Selling (and buying) a home is one of life’s biggest decisions. It’s not uncommon for consumers to feel in the dark during the process, relying solely on their realtor to provide them with the insights and information they need to make informed real estate decisions.
Thanks to the availability of digital tools and data, consumers today have better and faster access to market insights and other information they need to take control of their real estate journeys.
Armed with the right tools and digital platforms, home sellers can use the latest tech for a more informed, personalized, transparent and convenient experience.
Furthermore, they can leverage the market insights these tools and data provide to create a selling strategy to increase their chances of a successful sale.
Here are three ways technology can help shape your selling strategy.
Knowing and tracking your home’s worth
One of the biggest advantages technology brings to home sellers is the ability to independently research your home’s value.
Online home value estimates can be used to determine your selling strategy by telling you the estimated value of your home. An instant home value estimate tool, combined with comparable sold prices in your neighbourhood, can provide a realistic picture of what your home is worth so you can get the best possible price for it.
Using your home’s distinct traits and real-time market data, homeowners can find the value of their house or condo in minutes. This can help sellers decide on an appropriate list price and determine what an acceptable offer might look like.
And if you’re thinking about selling in the future, you can keep track of your property to see how its value changes over time.
Leveraging local market data and agent-level insights
We’re all familiar with the saying “knowledge is power,” and when it comes to buying or selling a home, the more you’re in the know, the more control and confidence you have throughout the process.
Knowing your home’s value, what comparable homes in your neighbourhood have sold for, and having an understanding of local market insights can help you price your home for a successful sale.
When devising a selling strategy, monitoring the real estate activity in your neighbourhood can influence your decision about when to sell and how much to sell for. Consumers can compare sold prices with list prices for houses and condos to see which neighbourhoods are selling over and under asking prices.
Monitoring these underbidding and overbidding trends can help you decide if now is the right time to sell in your neighbourhood and settle on a competitive price. Monthly reports are available for different cities and regions throughout Ontario to show which areas are going for under and over list price.
Finding the right realtor
While technology is rapidly transforming how consumers can access information that traditionally was only available to realtors, it doesn’t replace the need for guidance, analysis, expertise, local knowledge and support.
Realtors can work with home sellers to use real-time market data about sold prices, trends and market forecasts to determine when to sell and how much to sell for.
Leveraging AI to streamline processes and use data effectively has emerged as a key trend among many proptech (property technology) companies. Getting matched with the right realtor is now possible due to advances in AI. This year, Wahi launched the first AI-powered realtor match system to connect consumers with the right realtor in their area with a proven track record.
Using the most accurate home value estimate, real-time data and agent-level insights can give you the competitive advantage you need to feel confident about the time you choose to sell and the price you decide to sell your home for.
Ultimately, though, the combination of the best tech tools with human expertise will help ensure your selling strategy is a winning strategy.
Benjy Katchen is the CEO of Wahi, a digital real estate platform that redefines real estate by giving control back to Canadians, including access to market data, agent-level insights on the latest listings, and the ability to match with top realtors in their area.