Blog Archives - Frank Leo

An image of Frank Leo with a house in the background and a text overlay reading "Why Choosing The Right Agent Matters"

Why Your Real Estate Agent Is So Important & How Making The Wrong Selection Can Cost You Tens Of Thousands Of Dollars!

Posted on February 12, 2019 | by getleo1 | Leave a Comment

Your choice of realtor can and will impact how long your home sits on the market & why you shouldn’t choose a realtor solely based on suggested listing price & commission fee charged alone.

There’s a right buyer out there for every home. Whether it’s a penthouse condo or a starter home, your property is a good fit for someone. So how do you make sure that it sells for a price that you are happy with and doesn’t take months or longer to sell?

Answering this question isn’t as simple as a single factor like choosing the right price. It comes down to the right approach at addressing factors like presentation, price, extensive marketing, knowing where to find the right buyer plus much more.

Your choice of which Toronto & GTA realtor to work with to sell your house is instrumental in helping your home sell quickly and for the most money. As the point-person of the home selling process, the best realtor for you will have both the experience, knowledge and marketing sytem to get your home sold fast and for top dollar value.

Choosing The Best Toronto & GTA Real Estate Agent For You

Many people selling homes in Toronto & The GTA face the question of whether it makes sense to sell privately or with a discount company.

Studies show that only a very few actually end up selling independently. Also unfortunately the vast majority end up selling for less. Statistics show us that the vast majority of Toronto & GTA home sellers will benefit from selling with an experienced real agent. Sure, the agent takes is paid a fee, but in the end you will net more money with less stress and aggravation. Also those same studies show that properties sell faster and the extra dollar value an agent will be able to attract and negotiate for the property is well worth it.

The home-selling process is a big undertaking and be complicated. Doing it right is a full-time job, so trusting a professional with what may be your largest financial asset is a prudent decision..

Before you list your home, be sure to vet your top choices of realtor thoroughly. Making sure your home won’t be sitting on the market comes down to your agent’s expertise with:

Evaluating your home’s value and setting a price
Setting the right selling strategy to attract the right buyer
Preparing the home for sale
Advertising and marketing the home to qualified buyers
Expert negotiating for the sale to get you the best price
Closing the deal and making sure the paperwork is done properly

You can review our post about choosing the best Toronto & GTA for you to get all the details about what to look for in an agent.

The Buyers’ Psychology Regarding A House That Sits On The Market

When a house isn’t selling it can seem like it’s been sitting on the market forever. And that’s just the problem from the buyer’s point of view. What’s wrong with the property.

A house can seem stagnant and unwanted quite quickly when it goes unsold for months or even weeks. The buyers will begin to perceive the house as less valuable since others don’t want it, even if it might be a good fit for them.

The psychological principle for this perception is the same one that’s behind why people follow the crowd. It’s faster and more simple to trust what others are doing than taking the risk of finding out for yourself, especially if the risk you run could be ending up with a house that’s not right for you.

The best Toronto realtors will be able to avoid your home from sliding down this slippery slope of sitting on the market. In the event that your home hasn’t sold and you are beginning to worry that it will never sell, you should defer to your realtor to revise the selling strategy to get the home sold.

If My House Has Been Sitting On The Market Does That Mean It Is Priced Too High?

If your home has been sitting on the market and your agent is revising the home-selling strategy it doesn’t necessarily mean your home isn’t priced properly. A home could even be priced too low and still not sell.

For example, a nice house that is priced low could make potential buyers think that there is some hidden problem with the house and turn them off from buying it.

It’s not about one factor, like the price, but a whole myriad of factors together that impact why your home hasn’t sold. That’s why you need a real estate agent to make a professional analysis of each aspect of your house in order to sell it for the right price.

Should I Reduce The Selling Price Of My House If It’s Been Sitting On The Market?

That what Sellers would do if they were selling privately or even some agents may suggest a price reduction. I reality you shouldn’t necessarily reduce the price of your home just because it isn’t selling.

If you started your home selling journey with a free and accurate home evaluation from a top Toronto & GTA real estate agent the listing price you agreed to set with your agents is quite likely to attract a buyer and your realtor is likely to close the sale.

However, if you find yourself concerned about your home sale it’s necessary to talk with a qualified realtor to get a realistic answer since there is no “one size fits all” approach.

If you need a free home evaluation and don’t want to worry that your home may be sitting on the market for weeks to come as you consider selling, don’t hesitate to reach out to us with your questions or concerns. Our team has been selling homes in Toronto & The GTA for over 3 decades and we have helped thousands of sellers successfully sell their homes in that time.

How Realtors Sell Properties Without Reducing The Listing Price

Experienced real estate agents take into account factors like the home’s condition, its location, and the market to arrive at a figure that will attract buyers but also net you money on the final sale. Remember that negotiations also typically take place before a sale closes, so the listing price is often different from the final sale price.

Frank Leo & Associates, for example, recently sold a property in Toronto for twice the asking price at $1 million over asking. You can read more about selling your property over asking in our post about how Frank Leo sold this particular house in Toronto.

Let’s assume you and your agent arrived at a good listing price that will attract buyers but also leave you satisfied with the sale price. The best Toronto & GTA real estate agents will use a dynamic marketing strategy that doesn’t depend on a single strategy to sell the home. A more one-dimensional home-selling approach that just depends on holding ineffective open houses, for example, doesn’t take into account that every home and every buyer is different.

Matching up interested buyers with your particular home requires more thought, strategy, and experience. If you did a good job of picking a real estate agent, chances are that your agent has been adapting his or her marketing strategy behind and will be able to address your concerns.

At Frank Leo & Associates we don’t depend on outdated selling tactics like open houses, instead opting for a more sophisticated Guaranteed Home Selling System which leverages the strengths of each property to find an ideal buyer.

If you’re are looking for insights about how to sell your home for top dollar in a timeframe that works for you don’t hesitate to contact us.

Reasons Your House May Be Sitting on The Market When Selling Your House In Toronto & The GTA

As mentioned above, there are countless potential reasons a home might be sitting on the market for longer than a seller would like.

Knowing what’s keeping a house from selling is what makes the best real estate agents, well, the best. A good realtor doesn’t just make a home appealing to buyers. He or she makes it appealing to the type of buyer which will be interested in that particular home and therefore will be willing to pay top dollar value for it.

Below you’ll find some of the most common reasons a home isn’t selling in the expected time frame. If you’re thinking of selling your home you can go over a few of these issues before you sign a listing agreement to help you gauge your agent’s plan for selling your home.

Evaluate Your Home’s Curb Appeal

You only get one shot to make a strong first impression. For most buyers, your home’s curb appeal will be that first impression whether they see it in a Toronto & GTA MLS listing, a photograph on social media, or on a real estate website.

Buyers won’t be too inclined to peruse your home interior if they don’t like the way it looks from

the outside. All of the home preparation and upgrades you can manage won’t do much if the first impression isn’t strong.

The main elements of curb appeal include the landscaping, the accents, the siding, and of course windows and doors. One of the major aspects of curb appeal which gets overlooked is the roof. It can be a major home sale deal breaker.

Repairing or replacing an old roof can cost buyers $1,000’s of dollars. That’s a cost not many buyers will want to swallow. Any issues with the roof will turn up in the pre-sale home inspection regardless, so there’s no sense trying to get around fixing a faulty roof.

You can learn more about improving your home’s curb appeal in our post about how to increase curb appeal when selling your home in Toronto & The GTA. We cover each element of curb appeal and provide all the details about how you can improve it.

Tenants Living In The Home You’re Selling in Toronto

The reason your home isn’t selling might not be the home at all. If you have tenants living at the place they could be preventing your agent from closing the sale.

Even if they are tidy and well-mannered tenants, the mere fact that someone is living in the home can be enough to turn some buyers off. When a home is staged well for a sale it looks ready to be lived in as opposed to occupied. That distinction makes a big difference.

Buyers want to see their future lives in the home, not imagine themselves in someone else home. The place needs to be inviting without having too much personality.

We’ll cover home staging in more detail later, but you and your realtor should make a decision about the tenants.

While you can’t simply evict tenants on a whim when you want to sell your home there are several options available to you – especially if you are willing to negotiate with the tenants. Having a tenant-free property isn’t only easier to sell for your realtor but it allows to show much better than a typical tenant living in the property. It simply gives your agent a blank canvas to implement their strategy.

Home Staging Needs To Be Immaculate

Home presentation is crucial. Just like curb appeal, the appearance of the home’s interior makes a strong impression that is tough to shake if it’s not positive.

If you are selling with a Toronto & GTA real estate agent they should guide you in how to create the best first impression. The primary elements of staging to keep in mind are.

Interior design
Curb appeal
Eliminate clutter
Remove personal items
Leveraging a home’s best features
Ensure floors, walls, & windows are sparkling

Every element of home preparation is important because all elements work together in synergy to make your home look its best.

The basic idea behind home staging is to let the buyer’s imagination run wild when they see the place. It should look inviting, spacious and clean.

Each of these topics could have an article of its own to cover comprehensively, but if you’re interested in learning more you can read our post about how home staging can help you avoid costly mistakes when selling your home in Toronto & The GTA.

Following Your Real Estate Agent’s Recommendations

When faced with the choice between saving money bringing the home up to shape and selling fast, most Toronto & GTA home sellers are likely to spend bit of money.

Your real estate agent might recommend that you do a few things to the home after the home evaluation.

These items can range from major, like a new roof or flooring, to more minor changes like a different colour for the walls or new carpeting.

Higher end finishes and materials make a considerable difference when you put your home on the market, especially if you are selling your home in an area with high competition. If buyers see another comparable home in the area that they’re also interested in, a small difference like granite counters or hardwood flooring could be all they need to push them into a buying decision.

If you’ve followed your real estate agents advice and made the upgrades, that decision could work in your favour.

It can be hard to justify upgrade expenses, especially since you won’t around to enjoy the upgrades, but if you have a good real estate agent that can get you top dollar value for the home you will be able to recuperate your costs and even make a profit.

There’s no definitive answer regarding which upgrades to invest in. It depends on the conditions of the house, the market in which you’re selling , and the buyers you are trying to attract. Generally speaking though, one major upgrade won’t make up for many small details which are unattractive.

Buyers can feel exasperated if there are too many small elements they don’t like but one larger upgrade can seem more manageable.

Open Houses Or Showings Can’t Be Ignored

Inviting buyers to visit the home can get tiresome, especially if there are many coming to see the home. However, instead of seeing it as a bother, consider it a positive indicator of all the interest your home is generating.

Follow your real estate agent’s advice when it comes to showings and be as accommodating as you can. You can’t reasonably expect buyers to get serious about buying a home when most of what they have to go off is second-hand information and photographs or video tours.

Our recommendation for putting up with showings if they are inconvenient for you is avoiding open houses altogether. Showing the home to buyers who have expressed interest is one thing, but there’s no need to hold public open houses.

At Frank Leo & Associates we never conduct open houses. Over nearly 30 years of selling homes in Toronto & The GTA, we have found that they are simply less effective when it comes to getting homes sold. Not doing open houses hasn’t stopped us from becoming the #1 RE/MAX Team in Canada led by the #1 Individual RE/MAX Agent in the World.

The best Toronto & GTA real estate agents will be able to sell your home for top dollar even without the use of open houses.

Selling A Home Comes Down To Having The Best Toronto & GTA Real Estate Agent Possible

For all of the trouble of getting stressed out, expending energy selling your home, or wondering if it will sit on the market forever it may be worthwhile to get help from a professional real estate agent in Toronto & The GTA.

A professional team like Frank Leo’s have the resources, experience, and methodology to effectively market your home and find a qualified buyer.

You can always count on us to answer your real estate questions or provide you with a no-obligation free home evaluation. Don’t hesitate to contact us if you’re thinking of selling your home in Toronto or The GTA and want to avoid the stress of your home sitting on the market.

Image_Of_Man_And_Woman_in_Profil_With_Text_Overlaid_Reading_Selling_Your_Home_During_Divorce

Dealing with Separation or Possible Divorce? These Steps Will Save You Money & Aggravation When Selling Your Home

Posted on January 13, 2019 | by getleo1 | Leave a Comment

Any couple who finds themselves in the unfortunate position of separating or divorcing faces a multitude of difficulties, so taking the aggravation out of handling the sale of the mutual home can be a major factor in cutting out stress. Most ex-couples have enough to worry about already without that addition of even more legal and financial costs.

Why People Sell Their Property In A Separation or Divorce Situation

Before we dive into the steps you can take to minimize aggravation from real estate while dealing with divorce or separation, it’s worth taking a moment to cover why many couples end up selling.

For most couples, it comes down to personal reasons for selling, since the Globe & Mail reported that for most couples in Toronto a separation comes with big financial consequences.

Emotional Considerations When Selling Your Home When Dealing With Separation Or Divorce

Divorce is an emotional time regardless of the reasons for the separation. These emotions can play a big role in the decision to sell the home, especially if there are years of memories in the family home where children were raised. Maybe the couple has customized the home just how they like it and neither want to leave behind all of the efforts which went into those renovations.

These sentimental attachments can go either way. They may foster attachment and leave both ex-partners wanting to stay. Conversely, they can have both ex-partners wanting to move out as soon as possible to avoid bringing up old memories. Both partner’s preferences may not match up and lead to difficulties in deciding what to do with the property.

Deciding whether you want to stay or go takes a great deal of thought and requires some honest conversation. It isn’t a decision which should be undertaken lightly, and both parties should consider not only what they think in the present but also how their feelings may change in the future.

Living in the home you shared during your marriage may not be what you thought it would be after the divorce.

Financial Considerations When Selling Your Home After Divorce

When it comes to selling your home after divorce, one of the greatest financial considerations is not only who bought the house buy who will pay for it. Assuming you bought the house together with your ex-spouse it’s likely you were working together to make payments. When people buy a house together, they typically buy a house which requires both partners’ salaries to pay for it.

Since you are presumably losing half of the household income following the divorce, it’s not hard to see how paying the mortgage, property taxes, insurance, and the maintenance costs can become daunting, if not completely impossible. That’s not saying anything about the time and energy a homeowner must invest into maintaining and managing the house properly.

Stay or Separate For The Sale?

Staying together to sell is not always an option, particularly if the separation is not on the best terms. Remaining a married couple over the course of the home sale is too much stress for some to bear if they simply want to get the separation over with.

Of course getting your home sold in the right time frame for top dollar value can be made possible with the help of an experienced real estate agent. Starting with a home evaluation is a good place to start because it will help you determine how much you can expect to get for the home sale. Working with an experienced Realtor will help you navigate the best way to get the most money out of the sale of your property. It is very important that you proceed wisely since it is typically the largest asset for most and since you will be on one salary going forward there can be many factors eroding your bottom line.

Now that we’ve covered the general considerations you should be aware of when you are selling your property after or during a divorce or separation we can get into the steps of the home-selling process and how to handle them to minimize aggravation and maximize profit.

Step 1: Understand the Law

Before you hire a Toronto & GTA real estate agent or get a home evaluation, consider learning the laws separation and divorce.

Regardless of the circumstances of your divorce or separation, whether amicable or not, understanding the divorce law is sure to leave everyone better off. As an Ontario Real Estate Team we will cover the Ontario Divorce Laws, but readers outside of the Province of Ontario should do their due diligence and research the local separation laws in their locale.

At the very least, understanding the laws will make the process of selling your home go more smoothly and save potential legal fees. At worst, it will give you an advantage when it comes time to get a lawyer involved if you have a basic understanding of where you stand in the eyes of the law.

Real Estate and Divorce Law in Ontario

In Ontario, both parties have an equal right to stay in the home during a divorce, at least until a separation agreement or other settlement is made.

One of the questions which divorce couples ask regarding their shared real estate is whether one can change the locks on the other. Under current Ontario law and the Family Law Act, the answer is no, unless there are special circumstances:

If you have a court order which establishes exclusive possession of the matrimonial home pending a family trial, you can take exclusive ownership until the trial.
The two parties have made a separation agreement which details which spouse has exclusive ownership.

In most cases, both spouses have equal rights to occupy the property until they reach a resolution about the possession of the home, it’s rarely easy for couples to continue living together following a separation.

However, the Globe & Mail reports that regardless of the difficulty posed by a cohabitation situation post divorce, some couples will, in fact, continue living together. They often end up occupying different parts of the house but continue to live together either not to relinquish something to the ex-partner or because they would otherwise be unable to afford to buy a house in Toronto.

In many cases, a great Toronto & GTA real estate agent who has the experience and market insights to provide truly personalized service can help one spouse find the house that’s right for them.

Step 2: Make Arrangements Before You Separate

The old adage that an ounce of prevention is worth a pound of cure rings true in the case of avoiding aggravation when selling your home after divorce.

There are a few measures one can take before separating or getting a divorce to reduce aggravation during the home sale. The most impactful is a prenuptial agreement which clearly outlines who will be entitled to what should the marriage dissolve. This type of agreement enables the homeowner(s) to go straight to choosing the best Toronto & GTA realtor for them.

When you are getting separated and don’t have a pre-existing agreement in place you can opt for a separation agreement. A separation agreement is a legally binding contract which details who gets what when it comes to different marital assets.

Step 3: Answer Important Questions When It’s Time to Sell Your Home During A Divorce

There are countless questions to answer regarding the home sale alone when you are separating, so having answers to the biggest ones ahead of time can save misunderstandings and conflict later on.

It is advisable to prepare for these decisions by consulting with your divorce attorney. Your divorce attorney will help you determine where you stand with regard to the law and how to handle the negotiations to keep your priorities in line. Be sure to consult your attorney before the final decision.

The home selling process is long and complex even with a good real estate agent. You can use our Toronto home seller’s checklist to keep yourself organized and maximize your chances of selling for a great price in the timeframe that works for you.

Decide Who Gets What

Determining how to split up the proceeds from the sale of your home after divorce or separation is a personal decision that has no right answer. The best way to avoid aggravation is to prepare by reaching a separation agreement which details how the real estate will be divided. Hire a lawyer if you want legal guidance or assistance determining what you are due.

Couples who aren’t on the best terms can benefit from getting a mediator to help them with communications and drafting the document. A mediator can be a friend or family member but there are professional options available as well. Knowing when to get a mediator is a personal decision.

If you need to know how much potential profit you’re looking at from selling your home post divorce you can get a free home evaluation to find out what your home in Toronto is worth.

Will Someone Continue Living In The Home?

Separated couples who live in large cities like Toronto may have a difficult time relocating after the separation. With many couples depending on the combined household income to pay the mortgage and maintenance cost, some decide to continue cohabitating instead of downsizing their living situation.

Deciding who claims which room is a prudent course of action for couples cohabitating after separation. In cases where one person stays in the home and the other leaves it’s important to outline specific details of ownership in the separation agreement.

Does The House Need Work Before It Is Put On The Market?

Getting top dollar value for your home sale is important regardless of whether you are separated. Making improvements, renovations, updates, or simply preparing your home for sale often takes an investment.

Who will handle the bill? Who will decide which changes to make and decide how they will be carried out? Your real estate agent may be able to guide you when it comes to renovations and the best way to carry them out, but the decisions will be up to you and your ex-spouse.

Which Party Will Be Responsible For The Sale of The Home?

You may find that for purposes of convenience it might be helpful to outline each person’s responsibilities, even if they are shared equally. The arrangement you reach really depends on your personal circumstances.

Couples who are parting amicably may trust all responsibility to one of the partners while others aren’t comfortable unless they are a part of every decision and interaction. If you are concerned with your involvement you can consult your lawyer or outline your demands in the separation agreement.

Step 4: Choosing A Real Estate Agent

Choosing a real estate agent to sell your home after divorce is an important consideration regardless of the agreement you reach. A good real estate agent is more likely to get you top dollar value for the home and leave more profit to divide regardless of the reason for the sale.

Working with a real estate agent also offers the added advantage of having an impartial 3rd party working on your behalf. That way any personal tensions between you and your soon-to-be ex spouse will stay personal and not interfere with business.

All Ontario real estate agents are required to do what is in their clients’ best interest as part of their Code of Ethics. This legal requirement is taken seriously and enforced by the Real Estate Council of Ontario (R.E.C.O.). This requirement is consistent throughout most jurisdictions so you can stay at ease knowing your real estate transaction is being handled by an impartial party.

An experienced real estate agent can also take the stress out of selling because an agent handles all aspects of the sales process. Everything from evaluating the value of the home to considering offers and providing guidance, a good Toronto & GTA real estate agent will take on a great deal of additional work and stress which can come with selling a home. You can trust your agent’s advice and concentrate on the demands of your separation.

When it comes time to make a joint decision about the home sale with your spouse, your real estate agent can also serve as an impartial mediator who takes the personal issues out of what is fundamentally a business decision. You and your ex-spouse might have different ideas about selling and an agent can ground your discussion in experience and market insights.

If you are considering selling your home in Toronto & The GTA Frank Leo & Associates are available to answer your real estate questions. You can contact us or take advantage of our free home evaluation at any time. We’ve been serving the Toronto & GTA real estate market for over 3 decades and have helped 1,000’s of people buy and sell homes in the region.

Step 5: Agreeing To A Selling Price

Once you’ve settled on the details, reached an agreement about who will handle the real estate sale, and have a real estate agent advertising your home you can start the negotiations about accepting offers.

If your real estate agent has evaluated your home’s value accurately you most likely already have an idea of how much you will get for your home. The difficulty may arrive when you must work together with the ex-spouse to settle on a selling price.

Most separated couples face the dilemma of wanting to sell quickly to minimize interaction without taking a loss for the property. You may find yourself in a situation where one person wants to accept a price and the other wants to hold out.

The additional financial stress of a divorce or separation can add additional pressure on those who may be depending on the money from the home sale to sustain the cost of the divorce.

So how do separated couples overcome these challenges and agree on a selling price that makes everyone happy? Working with your real estate agent is a good place to start.

An experienced realtor will be able to help you sell your property for a higher price and leave everyone satisfied with the result. Frank Leo & Associates, for example, have helped sell real estate in Toronto for over $1 million over the asking price.

Evaluating & Negotiation The Offer On Your Home

Home buyers who are prepared to buy your home will make a written offer to purchase the home via your real estate agent. At this point your real estate agent will review the offer with you and walk you through the contract in order to decide whether to take it.

If the price meets your asking price or there are competing offers which push the price above asking price, everyone will be happy. It’s typically when the offers don’t meet your minimum requirements that difficulties begin.

Regardless what starts the disagreement about accepting & negotiating an offer, there are a few ways to overcome the challenge. The first and most simple option is to lean on your real estate agent as the voice of reason. Your real estate agent’s recommendation may be enough to get your spouse to accept the buyer’s offer.

Passing on the offer in hopes of getting a better one or investing in improvements to boost appeal are also both viable options, within reason. The divorce or separation might make these options less appealing but they can work out in some cases.

The hardest situation to overcome is when an ex-spouse is unreasonably selective about accepting offers or negotiating the price. If difficulties persist and you or your agent suspect they might jeopardize the sale of your home it may be worth considering a professional mediator or legal assistance.

Step 6: Splitting The Profit From The Home Sale

If you’ve already reached a separation agreement the matter of splitting the profit from a house you’ve sold during divorce will all be prearranged. Deciding how to divide the profit well before you sell your home is the best course of action to avoid aggravation. It may also help you maximize income from your home sale by allowing everyone involved in the home sale to concentrate on selling the home.

Important Final Word Of Wisdom

Of course, in reality, most couples who sell a home after or during a divorce or separation will not have a predetermined plan in place. Reaching an agreement among themselves is the option which leaves the most money in the pockets of both parties. It can be very difficult emotionally during this stressful time. It is important that all parties understand how the law works but it is typically divided equally. If the couple is having disagreements it is wise that they agree to get the property sold for the most money amicably and have the funds held in trust until they can agree as to how they should be divided. The reason for this suggestion is that it will avoid the potential for losing many thousands fighting while bills mount. If there is a disagreement as to who will pay the taxes, mortgage, repairs and any other costs associated with the property? This will lead to overdue payments, interest and penalty charges and even may affect your credit rating. These consequences can avoided by agreeing to do everthing to get the property sold asap and have more money held in trust for you once you decide on how it should be divided. When this isn’t possible it may be necessary to get lawyers involved. Just be aware that the amount you will be left with could be substantially less.

Each partner’s financial situation and the details of the divorce may play a role in how much equity they are awarded. One thing which is certain is that the cost of settling in court will eat into the profit from the sale of the home quite quickly.

Contact us today or get started working with the Frank Leo & Associates team by signing up for a FREE, no-obligation property evaluation.

Toronto_city_hall_with_Text_overlayed_which_reads_Finding_The_Best_Real_Estate_Agent_in_Toronto

Finding The Best Real Estate Agent in Toronto & the GTA to Buy or Sell Property

Posted on January 13, 2019 | by getleo1 | Leave a Comment

There’s no shortage of “the best Toronto & GTA realtors to sell or buy.” At least that’s what they’d have you believe. Although there are plenty of realtors in Toronto & The GTA contending to be the best for buying or selling a home in Toronto & GTA, there can only be one, well, #1.

There’s no doubt that there are some great realtors out there, but the title of the best realtor in Toronto & the GTA can only go to the real estate agent with not only the numbers but the experience to back up the claim.

Frank Leo has been serving the Toronto & GTA real estate market for 3 decades, helping 1000’s of home buyers and sellers make their real estate dreams come true to achieve the title of #1 Individual RE/MAX Agent in the World. Frank Leo has also led his team to achieve the rank of #1 RE/MAX Team in Canada.

So what sets Frank Leo apart from the rest of the “best” realtors out there? It comes down to his specialized approach to buying and selling Toronto & GTA real estate in everything from client service to knowledge of the market.

The Best Realtor in Toronto & The GTA Knows The Toronto & GTA Real Estate Market

The best client service & sales techniques won’t do a client much good without the knowledge experience, marketing and right strategy. Understanding the ins and outs of the market is indispensable when it comes to becoming the best Toronto & GTA realtor.

Frank’s intimate understanding of the Toronto & GTA real estate market coupled with his knowledge of economics has enabled him to create a unique all encompassing marketing system the provides his clients with proven results.

Frank Leo has always had an ambitious personality and knew he would devote himself totally to his business pursuits, but it wasn’t until Frank attended university that he settled on real estate as the industry into which he would sink all of his efforts.

After majoring in economics in university, he devoted his time entirely to understanding the intricacies of Toronto real estate. Frank endeavored to learn as much as possible about the industry and spent endless hours attending seminars, courses, and personal research.

Standing Out In The Toronto & GTA Real Estate Market

If Frank learned one thing during his studies, it was that doing the same thing as others were doing won’t make you the best. He needed to do it better.

Frank did so by designing and implementing a Guaranteed Home Selling System. His marketing system not only creates unparalleled exposure for clients properties but marketing which attracts qualified buyers. Instead of using traditional ineffective marketing techniques, Frank sells without using outdated and intrusive open houses and gives his clients a competitive edge.

Taking Time To Be The Best

A winning selling system doesn’t happen overnight. It takes an incredible amount of time, energy and money to get right. For Frank that meant a great financial investment as well as years of time to refine and implement it.

Since he started working in the real estate market during the recession of 1990, Frank has been refining the process and strategy which has made him the #1 realtor in Toronto & the GTA by units of listings sold. It the system has its roots in a time when the market reached its worst performance since the great depression which started in October 1929. Working in such a hard time for real estate require both perseverance and the right strategy. It served as a personal challenge and the proving ground for Frank’s home selling system.

Becoming The Best Toronto & GTA Realtor To Buy Or Sell

It was during this challenging episode of his real estate career during which Frank Leo earned the nickname which has stuck with him until today – “The Lion.” His tenacity and persistence in the quest to create a superior marketing system which provides clients with an edge were drawing attention in the industry and among clients.

Frank took notice of the nickname and took advantage of it as a marketing technique by incorporating it into the marketing for his real estate business. In the same way that Frank created a unique, personalized strategy for reaching the #1 spot as a RE/MAX agent, Frank individualizes his approach to selling.

Each individual client which Frank Leo & Associates work with get an individualized strategy and plan because each buyer and seller are different. Not every house will appeal to every buyer, so the marketing system Frank Leo & Associates use targets qualified buyers who are likely to be interested in a specific house. The team starts with a free comprehensive home evaluation and develops a plan and strategy from that to proceed to advertise and promote the property based on its specific and unique features. This attention to detail is what is needed to get your property to sell for top dollar.

If you are in the market for the best Toronto & GTA real estate agent to buy or sell remember you can contact Frank Leo & Associates at any time. Our Toronto & GTA real estate team has helped 1,000’s of Toronto & GTA home buyers and sellers achieve their real estate dreams.

The Best Real Estate Agent Can Lead The Best Team

Becoming the #1 Individual RE/MAX real estate agent in the world is certainly an achievement, but there is only so much one person can accomplish for themselves and for clients. That’s why Frank set his sights on building the best real estate team in Toronto & The GTA early on. By sharing his proprietary marketing system and market insights with the top real estate talent, Frank Leo & Associates could help even more people in the Toronto & GTA region find the best solution to their real estate needs.

With this objective in mind, Frank joined RE/MAX West Realty Inc. in 1993 and started putting his team together. The team had humble beginnings with just a professional assistant, administrative manager, and a marketing coordinator to optimize operations and ensure there were no shortcomings when it came to client services.

By 1995, Frank had his team in place and swept the RE/MAX West Awards. That year Frank Leo took the #1 Spot Among all RE/MAX West offices. Throughout the years Frank Leo & Associates have been recognized as among the best in the business through countless awards and distinctions including the Circle of Legends and the highly prestigious Luminary of Distinction Award. Even earning him the title of not only the #1 realtor in Toronto & The GTA to buy and sell but the #1 Individual RE/MAX Agent in all of the world.

What really matters are the results for the clients. Frank’s philosophy is to treat everyone’s home as their castle and to put yourself in their shoes to do what is best for the client. This way the client will benefit from all that learned and developed over 30 years. A strong commitment and dedication to his clients make Frank Leo & Associates deliver great service and the best results possible.

Going The Extra Mile

Most people looking for the best Toronto real estate agent for them are looking for someone committed and capable with a proven track record – regardless of whether they are buying or selling.

The truth is that there are plenty of competent real estate agents out there who know their market. Unfortunately for the average person who doesn’t know that the average realtor only sold only 1.5 homes in 2018 it is can be a difficult process to find the best Toronto real estate agent to help them. It’s simple if you are not selling many properties you won’t have the funds to extensively market the property to get the best results for the clients. It is not that the realtor is a bad person but if they are not earning enough to feed their family how can they realistically do what is needed to do the marketing that is truly needed to get the best results? Marketing takes the knowledge and experience to create a proper strategy but most importantly money and a large investment at that to do what is needed in this big city. Many agents have no choice but to focus on trying to pay their bills and simply can’t make the required investment.

For example, many agents advertise the open house as a marketing tactic which will attract buyers and help sell the home for a good price. What they don’t tell the seller is that the open house has essentially zero cost and really benefits the real estate agent more than the seller because they are able to potentially meet new clients. Since the open house is reaching people in the neighbourhood and people that just happen to pass by. Of course we all know that buyers can be local (from all over Toronto & the GTA) ,national and even international. Is it not important to reach these potential buyers? If you do not reach all the potential buyers for your property are you going to get the highest and best price?

In fact, according to the National Association of Realtors, it’s rare that a buyer bought a house they found out about it from a lawn sign or open house that they would not have otherwise made an appointment to see anyway. In reality, you can get top dollar for your home without an ineffective open house if you have an agent that has a proven marketing system. Most agents hold open houses to appease the sellers and with the hopes of picking up a buyer lead.

Innovative Marketing Does More For The Client

Like other traditional real estate marketing, open houses have been done for so long that agents can just say that they are “tried and true” methods. What sets the best Toronto realtor aside is not hanging on to old, outdated marketing tactics that do not work in 2018 to get a home sold.

Instead, innovative realtors like Frank Leo & Associates take advantage of the traditional advertising methods plus the latest technology and social media to reach qualified buyers who are more interested in your home & if they are the right (best) buyer are likely to buy for the highest price. In fact, Frank’s proprietary approach to selling leverages the power of a multi-million dollar marketing operation which runs 24/7 to get sellers’ home sold for top dollars and faster.

This willingness to invest the extra time and spend the incredible amount of marketing dollars to get the best results posssible for his clients is what makes an agent the best Toronto & GTA real estate agent for buying & selling homes.

The Right Support Makes All The Difference

A real estate agent needs more than just determination, skills, & experience to make a difference for his or her clients. All the dedication in the world won’t go far without the right support team. Although it requires a financial investment, the best Toronto & GTA real estate agent will have a support team to handle all the essential aspects of the business more efficiently and to provide the highest level of service.

Clients of Frank Leo & Associates get the world class service which Frank Leo & Associates offers because of the excellent support staff on the team. Our agents can get results because the amazing support staff will handle the day-to-day operations and this allow our agents to concentrate on delivering top results.

The Best Toronto & GTA Realtor Never Stops Working Hard To For The Clients

For Frank Leo & Associates, it is never good enough because the world is constantly changing and we must always be improving to provide the best possible real estate service to our clients..

Regardless of how high quality the service which makes Frank Leo the #1 Toronto & GTA Realtor for selling is, there is always room for improvement. No matter how many sales, awards, or satisfied clients Frank gets he won’t stop improving. That perseverance and thirst for improvement are what really makes someone the best Toronto & GTA realtor for buying and selling.

Each new client is another opportunity to demonstrate how much we care. Whether it’s investing in more marketing, technology, hiring more talented professionals, or learning about the Toronto & GTA real estate market, the hand-picked real estate team is constantly working to stay ahead of the curve for the client’s benefit.

You Don’t Have To Be A Big Shot To Work With The Best Toronto & GTA Realtor

Frank Leo & Associates are proud to serve all of their clients in the Toronto & GTA community – from first-time homebuyers looking find a new first home, for a growing family or for the seasoned investor. At Frank Leo & Associates we firmly believe that top quality real estate services should be available to everyone.

We carry our commitment through by offering a free home evaluation and our total service guarantee in writing. You can get a free home evaluation from the #1 Individual RE/MAX Agent in the World, right now for free.

You can also reach out to contact us at any time with your real estate questions. Of course, you can also access any of our resources to aid you in your real estate endeavours at your convenience:

The_Facade_of_A_House_With_text_overlaid_reading_how_to_engance_curb_appeal_when_selling

How To Enhance Your Home’s Curb Appeal When You’re Selling Your Home in Toronto

Posted on January 13, 2019 | by getleo1 | Leave a Comment

Since your home only gets one chance to make a first impression that will make potential buyer’s say, “I want to call that place home,” nailing your home’s curb appeal is at the top of mind for many Toronto & GTA home sellers.

Most potential homebuyers are going to see your home’s facade first – whether it’s in photography, from the street, or the Toronto & GTA MLS listings – so sprucing up the exterior is the best place to start when staging your home for sale in Toronto or The GTA.

In fact, an analysis of the Real Estate Staging Association found that homes which were properly presented when they were put on the market were likely to sell 79% faster than homes which weren’t staged.

Prepare Your Home For Buyers, Not For Open Houses

Open houses don’t do much to sell homes. They simply aren’t as effective at getting your home sold for a great price as more sophisticated forms of real estate advertising. Many agents hold open houses to try and find potential clients not really expecting to sell the property.

The best Toronto & GTA real estate agents for selling homes will use their own proprietary marketing methods to reach qualified buyers who are likely to be interested in a given home.

Instead of preparing for the purposes of open houses, you and your real estate agent will do far better to prepare your home’s exterior and interior in a way that maximizes the home’s appeal and your chances of getting top dollar value.

Frank Leo & Associates use this “no-open-houses” approach and it’s made us the #1 RE/MAX Team in Canada led by the #1 Individual RE/MAX agent in the world.

How To Improve Curb Appeal When Selling Your Home in Toronto or The GTA

Before buyers enter your property they have already formed an opinion. If the initial perception is positive it can make the sale or even help you get more than asking price for the home.

If you are working with a Toronto/GTA real estate agent it’s best to start by strategizing together about how to best prepare your home and what are the costs if any.

Start With Any Major Repairs

Any repairs or glaring problems like broken eavestroughs or cracked walls and siding should be tackled immediately as they could affect the home’s viability on the market.

The most prominent features of a home’s exterior which may need repairs include:

The roof
Eavestroughs
Siding
Windows & doors
Driveway/garage
Porches or decks

If you are handy and have trades experience yourself there’s no reason you can’t handle some of the repairs yourself, provided your able to do a great job. You can ask your real estate agent for a recommendation if you want to hire a contractor to do the job.

Bear in mind that your home will have to undergo an inspection before the sale closes so any major issues which aren’t immediately visible must be addressed as well. Handling them before bringing buyers to look at the home sets the precedent as honest and inspires confidence in the rest of the home.

You can use our Complete Toronto & GTA Home Seller’s Checklist to keep track of all the work that needs to be done at each step of the home-selling process.

Give The Home A Makeover

A little work can go a long way when it comes to making your home look its best. Small accents like the colour, quality, and condition of the paint and other finishes collectively make a big impression on potential buyers.

Giving the home a makeover is more a question of making sure all of the aesthetic qualities are in pristine condition than redesigning the facade.

Start With The Paint

Is all of the paint fresh and consistent? Any flaking or cracked paint can be a major turnoff. It makes the house look as though it isn’t well cared for and indicate that other aspects of the home haven’t been well maintained.

Although it doesn’t stand in for making more significant repairs, you would be surprised how effective a new coat of paint can be at improving a home’s appeal.

Home sellers who have a higher budget can explore other home-improvements like window trim or a garage door, but the best place to start is with the paint.

Landscaping Is Important

You can have the most breathtaking house on the block, but if the surrounding landscaping is underdone or non-existent it will detract from the home’s appeal.

Glaring issues like patchy grass or dead weeds should be addressed first. As long as the landscape looks well-cared for it won’t detract from the appeal of the home. The landscaping doesn’t need to be fancy to help get the home sold.

It’s more important to have consistent maintenance for homes with more elaborate landscaping.

If you are working with a bigger budget it may be worthwhile to hire some professional landscapers to do some touch-ups on the home’s landscape to make sure the home is looking its best.

Consistency Is Key

Keep in mind that all of your property’s features must work together visually. Disjointed styles or colours can give the home an uncanny appearance and turn off buyers even if they can’t place their fingers on exactly why.

For example, a striking bright colour on a home which has a predominantly darker palette draws attention in the right way. Similarly, a home which is designed with an understated style won’t benefit from a large and ornate new front door.

Keep it simple, consistent, and consult your real estate agent before making final aesthetic staging decisions. The best Toronto & GTA real estate agents offer complimentary home preparation consultation services as part of their work, so don’t be afraid to ask.

More Than A Pretty Face

Remember that curb appeal doesn’t just come down to your home’s appearance. Different features of the home which figure prominently can show buyers that your home is energy-efficient and make it seem like a better investment. If they see modern, high-efficiency windows they are more likely to have a positive perception of the house than if the windows are older or worn out.

You also shouldn’t ignore the backyard and sides of the house. Serious buyers will want to see everything your home has to offer looking its best.

Working With The Best Toronto & GTA Real Estate Agents When Improving Your Home’s Curb Appeal

Thinking of selling your home in Toronto & The GTA? Frank Leo & Associates have helped 1000’s of homeowners in the area sell their homes for top dollar value. We start with a free confidential home evaluation to give you an idea of how much your home could be worth on the market then maximize the home’s appeal to get you more for your property.

You can contact us at any time with your real estate questions.

An_image_of_two_Peope_discussing_a_contract_about_What_to_do_when_your_house_listing_expires

Has Your Toronto or GTA Home Listing Expired & Now You’re Getting Realtors Calling You & Knocking on Your Door?

Posted on December 28, 2018 | by getleo1 | Leave a Comment

When you put your home on the market with a real estate broker you give your agent permission to create a listing for the property on a Multiple Listing Service (MLS). The listing contract you have with the agent gives them exclusive rights to sell your property for the period of time outlined in the contract.

If your contract expires agents will want a shot at representing you and selling your property, but did you know that this solicitation is not only unethical but also against RECO (Real Estate Council of Ontario) Guidelines just like the DO NOT CALL LIST. If you report these realtors they will get fined & reprimanded. The RECO exists to protect you and public interest in order to keep the industry fair for everyone.

All real estate professionals must abide by the regulations set out in the Real Estate and Business Brokers Act (2002) in order to operate in Ontario. RECO is the regulatory body which oversees real estate operations and Ontario to ensure they are up to the legal standard. If an agent does not abide by these rules, they will face consequences ranging from a warning to expulsion and criminal charges.

RECO receives approximately 2,000 complaints annually and each complaint helps keep the industry safer for people selling their home. If you should find yourself in the unfortunate situation of having an experience of an agent who breaks the regulations, you can get all the information you need to know about filing a complaint with RECO here. You can use this link to file the complaint.

What If A Real Estate Agent Breaks The RECO Guidelines By Soliciting An Expired Listing?

Since Toronto & GTA Multiple Listing Service (MLS) Listings are publicly visible, an agent might contact you hoping to sell the property for you.

However, under no circumstances are realtors allowed to contact you after your listing expires unless you explicitly authorize them to do so. If they solicit you they are breaking the rules. Under no circumstances should anyone contact you to sell your listing expires. They are either registered under REBBA and breaking the RECO regulations or not registered. If the later is true, they are operating illegally since very real estate professional in Ontario must be registered under the REEBA.

The Reason A Real Estate Agent Is Not Allowed To Contact You If Your Home Listing Expires

When someone solicits you to sell your home in Toronto or The GTA, there’s a good chance you have no idea who they are. Since selling your home for top-dollar value in a timeframe you agree on is a challenge depending on the agent, the market conditions, the listing, and many other factors, picking the right real estate agent for you is essential to a successful sale.

The RECO guidelines are in place to protect home sellers from being targeted by predatory agents who take advantage of someone’s desperation to get the listing and make a sale, even if it isn’t the seller’s best option. When your listing sits on the market unsold for a long period of time it can be discouraging. You may start doubting whether you’ll be able to sell at all never mind thinking about getting top dollar from the sale and settle for less. You need a proper strategy for your particular property and home evaluation to make sure that you sell and get the best possible results.

An agent could take advantage of the situation and contact you in your time of despair, which could result in you making a decision without doing your proper investigations and inquiries. This could ultimately result in selling your property for far less than the home is worth. Although the agent would earn less on the sale if the house sells for less, it may be easy money since he or she doesn’t have to invest time and money into marketing the house. Selling a home in Toronto for the best price takes a great deal of investment of time, resources, and knowledge. Selling for below market value makes the job much easier. Savvy buyers or investors will naturally be attracted by the price but since the lack of advertising will not be reaching the largest pool of potential buyers, they can get a deal at your expense. Also this will minimizing the amount of work the agent needs to do and require little or no advertising budget or expense.

How To Avoid Getting Contacted By Real Estate Agents Who Want To Sell Your Expired Home Listing

To minimize the chances of having agents solicit your expire listing, you can ask the agent you listed with to make you check off that the box that states to not be contacted if the property expires. This now will protect you from being solicited from unscrupulous realtors. If anyone does contact you directly they will be in breach of the RECO rules and subject to penalties..

What You Should Do If Your Real Estate Listing Has Expired

Obviously no one expects to sign a listing contract with an agent and the property not be sold. When offers don’t appear or you receive low-ball offers that are not acceptable it can be tremendously frustrating.

The first thing to consider when your listing expires is that your official relationship with the real estate agent is more or less over. At this point, you will have options. You can decide not to sell or can to do some research to find an agent to determine why the home isn’t selling and provide you with a solution to get it sold with the best possible results. Each sale is different, so determining why the home didn’t sell can be a challenge for someone with inexperience.

If you have any further questions about selling your home in Toronto & the GTA remember that you can always contact us to get answers and take advantage of our real estate resources.

How To Find The Right Realtor To Sell Your House In Toronto Or The GTA

Finding the right realtor to sell your house in Toronto or the GTA doesn’t have to be difficult. You should be selective and do research. Remember history repeats itself. It’s not by accident that the same realtors keep having success in selling more and more home while other agents have trouble selling any properties at all. Before you reach out and contact a real estate agent at least you have done some research or received a recommendation and are now knowing who is coming to meet with you. You are in control and can ask the appropriate questions to proceed with confidence.

For most people, their home is the largest investment and one of the most important financial decision of their lifetimes. Don’t leave it to chance? Seek out an agent you trust who has a proven track record. Interview them and ask what their plan is to sell your property and how they will maximize your profit from the home sale. Frank Leo & Associates, for example, employ a Guaranteed Home Selling System developed by Frank and his team over 3 decades helping people buy and sell homes all over The GTA.

Most agents offer a free home evaluation but the evaluation is only as good as the person’s ability and experience providing it. You need to know much more than just price and the fee charged. Anyone can throw out numbers at you. The most important question you should ask any realtor is “ What will you do to maximize the net dollars I receive from the sale of my home”. It is also very important to follow the money spent or invested to sell your property. It probably easy to realize that it costs nothing to do nothing. To get the best results in any industry you need to have the best professional with the best tools working for you. This will help you attain the best results. Would you want any surgeon to perform heart surgery on you? If you were mistakenly charged with murder would you want just any lawyer representing you? Of course not, considering that you home is one of your largest investments wouldn’t you want the best possible agent representation for you.

Interview Real Estate Agents

Interview the agents you are interested in and make sure they can provide you with the level of service, expertise, and marketing you need to maximize your results. Ask them tough questions. Remember that a good agent will definitely have an answer and solution.

Look for an agent who’s willing to invest time and money into selling your property instead of passively waiting for buyers to stumble onto your property. Get an agent that does things differently and is progressive and doesn’t just rely on old traditional methods. For example, open houses are a proven ineffective method that can benefit real estate agents more than home sellers.

If you are in a situation where you need a reputable real estate team with a proven track record. Don’t hesitate to contact us with your Toronto & GTA real estate questions. A good agent will help you perpare your home for sale in Toronto, provide you with a free home evaluation and plan of action to give you the peace of mind knowing your home will be sold with the best possible results.

Find out more about more about your rights as a home seller in Ontario by contacting RECO and making sure you hire a reputable agent to represent you.

The Difference Between A Withdrawn (Suspended) Listing vs. An Expired Listing vs Cancelled (Terminated) Listing

A withdrawn (suspended) listing has been withdrawn from a Multiple Listing Service but is still represented by a real estate agent. Even if your listing is withdrawn your contract with the listing agent remains intact. An expired listing is also withdrawn from the MLS but the contact between the agent & seller is no longer intact. Also a cancelled listing before the expiry date will also make the contact between the agent & seller is no longer intact

Keep in mind the difference between a withdrawn listing, an expired listing and a cancelled. Real estate agents are not allowed to solicit your business regardless of whether your listing is withdrawn, expired or cancelled, but it’s helpful to understand the difference nonetheless.

How To Avoid Having An Expired Listing

Most people, if given the opportunity, would opt to avoid having their listing expire. Home sellers place their properties on the market to, well, sell them. Fortunately there is a way to guarantee your listing won’t expire.

It’s called the Guaranteed Home Selling System. Offered by Frank Leo & Associates, it’s exactly what it sounds like. Frank Leo & Associates will sell your house for a price you agree to and in a the timeframe that works for you – 100% guaranteed. We use a multi-million dollar marketing operation working around the clock to find a qualified buyer for every property. Frank & his team have developed this system over 3 decades selling homes in Toronto & The GTA.

In fact, if we don’t find the right buyer for your home we will buy the home ourselves. That’s how confident we are about selling your property. You can contact us any time to find out more about selling your home in Toronto or just to ask any real estate questions you might have.

An_image_of_someone_filling_out_a_home_seller's_checklist_with_a_text_Overlay_reading_The_Complete_Home_Seller's_Checklist

Home Seller’s Checklist: What You Should Take Care of Before Selling Your Home in Toronto or The GTA

Posted on November 30, 2018 | by getleo1 | Leave a Comment

Selling your home in Toronto or The GTA requires planning, organization, and more work than many people realize. This home seller’s checklist will help you keep track of all the tasks that need to be done when selling your home in Toronto or The GTA.

To deal with the workload and ensure everything runs smoothly for the buyer, seller, and any intermediaries, many people chose to hire a real estate professional – but whether you are working with a real estate agent or not, our home seller’s checklist will help you get acquainted with what needs to be done.

If you’re selling with an agent, it still helps to know what needs to be done and when. Although a good real estate agent has processes in place and covers all of the necessary tasks for you, being aware of what’s going on can only help.

This checklist will help you maximize your chances of getting the best value when selling your home. Understanding the checklist will allow you to help your real estate agent highlight your home’s strengths on the market.

Your knowledge of the house combined with your agent’s understanding of real estate markets, preparing your home for sale, and marketing is a combination for success.

Home Seller’s Checklist Categories

We break our checklist down into several sections. Segmenting everything helps keep your process organized, although there may be some overlap between the sections.

The primary categories on this list are:

Documents
Before Listing
Home Improvements
After Listing
Depersonalizing
Outside Your Home
Your Home’s Interior
Air Quality/Pets
Special Considerations

You may already have a firm handle on many of the sections on this list. If so, you can still skip through the different sections to find the information you haven’t considered or haven’t done yet.

At the very least you’ll have double checked all of the consideration you should take into account when selling your home in Toronto or The GTA.

Home Seller’s Checklist Tasks – Keeping Track of Documents Before You Sell Your Home in Toronto

Selling a home takes paperwork. Having these documents identified and organized, whether that’s in hard copy or digital form, will get you through the home selling process much faster.

Keep a list detailing each document and its status. Since some of these documents might be with your attorney or real estate agent for security, it can be helpful to make notes about where each document is kept. In the event you can’t locate a document this list will be indispensable.

For hard copies, create folders and label them accordingly. Keep them in a secure place. Below you’ll find the main real estate documents you’ll need to sell a house:

◽ Do you have your home’s original sales contract complete with the purchase price?

◽ The deed to your home

◽ Any home surveys you’ve had done (professional inspection reports)

◽ Your professional home appraisal (when you bought the house and the current home evaluation)

◽ Receipts from your property tax

◽ Completed renovation contracts or documentation of home improvements

◽ Warranties (only if they are transferable)

◽ Insurance records

◽ Any warranty information or manuals relating to appliances which are part of the sale

Documents You’ll Need After You Sign A Listing Agreement When Selling Your House

Once you’ve got the documentation regarding the home sale in place and you have found an agent, together you’ll need to assemble various documents for different points in the home selling process. They will include:

◽ The agreement with your real estate agent and a collection of your written communications

◽ A list of all the professional service providers you deal with during the course of your home sale. These include contractors, movers, plumbers, etc.

◽ Any documents your lawyer will need

◽ Documents for your tax accountant

Before you List Your Home For Sale in Toronto or The GTA

Getting all the facts recorded and organized before listing your home for sale is crucial to a smooth home sale. It’s best to have all information before you get into listing or negotiation. If there are problems the must be addressed, you can deal with them before they are a disruption.

Your real estate agent will be in a better position to negotiate in possession of all the facts. In order to make an accurate home evaluation and have a solid foundation for the asking price.

Major repairs should all be completed before putting it on the market. Being proactive also sends a good message to buyers and agents and makes it easier to work with them.

If you want a recommendation for a home inspector, your real estate agent is the best place to start. Here are some of the points to consider before you list your house for sale in Toronto or The GTA.

◽ When was your house built?

◽ Is your home’s electrical wiring in good order? (e.g. lights don’t flicker, breakers and fuses don’t blow)

◽ What type of wiring do you have? (e.g. aluminum or knob and tube)

◽ Is there a fusebox/electrical panel?

◽ Is the plumbing in good order?

◽ When was the furnace last replaced/installed?

◽ Are the furnace filters often replaced?

◽ Is the home equipped with a water softener?

◽ Is the roof well maintained?

◽ Are the windows energy-efficient and well maintained?

◽ Are there any defects in the foundation?

◽ Are there water problems of any sort (including mold and/or mildew)?

Consider General Updates & Repairs Before Selling Your Home in Toronto or The GTA

There’s always room for improvement. Your home inspection and realtor may give you an idea of where it’s a good idea to invest resources when it comes to home updates or repairs.

Remember that while repairs are typically important to do to maximize your chance of getting top dollar for your home, not all updates will provide an equal return on investment. Upgrades don’t have to be major overhauls, and a little update can go a long way.

Work with your real estate agent to prioritize what needs to be done within your budget in order to improve your home. From the buyer’s perspective, the less work they have to put in after they buy a home the better. Make sure your home is in turn-key condition and move-in ready and you’ll be more likely to find a buyer.

◽ Here are some points to consider regarding home upgrades and repairs:

◽ Have you established a timeline?

◽ Do you have a budget set aside for essential repairs and potential upgrades?

◽ Are there any updates or repairs you have been putting off? It may be sensible to take care of these first.

◽ Are there any essential repairs?

◽ Are the windows and doors in good condition?

◽ Are permanent light fixtures in showing condition?

◽ Do your doors and trim appear new?

◽ Are there any holes or cracks in the walls?

Catch our article about cost-effect energy saving updates that you can expect a return on when selling your home in Toronto or The GTA.

Once You’ve Listed Your Home, Get Organized Before You Or Your Agent Stage Your Home For Sale

After you’ve found the best real estate agent for you, had your home inspected, and completed the first part of the checklist, it’s time to move on to getting your home’s interior organized.

Preparing a home to sale is likely to increase the odds it will sell in a good timeframe for a great value that you will be happy with.

Here’s what you should think about when you and your agent are preparing to stage the home:

◽ Is there clutter in any part of your home?

◽ Does the house look immaculate and clean all throughout?

◽ Are personal items and things you don’t need when selling your home away in storage or at your new residence?

◽ Have you stored non-essential items off the premises or in a discreet place?

◽ How does the garage and/or other storage areas look?

◽ Is the basement tidy (if it is used for storage)?

Removing Personal Items Before Selling Your Home

An essential part of home staging is making potential buyers who visit the property feel like they are in their future home, not someone else’s. Although we don’t believe in intrusive open houses at Frank Leo & Associates, when we bring qualified leads to a property we stage it beforehand so they can project their future lives into the space.

◽ Personal items like pictures, unique furniture, and other items can interfere with buyer experience and even cost a home sale.

◽ Here are the points you should consider when depersonalizing the property:

◽ Don’t keep any personal photographs on walls, mantles, etc.

◽ Pack away all books, music, or magazines which don’t appeal to a mainstream audience

◽ Keep memorabilia out of sight

◽ Any children’s items (toys, books, etc) should be neatly organized or stored away

◽ Any potentially offensive items should be removed from the residence

For more tips and insights about staging your home for sale in Toronto & The GTA you can refer to our Home Staging Guide. Frank Leo & Associates have gleaned these insights over 3 decades selling billions of dollars worth of real estate for 1,000’s of satisfied customers in Toronto & The GTA using our Guaranteed Home Selling System.

Curb Appeal When Selling Your Property

The first impression your home makes – whether through Toronto & GTA MLS Listings or in person – is often hard to overcome if it’s not positive.

Although the front yard and face of the home are important, make sure you don’t discount the sides of the home as well as the backyard. These are not to be overlooked, since many people will form an impression of how well the home is maintained based on its exterior.

The exterior is your opportunity to get potential buyers excited about viewing your home. It also gives your real estate agent and photographer ample material to work with for the promotional photography.

Here are the main points regarding your home’s exterior you should think about before selling:

◽ Does the exterior need any major repairs?

◽ Does the exterior need any minor repairs?

◽ Are there any festive or seasonal lights or decorations which need to be taken down?

◽ Are the front, side, and back yards neat and tidy?

◽ If it’s winter, are walkways and paths free of snow and ice?

◽ Have you made a list of everything that needs to be addressed in order of priority?

Maximizing the Appeal of Your Home’s Interior Before Selling

So far we’ve covered depersonalizing your home’s interior spaces and thought about curb appeal, but now you need to make sure every room and element of your house is arrange in a way that maximize appeal to interested buyers.

From flooring, to paint, to the way each room is arranged, each element of your home will be under scrutiny. Here are the things to consider before your agent shows the property to potential buyers. We’ll break them down into individual sections relating to the major parts of your home to evaluate.

Preparing Your Home’s Main Rooms for The Sale

Nobody’s home will be perfect, but there are many things you can do to keep buyers interested when they’re touring your property. The general idea is to show buyer’s what they are looking for, not what they will have to do in order to make the property suitable for themselves.

The small details can often make a big difference, and together they could be more significant than one single but more glaring issue. It’s easier for a buyer to see one thing they want to change and think it will be easy to take care of than for them to be overwhelmed by countless small details they’ll have to alter after the sale.

The longer the potential buyer’s to-do list of things the want to change, the further down the list of homes they’re considering buying your home will sink. Home buyers are happiest with turn-key, move-in ready homes.

Here’s what you should consider to give your prospective home buyers a home they can move right into and feel at home:

The Foyer

◽ Does the home’s entryway feel inviting?

◽ Is the entry spacious and well organized?

◽ Does it reflect the character and appeal of the home?

◽ How does the rest of the home look from the perspective of the entryway?

◽ Are personal items such as shoes, coats, etc. packed away?

Kitchen

◽ Does the kitchen look appealing when you walk in?

◽ Are there too many appliances/accessories like blenders, microwaves, or other gadgets?

◽ Has clutter been removed from the countertops/island?

◽ Are all of the surfaces sparkling?

◽ Is the fridge spotless (exterior and interior)

◽ Is the stove clean (exterior and interior)

◽ Do the appliances match and create a sense of consistency?

◽ Are the cupboards functional and looking tidy?

◽ Is there anything that could use some updating?

◽ Are the floors well-maintained?

◽ Are the sinks sparkling?

Living Room

◽ Is the living area inviting and comfortable in appearance?

◽ Is the furniture arranged nicely and in good repair?

◽ Has any excess furniture been removed and stored away?

◽ Is the room’s decor neutral?

◽ Are pet and children’s toys put away?

◽ Are entertainment consoles and wires all arranged neatly?

◽ Is the room open and full of natural light?

◽ Is the shelving clean and well-ordered?

◽ Are window coverings open to let in sunlight?

◽ If you have a fireplace, is it arranged neatly and cleaned?

◽ Has everything been thoroughly vacuumed and dusted?

Dining Room

◽ Is it clear the space is meant for dining?

◽ Is the centrepiece furniture elegant and matching the rooms decor?

◽ Are all of the components of furniture arranged properly?

◽ Is an upgrade or repair in order?

Master Bedroom

◽ Does the master bedroom evoke a sense of relaxation and comfort?

◽ Is the colour palette consistent and neutral?

◽ Are the pieces of furniture arrange well?

◽ Is there anything that could use an update?

Basement

◽ Does the basement have a specific purpose or use other than storage?

◽ Is that evident when you enter the space?

◽ If the basement is finished does it have the appropriate furniture for its purpose?

Bathrooms / Powder Rooms

◽ Are all surfaces clean?

◽ Is the counter neat and free of clutter and personal items?

◽ Are faucets clean and working properly?

◽ Have all tub and shower surfaces been cleaned?

◽ Are the towels fresh and neatly arranged?

◽ Are any storage areas clean?

Evaluate Your Home’s Paint Before You Sell

The paint on the walls of your home takes up a great surface area and can have a big impact on buyers. Painting a room is a big enough job on its own, so painting a whole tasks is a mammoth undertaking in the minds of potential buyers.

If buyers don’t like it for whatever reason it alone can cause them to form a negative association and pass on buying your property. Fresh, neutral-toned paint is the best way to go. It allows buyers to easily project their vision of how it will look as their space and it’s easy to paint over.

With a neutral palette your buyers will be able to comfortably live in the house before deciding if they want to redo the paint jobs.

◽ Have you recently painted the house?

◽ Is the paint chipping, discoloured, or otherwise in decay?

◽ Do the walls have loud colours which need to be painted to more neutral tones?

◽ Although the walls have neutral colours do they need a fresh coat?

◽ Do the rooms have a consistent colour scheme throughout? (e.g. cool or warm)

◽ Are any of the walls covered in wallpaper? If so it should be removed and replaced with a neutral paint colour.

◽ Do any finishes (e.g. doors, trim, wainscotting) need a new coat of paint or new colour?

◽ Do any of the ceilings need fresh paint?

◽ Are any of the surfaces covered in dirt or fingerprints?

◽ Any residue from tape, thumb tacks, or nails?

Check Your Home’s Flooring

A home’s floors can be a good indicator of how well the previous owners have maintained the property. Scuffed, poorly kept floors can give buyer’s the impression that other parts of the house aren’t in great condition either.

Having nice flooring all throughout is a good indicator that a home is move-in ready. With that in mind, here are the key points you should knock of your to-do list when it comes to your home’s flooring.

◽ Does your home have carpeting? If so, what condition is it in?

◽ What colour is the carpeting in your home?

◽ What is the carpet’s style (e.g. cut pile berber)?

◽ Do any of the rooms that don’t have carpeting need it?

◽ Which carpets need to be replaced – All rooms of just a few? (if only a few rooms need new carpeting make sure you chose something that works with the rest of the carpets)

◽ Does any of the carpeting have hardwood underneath?

◽ Is there vinyl flooring?

◽ Does any vinyl flooring need to be replaced?

◽ Do you have hardwood floors?

◽ Do the hardwood floors need to be refinished?

◽ Any places with excessive wear or water damage?

◽ Are all area rugs strain free?

Furniture & Other Accoutrements

Removing too much furniture makes a house feel empty and not livable while leaving too much or not arranging it properly create clutter. The happy medium is having the right number and type of furniture in each room arranged in such a way that brings out the rooms strengths and favourable qualities.

Keep in mind that the furniture should be arranged with the showing in mind. Arrange things according to the flow of how buyers will move through the house, not necessarily what is most comfortable or convenient for residents.

◽ Don’t forget to light everything properly to place emphasis on each room’s most attractive features.

◽ Here’s what you should consider what arranging and placing furniture in the house your selling:

◽ How much furniture does each room have in it?

◽ What is the placement of each piece of furniture in the respective room?

◽ Is your furniture in good, showing condition?

◽ Do you think you need to replace or rent furniture to replace furniture with wear and tear?

◽ Is there enough light in each room and are the bulbs appropriate wattage?

◽ Are all of the bulbs working properly?

◽ Do all switches work correctly?

Doors, Windows, & Finishes

Elements like windows, doors, and finishes are elements of your home which can serve as accents that really accentuate a room’s charm. If they’re in disrepair or mismatched, they can unfortunately have the opposite effect.

Here’s what to consider when evaluating whether any of your home’s finishes need a once-over or replacement:

◽ Do any doors have chipping paint or need new paint or replacing?

◽ Do all the doors open and close smoothly?

◽ Are the handles and locks moving smoothly?

◽ Do any of the doors creak?

◽ Do any frames or doors have smudges?

◽ Do any screens have holes?

◽ Are all of the windows clean and streak free?

◽ Is there any damage to any of the windows?

◽ Are all of the window latches and other hardware working?

◽ Are all of the seals in place?

◽ Are the curtains, drapes, and/or blinds all clean and elegant?

◽ Do any of the homes finishes (e.g. wainscoting, crown moulding) need attention?

Air Cleanliness & Pets

Your home’s air quality can have a big impact on your home sale. Even with new HVAC your home could have an atmosphere which is normal to you but not what most buyers are used to. It’s particularly common for properties which are home to pets to have this problem.

It is important to ensure your home has a neutral atmosphere to maximize its appeal to buyers. Odours can get trapped in carpets and furniture, mean it might be necessary to rent or buy new furniture or do some minor renovations.

◽ Is your homes HVAC (Heating, Ventilation, & Cooling) running smoothly?

◽ Have you inspected your smoke & carbon monoxide detectors and confirmed they are in good working order?

◽ Are there any lingering smells or odours permeating your home that you could eliminate?

◽ Do you often cook with strong seasoning or foods with strong odours?

◽ If you have pets around keep them somewhere else while showing the house. If not try to keep them and their items out of sight during showings.

◽ Remove signs of your pet including food, toys, accessories, etc.

If You’re Selling Your Home During The Holidays

Although you shouldn’t let the sale of your home stand in the way of holiday celebrations you should celebrate in a manner which won’t adversely affect your chances of attracting buyers.

For example holiday decorations and religious items should be stored away immediately following your celebration and not kept out in the open. Although some home sellers think adding a festive touch makes a home more inviting, it’s best to leave these items out of site at all times.

◽ Here’s what you should consider regarding holidays, celebrations, and your home sale:

◽ Are you selling your home around the holidays?

◽ Is it a festive time of year/ are there holidays taking place?

◽ Do you have decorations hanging around/inside your home? If so take them down for showings/photography.

◽ Keep the decor only for the celebration and remove everything after your festivities are done

Keeping Track Of Everything When Selling Your Home in Toronto & The GTA

There you have it – the checklist for selling your home in Toronto or The GTA. The list may seem daunting, but keep your list current by checking items off the list and you’ll get peace of mind that your sales process will run smoother.

Thinking of selling your home in Toronto or The GTA?

Consider working with Frank Leo & Associates. Led by the #1 Individual RE/MAX Agent in the World, our Team has helped 1,000’s of Torontonians get top dollar value for their homes over 30 years. We’ve sold billions of dollars worth of real estate and are proud to serve the region.

You can get started with us by getting a FREE, no-obligation home evaluation in Toronto or contacting us with any Toronto real estate questions.

Image_of_Open_House_Sign_Crossed_Out_To_Indicate_No_Open_House

How Do You Sell A Home in Toronto or The GTA For Top Dollar Without Intrusive Open Houses? Learn How From Frank Leo, The #1 RE/MAX Agent in The World

Posted on October 31, 2018 | by getleo1 | Leave a Comment

Entertaining guests is one thing, but for most people the only strangers they want in their homes are plus ones at a party. So why is it taken for granted that you need an open house to sell your home in Toronto & The GTA? Many people go as far as having multiple open houses hoping to find the right buyer.

Over his career Frank Leo has taken the “hope-ing” out of the home selling process in Toronto. In fact, he’s taken the open house out of selling homes. Why?

It’s because open houses don’t necessarily sell houses in Toronto, The GTA, or anywhere. In fact, they attract unqualified buyers.

Most agents and sellers hold open houses because it’s easy and convenient. It’s also in their personal interest to hold open houses, but we’ll get into that later.

First we’ll run you through why open houses are ineffective and how you don’t need to have open houses to sell your property in Toronto for top dollar.

Do Open Houses Actually Sell Houses?

Let’s look at the numbers.

Most home seller’s guides recommend holding open houses. With 517,018 houses sold in Canada in 2017, that’s a lot of open houses. That statistic would suggest that open houses play a big role in selling houses.

However, it may come as a surprise that hardly any buyers learn about the home they eventually buy from an open house.

Considering that an open houses is a standard marketing tactic that is practically assumed in most real estate offerings, it’s remarkably ineffective.

Open houses – along with other traditional marketing tactics – are simply outdated. During a time where they were at the forefront of real estate marketing they were surely more effective. However, times have changed.

With the advent of the internet and other communication tools available to real estate agents open houses are falling by the wayside. Knocking on doors, cold calling, sending out flyer and open houses are no longer the norm.

That’s right. Open houses are going the way of travelling salesman and cold callers. It’s all because the consumers have moved on. People are more responsive to different forms of communication.

Because consumers do things differently now these methods don’t reach many people & even less buyers. What’s more, the people they do reach don’t respond to them.

In short, open houses are not a good way to allocate resources when marketing your home for sale.

Is An Open House Still A Good Idea In Your Case?

In some cases, an open house can still be effective. If the property is available to show the property by appointment anytime then it is effectively an open house 24hrs a day.

If you find yourself wondering whether it’s still a good idea to run an open house, as yourself if it’s really worth the trouble.

Selling your home in Toronto & The GTA is an involved process. If you have a great real estate agent he or she will handle nearly everything, but that still leaves you with a number of new issues:

You have to make time, probably on the weekend, to invite who knows how many strangers into your home
Buyers have to take time out of their busy lives to find out whether it will be a good fit
The stress of a public showing of your private space
An added time frame during which you’ll have to prepare your home for the open house
The security issue of not knowing who is coming to see your home.

What You Should Do To Sell Your Home in Toronto Instead Of An Open House

There are plenty of impactful marketing tactics that will help sell your home fast for top dollar.

Over the course of a 30 year career selling billions of dollar worth of homes in Toronto & The GTA, Frank Leo has used his innovative real estate tactics to help thousands of Torontonians get the best value for their homes.

As the #1 Individual RE/MAX Agent in the World Frank Leo didn’t get where he is by accident. Frank Leo doesn’t do open houses because he cares about his clients and getting them the best deal on their home sale. That’s why he doesn’t do open houses

You see, an open house often ends up benefiting the realtor more than the home seller.

Why Realtors Really Hold Open Houses

First and foremost it costs almost just some time. When realtors hold open houses, their chances of attracting and closing a new prospective buyer are very low. After all, buying a house is a big investment, one which the vast majority of people won’t make on a whim.

Although he may not have a high chance of selling your property, a real estate agent is likely to meet a number people interested in buying a property. He can then show those buyers other properties similar to yours and find the right one for them. Of course, this comes with a commission for him, but nothing for you. Basically using our property as bait to attract buyers.

When you look at it this way, most people don’t want their home used as a sales parlour for other people’s real estate deals.

Frank Leo & Associates Don’t Hold Open Houses

It’s a matter of principle. Frank Leo & Associates always put their clients’ needs first.

Instead of using ineffective open houses, we allocate the time and resources we have available to the most effective techniques for marketing each client’s individual property. We know that by reaching millions of potential buyers weekly, that translates into greater opportunities to sell your property for the more.

The methods Frank Leo his team have developed have innovated the real estate industry and Toronto & beyond. That’s why Frank Leo is an award winning realtor in Toronto & The GTA, recognized as #1 in the World.

Our multi-million dollar marketing system works 24/7 all year round to find qualified buyers for our clients’ homes. Using both inbound and outbound methods we find buyers before we show them houses in person.

We understand that a property won’t sell unless buyers learn that it’s for sale. Our 360 degree marketing system uses many methods to attract buyers from every walk of life. We drive buyers to the internet using TV, Radio, Billboards, Social Media, Mass Campaigns, Targeted Campaigns, Newspapers and Magazines to drive traffic and attention to our properties. Since 51% of home buyers find their home through the internet, we understand how important it can be in our arsenal of tactics for finding the perfect buyer for each home we sell in Toronto & the GTA.

An Effective Real-Estate Website

Our website provides buyers with not only in-depth information about homes and photos which showcase each property, but includes statistical information which can help buyers find the right homes for them.

It gives them a more convenient experience because they see homes they are interested in.

We use social media and other digital marketing tools to target precisely the type of buyer which would be interested in a particular home. It’s really a win – win.

Buyer’s seeking a home have an easier time finding the right house when they are thinking of buying a home in Toronto & The GTA. Sellers can reach highly-qualified buyers and increase their chances of getting great value on their home sales.

If you’d like to learn more about working with Frank Leo & Associates or you’re thinking of selling, we’re always here to talk with you. Don’t hesitate to contact us.

Marketing That’s Guaranteed to Sell Better Than An Open House

At Frank Leo & Associates we offer our clients what we call a Guaranteed Home-Selling System.

Our system is better than traditional marketing like open houses. We even guarantee to sell your home for a price and at a time frame you agree on because we are so confident in the success of our system.

Selling Homes in Toronto & The GTA & Reaching More Buyers

Open houses only appeal to the small geographic area around them. As a marketing tactic, they won’t reach the buyer’s who live out of the immediate area and is also time restrictive to buyers so they may not be able to attend.

Mass marketing is able to reach more home buyers searching home listings in Toronto & The GTA all around the world. Regardless where the buyer is, they can learn about your home and whether it’s right for them.

“Online” Open Houses in Toronto & The GTA

A well-made, marketed, promoted, known, and high-traffic website is far more effective at attracting interest than an open house. As mentioned, users can browse Toronto MLS listings at their convenience.

With professional photography of a well prepared and presented home, an online presence for a Toronto home will give users a more accurate idea of whether they are interested in a home over seeing a directional sign for an open house.

Realistically, very few home buyer hear about an open house. Only a limited amount of people from the neighbourhood and random people driving by. People not necessarily buyers.

When a home buyer views a house online they get far more. They can learn about the intricate details of the house like what kind of finishes it has, when it was built, how many square feet they can expect, and what kind of upgrades it features, & more.

Buyer’s can use real estate resources like these to make an informed choice about expressing interest in a house instead of a general interest. That way, when your realtor will bring you pre-qualified parties and don’t waste anyone’s time.

How To Sell A House Without an Open House

As you can see many realtors still use open houses in Toronto & the GTA as a marketing tool. Not because they are effective but because open houses do not cost money to hold, only some time.

Selling without open houses takes resources. You (or your realtor) will need to spend marketing and advertising dollars to reach as large an audience as possible. This will greatly increase the likelihood of finding the ideal and or best buyers for your property in order to get you the highest price possible. Unfortunately advertising is expensive but how expensive will it be for you if you don’t reach the ideal buyer for your home and sell it for less that you could have? Don’t take chances with your largest investment!

This is just a short summary of all the work that a real estate agent puts in to sell your home.

people_shaking_hands_over_a_real_estate_deal_avoiding_real_estate_deal_breakers

Thinking of Selling Your Home in Toronto or The GTA? Avoid These 4 Major Deal Breakers For Home Buyers and Maximize Your Chance of Getting Top Dollar Value for Your Property

Posted on October 22, 2018 | by getleo1 | Leave a Comment

Everyone has their personal preferences when it comes to how their homes look and feel. That’s part of what makes a house feel like home.

Despite these preferences being very personal and subjective there are common deal breakers that are likely to turn most people away even if the house is a good fit for them.

On this list we’ll cover deal-breakers that can keep a home on the market that aren’t aesthetic issues like wall colour or furniture design.

For tips on preparing your home for sale in Toronto or The GTA read our article about staging your home for sale in Toronto or The GTA. You’ll find the top tips which Frank Leo & Associates have collected over 3 decades serving the Toronto & GTA real estate market and selling billions of dollars worth of homes.

1. The Location Of The Property When You’re Selling Your Home In Toronto or The GTA

The saying goes that in the restaurant business the three most important features are location, location, location. Although people put a lot more thought into picking a house and consider many other factors, location does have a big importance for some people thinking of buying a home in Toronto or The GTA.

People are generally adverse to homes built in precarious places like flood zones, on hillsides where the foundation could shift, or around other hazards. Fortunately for people selling their homes in Toronto & The GTA, the region is reasonably safe when it comes to climate risks.

Other geographic factors people consider when buying a home is what kind of neighbourhood the house is situated in – it could be a quiet residential area or a more vibrant part of town. A great real estate agent will understand not only the city’s real estate market but the specific market conditions in the neighbourhood.

They’ll be able to leverage this information and help point out the positive aspects of a home’s location – if it’s in a neighbourhood where property values are steadily increasing, for example.

2. Maintenance Issues With The Home You’re Selling

Essential components (roof, foundation, etc.) Buyers see these issues as big, expensive problems and want to pass the cost on to the seller. Here are the most common parts of a house which are in disrepair.

Roof

A roof in disrepair can turn off buyers before they even enter the property. Since parts of the roof may be visible from the street it’s especially important to address any roofing issues before listing your home for sale.

Cracked, missing, or damaged shingles or tiles are sure signs that the roof needs work. If your roof does need work, even just a small section, it’s worth doing because otherwise the buyers could walk out on the deal or request a price reduction of thousands of dollars.

Foundation

If your gutters aren’t overflowing and are working properly they keep water from getting to the foundation and potentially causing damage. A cracked or otherwise damaged foundation requires attention and won’t make a good impression on potential buyers.

Mould

In addition to being unsightly, mould can pose health issues if left untreated. Potential buyers could also form the impression that if there’s mold, there are other serious problems. Any signs of mould can sink the sale.

During your home inspection your professional inspector will notify you in the unlikely event there are traces of mould of which you were not aware. Fortunately in most mild cases removing the mold does not necessarily require the help of a professional.

Bad Plumbing

Poorly done or old plumbing can indicate mould, flood, and other plumbing issues. Although the potential buyers won’t be tearing up walls to inspect plumbing all external plumbing must be functional. That includes fixing leaky taps, making sure drains drain properly, and the toilet functions.

3. Climate Problems In The Property For Sale

If you’re living in the home you’re selling it could be tricky to determine whether atmospheric factors could turn off potential buyers. Since you spend a lot of time in the home something that’s totally normal for you could be perceived differently by others. Although these issues are often a matter of preference, there are also some environmental issues that would certainly need to be addressed if you want to get top dollar value for your home.

Air Quality

Old or dysfunctional HVAC (Heating Ventilation and Cooling) can create stale air. Some buyers may take that as an indication that the home’s heating and cooling systems are not in good working order, and that’s a definite red flag for most buyers.

Odours

Pets, cooking with pungent spices, or smoking indoors can all cause lingering odours that turn off buyers. There are measures you can take if you do notice the property you are selling has an odour. Replacing fabrics like carpeting and furniture and getting rid of any pet-related items can help alleviate lingering smells. It’s best to keep pets out of the home while it is being shown as well.

High levels of Radon

Test your home’s Radon levels. Many Canadian homes have relatively high levels which can pose a health risk. Luckily, lowering levels is not prohibitively expensive.

If you have professionals come to measure or reduce radon levels make sure to keep all the paperwork to show potential buyers if asked.

4. If The Home For Sale Has A Bad History

A History of Problems With Maintenance

When home’s have experience problems like flooding or a leaky roof it can give buyers the impression they’ll facing problems like that themselves.

Oil Tank Buried in The Backyard

Some older homes have oil tanks buried beneath the rear yard. If left alone they can become a liability, and a costly one at that. When they rust, they leak, and if they leak that’s where the problems begin.

If you have an oil tank consider having it inspected and/or removed. Be sure to keep your proof of having work done.

Thinking Of Selling Your Home In Toronto & Need Help Finding Out Home Much Your Home Is Worth?

Knowing your home’s value can be tricky given the changing markets, your home’s condition, and numerous other conditions.

Take advantage of Frank Leo & Associates FREE, no-obligation home evaluation and find out what you can expect to earn from your home sale today.

Remember you can also contact us at any time with your Toronto & GTA real estate related questions.

Image of a bag of money being exchanged for a house to illustrated buying a house as a millennial.

Advice For Millennials Thinking of Buying a House In Toronto Or The GTA From Frank Leo, The #1 Individual RE/MAX Agent in the World

Posted on August 17, 2018 | by getleo1 | Leave a Comment

With almost 65% of millennials saving money with the intent of buying a house in Toronto or elsewhere, we want to provide first-time homebuyers with the best possible advice and insights when it comes to what could be the largest financial decision of a lifetime.

Taking the right approach when investing in Toronto real estate can make a tremendous difference in your adult life. This goes for buying as an investment or as a primary residence. A small mistake could mean the difference between a benchmark investment and an issue plaguing your finances for years to come.

Remember that Frank Leo & Associates, the #1 RE/MAX Team in Canada** led by the #1 Individual RE/MAX Agent in the World* are here to answer you Toronto real estate questions at any time. If you have any questions about home ownership that are outside the scope of this article, don’t hesitate to reach out and contact us.

Benefits of Being a Millennial Owning a House in Toronto

If you’re considering buying a home in Toronto & the GTA, you’re no doubt aware of some of the many benefits it can provide. You can use it to generate income, use home equity as collateral, or sell at a profit.

For some people, the feeling of not paying rent anymore justifies the commitment of paying for a house.

However, before you make that commitment, which is significant, you should be aware of everything that comes with it. Going into a big decision like buying a house blind is a sure way to make life difficult for yourself.

Understand What Buying a House in Toronto & The GTA Involves

Owning a house is a big responsibility, both financially and in terms of your day-to-day life.

In maintaining a house and the grounds takes a lot of work. It can be a bit of an adjustment for the uninitiated.

It could also limit your mobility when it comes to travel. If you plan on going away for a longer period of time the house will need maintenance.

In terms of finances, buying a house with a mortgage makes it a big financial responsibility. Missing mortgage payments, or in the worst case defaulting on your mortgage can leave you bankrupt and throw your financial future into turmoil.

For that reason taking out a mortgage is not a decision to be taken lightly or without completely thinking through your plans.

Some of the questions you should ask yourself when thinking of buying a home in Toronto or The GTA include:

– Are you able to afford owning a home in Toronto & the GTA?

– Can you continue to make mortgage payments even after a change in income?

– Do you have the financial means to put in a good enough down payment to support the rest of the costs needed to be payed?

– Is your current debt a heavy burden?

– Would it benefit you to wait for more favourable market conditions or until you have more savings?

– Have you considered ALL of the costs associated with buying a house?

– What kind of a mortgage should you take out?

If you’re seeking advice on buying your first house in Toronto & the GTA, Frank Leo & Associates would be more than happy to provide expert guidance. FOLLOW HERE TO CONTACT US or Call (416)917-5466.

Financing Your First House in Toronto & The GTA If You’re a Millennial

Many millennials think of the Toronto & GTA Real Estate market and wonder if they’ll ever be able to afford a house. Although Toronto & the GTA house prices go up and down, the market is seen as inaccessible to young people in much of millennial culture.

In reality, many millennials could afford buying a house with a mortgage while taking advantage of some of the financial incentives the Government has instituted to help first time home-owners.

For example, the First-Time Home Buyer’s Credit (FTHBC) introduced by Revenue Canada in 2009 is a terrific place to start when it comes to easing the financial stress of buying a house in Toronto. If you’re a first-time homebuyer thinking of buying a house in Toronto check if you meet the requirements and whether the house qualifies for the credit.

The 15% income tax credit and other credits you may be eligible could mean the difference between affording the home and saving for a few more years.

Is It The Right Time To Buy A House in Toronto & the GTA?

Timing can play a big role when it comes to buying a house in Toronto. Determining when is the right time is a personal financial decision based on:

The conditions of the Toronto & GTA Real estate market. Houses could be exceptionally expensive or more affordable
Mortgage rates. Depending on the state of the mortgage industry, interest rates on the money you’re borrowing to buy a house could be relatively high or low
Your financial situation. Is it a good idea to buy now or save for a bit longer?
The Right House. Have you the perfect home for you?

There is no one-size-fits-all approach to answering these questions. It comes down to your current situation, your financial plans, and what your plans are for the future. When it comes to financial planning you can seek out the help of a professional, but in regard to any of your Toronto real estate questions you can count on Frank Leo & Associates.

Our award-winning real estate service has helped 1,000’s or people find their dream homes in Toronto & The GTA over three decades. Reach out to us to learn more about how we can help make your real estate dreams a reality.

Making Your Down Payment When Buying A House in Toronto & The GTA As A Millennial

In addition to other home-ownership costs, mortgage insurance is another expense you will have to pay on a monthly basis if you don’t own 20% equity. In practical terms, that means anyone buying a house who makes less than the traditional 20% down payment will have to buy this insurance.

Mortgage insurance protects the lender from losses if you are suddenly unable to make mortgage payments.

Making a larger down payment also means you start out with a higher share of equity in the property. Having more equity gives you more financial options in the future.

Remember the Stress Test

In order to be approved for a mortgage in Canada you need to undergo a financial stress test. As of October 17, 2016, this stress test is mandatory for all insured mortgages in Canada, even if you make a 20% down payment.

Historically this test only applied to people making a downpayment of less than 20%. These new rules were put in place to ensure that you can afford to keep making payments even if mortgage rates were to increase.

In addition to qualifying for the rate provided by your lender, the stress test requires that you qualify for the Bank of Canada’s five-year fixed mortgage rate. The BOC’s rate acts as a sort of benchmark that gives an indication of your financial status to help prevent people from defaulting on their mortgages.

This mandatory measure includes a requirement that as a home buyer you are not spending more than 39% of your income on home costs. Those costs include taxes, mortgage payments, utilities, etc.

Finally, your TDS (Total Debt Service) ratio cannot be over 44% and needs to include all other debt payments.

All of these conditions might seem like obstacles for millennials thinking of buying houses in Toronto. However, they’re there to prevent Canadians from falling into dire financial circumstances if their mortgage rates were to increase, unexpectedly.

Be aware of how your financial standing stacks up to the stress test requirements. Check where you stand before getting too invested in buying a house.

Get Informed About Toronto & The GTA Real Estate

Buying a home requires research, knowledge and an understanding of the home-buying process. Having insight and experience on your side is even better. Unfortunately it’s not as simple as just looking through Toronto & GTA real estate listings and picking a house.

Over 3 decades we’ve been helping people in Toronto & The GTA navigate the real estate market and we’ve developed an expert understanding of it.

That’s what makes us the #1 RE/MAX Team in Canada.* If you’d like the #1 Team on your side when navigating the home-buying process, we’re here for you.

RELATED ARTICLES:

FOLLOW HERE TO GET INSIGHTS INTO INVESTING IN TORONTO & GTA REAL ESTATE

FOLLOW HERE TO READ ABOUT BUYING YOUR FIRST HOME IN TORONTO OR THE GTA

FOLLOW HERE TO LEARN ABOUT FINDING THE RIGHT REALTOR TO SELL YOUR HOME

Led by the #1 RE/MAX Agent in the world*, Frank Leo & Associates has helped 1000’s people in Toronto & The GTA navigate the real estate market.

That’s what makes us the #1 RE/MAX Team in Canada.**

Consider speaking with Frank and his team of associates help you navigating the home-buying process, FOLLOW HERE TO CONTACT US TODAY or Call (416)917-5466.

* Dollar Volume in 2017

** Dollar Volume January – May 2018

The Skyline of Toronto & GTA Real Estate highlighting how it's a good place to invest

Toronto & GTA Real Estate: A Strong Place to Invest When It Comes to Real Estate Investment in Canada

Posted on August 17, 2018 | by getleo1 | Leave a Comment

The Toronto & GTA Real Estate market just saw a major jump. The Toronto real estate statistics released by the Canadian Real Estate Board for this summer show a major upswing when it comes to housing sales. The increase is drawing even more attention to one of Canada’s top cities for Real Estate investment. In fact, Toronto has earned the title of making Canada’s biggest gain in home sales this year.

If you have any questions about the statistics presented in this article or about Toronto & GTA real estate in general, look no further than Frank Leo & Associates headed by the #1 Individual RE/MAX Agent in the World* for the answers. Contact us to have your questions addressed.

Toronto & GTA Real Estate Statistics 2018: Toronto Homes Sold

Toronto has seen an increase in homes sold this summer compared with the same time last year.

By the numbers, that means a 2.4% increase compared with last year’s numbers for June 2017. In Total, we’ve seen 8,082 homes sold through the Toronto Real Estate Board’s Toronto MLS Listing System, as reported by Greater Toronto Realtors® in June 2018. Between May and June of 2018, the sales are up 17.6% on a monthly basis.

Average Price of Toronto Homes Sold

In terms of average selling price, it’s edged up by 2% on a year-by-year basis. By June 2018, the average price of a home sold in Toronto reached $807,871. Between May 2018 and June 2018, the average home price jumped up by 3%, a considerable change for the market (after preliminary seasonal adjustment).

On a year-over-year basis the MLS® Home Price Index (HPI) went down 4.8%. However, it stayed more or less the same in terms of month-over-month change. Changes to the amount of different types of properties which were sold between June 2017 and June 2018 is one of the reasons that can account for the differences in the average price and the MLS® Home Price Index (HPI), year-over-year. In June 2018 low-rise homes accounted for a larger share of home sales, for example.

Buying A Home In Toronto Becoming More Attractive

Jason Mercer, The Toronto Real Estate Board’s Director of Market Analysis and Service Channels, expects to see, “improvements in sales over the next year.” In the same statement he has indicated that it is likely that the number of new listings posted each month will also stay more or less consistent.

What does that mean for the market?

It could mean that the competition between buyers which is characteristic for the Toronto & the GTA real estate market could actually increase. The cumulative effect of that competition is likely to drive Toronto Real Estate Prices up even higher.

Accounting For Toronto’s Real Estate Market Boom

Although these changes are largely positive for homeowners seeking to sell property in Toronto & the GTA, these changes to the Toronto Real Estate market can be accounted for by recent policy changes over the past year which have affected home buyers. These include adjustments to the Fair Housing Plan, the now-mandatory stress test, and higher costs of borrowing.

Garry Bhaura, President of the Toronto Real Estate Board, suggests that these conditions are starting to move more real estate buyers back into the Toronto real estate market.

Your Toronto & GTA Real Estate Questions, Answered

Still have questions about the Toronto & GTA Real Estate Market?

Whether you’re thinking of buying or selling a house in Toronto & The GTA, you can count on Frank Leo & The #1 RE/MAX Team in Canada** for expert advice. Frank Leo & Associates have been helping buy and sell houses in Toronto & The GTA for three decades.

We’re here to answer all of your questions and meet all of your real estate needs, so get in touch.