It’s no secret that accomplishing a great home sale takes effort and strategy. As a real estate agent, I have a long list of tips, improvements, and techniques to help sellers get the best results possible.
That said, not everyone wants to go through the process of pre-listing preparations. Although it can have a great payoff, it can also be a lot of work.
Selling your home as-is has its pros and cons. So, if you’re thinking about listing without making any strategic changes, you’ll want to make sure you understand the potential drawbacks and what you can do to get a good result possible based on your approach.
Here’s what you need to know about selling your Toronto home as-is.
Curious about my results-driven approach to selling homes? Click here to learn more.
Why Are You Selling As Is?
Every homeowner (and home) is unique. If you’re hoping to get your home on the market without making any changes to it, there’s probably a specific reason why.
If you feel strongly that your home is already market-ready, it’s a good idea to consult a real estate agent first. Occasionally, sellers think that listing as-is will be the right strategy for their goals – only to find out that it actually won’t be the best approach.
Here are a few examples of why sellers may wish to list their home as-is:
You Don’t Think You Need to Put the Work In
The Toronto real estate market has been known for its fast-paced sales in recent years, with homes often selling for more than the asking price within hours of being listed. Because of this reputation, some sellers think they can simply list their home as is and let the market do the work for them.
In reality, today’s market is much more balanced. Buyers have lots of inventory to choose from and aren’t feeling pressured to outbid their competition (at least not as often). Therefore, sellers should try to make their home stand out if they want to get the best result possible.
You Want to Sell in a Hurry
Sometimes, you may be saying “I want to sell my house urgently” and need to get your house on the market and sell it as quickly as possible. You may think that bypassing pre-listing preparations can speed up your sale, however, it can also have the opposite effect.
Remember, today’s buyers have a lot of homes to choose from. If yours doesn’t stand up to the competition, it could sit around for weeks or even months without an offer.
Keep in mind that even if you do need to list your house quickly, there are a few easy and minor improvements that can have a significant impact when it comes to attracting buyers.
Want to know more about selling your home as fast as possible? Click here to read my blog post on the topic.
Your House Is in Bad Shape
If a home is in especially poor condition, some sellers may choose to list it as-is because they feel that it’s simply not worth the effort involved. Rather than attract buyers who are looking for something turn-key, you might think your home is better targeted to someone looking for a fixer-upper.
Some Toronto buyers are searching for a home that they can flip or demolish. However, it’s a much smaller pool – approximately only 1/10 of buyers. On top of that, these buyers are usually looking for a deal, so you could be leaving money on the table by only focusing on them.
Your home may have more potential than you think! It’s a good idea to have an unbiased eye (i.e. a real estate agent) assess your home before you make a decision.
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Disclosing Property Issues
If there are major issues with your home, you’ll need to submit a Seller’s Property Information Statement (SPIS). This is a formal record of any big issues the home has had, including those that are already resolved. For example, let’s say you had a major hole in your roof repaired a few years ago. You’ll need to mention that in the SPIS. Or maybe you once had pest problems – that also needs to go in.
The SPIS creates transparency, which ensures buyers have a fair understanding of what they’re signing up for. It can also give them a little more leverage when it comes to offers and negotiations. However, it also protects your liability as a seller. If you’ve acknowledged all known issues with your home, it’s harder for buyers to back out once they’ve moved in.
How to Get the Best Results From Your Sale
Regardless of what you’re looking to accomplish, the best way to sell your home is with an experienced and knowledgeable real estate agent – like me!
As a market leader in Etobicoke and the West GTA, I have a track record of selling homes faster and for more money than the industry average. No matter what your goals are, I’ll help you create a strategy that works with your timeline, honours your expectations, and is tailored to your unique property.
Ready to sell? I’m here to help! Reach us at 416.837.9676 or steph@stephaniek.ca to start your journey.
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