Sprucing up your MLS listing may be key to a beneficial sale according to the lastest information from the Toronto Real Estate Board.
Are you one of the home owners who has your property for sale and coasted through the summer without selling? Inventory is slowly growing and competition is becoming fierce in the Toronto real estate marketplace. With the return of the fall market, we’ll see a boost in listings added to the inventory which means even more competition for you.
The new listings that enter the system this fall will have a distinct advantage over your property. They’re fresh. They’re new to the market and to a buyer that has been tire kicking all summer. Most importantly, the new listings are more likely to be priced well — perhaps better than yours.
Proper pricing is now king in the Toronto real estate market. If your home has languished on the market and you’ve not had a recent comparative market analysis or appraisal, you owe it to yourself to get one.
Contrary to popular belief, real estate has actually been selling over the summer. Those recent sale prices are what you need to compare with for pricing purposes. Pricing your home based on how it appraised several months ago or what the neighbour’s sold for last season isn’t going to cut it. It has to be priced for “right now.” Those homes that hit the market this fall will have “right now” pricing. Does yours?
Once your home is priced effectively for the market you might want to 'spruce up' your market presentation. Start by getting a current, full print out of the Multiple Listing Service report, which provides detailed information about your home. Honest mistake or carelessness, you may be surprised that information is often out-dated — or just plain wrong — in the MLS.
Sellers, you need to defend yourselves. A simple review of the MLS might find an error or omission that needs to be corrected. You might discover that there are photos with snow, or worse, no photos at all. Buyers like pictures. If they don’t find pictures of your home they skip to the next property on the list. If you do have pictures, it wouldn’t hurt to make sure they’re high quality and taken with a wide angle lens. Buyers like pictures but they especially like good pictures that give them a feel for your home. Curb appeal begins — and sometime ends — on the MLS.
If the exterior shot of your home has trash cans in the driveway, Christmas decorations or the side mirror from the agent’s car in the shot, you might want to update. You’d be surprised what can be seen out there while researching properties. There is a little known fact about the MLS system, too. It is capable of carrying attachments. Important disclosures, addendums, community site plans and even the floor plan to your home can be attached to your home’s MLS report so that buyers and their agents have access to more data about your home. A valuable tool, no doubt. Let me make sure that all the above information is gathered and updated into the system.More and more buyers are making sure they have all of their information regarding a property before they travel to view it. This makes it very important to have an agent that will preview the properties that interest buyer clients and to have an agent that will make sure that information posted on the MLS system is as accurate as possible.
It’s up to you to monitor your MLS listing data and make sure accurate information is out there and able to be found.
There’s still lots of buyers for your home, if they’re able to find it on the MLS and like what they see. Maybe you should make sure it’s fresh and get some pretty pictures up there to entice them to come by ... and buy.
Not only do I do all the images on the Toronto Real Estate Board and all the descriptions of your house, I also provide other techniques that are not being used by the majority of agents. To discuss my advertising techniques, contact me at 416.427.1875 or email@example.com.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of service provided by the real estate professionals who are members of CREA. Used under license
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license