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How Selling Your Home Too Fast Can Cost You. Don’t Sell Without the Right Marketing!

How Selling Your Home Too Fast Can Cost You. Don’t Sell Without the Right Marketing!

Everyone wants to sell their homes for top dollar. Not everyone succeeds. 

The good news? It’s absolutely possible as long as you don’t make the mistake of selling too fast without proper marketing. 

Selling quickly can seem like such an important goal that it’s easy to forget that without the right marketing, you could be missing out on tens if not hundreds of thousands of dollars on the sale of your property. 

In this article you’ll find the insights that Frank Leo and Associates has garnered over decades selling thousands of homes in Toronto & The GTA fast and for top dollar. We’ll cover why marketing effectively is important and how it’s done. 

Considering selling your property in Toronto or The GTA? Sell your home for top dollar value guaranteed with Frank Leo & Associates. All it takes to get started is a FREE home evaluation

Why Just Selling Fast Isn’t Enough

Anyone can sell a house quickly by setting the price low enough. However, it takes a top real estate agent with a good strategy to sell quickly and  for top dollar.

Focusing on finding any buyer quickly leaves money on the table because there’s a great likelihood  that other more ideal buyers would be willing to pay a higher price if they are not being reached or aware of the property being available.

It all comes down to far reaching marketing to find the ideal qualified buyers who are interested in the property in question and understand and appreciate its highest value. 

What is “Marketing” When It Comes To Selling Fast and for Top Dollar?

At Frank Leo & Associates we use a Guaranteed Home Selling System the ensures homes will sell quickly for top dollar. We’ve created this multi-million dollar marketing system over years working in the Toronto real estate market. 

Below we’ll cover the marketing techniques we use to sell property fast for top dollar and why you could be missing out on profit for your home sale homesale.

Starting With A Home Evaluation Consultation 

To get top dollar for your home, you need to have a strategy. At the core of that strategy is an understanding of your home’s market value to the ideal buyer. 

Knowing the market value enables a seller to advertise the home to qualified buyers who are interested in that type of property and able to afford it. 

For example, advertising a million dollar home to a young family looking for a starter home isn’t likely toget you the best result. 

Interested in finding out how much your property is worth? Contact us or claim a FREE home evaluation carried out by professionals with decades of experience in the Toronto & GTA real estate market. 

Photographing the Home 

Presentation is critical to advertising any product, and property is no exception. In today’s market most people will first see your home in photographs or video – whether that’s on social media, a multiple listing service (MLS), or through other internet digital channels. 

According to a recent National Association of Realtors study, 99% of Millennials, 90% of Older Boomers, and 70% of the Silent Generation are searching online for property. 

It’s important to have the home looking its best and photographed professionally to make this first impression a strong one. There are numerous tricks of the trade and details that may not be clear to the layman’s eye when it comes to capturing the strengths of a property to make it look its best. 

Let’s take a quick look at a few of the different visuals listings should have for effective marketing. 

Front Shot

Listings that don’t have a full-frontal shot showing off the property have slim chances of getting much engagement or interest. The exterior photo is an important demonstration of curb appeal and is an expected convention in the real estate industry. 

Interior Photos

All the primary rooms of a house should be photographed to give prospective buyers a sense of what it’s like to live there. The goal is to help buyers imagine their own lives in the property, to make them feel at home.  

Interior photos also bring up the question of home staging, or presenting your home in a way which makes it appealing to buyers. Having an eye for home preparation and staging is a skill in itself – another reason many home sellers choose to sell with an experienced real estate agent.

See our article about how home staging can help maximize profit for more tips on making prospective buyers feel at home when they see your property and appreciate it. 

Virtual Visits

Are included as part of our Guaranteed Home Selling System

These interactive virtual visits invite buyers into your home without the need for intrusive open houses, giving them a remote home-buying experience. 

Virtual visits let buyers investigate and see a property at their own pace and at their convenience. 

Nearly half of house hunters responding to a recent survey described virtual visits as “very useful.”

Thinking of selling in Toronto or The GTA? Frank Leo and AssociatesLeo can help apply some of the marketing know-how we’ve collected over the past 30 years to help you get top dollar value for your property. Get in touch to learn more about how we can help or get started directly with a free home evaluation

Using The Multiple Listing Service

Once a home has been property photographed, an agent creates a custom listing on the Multiple Listing Service, or MLS. 

Although MLS is typically used primarily by agents and brokers, it’s an important part of home-selling process it is only one part of a comprehensive marketing strategy. 

24-Hour-A-Day Advertising 

So you have your home photographed and listed on MLS. Now what?

Just sitting back and waiting for something  to come in isn’t a practical strategy for getting top dollar in a short time frame. 

That’s why Frank Leo & Associates employ a multi-million dollar marketing system that advertises each home listing 24 hours a day, 7 days a week, until the property is sold. 

This constant targeted advertising should take a variety of forms if you’re going to get your property sold for top dollar and in a short period of time. 

In a major metropolitan area of the GTA’s size, there’s always someone out there searching for a property – and we’re there to meet them with a property that fits their needs. 

Explosive Digital Marketing

Increasingly important in the digital age, digital marketing is a big component of today’s real estate industry. With more and more consumers turning to their devices for customer service and information, a strong presence online will help sellers reach the right audience at the right time. 

A digital presence involves being active on social media, advertising listings across channels, leveraging email marketing, banner ads, geo and profile targeting plus much more. 

At Frank Leo & Associates we pride ourselves on placing properties in front of more ideal buyers at the right time, resulting in astounding results like selling a Toronto home for $1 million over asking.

Take a glance at the Team Leo Facebook page, LinkedIn, or Instagram and you’ll find examples of how we market listings. You’ll also see plenty of examples of listings we sold quickly for top dollar, all thanks to our multi-million dollar marketing system. 

Doing Traditional Advertising in Newspapers, Magazines, Flyers, Radio, TV, Outdoors, and More

In addition to digital advertising, we invest millions in advertising our brand across most traditional media – from out of door billboards to radio and TV spots. 

It’s all part of our Guaranteed Home Selling System and making sure both home buyers and sellers understand that Team Leo has them covered when it comes to real estate services. 

Being top-of-mind has helped our team achieve accolades like the #1 RE/MAX Team in Toronto & The GTA.*

There’s No Need For  An Open House 

DON’T hold an open house!

That may seem like curious advice in an article about how failing to market your home effectively can cost you, but open houses are a marketing tactic from a different time.

The sale process is totally different today.

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

Simply put, open houses don’t do much in the way of finding qualified buyers for your property. They actually cost practically nothing to do. In fact, many agents use them to increase their network and meet buyers to whom they can then sell other properties. 

Selling Your Property in Toronto or The GTA

As you can see, marketing a home is a crucial part of selling. No other realtor invests as much to market your property as Frank Leo and Associates. A private seller’s wouldn’t have the time or the resources to sell a property effectively. Not to mention the lack of an effective marketing campaign required to sell a home quickly for top dollar value. How much would you lose by cutting marketing corners? 

Don’t hesitate to get in touch with any questions about selling your property or any inquiries about our Guaranteed Home Selling System

Other Articles You May Be Interested In…

How To Find The Best Real Estate Agent For You in Toronto & The GTA

Your Guide to Enhancing Your Home’s Curb Appeal When Selling

Why Choosing The Right Real Estate Agent Matter

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

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.

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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

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.