If you put your home on the market TODAY,
how much will someone be willing to pay for it?
Do you know how your REALTOR arrives at the value of your home, today?
REALTORS compare the features of properties that have just SOLD, and are in the same neighbourhood, in order to get a true picture of the value of your home. (This is the perfect world scenario, although sometimes, if there are no recent sales, or no sales in the neighbourhood, we'll have to go to older sales, and adjust for time, and we may have to go to other, similar neighbourhoods ....)
There is a long list of features and amenities we look at/compare.
Here is a short list:
- number of bedrooms and bathrooms
- square footage
- construction (year, type)
- garage (parking), or lack thereof
- type of heating, air conditioning, swimming pool, and other features/amenities
- view from the property, or location within the street, neighbourhood (busy corner? facing a park?)
Before you put your home on the market, ensure your REALTOR goes over the market analysis with you, and make sure you understand it, so that you can list your home at a fair asking price.
Remember also that when you are ready to buy, your REALTOR should also be educating you about all the properties that have recently sold in that same neighbourhood, what they sold for, how many days they were on the market, what's still available and what the asking prices are .... this will help you decide how much to offer on the property.
Whether you're selling or buying, or both, you want to see a current market analysis, and you want to understand it.
The idea is not to give you information you would like/prefer to hear, in order to get the listing.
The idea is to get your home sold, for the highest amount possible, in the shortest amount of time, and that is only possible if your list price is realistic for the then current market.
If you are not currently working with a REALTOR, and require additional information, do not hesitate to call, or email, any time. I'm here to help.
Toronto Real Estate by Sylvie Conde, Broker
Sutton Group-Associates Realty Inc., Brokerage 416-966-0300