Spring market can be intimidating—or exciting—to some buyers. There is a lot of speculation and heightened emotions that can impact your judgement. We think there are 4 helpful tips you can follow to make the most of your time in-market, and get ahead of the competition. Keep reading to find out.

1. Know the market

There are certain perceptions of the real estate market in spring, but the truth is that markets always vary. To be certain about the approach you should take, you’ll want to look at current trends and stats that give you a good idea about how the market is moving.

Keep in mind the best time to buy is when it’s most appropriate for you. Don’t be swayed by alarmist headlines or market rumours. Trust your realtor’s professional opinion about market conditions and plan your strategy along your own timeline.

2. Be prepared for competition

While many homeowners prefer to list their properties in the warmer months, spring is also when buyers tend to do the most shopping. Knowing that there will be greater competition during your home search means you need to be extra diligent with your process.

Make sure you have financing in place before you start your search, be prepared to act fast if you find a home you like, and work with your agent to make sure you present offers that stand out. Partnering with a realtor who is extensively familiar with your preferred neighbourhoods will be able to give you a competitive edge when it comes to bidding on potential properties.

3. Don’t be afraid to negotiate

Sellers know that buyers are out in full force once the snow melts, so listing prices can often exceed the true value of some homes. Knowing this puts you in a strong position to negotiate, as long as you have a competent realtor who knows how to accurately evaluate real estate.

If you’re going to try to talk down the price, you’ll want to have something else to offer the seller. For example, if your realtor is able to assess that the home is in excellent condition, you might consider skipping conditions of an inspection in your offer (a commonly added stipulation) which will speed up the sale process and therefore make your proposal more attractive.

4. Know the seller

This strategy comes down to having a sharp realtor on your side. It’s one thing to be able to evaluate a home, but being able to uncover details about the homeowner, including their motivations for selling, is going to help you craft a stronger offer that positions you ahead of other buyers. Understanding the seller’s background means you can find out what stipulations to include—or not include—in your offer to make it most appealing.

A realtor with a strong network usually has good relationships with other agents in the city, and this means easily getting inside information about a listing that other buyers won’t have the luxury of knowing. A realtor’s network effectively becomes your network while you are partnered. Be sure to do your research on potential agents well before you plan to enter the market.

We feel these 4 important market tips can help you have a smooth transaction. Make sure you work with a realtor who has considerable Toronto market experience, a reputable network, and is familiar with your favourite neighbourhoods.

Be sure to get updated information about the current market, be prepared for possible competition, and research the seller as much as the property to give yourself a leg-up. Looking for real estate representation? Contact our team for Toronto market advice you can trust.