You likely know all too well that the housing market saw a tremendous shift this year. Homes have lingered on the market much longer than they have in previous years due to a lot of buyer hesitancy brought on by war, inflation, and interest rate hikes. As a result, home sales are down in Southern Ontario from 25-50% compared to 2021.
It can be very frustrating if you are one of the many people who listed their homes this year and were unsuccessful. Whether you need to move for work, downsize to reduce household bills, or expand due to a growing family, having your plans and goals put on hold due to the market shifts can be really discouraging, particularly after several years of plans being put on hold due to the pandemic.
So if your house didn’t sell, what can you do next? Here are five key steps you can take to ensure that your plans can move forward, starting with the sale of your home.
We see it again and again: people truly underestimate the value of professional photos and videos. With the popularity and accessibility of iPhones, digital cameras, and do-it-yourself editing apps, people assume that creating beautiful images and video are easy just because they have the tools to snap a photo when it is so much more than that.
Professional photographers and videographers are worth every penny because they are experts in their craft, educated on the importance of angles and proportions, and masters at telling the visual story of your home through filming and editing techniques. From the buyer’s perspective, buying a home is an emotional experience and a big decision, so it’s important to market your home expertly with beautiful photos and videos that will give buyers a reason to view your home in person.
The importance of having a dedicated marketing plan to sell your home cannot be understated. For example, a detached single-family home listed in Barrie should be marketed differently than a trendy condo in the heart of Toronto, which should be marketed differently from a quaint bungalow in Midland. This is because each home appeals to a different type of buyer and is likely at a different stage in their journey.
It’s important to work with a team that can see the potential your home may have to key demographics and market it in a competitive way with similar listings in your area. In addition, as the Real Estate market changes, you will want innovators ahead of the market trends and willing to push the envelope in new marketing techniques based on years of experience.
Not many people know this– but buyers often make their decision within just a few steps into your home. First impressions are everything. Once your home hits the market, it becomes a product for sale. Your layout, decor and cleanliness will contribute to those first few seconds when a buyer steps into your home for a viewing. What layouts may have worked for you while living there may not work for everyone. What you may consider spacious and tidy for your day-to-day life, a buyer may find cramped and cluttered.
Having your home professionally staged makes a huge difference in the buyer experience. Much like a professional plumber knows better than anyone how to clear a drain pipe, a professional home stager knows better than anyone how to dress up a home that will sell.
Did you know that each year, approximately 40,000 people immigrate to Canada in need of a place to call home? It’s something that not many sellers consider. So there is tremendous value in marketing your listing to an international audience of buyers who are serious buyers looking for a home exactly like yours. In addition, working with a team who markets your home internationally will cast a wider net of eager buyers looking to move to Canada.
It’s not a secret that 2022 has also been hard on many Real Estate agents. Everyone wants their clients to make a sale so they can move on with their lives. However, we have seen single agents struggle with several listings that won’t budge. They are stretched thin, trying to do the best for their clients, likely burnt out and becoming soured by this turn of the market.
This is where having a Real Estate team makes all the difference.
A single agent cannot be an expert in everything. This is why Faris Team has dedicated experts in every field, from marketing to agreements to professional photographers and videographers to professional home stagers. Our team is constantly innovating and continuing to sell homes even in a slower market because our experts have been able to dig in their heels and go full out® for our clients. Our mission is to provide the Best Real Estate Experience in the world, regardless of the market or economy.
After that, one of our team members will reach out to assist you.