What's the right pricing strategy when selling my home?

The right pricing strategy is crucial when selling your home, as it can significantly impact your ability to attract potential buyers and achieve a successful sale. Having a strong agent who has a pulse on the market is invaluable to get the best results. I see mistakes being made often resulting in properties not selling at all or leaving money on the table.

Once we are certain that we’ve identified the correct market, we can discuss which strategy is going to have the best chance of yielding the best results.

Analyzing the market

Conduct a thorough market analysis of your hyperlocal market. Being analytical in this process is very important. Part of my process when I first meet with a seller is to consider anecdotal evidence from my everyday experience and then see if it lines up with the stats for your property type, area, etc. The types of stats that are important to analyze are

Absorption rates for your exact property type and area (supply and demand analysis)
Are showings trending up or down
Are offers trending up or down

Check the comps

Identify 3 to 5 comparable homes (comps) that have sold within the last few months. Use similar properties in terms of location, type of property, size, and condition. Many times I’ve met with clients that use the wrong comps. Bungalows and backsplits, a condo just two blocks over, can have vastly different price points. Ensuring that you are comparing the same property type is a very important aspect of getting the fair market value for your property,

Once we are certain that we’ve identified the correct market and a fair market value, we can discuss which strategy is going to have the best chance of yielding the best results.

The different types of pricing strategies.

1. List low and hold off offers

Pricing your property below its current market value is a popular strategy in the GTA. Beware though! It only works well in a strong seller’s market. When the supply is low and demand is high. A few things to consider for the best results:

List your property early in the week and accept offers about 6 to 7 days later.
What about “BULLY OFFERS”? Check out this link.
Have your property ready for showings on the first day, it’s likely to be busy if the marketing has been done right.

2. List at market value and accept offers at any time.

This is a good strategy when the market is balanced. The prices are not moving much and there is a balance between supply and demand. A house or condo priced at market value is more likely to generate interest from potential buyers. It creates credibility and trust from buyers and their agents which increases the chances of getting an offer.

Looking to sell your property?

Get in touch for a free NO OBLIGATION consultation and see why others have put their trust in me. Don’t like forms? Call or text me at 647-830-5210 or email me at info@igorveric.com.

3. If listing at market value should I leave some negotiation room?

I get this question fairly often when the market is balanced or turning into a buyer’s market. Mind you, a buyer’s market has been a very rare event in Toronto in the past decade but has happened a few times.

It really depends on several factors. How motivated are you to sell? And how confident are you that the market will pick up in the near term? If you are confident that the market will heat up soon, or you’re just testing the waters, then the answer is yes. Within reason of course. If you are listing 10%+ over the market value, it’s likely to be a waste of your time.

4. List ahead of the competition.

This is a strategy used in a strong buyers market where there is downward pressure on prices. You list your property BELOW the most recent comps but not to get multiple offers and drive the price up. It’s a strategy meant to encourage the limited pool of buyers to buy your property instead of another. The risk you are taking is that you’re betting that the market will continue to go down and that you will sell before the slide continues further.

I hope that this info has given you some insight into the best practices on the right pricing strategy when selling your home. Making a mistake in either the evaluation of your home or the pricing strategy can cause you to lose the sale or leave money on the table. If you have any questions feel free to get in touch any time. No commitment, no pressure.

Questions? Get in touch!

Don’t like filling out forms? Feel free to call, text, or email me. My cell phone number is 647-830-5210 and my email is info@igorveric.com

Google Reviews

    
 
 
        
   ZHEFU QIU 
 2021-11-18
 
 
   Igor helped me to sell my property quickly above asking price. His professional skills are very impressive.
  
 
 
       
   Nina Mostic-soko 
 2021-10-27
 
 
   Igor is a wonderful person, caring, very trustworthy and a very smart agent. It was pleasure dealing with someone that is really knowledgeable and honest. He was always available and did not hesitate to help with any issues. We got his full attention and very professional advice. Combining his great knowledge and strategic thinking was a winning combination for us and if we were to go through this experience again we would definitely go with Igor. You are really getting the value for your money and impeccable service.
  
 
 
       
   Tav A 
 2021-10-08
 
 
   "Igor made our home selling process easy and smooth! His guidance and help was very much appreciated. We will definitely refer family and friends to Igor in the future. Igor was excellent. He was knowledgeable, helpful and made this process incredibly easy. We can not say enough great things about him!"
  
 
 
       
   Tili H 
 2021-08-23
 
 
   I would highly recommend Igor Veric as a Realtor because he goes above and beyond what most realtors would provide. He helped us every step of the way and was very resourceful as well. I used his stage designer which helped tremendously with the sale of our condo. His guidance and advice was appreciated as well. Igor is a friendly, knowledgeable and patient gentleman and I can't thank him enough for everything. He helped my husband and I sell our condo and buy a new home. This was extremely stressful but with his expertise we accomplished our goals successfully. We are so grateful to have used Igor as our Realtor.
  
 
 
       
   Kristina Berezovsky 
 2021-07-27
 
 
   I can't rave enough on the professionalism, attention to detail, care, and bove and beyond customer service Igor provided me and my family. Igor has helped me sell my property stress free. The knowledge and years of experience Igor has in the real estate market is superb and it shows.  He has helped me sell in the exact time frame I needed to and the price I wanted. I strongly recommend his services to help buy and sell to anyone.
  
 
 
       
   Kimberly Jones 
 2021-06-12
 
 
   Igor is a total closet pitbull.. Igor has such a professional approach and sound advice but when it comes time to negotiate and close a deal he goes in for the kill and does not intimidate easily.

The images and video presentation was top notch. Not to mention the brochures he made for the perspective buyers were very well done.

He was on top of everything from begging to end. And his constant check points were highly appreciated. He totally ensured we were on track with everything related to sales/moving and offered a ton of resources to assist.

Looking forward to many more deals with Igor, he’s fantastic.
  
 
 
       
   Alina Chiappetta 
 2021-05-21
 
 
   It was a great experience working with Igor. Highly professional, knowledgeable  and helpful in any way possible.

Highly recommend for anyone that would like to make their experience as smooth as possible without worrying.
Igor went beyond his responsibilities to assist us with the smooth closing.

Thank you Igor and all the best!!!
  
 
 
       
   Khwaja Jamil 
 2021-05-20
 
 
   Igor is extremely helpful and very professional. He helped to find my desired condo within very short notice. 5 star service.
  
 
 
       
   Rowena Celzo 
 2020-11-20
 
 
   Husband and I, highly recommend Igor's professionalism and quick responsiveness to any of our questions. House was sold quick and easy.
  
 
 
       
   Carlos Rodriguez 
 2020-10-15
 
 
   What can't be said about Igor? He's truly a professional with a wealth of real state knowledge and superb interpersonal skills. He assisted my wife and I with our first real state purchase 4 years ago. When we decided to get back in the market, we were hesitant about many things. The one thing we did not overthink was getting Igor's help. He helped us sell our home faster than we thought we would and got us above asking price. When purchasing our new place, he was there with us the entire way, answering our questions and providing clarity to our every doubt. If you are looking for real state help, don't look any further. His outstanding services will provide solutions to your real state needs. Igor, thanks for helping us find a new home, once again! Hope to cross paths again in the future.

Carlos and Melina
  
 
 
  
  
 
 
  Google rating score: 5.0 of 5, 
based on 15 reviews

ZHEFU QIU

2021-11-18

Igor helped me to sell my property quickly above asking price. His professional skills are very impressive.

Nina Mostic-soko

2021-10-27

Igor is a wonderful person, caring, very trustworthy and a very smart agent. It was pleasure dealing with someone that is really knowledgeable and honest. He was always available and did not hesitate to help with any issues. We got his full attention and very professional advice. Combining his great knowledge and strategic thinking was a winning combination for us and if we were to go through this experience again we would definitely go with Igor. You are really getting the value for your money and impeccable service.

Tav A

2021-10-08

"Igor made our home selling process easy and smooth! His guidance and help was very much appreciated. We will definitely refer family and friends to Igor in the future. Igor was excellent. He was knowledgeable, helpful and made this process incredibly easy. We can not say enough great things about him!"

Tili H

2021-08-23

I would highly recommend Igor Veric as a Realtor because he goes above and beyond what most realtors would provide. He helped us every step of the way and was very resourceful as well. I used his stage designer which helped tremendously with the sale of our condo. His guidance and advice was appreciated as well. Igor is a friendly, knowledgeable and patient gentleman and I can't thank him enough for everything. He helped my husband and I sell our condo and buy a new home. This was extremely stressful but with his expertise we accomplished our goals successfully. We are so grateful to have used Igor as our Realtor.

Kristina Berezovsky

2021-07-27

I can't rave enough on the professionalism, attention to detail, care, and bove and beyond customer service Igor provided me and my family. Igor has helped me sell my property stress free. The knowledge and years of experience Igor has in the real estate market is superb and it shows. He has helped me sell in the exact time frame I needed to and the price I wanted. I strongly recommend his services to help buy and sell to anyone.

Kimberly Jones

2021-06-12

Igor is a total closet pitbull.. Igor has such a professional approach and sound advice but when it comes time to negotiate and close a deal he goes in for the kill and does not intimidate easily. The images and video presentation was top notch. Not to mention the brochures he made for the perspective buyers were very well done. He was on top of everything from begging to end. And his constant check points were highly appreciated. He totally ensured we were on track with everything related to sales/moving and offered a ton of resources to assist. Looking forward to many more deals with Igor, he’s fantastic.

Alina Chiappetta

2021-05-21

It was a great experience working with Igor. Highly professional, knowledgeable and helpful in any way possible. Highly recommend for anyone that would like to make their experience as smooth as possible without worrying. Igor went beyond his responsibilities to assist us with the smooth closing. Thank you Igor and all the best!!!

Khwaja Jamil

2021-05-20

Igor is extremely helpful and very professional. He helped to find my desired condo within very short notice. 5 star service.

Rowena Celzo

2020-11-20

Husband and I, highly recommend Igor's professionalism and quick responsiveness to any of our questions. House was sold quick and easy.

Carlos Rodriguez

2020-10-15

What can't be said about Igor? He's truly a professional with a wealth of real state knowledge and superb interpersonal skills. He assisted my wife and I with our first real state purchase 4 years ago. When we decided to get back in the market, we were hesitant about many things. The one thing we did not overthink was getting Igor's help. He helped us sell our home faster than we thought we would and got us above asking price. When purchasing our new place, he was there with us the entire way, answering our questions and providing clarity to our every doubt. If you are looking for real state help, don't look any further. His outstanding services will provide solutions to your real state needs. Igor, thanks for helping us find a new home, once again! Hope to cross paths again in the future. Carlos and Melina

What’s the right pricing strategy when selling my home?