If you're thinking about selling your home, you probably have a lot of questions. What's the best time of year to put my home on the market? How do I find a good real estate agent? How do I get my home ready for showings? And, perhaps most importantly, how much money can I expect to make from the sale?
This blog will answer all those questions and more, giving you a complete overview of the home selling journey—from start to finish. By the time you're done reading, you'll know everything you need to know about putting your home on the market and getting top dollar for it.
Ontario Real Estate Market
The real estate market in Ontario has experienced some uncertainty and rapid changes over the past decade. More recently, housing prices have continued to rise while the demand for housing has grown alongside it. Historically the Ontario real estate market has included a variety of property types espcially consisting of deattached housing and condos. Properties within the GTA are more costly in comparision to the rest of the province, so identifying the best property type and characteristics that you are seeking if you are looking to purchase a house is crucial. If you are considering selling your house, it is also important to identify properties that may have sold in your area and if they have similar characteristics such as the number of bedrooms. This can provide you with a benchmark within Ontario's Real Estate Market.
1. Deciding to Sell
The first step in selling your home is deciding that you're actually going to sell it. This may sound like a no-brainer, but it's important to make sure that you're truly ready to take on the challenge of selling your home before proceeding any further. Are you prepared to deal with showings, open houses, and potential buyers who might not appreciate your home as much as you do? Are you ready to move out and start fresh in a new place? If so, then you're ready to sell.
2. Value your home
First things first, you need to value your home. You can either do this with a traditional agent or use a newer technology called “Instant Online Valuation”. zown.ca is a popular company in this field that uses artificial intelligence to instantly value your home in seconds giving you the most accurate home estimate valuation in the market.
3. Finding the Right Real Estate Agent
Next, you need to pick the right agent. Experienced agents have been in the industry for over 20+ years and have a deep knowledge about the local market, providing you with ease and comfort when selling your home. The right agent should feel like your partner in progress.
4. Preparing Your Home for Sale
Now it's time to start getting your home ready for sale. This includes decluttering, deep cleaning, making any necessary repairs or renovations, and staging your home so that it appeals to buyers.
5. Marketing Your Home
Now that your home is in tip-top shape, it's time to start marketing it to potential buyers. Companies such as Zown will list your home on the MLS, their website, social media and on popular real estate listing sites like realtor.ca and hold open houses for interested buyers to get you the most attractive offers.
6. Negotiating With Buyers
Once you start receiving offers from interested buyers, it's time to start negotiating. Your agent will help guide you through this process and advise you on whether or not an offer is fair. Remember, the goal is to get the best possible price for your home—so don't be afraid to hold out for a higher offer if necessary.
7. Closing on the Sale
After an attractive offer has been accepted, your agent will help you with all the paperwork to been signed and get you ready for closing. This is when the buyer pays for the home in full and officially becomes its new owner. Congratulations—you've just successfully sold your home.
8. Agents Commissions
Now remember after the buyer pays for the property you also need to pay your listing and buying agents. Usually it’s 2.5% for each agent, which amounts to $25,000 for the average million dollar home. Certain companies such as Zown only charges $5,999 in commissions, which helps people pocket an extra $20,000 on average.
8. Hiring a Mover
If you haven't already done so, now is the time to hire a mover or rent a truck so that you can move all your belongings out of your old house and into your new one. Your dedicated agent can also connect you with a mover to help you with your moving as well.
9. Enjoy Your New Place (If buying a new home)
Now that everything is wrapped up and taken care of, it's time to sit back and enjoy your new place! Whether that means redecorating, taking up a new hobby, or simply spending more time with family and friends—now is the time to enjoy all that life has to offer and start your next chapter in life.
As anyone who has ever gone through the process of selling a house can say, it's not an easy feat—but it is definitely doable with help of a credible real estate firm. Follow the simple steps outlined in this blog and you'll be well on your way towards successfully selling your house in no time at all.