A: We start to determine a fair listing price by reviewing the property’s selling history and recent sales of comparable homes with similar features and characteristics. This is common among all Realtors. We also look at comparable and non-comparable properties in the neighbourhood to determine the pricing trends, whether positive or negative. We review the demographics of the area, crime levels, EQAO and academic ranking of the area schools at the provincial level, the age of the home, the number of repairs, the quality of the repairs, the soundness of the structure, the quality of the renovations, the number of owners, and other minute details that could affect the price and desirability.
Q: How do I know the right price to offer in the purchase of a home?
A: We will advise you based on the selling prices of comparable properties in the area, the length of time on the market, and the local market trends. Other factors such as street location, proximity to schools, playgrounds, railroad tracks, and expressways (sources of noise), future development plans, traffic patterns, the condition of the home, and numerous other factors can also affect price. We build a strong case for every price offer that we present, so it is more likely to be accepted.
Q: When is the best time to sell your home?
A: It is best to sell in a seller’s market, and in late winter and early spring. However, there are other factors that can affect timing, besides market conditions and seasonality. They include the availability of comparable homes on the market, the level of teardowns and new-builds in the neighbourhood, and new developments in the area. These and other factors can have a dramatic impact on the best time to sell. We look at all of these factors to assist you in deciding when to sell.
Q: Is it necessary, or even effective, to have a public open house?
A: While having a public open house isn’t the most effective individual marketing tactic to sell your house, when done strategically, it does generate interest… especially when it is bolstered with strong marketing communications to targeted buyers in the area, and to those of other Realtors. Depending on the conditions, such as the number of people going through the home, the concentration of the period of time, and the advertising used to promote the event, it can create interest momentum, and even scarcity… to prompt buyers into action.