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3 Tips on Selling Property in Brampton

Whether buying or selling a home, most people are advised to hire an experienced REALTOR® or real estate agent to help guide them through the transaction. However, some homeowners elect to conduct the transaction on their own. For homeowners that take the do-it-yourself route, there are plenty of things to be mindful of when selling your home. Selling a home is not a simple procedure. There are more than 145 steps to complete a real estate transaction, which means that homeowners will need time, skill, and experience to successfully complete the sale. Completing a sale involves large sums of money, stringent legal requirements and the potential for costly mistakes, which can make selling a home on your own a risky financial decision. For homeowners that are insistent on trying to sell their own home, here are three tips on selling property in the Brampton area.

Focus on Your Asking Price and Terms of Sale
While many homeowners have an idea of what they would like to sell their homes for, it is important to conduct some research on the true value of your home.  The most accurate way to accurately price your home is to contact a local home appraiser. However, be careful when setting your asking price. Overpricing your home can reduce a buyer’s interest, making competing homes look like a bargain. The real estate market will help dictate the price, so find out what similar homes in your area are selling for and price accordingly. Typically, asking prices are set around 5% above the market price of the home, which allows potential buyers some room to bargain without going below the value of the house.

Carefully consider the purchase contract’s terms and conditions as well. Too many contingencies can leave loopholes in your purchase contract, causing deals to fall through. Avoid adding terms that end up in the buyer’s favour and potentially leave you at a disadvantage when trying to sell your home.

Improve the Existing Condition of Your Home
One of the most common tips people receive when trying to sell their home is to improve the existing condition of their living space before putting it up for sale. Freshly painted walls, spacious layouts, and clutter-free spaces will make your home more appealing to potential buyers. Be sure to keep your closets and cupboards clean and tidy. One of the major trends in real estate is called home staging. This is the act of de-personalizing your home. This will help potential buyers envision themselves in your space. Home staging involves rearranging the home, de-cluttering the space, and improving the layout of certain spaces to maximize the appeal of your home.

Create a Marketing Plan
Once your house is ready to go up for sale, it is important to have a plan in place to create exposure for your home. Write your listing ad, take photos, hold open houses, and respond to all requests to view the home in a timely manner. Yard signs are also an important marketing tool for home sellers that can help drive traffic to your residence.

Using these three tips, homeowners will have a better chance at successfully selling prospective buyers on their property in Brampton without the help of a REALTOR® or a real estate agent. Selling your own home, can be a daunting task, but if you follow these 3 tips on selling property in Brampton, you increase your chance of success!