When the real estate market is hot – like it is now in Mississauga – homeowners are in a fabulous position to sell. Not only may they experience fewer days on the market, but they might also receive multiple offers over asking, which is a wonderful position to be in.
But selling in a hot market doesn’t mean just sticking a sign in the lawn and expecting the best. Some steps should be taken to ensure the most success.
If you’re getting ready to sell your Mississauga home in this sizzling market, here are four tips to consider:
1. Prepare Your Home
In a hot market, sellers often think they don’t need to stage their homes – and while that may be true in certain circumstances, it is important to do some preparations, like cleaning, decluttering or small updates. With such low inventory, buyers may not care if a home isn’t fully staged, but they will notice if the carpets are worn, the kitchen counters are cluttered or your walls are damaged. By preparing your home before you list, you boost your chances of a faster sale – and who doesn’t want that?
2. Price for the Market
Even in a seller’s market, it’s important to price your home accordingly by looking closely at recent sold prices for similar properties in your area. Some sellers might be tempted to set the bar high by overpricing their home, while others might choose a lower asking price in the hopes of generating a bidding war. Both strategies have their pros and cons, so it’s best to heed the advice of your realtor.
3. Choose an Offer Date
Similar to price, there are various strategies that sellers can use when setting an offer date. One option is holding offers until a specific date with a firm deadline, which is often used by sellers hoping to create a multiple offer situation. The other is viewing offers as they come in, which creates a sense of urgency with buyers and can work in a seller’s favour. Your realtor can suggest the right offer strategy for your situation.
4. Carefully Compare Offers
In a seller’s market, it’s not uncommon to receive more than one – if not multiple – offers and you’ll find that no two are the same. Don’t just choose the bid with the highest price. Instead, review every offer carefully and compare conditions, deposit amounts, move-in flexibility and any other terms. You can stand to be picky in this position and choose the offer that checks all of your boxes.
Ready to seize the opportunities in Mississauga’s hot seller’s market? Now is a fantastic time to list! To learn how I can help you achieve the best results, contact me, Deborah Clerk, Real Estate Sales Representative and ASA at Keller Williams Real Estate Associates, Brokerage.
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