Today, the real estate market supply exceeds demand, a phenomenon commonly referred to as a buyer’s market. The successful selling is dependent on how well you approach the process of selling your apartment and what tactics and strategies you choose. Here are some simple tips and tricks that will help you sell an apartment.
Ask for help
If you decide to sell an apartment (and especially if you do it the first time), it is better to turn to a qualified realtor. It is better not to ask your casual acquaintances or even relatives for help: their intermediary involvement may be not disinterested. In addition, you will not have to engage in the advertising process in search of potential buyers. What’s more, realtors can also help you with making the transaction with a buyer and they could help you find condos for sale later if you need a new place.
Smarten up your apartment
Potential buyers will not only form an opinion of your apartment, but also of the building, the porch and the yard. It is unlikely that you will be able to smarten up the yard. However, making the hall across your apartment clean and well lit is not that of a challenge.
Experienced realtors advise to bring an apartment into order and if necessary do small repairs. Plumbing must be working properly, windows and doors should be in working conditions etc.
Take the trash out of the house, and if possible, even the furniture – bright and clean rooms, which are not encumbered with different stuff, seem more spacious. Even if you have almost completely freed the apartment from the furniture, you should leave the curtains hanging – with them, the room would look cozier.
You could also add bright and memorable accents: put a vase with flowers, choose bright cushions for sofas and armchairs. If you have worn carpets on the floor, it is best to get rid of them. Whereas, if the parquet looks bad, you might want to get an expensive temporary floor coating.
Make a schedule of visits
If you have used the services of a real estate agency, then you should negotiate with the realtor the vising time of potential buyers. It is very important unless you want to be disturbed at any time of the day or night.
Do not overprice
Realtors advise not to overly raise the price of housing. At the stagnant market, it is better to set an adequate price as there are a lot of offers, and over-priced options will be inferior in comparison with other cheaper ones. A potential buyer, when choosing an apartment, focuses on the minimum (or medium) prices.
It will become clear if your offer is good in the first few weeks after you start selling it. If it is clear to you that buyers are not interested in your apartment, you may want to lower the price a bit. Then your apartment will acquire a competitive advantage in the real estate in Toronto and surrounding areas.