Oh Honey No. The Amazing Ways Toronto Sellers Tank Sales
April 18th, 2009 Categories: Home Buyers, Home Sellers, News Wire
There’s a lot of buzz these days about the Toronto real estate market being a buyer’s market. It’s true, the market IS favourable for buyers: plentiful inventory, price declines in many of Toronto’s neighbourhoods and near-record low interest rates gives buyers cause for optimism. And there are signs that buyers are returning to the market. However, it’s also a market of “not right now” buyers whose confidence has been terribly shaken by an economy in recession and mounting job losses.
But life goes on and houses must still be sold, no matter what’s going on in the world, so it’s not surprising that the qualified, motivated Toronto buyer is a very sought-after commodity by sellers. You could say that sellers are now in competition for buyers. What a difference a year makes!
Are today’s sellers prepared for this sea change? In what is such
a … different … market, will marketing strategies such as intelligent pricing, house staging, pre-inspections, social networking, etc., be sufficient? Are sellers prepared to switch it up? Are you ready to rumble?
Let’s find out!
Do Toronto Real Estate
Sellers Know How To Compete?
You want to get your Toronto property sold and, most importantly, keep it sold. When it comes to competing for buyers in today’s real estate market, you want to shoot the lights out, not shoot yourself in the foot. Can you do everything right when it comes to getting your house market-ready, and still end up undermining your results?
Yes, you can! Check out what some Toronto sellers are doing to cause themselves unnecessary grief. 
No, not you. You’re Lovely!
Don’t Boost The Dishwasher. What is it about used appliances that makes people throw their collective marbles to the wind? It amazes me that negotiations can fall apart over appliances. Or that it can take 5 minutes to agree to the price and a closing date, but hours to hammer out the fate of the dishwasher.
But the stunner will always be those sellers who decide to get “creative” with the chattels after an offer has been accepted. If You Know What I Mean. And I Think You Do. Okay, I mean sellers who, for whatever reason, swap out the (usually) expensive, high-end appliances for those of lesser value and believe the buyers won’t notice. Or, if they do, won’t make a fuss. Trust me, do this and yours won’t be the first deal to flirt with a refusal to close by the buyers. Or, won’t be the first deal to actually fail to close.
Honour your contract. Let them go. They’re used appliances.
Put Some Clothes On. Seriously. We have the appointment; your office has confirmed the details. We know you’re expecting us. It doesn’t matter that it’s always Naked Thursdays at your house. Some treasured traditions have to be put on hold when you’re selling a house. Put some clothes on! And just so you know: I carry my rubber band collection with me at all times, and I’m not afraid to use them. Enough said.
Don’t Refuse Appointments. You can’t sell it if buyers can’t get in to see it. 
Be as flexible as possible about appointments. Everyone understands the “not later than 8 pm” or “shift worker, only after 3 pm” instructions; that’s life and it certainly leaves a generous part of the day to show your property. However, if you make it near impossible to book appointments (not this day, not that day, not between these hours or those hours, and certainly NEVER the second Monday of the month), interest fades. I have to wonder what you think happens when the real estate agent honours all the showing restrictions and then gets the “NonConf, Not Convenient, Try Again” page. That the agent cancels all other appointments and begins a vigil at your door? Not so much. A big line goes through my copy of that listing, my buyers shrug it off and we move on to the next well-priced, nicely-presented property. Were these your buyers? Perhaps, but …
Be Gone, Be Invisible, Be QUIET. We’re off to see some properties, and the first thing my buyers will ask: Will the sellers be there? They ask because most folks aren’t all that comfortable with making small talk with strangers. And no one wants to be rushed at the front door by sellers anxious eager to give the guided tour. It really disrupts the process when potential buyers have to be … let’s face it … a captive audience to sellers who insist on sharing way too much information as they follow them through the house. And I’ve seen the “guide” go from breezy to petulant to a little bit hostile when sellers realize the buyers aren’t digging the house.
Why make potential buyers uncomfortable? And why stress yourself? If at all possible, leave the house during showings. If that’s not an option, fade away so that buyers can give your property the attention it deserves. After all, your house is the star, right? And remember that less is more, especially when it comes to conversations with buyers and their real estate agents. If you disclose your motivations or the price you’d accept, that information will be used and not to your advantage.
Be Gracious. Even If It Kills You. I know that buyers can be aggravating. Believe me. And you might have had to put up with some hard-to-take behaviour during your time on the market. 
But think twice before you burn your bridges with the people who might actually give you what you want (read: money, and lots of it). You never know who your buyers might be, nor when you might have to ask for a favour once the offer is accepted (a biggie, perhaps, like an amendment to the closing date because your move-up deal has developed “issues”). And the buyers who seemed oblivious to your not-so-subtle slings and arrows might suddenly develop great memories and a keen sense of payback. Which might mean no compassion for you, and it’s off to the Hav A Nap Motel for a little staycation while you sort out your issues. Have a great time! Send a postcard Tweet me!
Best Advice For
Toronto Sellers Is Simple
You can be the Opportunity that Toronto buyers seek. Because if you do this one thing, everything will fall into place to your benefit. Here it is:
Play It Like You Mean It. If you’re going to be in the market to sell your house, then BE IN IT. Keep your eye on the prize: to get the most money in the least amount of time. Be prepared for the inconvenience and know that if you play it right it’s only for a short while. There’s no point in spending lots of time and money to have your house staged, repairs made and upgrades completed if you’re going to refuse appointments (especially the seconds!), be elusive when your agent needs to reach you, refuse to come to the table if the initial offer is “too low”, freak out at the table and second-guess or undermine your agent. Just get it done!
Simple, right?
Toronto buyers and sellers! Are you looking for a Toronto real estate agent who knows how to play the game in today’s challenging market? Call Lauren at 416–550–6991, or send me an email.
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Great post. All true here on the Central Oregon Coast.