What You Need to Know Before Listing
When it comes to selling your home, most people think the only cost involved is the agent's commission. While that's a significant part of the process, there are several other costs that come with selling that can catch sellers off guard if they're not properly prepared. At Sutherland Real Estate, we believe in transparency, helping you understand all the costs involved so you can make informed decisions. Here’s what you need to know about the hidden costs of selling your home.
1. Home Staging Costs: We Believe in the Power of Presentation
One of the most important aspects of preparing your home for sale is ensuring it looks its absolute best. Home staging has proven to increase sale prices and reduce time on the market, and we’re proud to include this cost as part of our services for all our sellers.
Statistics from the Canadian Real Estate Association (CREA) back this up: sellers who stage their homes typically see an increase of 7-11% on their sale price and spend 73% less time on the market. Home staging can make a huge difference in how potential buyers perceive your property. Our team always includes this service because we believe in its value—it's an investment that can pay off significantly.
2. Repairs and Upgrades: Strategic Planning is Key
Repairs and upgrades can be a great way to increase your home’s value, but they need to be strategic. That’s why we always encourage our clients, whether they’re selling soon or in the future, to meet with us well in advance.
We provide a complimentary design consultation with our stager to create a personalized action plan that helps you focus on the areas that will yield the highest return on investment. A common mistake we see is sellers who begin renovations just before listing, often focusing on areas that don’t add significant value. With our guidance, we help you avoid costly mistakes and make sure every upgrade aligns with what buyers are looking for.
3. Agent Commission: Negotiable and Customizable to Your Situation
Agent commission is an important consideration when selling your home, but it’s important to understand that commission is negotiable. At Sutherland Real Estate, we offer a customizable plan designed to work with each unique situation.
What many sellers don’t realize is that out of nearly 80,000 realtors registered with the Toronto Regional Real Estate Board (TRREB), nearly half sell no houses at all each year, and 85% sold fewer than five houses in 2022. Experience truly matters, and often, agents who offer the lowest commission come with the least experience. Our team’s minimum requirement is two transactions a month, ensuring you work with agents who are experienced, motivated, and committed to getting you the best possible result.
4. Closing Costs: Get Prepared in Advance
During our initial consultations, we take the time to walk our clients through the closing cost expectations. Many people aren’t aware of the various fees involved, such as legal fees, transfer taxes, and other costs related to closing the sale.
To help you estimate these costs, we’ve included a handy closing cost calculator in our Seller’s Guide and on our website. We want to ensure that you’re not caught off guard and are fully prepared for all expenses involved in the process.
5. Decluttering and Temporary Storage Solutions
A huge part of prepping your home for sale is decluttering. A clean, open, and depersonalized space allows potential buyers to imagine themselves in the home, which can increase their emotional connection and ultimately lead to a higher offer.
If you’re struggling with where to put all your things while you’re selling, we have close relationships with local storage solutions to make this process easy, seamless, and affordable. Our team is committed to providing you with a stress-free experience from start to finish, ensuring that every step of the process is as smooth as possible.
Final Thoughts
Selling a home is an exciting but complex process that requires careful preparation. By understanding the hidden costs involved and working with a team you can trust, you’re setting yourself up for success. At Sutherland Real Estate, we’re here to guide you every step of the way—ensuring you get the best possible outcome while minimizing any surprises along the way.
If you’re thinking about selling your home, don’t hesitate to reach out to us. We’d love to help you prepare for a smooth, successful sale.