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Pricing Your Property

If you are selling your home, it is vital to price your property fairly and competitively. The first few weeks a house is on the market will be the most important. These first few weeks are when the property is getting the most attention from prospective buyers. Pricing your property right will help you sell it quickly and at a better price.

Before you set your asking price, consider some of the aspects below, it could help you price your home competitively and sell quickly.

First, Make Minor Improvements

Making a few minor improvements before pricing and putting your home on the market will show buyers they can move in right away and not worry about spending for repairs. A well-maintained home will peak the interest of buyers as it will give them less to do to ‘fix’ their new home.

Avoid Overpricing

Your home is worth exactly what the market is willing to pay for it. It can be tempting to shoot for a higher asking price on your home, keep in mind that price could discourage buyers and agents alike from viewing your property. The bottom line is overpriced homes do not sell quickly.

In general, buyers are well educated, they comparison shop homes or properties. They know what they are looking for and what they want to pay. The buyer must see the reason your home or property is priced the way it is. A few of the dangers involved with overpricing your home include a reduced number of showings, it will help sell the competition, and it can cause appraisal problems.  

Again, your house will receive the most interest and attention when it is new on the market. To make the best impression possible when your property hits the market, price your home competitively.

The Top Five Benefits of Pricing Your Home Competitively

1. Agents will be more willing to show your property since it is priced appropriately.

2. It puts your home in a better buyers pool.

3. A well-priced home can generate competing offers.

4. When your home is priced to sell, potential buyers in your price range will find your home easier through search engines.

5. Pricing near market value will bring in higher offers.

Pricing Your Property

Get in touch with your Spectrum Realty agent who can assist you in determining how best to price your home or commercial real estate. Your real estate agent knows the ins and outs of the market and how best to sell your home. They have access to residential listings, commercial real estate listings and featured homes that you may not. Now you and your Spectrum Realty agent can make the most informed decisions possible on how to price your property.

Determining What Your Property Is Worth

At Spectrum Realty, part of our real estate services include a free home evaluation where we will give you an idea of how you should price your property. We are happy to assess your property and discuss with you our professional findings. With our expertise and assistance, you can rest assured knowing you will get the most out of your home.

There are a few steps you can take that will help you ensure an accurate listing price. In addition to talking with your Spectrum Realty agent about the best pricing for your home, conduct some research of your own. Visiting open houses in your area will give you an idea of pricing structure in your neighbourhood. Plus, you can discover highlighted features in homes in your area.

Another thing you can do is to carefully assess the real-estate market in your area. Look at the market conditions and the reality of the real-estate market in general. By noting where the market is and what it can bear, you will have a clearer idea where to price your house.  

What GTA Buyers Are Looking For

Keep in mind what the buyers in your area want. A finished basement, an apartment that can be rented out, closets, parking and the actual style of the home. Buyers may be looking for something that you have in your home but that you may not think you need to highlight. Consider the appealing features of your home and use them to your advantage.

If you are ready to sell your home and need help determining your listing price, Spectrum Realty can help. The value of your property is in what the buyer sees they are getting. Our agents will ensure your home is priced to sell. Let Spectrum Realty help you price and sell your home. With careful planning, setting a listing price that is competitive and having a selling agent on your side, you are setting your house up for a successful sale.

To schedule an appointment with us to view your dream home call 416-736-6500 or contact us here.

Spectrum Realty Services Inc., Brokerage

8400 Jane Street Unit 9, Vaughan, Ontario L4K4L8
Office: 416-736-6500
Fax: 416-736-9766

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 12/10/2019 8:20:03 AM