First of all, I’m not going to convince you to list your home with me. That’s not what I do. And don’t think I’m saying that just so you can read this article. It’s certainly not reverse psychology. I just want to be real and give you the facts. Especially if you’re thinking of using a for sale by owner Toronto home selling service to save commission.
Saving commission is perhaps the number one reason why Toronto homeowners try to sell their home themselves. And there’s nothing wrong with the idea of saving money. But before you set out and hammer a FSBO sign on your lawn, market on websites, do showings and negotiate your own sale, let me share some strategies with you. There’s no catch here. Use them as you see fit.
For sale by owner Toronto home selling strategy
In Toronto you have a lot of options. You can choose to sell your home yourself, which is for sale by owner. You could hire a flat fee brokerage. You can hire a discount brokerage. Or you could hire a full service brokerage. What’s the difference? Cost and level of service.
Before you list your own home for sale, do some research. Weigh the costs of each option. The price you’ll pay. How much time you’ll spend. And what you’re willing to do. A handful of homeowners opt to sell homes themselves to save money. Or perhaps because of a bad experience with a real estate salesperson.
There are a lot of homes for sale in Toronto and the GTA. The question is, how do you compete? Amongst all the homes listed by full service brokerages, discount and flat fee services, and even for sale by owner Toronto companies that offer MLS® listings, how do you get the attention of homebuyers?
Think like a home buyer
Forget about your role as a homeowner and home seller. What professionals in real estate do is market their homes based on the home buyer’s perspective. Unless you’re willing to step out of your shoes and think like a home buyer, you won’t be able to show off the benefits of your home the way a professional can.
Be a professional marketer
Don’t think selling your home is as simple as snapping photos, uploading a listing on the MLS®, and waiting for a buyer to come. If every FSBO and agent thought that way, it would be very easy to sell houses. You have to become a professional marketer in order to sell your home. Not only should you think like a home buyer, you should be able to identify what your target home buyer wants. And how your home can best serve them.
As a professional home marketer, you need to know how to position your home against other listings on the marketplace. What makes it superior? What unique features does it have? What is its story? How do you portray its character? Real estate professionals know how to properly present homes for sale to potential buyers. Study what professional real estate agents are doing. See what kind of marketing materials they use. What kind of resources do they invest in? Professional photography, videography, and staging are just a few.
Be a professional negotiator
Once you’ve mastered the marketing of your home, you need to switch gears and become a professional negotiator. If you want your for sale by owner Toronto home to sell at the highest price and for the best terms, you need to negotiate confidently. Many homeowners who decide to sell on their own realize how much emotional involvement is tied up in the sale of a home. They realize the benefits of having a buffer between them and the home buyers. Becoming an expert at negotiating takes knowledge and experience. If you’re planning to sell your home yourself, you need to acquire negotiation skills so you don’t lose money on the sale, or not get the terms you want from it.
Read some books on negotiating to better prepare yourself. If your for sale by owner Toronto home selling service offers negotiating a la carte, and if you know it’s not your strong suit, spend the money for it. If a real estate professional offered to help you with the negotiation and paperwork in exchange for a fee, take advantage. It could be the difference between losing money and earning a few thousands of dollars.