One of the biggest decisions that a Toronto homeowner can make throughout the course of their ownership of the house is to sell it. Once you make that choice, it is important to be able to sell a home fast in GTA. You also want to get top dollar for the home so that you can move onto the next phase of your life with a sizable down payment on a new home.
To achieve these goals, home sellers need to keep a few things in mind. Our proven 12-step home selling guide will walk you through the process step-by-step so you don’t miss anything.
Your home is probably your largest and most expensive asset, so it is critical that you are able to sell it for the highest possible price. Making the choice to sell it will have certain repercussions, so it is essential that the sale is smooth and quick.
In our guide, you will find out how to capitalize on your important investment, reduce the stress you may be feeling during the process, stay in control of your situation, and sell a home in the Greater Toronto area for top dollar.
Best of all, this real estate information you will receive is 100% free!
Why Are You Selling a Home in the Greater Toronto Area?
The answer to this question is going to be an essential part of your home selling process. You need to understand your motivation and reason for selling a home in GTA because it determines how you approach the process.
Your motivation affects all things related to selling a home. This includes your asking price, the amount of time, money, and effort you put into the preparation of the home, and much more. Learn how to sell a home for more here.
Why Do People Need to Sell a home fast in GTA?
Various people have many different reasons why they need to sell a home fast. Some of the most common reasons include:
- Transferring because of their job
- They need to trade up to a bigger house
- The home is too big, and they need to downsize
- Their mortgage payment is too high
- They put an offer in on another home and do not want to be stuck with two homes
- Change of location or neighborhood
- Need to be closer to family or medical facilities
- They are going through a divorce
When you know and understand your motivation for selling a home, you need to keep that information to yourself. The only other person who should know is your experienced GTA realtor. Your motivation could actually deter a home buyer from completing the sale!
Why Can’t the Home Buyer Know My Reason for Selling a Home in the Greater Toronto Area?
Although your reason for selling a home is likely 100% normal and legitimate, it could affect the way you negotiate its sale and how a potential home buyer approaches the negotiations.
If a home buyer knows the reason why you need to sell a home fast, that person could gain the upper hand during the negotiation process. Should the home buyer ask for the reason you are selling your home, be vague and general in your response. Saying that your housing needs have changed should be sufficient.
Giving a more detailed explanation could make the potential home buyer have some thoughts go through their minds that may be detrimental to your goal of selling a home fast and for the highest price.
Let us examine each reason mentioned and what a potential buyer might think:
Many people make a move for their jobs. It is 100% legitimate and common, but it may make the home buyer think you are desperate to sell. If so, that may lead them to make a very low offer.
You Want a Bigger Home
If you feel that you want or need a bigger home – no matter the reason – that is your business. It is not an indication that the home will be too small for a potential home buyer.
Unfortunately, if a home buyer hears that, they may begin to think that it is too small for their family as well. If you are looking to move up to a bigger home, check out our new FREE report, Moving Up Guarantee.
You Are Looking to Downsize
The reasons to downsize are as varied as the home sellers themselves. Sometimes, empty nesters are looking to find their retirement house now that the kids have moved out. Other times, people are going through a divorce and need a smaller space. Older individuals may be having a hard time with a home’s maintenance and upkeep. Whatever the reason, be sure it stays between you and your GTA realtor from Your Home Sold Guaranteed Realty – Legacy House.
You Desire a Smaller Mortgage Payment
No one wants to pay a higher mortgage payment, and if you are looking to lessen your monthly bill, that is an acceptable reason to sell a home.
However, if your home buyer sees what you paid for the home and knows that the price is listed similarly, they too may think they will not be able to pay a higher monthly payment. They may also be tricked into thinking that the home you are selling is overpriced.
Be sure you know what your home is worth before you put it on the real estate market.
You Put in an Offer on Another Home
Everyone who has ever bought and sold a home at the same time knows that there is a fear of having two mortgage payments for a short time.
Your potential home buyer will know this as well, and if they also know that you have already made an offer on another home, they may think you are desperate to avoid the Real Estate Catch-22. This could lead to a lowball offer.
At Your Home Sold Guaranteed Realty – Legacy House in the Greater Toronto area, we offer the guaranteed home sale program to keep this from occurring in your situation.
Change of Scenery or Location
If you tell home buyers that you simply want a change of scenery, they may start to think that making an investment in your home is a bad idea. Maybe there is something wrong with the house or that the neighborhood is questionable.
You Need to Be Closer to Family or Medical Facilities
If you or a family member is ill, that is your business. However, medical issues, especially in the age of COVID-19, may raise red flags. Potential home buyers do not want to risk their families becoming ill and may stay away from your home, regardless of whether or not COVID-19 is involved.
Do Your Homework Before Setting a Price to Sell a Home Fast in GTA
Setting a price for your home for sale is a careful balancing act. You want to make sure that your home buyers are aware of the absolute maximum they will have to pay for your home. Of course, as the seller you want the home buyer to pay as close to the list price as possible.
That is why setting the price is such an important task that takes great care, research, and planning. At Your Home Sold Guaranteed Realty – Legacy House, our experienced realtors will help you figure out what your home is worth and then set a reasonable asking price.
You don’t want to set too high a price to the point that home buyers don’t take you seriously. Too low of a price may lead you to getting far less than you want. For this task and many others in the home selling process, find out about all of our seller satisfaction guarantees. and the protection they offer.
Price Your Listing Based on Where You Live in the Greater Toronto Area
Many factors must come into play when you are setting a listing price for your home for sale in GTA. A few are listed below, so be sure to find out how each scenario can affect the listing price. It is always good to know what the homes in your area sell for so that you can set a reasonable price for your own home.
If You Live in a GTA Subdivision
For those who live in a subdivision in the Greater Toronto area, potential home buyers can easily look at recent sales in your neighborhood to find out what a reasonable price is for a home like yours. They will assume that the home is comparable to yours when it comes to the floor plans in a subdivision.
Keep this in mind when you price your home because it could lower the offers on your house. Without being able to see upgrades or major differences, home buyers may turn away from a higher priced home in a subdivision.
If You Live in an Older Neighborhood
As GTA neighborhoods change over time, each home may differ in minor or substantial ways. Because of this, you may find it difficult to truly compare your home to others in the area. This is why you need an expert realtor such as ours at Your Home Sold Guaranteed Realty – Legacy House to help you with the pricing process.
If You Decide to Sell on Your Own
“For Sale by Owner” – for some, these words represent freedom in the real estate market. For others, a nightmare. Selling a home on your own can be a challenge, especially for pricing. Check the potential value of your home by seeing what homes in your area sold for in the past 6 months, including those now on the market.
Think like the home buyers – checking other home sales is exactly what they will do. You can also look up home sale information at City Hall and be sure to read our latest report, “How To Sell Your Home Without An Agent And Save The Commission” to find out how to do it on your own.
Take Some Time to Go Home Shopping in the Greater Toronto Area
How can you find out what your competition is doing and what makes a home buyer turn away? Go see their homes! Look for things like:
- Floor plans
- Condition of the home
- The appearance
- Size of the lot
- Extra features
Be sure you are checking out the asking price and how much the homes actually sell for in the end. Be sure you are not pricing your home higher than a neighbor’s home unless you have a good reason!
How to Choose a Realtor Who Can Sell a Home Fast in GTA
If you are not planning to go the FSBO route, then you will need an experienced, skilled realtor in the Greater Toronto area. So, how do you find one?
You should be conducting interviews with your potential realtors and using these real estate agent selection factors to narrow down your choices.
In GTA, the best real estate agency in the area are ours at Your Home Sold Guaranteed Realty – Legacy House! You will quickly find out why.
The National Association of Realtors surveyed people who sold their homes independently. Two-thirds of them said they wouldn’t do it again. Want to know why? The primary reasons included:
- Setting a price
- Marketing handicaps
- Liability concerns
- Time constraints
Trust us, not all realtors are made equally. You should definitely do your research and find out what separates the good from the not-so-good in the real estate industry, and be sure to ask them the Questions Realtors Hate.
Why Choosing Legacy House to Sell a Home in GTA Is Your Best Option
At Your Home Sold Guaranteed Realty – Legacy House, we are an award-winning real estate team with plenty of experience and skills. We have a proven track record, and we love to sell homes fast and for top dollar. That’s a fact!
No matter what the real estate market is doing, we are always red hot!
- We sell houses 31.7% faster than average agents
- Our pre-qualified home buyers database has 93,723
buyers looking for a home like yours
- Your home may sell before even listing it on the market
It would be crazy to sell a home any faster than that! Be sure to ask us for a FREE home evaluation to make sure you know what your home is worth before you sell.
Ensure Your Home Makes a Great First Impression on GTA Home Buyers
When it comes to selling a home, it is critical that your home makes a great first impression on potential home buyers in the Greater Toronto area. It is a proven fact that the look and feel of a home will create a significant emotional response, and that emotional connection can lead to a sale.
Buying a home is an emotional choice, so be sure your home makes that connection with home buyers. Let them envision themselves in their new home.
Clean and Fix Everything!
One part of making a great first impression is keeping everything clean and well-maintained. The home should be scrubbed, scoured, tidied, and generally fixed up. Some other things to consider doing include:
- Dusting everything
- Repairing squeaks
- Making minor repairs like light switches that don’t work
- Filling in cracks in the bathroom mirror or replacing the mirror
Any of these issues could be deal-breakers with potential home buyers, so do not leave it up to chance. And keep in mind that you are competing with other resale homes and newly constructed ones!
Get Rid of Terrible Odors
Even if you can’t smell it yourself, be sure that your home is free of nasty odors. Things like food, pets, smoking, and kids leave a smell, and it can quickly kill a deal. Get rid of the odors so there are no questions in the home buyers’ minds of what odors came from and how long they will stick around.
Figure Out the Home Buyers’ Motivation to Sell a Home Fast in GTA
If you know what is motivating the home buyer to actually buy a new home, you may be able to get the upper hand in the negotiation process. You will be able to control the pace and duration of negotiations.
Keep in mind that home buyers want the best deal they can get (meaning, less money) on a great property. Stand firm on your price, especially if you get the advantage by knowing what is motivating them. You can negotiate more effectively that way.
For example, does your buyer need to move quickly? If so, armed with this information, you are in a better position to sell your home fast and for top dollar.
Stay Put Until It Sells
As we have said, buying a home is an emotional transaction, and home buyers do not seem to form that emotional connection as well with a vacant home as they do with one that is still lived in. It is more difficult to sell an empty home that appears to be forlorn and forgotten.
To make sure that home buyers do not smell eagerness from you knowing that you need to sell fast, stay in your home until you sell. It could cost you thousands of dollars.
Understand How Much the Buyer Can Afford and Their Timeframe to Close
For a better negotiating standpoint, find out the home buyer’s budget and their ideal closing time. Be sure you know how much money the home buyer is qualified to borrow, including the down payment.
A low offer may mean that they simply cannot afford what your home is worth. Also, be sure to understand if the closing date is one that they would “like” or is more based on “need”. That will give you an advantage in negotiations as well.
Selling your home in your time frame with no risk can make this process easier.
Don’t Get Emotional During Negotiations
It is critical that you keep your emotions in check during negotiations. You must think of the sale as nothing more than a transaction, and this will continue to give you the upper hand in negotiations with a home buyer who does become emotional.
How to Handle a Low Offer from a Home Buyer
One of the most common things to happen to home sellers is to receive a low ball first offer from a home buyer. It will usually be much lower than your asking price, and likely the home buyer knows you will not take it seriously.
Here are 2 things you should do in this situation:
If and when you receive a low first offer, do not panic and do not take it as a personal offense. Make sure you evaluate it for the following:
- It spells out the offering price
- There is a sufficient deposit on the down payment
- The mortgage amount is listed
- A closing date is written
- Special requests are noted
After that, you have a place to start your negotiations.
Be Ready with a Counter Offer
When you get a low offer, have a counter offer in mind, specifically one that is just under your asking price. That lets your home buyer know that the first offer was not taken seriously and you are ready to negotiate for real.
Negotiating with serious home buyers will allow you to sell a home fast. If your home does not sell, be sure to reach out to Your Home Sold Guaranteed Realty – Legacy House to discuss our guarantees.
How to Calculate a Listing Price to Sell a Home Fast in GTA
Calculating your listing price is not simply choosing a number out of thin air. It takes real estate market research and serious consideration.
Home sellers often ask our team at Your Home Sold Guaranteed Realty – Legacy House how much they can sell a home for and how fast it will sell.
Use the skills and experience of a real estate expert to help you calculate your asking price so that it will sell quickly and for top dollar.
Sell a Home Fast in GTA and Get Cash!
Selling your home for cash is a great way to sell a GTA house fast and for top dollar. You also get the freedom to buy a new home without taking on any debt since you will have plenty of cash in hand.
So, where do you find those cash buyers?
At Your Home Sold Guaranteed Realty – Legacy House, we have the cash home buyers you need to get your home sold for cash. Our team is ready to your home with our buyers instantly.
Using our marketing systems and consumer programs, we can automatically sift and sort out the best-qualified prospects for your home. Don’t worry. You won’t have to leave your home unless we show it to a prequalified person who is genuinely interested in your home’s features. That person will be ready to buy now!
Are You a Home Seller in GTA? Reach Out to Us to Sell a Home Fast!
If you want a quick response via email, fill out the form below with the requested information. We will send you all the information you need to sell a home fast in GTA. Our step-by-step guide and our Great Toronto area real estate experts are on your side. Get ready to start packing!