Navigating the real estate market can be an exciting, but often overwhelming, experience. Not only are there many options in terms of properties, but there are many professional services to consider when you are buying or selling a home. Learning from industry professionals can help make the process of navigating the world of Ontario real estate less stressful.
With this in mind, every month we will be showcasing a real estate professional as part of our new Real Estate Spotlight Series. We work with a wide network of real estate agents, mortgage brokers and other property specialists. We think sharing our connections with you will help answer some of the many questions you probably have. We believe the insights these professionals offer will be invaluable to you whether you are searching for a new home or investment property, looking to put a home or commercial property on the market, or you just want to learn about Ontario real estate.
Finding the right fit for any professional service is important. As part of our commitment to honest, transparent and personalized real estate services, we are proud to share our network with you.
Chris Chu Law does not accept or provide any type of referral fees in relation to the Real Estate Spotlight Series. Chris Chu Law has sole discretion in interviewing and posting information about the services of other real estate professionals. The Real Estate Spotlight Series is provided for informational purposes only and are not to be considered as an endorsement. Clients are encouraged to research any professional service ahead of hiring them.
Our first Real Estate Spotlight features Joshua Levesque, Sales Representative at Keller Williams Preferred Urban Realty. Joshua works at one of the top brokerages in Toronto and has a wide range of industry professional connections, ranging from mortgage brokers to media specialists. Josh offers his insights on what homeowners should know ahead of selling their property, what he enjoys about real estate, and what you should consider before hiring a real estate agent.
Question: What are the 3 most important things that sellers should know when putting their home on the market?
1. Pricing is crucial
The single most important factor to consider when selling your home is asking price. If it is priced too high, your house will sit, and interest will dwindle. The longer it sits, the more ‘stale’ it becomes. Of course, you can drop the price later on, but by then you’ve lost the ‘fresh new listing’ appeal.
On the contrary, you can worry less about pricing your home too low as this will often lead to multiple offers. In turn, the price will then be driven up to market value. However, if you’re planning on using this as a strategy to sell your home, make sure you have a firm grasp on current market conditions by consulting with your agent. If the demand isn’t high enough, purposely underpricing the property can actually have negative effects on the end goal; netting the most amount of money in the least amount of time.
2. First impressions matter
We all know this to be true, but it is especially true when selling your home. In order to gain the most amount of interest, your property should be fully decluttered, beautifully staged and impeccably clean. Yes, it is a lot of work to keep a house in this condition, but when things are done correctly, you shouldn’t have to live this way for more than a week.
Pretend you’re seeing things through the eyes of a potential buyer and then take the necessary steps to make it as appealing as possible. It’s no surprise that clean and nicely staged homes sell more quickly and at higher prices.
3. Timing makes all the difference
It is a well-known fact that Spring is the prime time for selling your home. The weather is warming up, flowers are blooming, and people are ready for a fresh start. Regardless of when you choose to sell, be sure to speak to your agent about a strategic timeline for your listing.
Question: Do you have a particular specialty?
With a background in Architectural Design, I’ve always been drawn towards unique properties. Over the years in the business, this interest has led me to focus on Downtown Lofts. I take joy in showing my buyer clients around some of Toronto’s coolest properties unit we find the right fit. With my seller clients; nothing excites me more than shooting an awesome lifestyle video to kick off the marketing campaign for the listing.
With that being said, I’ve worked with everyone from first time home buyers to seasoned investors. Regardless of what stage you’re at, I am more than happy to offer my help and guidance to anyone attempting to navigate the Toronto Real Estate market.
Question: What are 5 things to consider when hiring a real estate agent?
Arguably the most important factor in any relationship, good communication is essential. Do they really listen to your needs and wants? Can you see yourself speaking with this person on a daily/weekly basis for the months to come? If the answer is no, save yourself the headaches and keep looking.
2. Track Record
Ask for testimonials. This is a great way to get a sense of their credibility, trustworthiness and past successes. If they’ve got a ton of glowing recommendations, chances are you’ll be in good hands.
3. Neighbourhood Knowledge
If you’re wanting to buy in a certain part of town, make sure they are familiar with the neighbourhood and the corresponding market stats. Otherwise, it can be a bad case of the blind leading the blind. Your Agent’s neighbourhood knowledge is even more important if you’re selling. Knowing the ins and outs of the community (stats, demographics, new developments, etc.) will help them market your home properly.
4. Marketing Strategy
Every agent will put your property on MLS, but what else will they do to ensure it sells quickly and for the highest price possible? Find out if they have a good marketing plan in place, and if so, what it entails. This can be vital for a successful sale.
5. What makes them different
Do they have sharp branding, killer marketing or an impressive team? Maybe they magically knocked on your door just as you started to think about selling. Or perhaps you just have a really great connection with them. Whatever it is, just be sure it makes sense to you. Otherwise, the experience and overall results will be mediocre at best.
Disclaimer: Information made available on this website in any form is for information purposes only. It is not, nor is it intended to replace, legal advice. Contact Chris Chu Law to discuss a specific legal issue and please note that contacting Chris Chu Law, on its own, does not create a lawyer-client relationship.