Why Should You Pivot Your Home Selling Strategy

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Getting a great result on your home sale starts with a strong plan. However, with so many variables, outside factors, and what-ifs at play, it’s important that your strategy doesn’t become stagnant. 

Instead, the key to finding success as a home seller is flexibility and adaptability. This means knowing when to pivot your strategy and try a different approach – whether it’s before your home hits the market or while buyers are actively expressing interest in your home. After all, Toronto real estate is always on the move, so why would you pick a selling strategy that’s set in stone? 

In this blog post, we’ll touch on the importance of a home-selling strategy that’s fluid, responsive, and backed up by the guidance of your real estate agent. Keep reading to learn more. 

The Roots Of A Strong Strategy

Having a solid, well-thought-out plan in place for your home sale is great, but it shouldn’t come from thin air. An informed strategy revolves around understanding the Toronto market and knowing how to tailor your listing based on buyer behaviours, economic conditions, stand-out trends, and other unique factors. 

With that in mind, making sense of the market isn’t a one-time event. Instead, it requires ongoing analysis to ensure you’re working with the most accurate information available. When new information comes up or trends change, you’ll want to be in the loop in order to make the best choices possible regarding your sale. 

Want to make sure your home sale goes off without a hitch? Explore these other blog posts for advice and insights. 

A Market On The Move 

As a seller, simply surveying the market before you list won’t give you all the tools you need to maximize your success. Instead, it’s important to stay in tune with market happenings and new developments all the up until the deal is done. In reality, real estate in Toronto can turn on a dime. Not only that but certain micro markets (such as a specific neighbourhood) can develop and follow unique trends of their own – which can also shift at a moment’s notice. 

All that said, you’ll want to follow the market closely and adjust your selling strategy accordingly – before and during your sale. Your real estate agent will be your partner in this process. As an industry insider, they have access to up-to-the-minute information, statistics, and other informative data points that will be essential to ensuring your home is poised for a fast, top-dollar sale.  

Pricing Based On Where The Market Is Now  

One of the most common pivots that sellers make after listing their home is pricing. Choosing an informed asking price is one of the most essential facets of building an effective selling strategy. Your listing price should factor in comparable properties in the area, historic trends, any unique aspects of your home, and of course, contemporary market conditions. However, because the market can shift rapidly, it’s important to recognize that you may need to adjust your asking price in order to maximize your opportunities for success. 

If you hesitate to adjust your price, your home may end up sitting on the market for even longer. Not only is this frustrating, but it can also create suspicion among potential buyers who may wonder if there is something wrong with your home because it hasn’t sold yet. 

Worried about your home spending too much time on the market? Read these blogs next. 

Knowing What Buyers Are Looking For 

Your home’s decor, furniture, and overall atmosphere are a reflection of you and your family – which is great! However, these elements may not always line up with what most buyers are looking for. 

Ahead of your sale, you may be thinking about making a few pre-listing renovations with the hopes that they’ll help you land a higher asking price. While this is not a bad instinct to have, it’s important that you choose the right renovations before you invest the time and money. 

After touring your home and getting a sense of what your goals are, your real estate agent can make some professional recommendations on which renovation projects will come with the best payoff. While their advice may not be exactly what you had in mind, pivoting towards a more informed strategy will ultimately increase your chances of a successful sale. 

Thinking about selling your home? Contact us now to schedule a consultation and let us help you navigate Toronto’s ever-changing real estate market. Call 416-769-3437 or email to get started today!