As we head into 2023 and typically the years busiest real estate season (early spring and spring), the recent market softening has  left us all wondering what this year will look like in real estate?

In 2022, February and March were peaks in the Toronto real estate market with record prices, inflated to levels no one could have imagined and many homes selling in as little as 48 hours.  In April when The Bank of Canada did its first rate hike, the supply of homes was very low and homes were still selling rapidly, many with 10+ offers.  Fast forward a couple of months, and multiple rate hikes later, the Toronto real estate market hit a slump and many neighbourhoods saw a rapid 10-15% price drop.  Summer turned into fall, with little improvement and the Toronto Real Estate Board recorded 49% less sales year over year. However, there are new signs of positivity in the real estate world along with signals from the Bank of Canada that rate hikes will most likely be slowing down.

So what’s changing in 2023?

With any downturn, there’s an adjustment period, for both home buyers and home sellers. However, as we head into 2023, we expect to see more momentum in the market come late January early February. We might not be on the road to full recovery yet, but real estate is always in motion. With many people sitting on the side lines, immigration levels to reach an all time high in Ontario (Canada is set to welcome over 465,000 permanent residents in 2023) the market will be picking up.

When considering a home sale in a softer market where buyers are being more selective, its imperative to make your home shine and make it visible to as many potential buyers as possible! After all, no one wants to leave money on the table, especially when the formula is quite simple. Home preparation and strategic marketing, will always net you more money. 

What does marketing do for your home sale? How is it changing?

Gone are the days of the flyer in the mailbox, though many still do, how many of us actually look and and save those little flyers? We’d venture to guess, very few.  The best way to get your listing in front of as many people as possible is through online marketing.  This is where potential buyers will be shown your home as they scroll in the comfort of their own home, or office  or whoever they may be.  Online marketing is available 24/7 and with direct messaging options on various platforms, a potential buy just has to send a message and a connection is made. This strategy also gets the attention of people who may not even be considering buying or selling, yet they see their dream home in their instagram feed, and the wheels start turning.

Statistically, 81% of  buyers research online before making a big purchase, this is why it is key to have your home front and centre in the online house hunt.  Occasionally when people are thinking of buying and selling, we hear that friends and family are also invested in the house hunt. That is why it is a top priority to be visible and at the top of the list in the digital space. Here’s how to achieve exceptional marketing goals in 2023…

 Thinking about selling your home soon? Check out some of our selling resources here:

1) Get down to basics: Home preparation 101

This is the beginning of your marketing journey. You slack on getting your home ready for its debut and you might be walking away from 10’s of thousands of dollars. Unless you are selling a complete renovation project (and even then there are plenty of action items to make this renovation more attractive), you should make a list of all the items that need to be fixed and start checking them off one by one. Again, unless your home needs a complete gut job, buyers will be picky.  Home preparation is key to satisfy a buyers high expectations. Problem items that are lurking behind the walls, water problems, breaks, cracks, scratched floors, etc will all come out in a pre-list home inspection.  Easy projects you can take on on your own, are to declutter, donate and slap on a fresh coat of paint.  These steps will go along way in speeding up the home prep process down the line.  For our best tips on how to prep your home for sale, check out our blog How Long Does It Take To Sell A House In Toronto?

Learn more about home preparation by reading our winter to-do list for a spring sale right here. 

2) Beautify your home: Quality home staging is key!

Why wouldn’t you want your home to shine? Quality and strategic home staging is the key ingredient in making your home stand out above others online. This is where the amazing photo starts to take shape.

If we see another virtual stage we will scream – with virtual staging there is major disconnect of what buyer sees online and what they will walk into when they tour the home. If they have to question whether or not they are in the right house, chances are you already lost them.

The ultimate buyer experience goes something like this: Buyer sees stunning real estate photo of a home that obviously took care in preparing, they book a showing and when they view house in person, they are wowed by the presentation. This leads to them falling in love and the ‘must have’ seed is planted.

Having in-depth knowledge of the type of buyers in that neighbourhood will inform the staging strategy. This will result in more dollars to your bottom line. Meaningful home staging is the difference between these two statements: “Sold for over-asking, in record time” and “Unsold, on the market for weeks.”

  Discover the secrets of staging by reading our blog: 5 Staging Tips to Sell Your Home for More Money right here.

3) Layers of online marketing: More is more

There is more to online marketing than just a pretty picture.  With multiple layers of measured, strategized and proven tactics, an online listing will be seen by all the right people.  This includes professional copy writing optimized for SEO.  Ensuring the right keywords are used for the listing to pop up under many different search terms.  A solid social media presence, known for providing valuable information and the aforementioned pretty pictures. A realtor with a reliable social media presence known for new listings, neighbourhood information and real estate expertise goes a long way in creating trust with potential buyers and sellers. With all these pieces in place, the next layer is paid social  media ads.  These are targeted to specific buyers in certain demographics.  With these targeting ads, your listing will show up, seemingly organically, across multiple social platforms. An individual property website, with the address directly in the domain name, is an easy go-to for potential buyers to have a look at the listing, read the information as well as contact the realtor. An individual property website is so easy to share in an email to friends and family, as well as internationally. Though target advertising focusses mainly on local and close to local geography, an individual property website can be shared globally, allowing international relators to see your listing, as potential buyers can and sometimes do come from all over.

Online marketing is the most effective way to market a home, however lets to discount the powers of print marketing.  Putting together a beautiful portfolio of the listing is also an important step in real estate marketing.  This take-home of high quality, professional photos, alongside professional copy, neighbourhood stats and mortgage information is a piece of marketing that a potential buyer will like keep on hand after an open house. This is an easy to share asset a potential buy can refer to anytime they are not online. In fact, many people keep these packages as a keepsake of their home, both buyers and sellers. This is the real world version of

 Learn more about selling your home in the digital age on our blog here.

4) It’s all in the details: The marketing package explained

The strongest tool in the marketing arsenal is the professional photo.  From here, all other layers start to come together.  Though each piece of the marketing package is important, it is the professional photos that are going to pique the interest of any potential buyers. Without these gorgeous photos, its likely no one will be intrigued enough to read multiple paragraphs of copy about the home, this is a major factor in 2023 and moving forward.  The world loves pretty pictures, so it is important to get those scroll-stopping images out there. When these photos are seen and shared, it becomes essentially a combination of word of mouth and digital marketing all in one. In terms of social media algorithms, the more something is shared or saved, the more it is moved through the algorithm organically.  Win win! This is why a professional real estate photographer is so important.  Yes, smart phones do take a lovely picture, but a professional photographer knows your homes best angles, and what this type of photography requires to truly make a home shine.  High quality, high resolution photos ensure people stop, look, save and share.

5) Choose wisely: Hire a realtor who’s a marketing powerhouse

While interviewing a potential realtor, the question you should ask yourself is not ‘How much commission will you pay to the agent?’ but rather, ‘How much more money will you make if you hire the right agent?’ A full service realtor will offer you significantly more valuable marketing strategies and tools as well as home preparation, that will always make you more money. By full service, we mean a realtor with a solid plan for marketing your listing.  Someone with a professional stager, a professional real estate photographer, marketing strategy and industry connections.  To find out how to hire the right realtor for your needs, check out our blog Hiring The Right Realtors: Questions You Should Be Asking

If buying or selling real estate is in your sights in 2023, reach out to us today. We’d love to help you get the best results! Email us at hello@getnested.ca or call 416-909-1602 today!