What’s Your Home Selling Game Plan?

I posted a blog the day after the Toronto Argonauts victory in the 100th Grey Cup on how their win was due to having a defined game plan.  In the blog I outlined how if home buyers want to be successful in purchasing a home they too also should not venture out without a solid game plan.   In always providing fair and balanced reporting, it got me to thinking on how sellers also should establish a game plan when selling a house or condo in Toronto.

Toronto and Calgary both established at strategic game plan long before the coin flip. With a game plan both teams knew:

  1. The opponent`s individual and team strengths and weaknesses
  2. The type of game each likes to play (defensive versus offensive)
  3. Their depth of play options with a precise and practiced response
  4. The teams ability to anticipate an opponent`s play then successfully counter it
  5. How to  protect a lead position

Whether you are selling your home in any Toronto neighbourhood a winning plan is not just settling on a listing price and planting a for sale sign on the front lawn. If this is your realtor idea of a winning plan, then be prepare yourself for some heavy losses as buyers and the housing market will not be kind to you.

1. You have to do your research in familiarizing yourself with the present housing market.  Reviewing historical selling patterns within your neighbourhood as well as what’s happening in the Toronto market too.  I would review the last 12 months which should give you an accurate analysis of what the selling process is like.  Look at what has sold and what has not.  What you want to determine what were their strengths and weaknesses.

2. What strategy do you want to implement to attract the types of buyers you’re looking for?  I will share one piece of advice for sellers.   Be careful with what you post on line as savvy realtors (like me) will be scanning social media looking for a negotiating advantage…example say you post on Face book that you have already purchased another house and need to sell.

3. Put together a detailed marketing schedule of what actions will be occurring over the next 4 weeks and who is responsible for initiating it. You should be marketing on various levels and one key one is using social media. Today’s buyers are always connected and look to Twitter, You Tube and blogs to get information.

4. Once you get an offer learn as much as you can about the buyer and their agent.  Google searches and social media scans can bring some surprising results regarding a buyer’s intentions.  I did a previous blog and how some agents talk too much which  undermines their negotiating position.

5. Once both the seller and the buyer agree on an issue lock it up and move on to the next one. If you start reopening it sends out the message that you are unsure what you want.

You want to have a clear picture of the Toronto real estate market. With some careful pre-planning hopefully you will stay clear of potential landmines.