QUICK HITS

 

• On Jan. 16, BCFSA confirmed B.C. Realtor, Ismail Jamal Jinnah, lost his license and was fined $10,000 after investigators found he manipulated a “vulnerable” client into selling her home.
• The investigation revealed Jinnah exploited a close personal relationship, pressured the client against her wishes and misled regulators about the nature of their relationship.
• In addition to the fines and license cancellation, Jinnah has been ordered to pay $67,000 in enforcement expenses.

A B.C. Realtor has lost his license and is facing a $10,000 fine after the province’s regulator found he manipulated a client into selling their home.

Ismail Jamal Jinnah behaved in a “predatory” manner when he took advantage of his personal relationship with a client to convince her to sell her home and earn an “above-market” commission, according to a December decision from the BC Financial Services Authority (BCFSA).

Summary of misconduct

The case centred on two real estate transactions in 2015. Jinnah established a “close, personal relationship” with a client who owned a detached home and despite her opposition, repeatedly pressured her to sell it, advising her it was a smart financial move. Jinnah failed to disclose his personal relationship with the client and convinced her to switch properties with another individual.

According to hearing documents, Jinnah’s client “trusted him, relied upon him, and was reasonably left with the impression that Mr. Jinnah was looking out for her best interests. Rather than looking out for her best interest, Mr. Jinnah refused to accept that (she) did not want to sell her house. He pressured and manipulated her to essentially switch properties…”

Hearing Officer Thelma O’Grady says the former Realtor took advantage of his client, “who, because she was in a close relationship with him and trusted him, was vulnerable. This type of behaviour can only be described as predatory.”

The decision also highlighted Jinnah’s financial gains, which totalled $39,000 in commissions. Additionally, he charged above-market fees without sufficient explanation and failed to adequately market the property, instead selling it directly to the second individual involved.

Investigation and regulatory violations

During a subsequent investigation in 2021, Jinnah attempted to mislead the regulator by mischaracterizing his relationship with the client. The decision emphasized the deliberate nature of his deception, “Mr. Jinnah’s statements… were a deliberate attempt… to mislead the investigative process.”

Jinnah was found guilty of breaching multiple sections of the Real Estate Services Rules and the Real Estate Services Act (RESA).

Impact on client 

The misconduct, described by O’Grady as “very serious,” involved Jinnah’s failure to act in the best interests of his client, a breach of conflict-of-interest rules and a deliberate attempt to mislead regulators during the investigation. “Taking advantage of a vulnerable client who is relying on you to act in their best interest is one of the most serious types of misconduct for a real estate licensee,” the decision states.

The decision also noted the emotional and financial harm caused to the client, who suffered anxiety, depression and embarrassment “for letting herself be coerced by Mr. Jinnah.”

“The actions of Jinnah to use a close personal relationship to manipulate a client into selling their home is unacceptable and demonstrates a clear disregard for the established ethical expectations for licensees and the regulatory regime that is designed to protect consumers,” said Jon Vandall, senior vice president of compliance and enforcement at BCFSA. “This behaviour was so predatory and egregious, BCFSA is issuing the maximum penalty available.”

Fines and penalties 

In addition to cancelling Jinnah’s licence and the $10,000 penalty, Jinnah was also ordered to pay more than $67,000 in enforcement expenses.

“Sanctions should be both protective and preventative,” O’Grady wrote. “They should be aimed first and foremost at achieving compliance and secondly at deterring repeat offences… and by others in the industry or by those considering entering the industry.”

Although Jinnah hasn’t practiced real estate since March 2024, BCFSA confirmed his license had been cancelled on Jan. 16. and that the misconduct would be reflected in his professional record.

Implications for the real estate industry

“Public interest is served by setting a penalty that communicates to Mr. Jinnah, the public, and other licensees that it is unacceptable for licensees to take advantage of clients and to mislead the regulator during an investigation,” O’Grady concluded.

Jinnah has the right to appeal the decision within 30 days.

Forward from the Editor

At REM, we often feature stories from industry professionals sharing their insights. We also love highlighting personal experiences that shed light on the emotional journey of buying and selling a home. This holiday season, we’re happy to share a story from Devin Meireles, a homeowner whose recent real estate adventure is one many of us can relate to—stress, surprises and, ultimately, success.

Devin’s journey explores the challenges of selling a home under pressure, the creative strategies Realtors employ and how a bit of faith (and a certain statuette) led to a serendipitous resolution. 

Buying and selling can be complicated, especially for those working with strict timelines to get the deal done. The risk in itself can deter clients from entering the market, considering how quickly things can change. Life has a knack for pouring when it rains, but for those who believe in miracles, sometimes everything can happen serendipitously.

Back in September, we successfully bought our dream home. Maybe it was an impulsive decision, but the opportunity to upsize from a modest bungalow to a two-storey home in our desired neighbourhood, with the added bonus of rate improvements, was too good to pass up.

That kickstarted the process of listing our current property, and with a looming deadline, things were stressful. God forbid we could not close on what we hope will be our forever home.

The waiting game and a desperate search for solutions

As days passed, we considered worst-case scenarios, and our anxiety was amplified. The down payment was riding on the sale of our home. So when things weren’t happening as quickly as we’d hoped, we sounded the alarm.

Our Realtor tried different strategies with no luck in what was a precarious time for Toronto’s housing market. Potential buyers came over to view the home, but we weren’t getting offers. The home was staged well, priced competitively, and had high visibility with great feedback each time. So why wasn’t it happening? We couldn’t figure it out, and comments from other agents further corroborated our sentiments.

With one month to go, our agent put out incentives and scheduled another open house with extended hours for more foot traffic. We stayed hopeful. Our family kept us in their thoughts, and an interesting video sent by my mother had us trying anything to get it done.

A statuette, a prayer and a turning point

TikTok described how Italians take faith in Saint Joseph to help sell their homes. All you need to do is bury a statuette of the patron saint in front of your home, upside down and facing outwardly to the sidewalk, with a promise of selling your home. After it sells, you need to dig the statuette up and take it to your new house as a show of gratitude.

Being Portuguese and raised Roman Catholic, the Italian advice was not that absurd. We were ready to try anything, and we were desperate. So we placed an order on Amazon for our own statuette. We figured why not, and our agent said, “What the hell!”

It was peculiar when the delivery did not arrive the next day, as typical with a Prime membership, nor that week for that matter. Apparently, coming from China, the little parcel only landed on our front porch a day before the anticipated open house. We scrambled to bury it and announced our intentions, doing our best to manifest a buyer.

From faith to final offers

Well, life happens in mysterious ways. Midway into that Sunday open house, our agent sent us a message, “Hi guys, very good turnout so far, very impressed. Busiest one yet.”

Compared to the prior weeks, the message was promising and gave us reason to be optimistic. We kept our composure and prayed that something would come of it. Later that day, as expected, our agent called us to provide an update.

She touted lots of visitors and some verbal interest. However, we were jaded after weeks of hearing similar comments, so we weren’t holding our breath. Suddenly, she mentioned that one of the visiting agents was calling on the other line. Our hearts skipped a beat.

Well, after she took the call, she reported back to advise that their client would be placing an offer as soon as the next morning. Hallelujah! Moments later, another agent sent a registered offer via email.

Sold and starting fresh

By the grace of whatever you want to call it, our house was sold that evening with a secured deposit the next day. It’s hard to explain how it all came about—either a weird coincidence or that little statuette made the difference. Regardless, we dug it up and took it with us on our move the next month.

Our agent thought it was amusing, but we couldn’t help but feel like there was something there. St. Joseph now sits atop the doorway of our forever home as a reminder that sometimes a little risk can be unsettling, the market can be a mysterious beast, but good things can happen in the most unexplainable ways if you have a little faith.

Photo courtesy Nina Dorion

The process of selling a home is challenging for most people, but for seniors, it can feel particularly overwhelming. For many, a house is more than a property; it’s a lifetime of memories, a place where they’ve raised families, celebrated milestones and shared countless moments. 

As the agent, helping seniors navigate this journey requires not only professionalism but also empathy, patience and an understanding of their unique needs. 

So, what steps can you take to support your senior clients in preparing their homes for sale so they can transition smoothly into the next chapter of their lives?

Understanding the emotional challenges seniors face

For seniors, selling their home often means leaving behind a long history filled with personal memories. Unlike younger sellers who may be ready for a new adventure, seniors are typically entering a downsizing or retirement phase, often due to health or financial reasons, or simply the desire to live in a more manageable space.

Approach each conversation with empathy, acknowledging that the process can feel like a loss. Open communication is essential; listen to their concerns, answer questions thoughtfully and avoid rushing them into decisions. Respect for their emotions and sensitivity to their needs can help build trust, which is crucial for a smooth experience.

1. Explain how the selling process has changed over the years

Seniors may not have sold a home in decades, so it’s essential to explain how the selling process has evolved. In past decades, home selling was simpler, with fewer digital elements, less staging and a more localized market. Today, buyers’ expectations are higher due to online listings, virtual tours, professional staging and high-quality photography.

Explain that these changes are designed to maximize their home’s appeal and increase its market value. Show them that these enhancements can lead to quicker sales and potentially higher offers, benefiting them in the long run.

2. Help them focus on decluttering and simplifying

Many seniors have accumulated belongings over a lifetime, making decluttering a daunting task. Before beginning the decluttering process, suggest that they take time to have a meaningful conversation with loved ones about items they would like to keep or be gifted. This way, they can feel confident that cherished belongings are going to those who will truly appreciate them, making the decluttering process smoother and less overwhelming. 

Have them start with one room at a time, setting small goals to avoid feeling overwhelmed. As their agent, you can guide them by suggesting they keep essentials and items of sentimental value while discarding, donating or gifting other items. 

For many sellers in this demographic, the downsizing and decluttering process can be time-consuming and emotionally taxing, especially if they’re attempting it on their own. Recommending a professional downsizing service can make a world of difference. These specialized companies not only offer hands-on assistance but also provide compassionate support to help ease the emotional weight of parting with belongings. They can significantly reduce the stress involved and ensure that cherished items are carefully handled and organized.

3. Recommend minor repairs and updates to boost value

Explain that minor repairs can make a big difference in how potential buyers perceive a property. Over time, small maintenance items may have gone unaddressed and fixing these can enhance the property’s overall appeal.

Recognize that senior clients may be working with a fixed income, which can make it challenging to fund home improvements that could significantly increase the sale price of their property. Explore creative solutions to help them access funds for these essential updates. 

Realtors know small but impactful improvements like a fresh coat of paint, updated lighting, and a clean-up of the front and back gardens can enhance a home’s value without requiring a full renovation.

4. Professional staging: Making the home appealing to buyers

Staging can be a game-changer when selling a property, as it helps prospective buyers visualize the home as their own. However, some seniors might find the idea of staging intrusive or unnecessary. Explain the benefits of staging in terms of creating a warm, welcoming atmosphere that appeals to a broader audience.

It’s important to emphasize that staging can often help homes sell faster and for a better price. Reassure your clients that staging doesn’t remove their home’s charm but instead enhances its potential by highlighting its best features.

Partner with a staging firm experienced in working with seniors and skilled in compassionate, clear communication. A team that understands the unique needs of senior clients can help make the staging and selling process feel supportive rather than overwhelming. 

5. Consider their comfort during showings

One of the unique challenges seniors face is the inconvenience of regular showings. Constantly preparing their home and leaving for showings can be tiring and disruptive, especially for those with mobility challenges or health concerns.

In this instance, arrange showings in blocks or set specific times to minimize disruptions. Prepare and provide a simple checklist for your clients, with reminders to tidy up quickly, check lights and hide personal items before showings. Better yet, show up in the early days of the listing to help them and guide them through the process to reduce the stress and overwhelm.

6. Educate on the market and set realistic expectations

Older homeowners may have outdated expectations about their property’s value, so providing a market analysis and realistic expectations is crucial. Avoid overwhelming them with data; instead, present a simple comparative market analysis to explain what similar properties in the area are selling for.

Explain that the market can be influenced by many factors, such as location, condition, and buyer demand. Set realistic expectations about the selling timeline and potential offers, as this can help prevent disappointment and frustration.

7. Support and follow-up after the sale

After the home is sold, offer to help connect them with reputable moving services who understand the needs of seniors, and offer support for their transition into their new living situation. Reach out to ensure they’re settling in comfortably and ask if they need additional help. This gesture of ongoing support builds trust and fosters long-term relationships. Plus, it can lead to referrals from family members and friends.

Why compassion and understanding matter

Helping seniors sell their homes is not just a transaction—it’s an opportunity to be a trusted guide during a significant life transition. 

Realtors who approach this process with sensitivity and empathy can make a world of difference. By building trust, setting realistic expectations, and offering tailored resources, you’ll not only ensure a successful sale but also make the experience a positive and memorable one for your senior clients.

No query is too big or small — if it’s about elevating the look of your real estate, we want to hear it and we want to help! Email your questions to ninadoiron@isodesign.ca

As a real estate agent, one of the key challenges you may face when helping clients sell their homes is ensuring the property remains show-ready at all times. While staging is an excellent way to present the home in its best light and attract buyers, it can be difficult for sellers to live in a staged home, especially when balancing busy lives. But don’t worry — there are plenty of strategies to help sellers keep their homes ready for showings while minimizing stress and maintaining comfort.

Here, we’ll explore tips for sellers on how to live comfortably in a staged home, keep the property show-ready and avoid potential pitfalls. With your expert guidance, your clients can increase their chances of selling quickly and for top dollar.

Why it’s important to keep a staged home show ready

First, it’s important to emphasize to sellers why keeping their homes in pristine condition during the listing period is essential. A staged home is designed to appeal to the emotional triggers of potential buyers. A clean, well-organized space helps buyers imagine themselves living in the home, which can lead to quicker offers and higher sale prices.

However, one messy or cluttered space can break that emotional connection for buyers. When they walk into a home that’s untidy or doesn’t look like the photos they saw online, they can become distracted by the clutter and may focus on negatives rather than the home’s best features. That’s why sellers must maintain the home in show-ready condition at all times.

Tip #1: Create a daily routine to stay show-ready

A daily cleaning and tidying routine can help sellers keep their homes looking fresh without the need for a deep clean every time there’s a showing. Encourage your clients to set aside 10-15 minutes in the morning before heading off to work and another 10-15 minutes in the evening to quickly tidy up common areas, wipe down countertops and do a quick vacuum or sweep if needed.

This daily routine can prevent messes from piling up and help your clients feel more in control of their space. Consider sharing a checklist of high-priority tasks to focus on daily, such as:

• making the beds (use photos taken on staging day as a reference to restyle the bed)
• clearing off countertops
• putting away toys, clothes and personal items 
• wiping down kitchen and bathroom surfaces
• emptying the trash
• checking for pet messes or odours

Tip #2: Pre-pack personal and non-essential items

Encourage sellers to think of the staging process as the first step of moving. Ask them to pack away personal items, non-essential decor and excess furniture that could make the space feel cluttered or personalized. By doing this in advance, they’ll have fewer items to worry about maintaining and will make the home feel more neutral for potential buyers.

Not only does this help declutter, but it also reduces the number of personal belongings sellers have to organize every day. Plus, it gives them a head-start on moving once the home is sold!

Tip #3: Implement organizational systems

Having organizational systems in place can make a world of difference for sellers living in a staged home. Encourage them to invest in storage solutions like decorative baskets, bins and drawer organizers to keep essential items easily accessible but hidden from view.

Here are a few quick organization ideas that can help:

• baskets for storing items like shoes, blankets and kids’ toys in living areas
• bins or baskets inside closets to hide clutter
• drawer organizers in bathrooms and kitchens to keep counters clear but necessities closeby
• decorative trays on coffee tables or countertops to display essentials (like remote controls) in a stylish, controlled way

Tip #4: Designate ‘off-limits’ areas

If possible, recommend that sellers designate one or two rooms or spaces where they can store personal items and daily clutter when showings are scheduled. A basement storage room, garage or even an out-of-the-way guest bedroom can serve as a quick spot for stashing toys, laundry or paperwork before buyers arrive. Remember, this doesn’t mean that they should toss these items into the space — these storage spaces should always be neat and tidy.

This strategy can ease stress and provide a sense of relief for families who still need a bit of extra space for daily life but want to maintain the overall appearance of the home.

Tip #5: Be prepared for last-minute showings

Showings can often be scheduled with little notice, which can catch sellers off guard, especially during busy weekends. To help them prepare for this, encourage your clients to keep a “showing emergency kit” ready with supplies they can use for last-minute touch-ups.

The kit could include:

• a microfiber cloth and multi-surface cleaner for quick wipe-downs
• a lint roller for furniture
• air fresheners or room sprays to neutralize odours
• a laundry basket to quickly gather and hide personal items
• a small vacuum or broom for fast floor touch-ups

By having these essentials ready to go, sellers can clean up quickly and feel more confident when a last-minute showing request comes in.

Tip #6: Keep pets and pet items under control

While many buyers are pet lovers, not everyone appreciates the presence of pets during a showing. To appeal to as many potential buyers as possible, advise your clients to manage their pets’ presence and belongings during the listing period.

Pet management could include:

• arranging for pets to be taken out of the house during showings, either to a neighbour’s home, to daycare or on a walk
• keeping litter boxes, pet beds and food bowls clean and out of sight
• neutralizing pet odours with air fresheners or odour-eliminating sprays

Tip #7: Maintain outdoor spaces

Don’t forget about curb appeal! The exterior of the home is just as important as the interior, so sellers should keep outdoor spaces clean and tidy as well. This could mean mowing the lawn, sweeping the porch, clearing walkways and even adding seasonal plants or fresh flowers to the entryway. Yard maintenance should be done on a weekly basis. 

If sellers are too busy for this, encourage them to consider outsourcing the task to a local yard maintenance company. It’s important to remember that the condition of the outdoor space is often a good representation of the indoor space. Both should be show-ready at all times. 

Why it’s worth the effort

While it may seem like a lot of work to maintain a staged home, the effort is well worth it. Homes that are kept clean, clutter-free and neutralized for buyers tend to sell faster and for higher prices than those that aren’t. By following these practical tips, sellers can live comfortably in their staged home and ensure that it remains show-ready, allowing them to maximize the potential of their sale.

As a real estate agent, your role is crucial in guiding sellers through this process and providing them with the support and advice they need. The result? A smoother selling experience and happier clients.

Got home staging questions for a future column? Submit them to ninadoiron@isodesign.ca

Welcome to Ask A Stager, your regular staging advice column designed exclusively for real estate professionals. Whether you’re grappling with how to enhance the visual appeal of your listings or seeking innovative strategies to captivate your target audience, you’ve come to the right place. Ask A Stager offers you the opportunity to pose any and all staging-related questions and receive expert advice, for free.

No query is too big or small — if it’s about elevating the look of your real estate, we want to hear it and we want to help! Email your questions to ninadoiron@isodesign.ca

As real estate professionals, guiding your clients through the home selling process is crucial to ensuring a smooth and successful transaction. One key aspect of this process is pre-sale preparation, which can significantly impact the property’s appeal, market time and final sale price. 

Start prepping 1-6 months out

A common question about this from sellers is, “How far in advance should we start preparing our home before listing?” The answer depends on several factors, including the condition of the property, the local market conditions and the level of preparation needed.

However, a general guideline is to begin the pre-sale preparation process at least one to six months before listing the property. This timeline allows ample time for a comprehensive approach, ensuring the property is market-ready and maximized for its potential while minimizing stress and overwhelm.

Here’s a step-by-step plan to help sellers prepare for a successful sale.

Step 1: Initial consultation and planning (1-3 months before listing)

Objective: Obtain expert insights on the property’s condition and create a tailored action plan to strategically invest time and resources, maximizing return on investment (ROI) in key areas.

Start the process by engaging with a professional home stager to provide an in-depth consultation with the sellers. During this meeting, the stager will evaluate the property’s current state, including both interior and exterior conditions. Discuss the local market trends and the target demographic for the area.

Based on these factors, a tailored plan will be created to include necessary repairs, upgrades and staging strategies. It’s also essential to discuss the budget and timeline, ensuring that the sellers understand the potential ROI for each proposed improvement.

Step 2: Decluttering and deep cleaning (1-3 months before listing)

Objective: Create a clean and clutter-free environment to highlight the home’s best features.

Decluttering is one of the most effective ways to prepare a home for sale. Advise the sellers to begin by sorting through their belongings and deciding what to keep, donate, sell or discard. This process can be time-consuming, so starting early is crucial. 

If this step feels overwhelming or emotionally taxing, suggest that your client hire a professional home organizer or move manager. These experts can often declutter the entire house within a week, whereas it might take sellers months or even years to accomplish the same task, depending on the home’s size and the volume of belongings.

Once the home is decluttered, recommend a deep cleaning of the entire property, including carpets, windows and hard-to-reach areas. This task should be done prior to staging day. A clean home not only looks better in photos but also creates a positive first impression during showings.

Step 3: Repairs and maintenance (1-2 months before listing)

Objective: Address necessary repairs to prevent buyer concerns and maximize the property’s value.

Minor repairs and maintenance can make a significant difference in how buyers perceive the property. Hire a professional inspector to complete a pre-sale inspection to identify any issues that might be raised during a buyer’s inspection. 

During peak season, securing handyman services can be challenging due to high demand. To avoid delays, it’s crucial to plan and schedule these services well in advance. This will help ensure that all necessary repairs are completed before the listing date, allowing your property to be market-ready on time.

Addressing these repairs beforehand can prevent potential deal-breakers and avoid last-minute negotiations. Common repairs include fixing leaky faucets, repairing broken tiles, patching holes in walls and ensuring all appliances and systems are in good working order.

Step 4: Cosmetic upgrades and improvements (1-2 months before listing)

Objective: Enhance the property’s visual appeal and update outdated features.

Cosmetic upgrades can provide a high ROI by making the property more attractive to buyers. Suggest neutral paint colors to appeal to a broader audience and replace outdated fixtures or hardware. Consider recommending cost-effective updates such as new light fixtures, updated cabinetry hardware and modern faucets. These small changes can significantly improve the overall aesthetic without a substantial financial investment.

If the home feels outdated and the budget permits, consider updating the kitchen and bathrooms. While a full renovation might be costly, there are budget-friendly improvements such as painting the cabinets, changing out the hardware and replacing the countertop that can significantly enhance the perceived value for buyers.

Step 5: Landscaping and curb appeal (2-4 weeks before listing)

Objective: Make a strong first impression with well-maintained exterior spaces.

Curb appeal is a critical factor in attracting potential buyers. As the saying goes, the first impression starts at the curb.

Advise sellers to invest in landscaping, including trimming bushes, mowing the lawn, planting flowers and adding fresh mulch. Clean and spray the driveway, repair walkways and consider painting or replacing the front door if needed. 

Keep in mind that a home’s exterior often sets the tone for what buyers can expect throughout. A welcoming exterior can increase the number of showings and the property’s perceived value.

Step 6: Staging and professional photography (1 month before listing)

Objective: Showcase the property’s best features and create an emotional connection with buyers.

Staging is an essential marketing component of the selling process. Engage a professional stager to arrange furniture and decor in a way that highlights the property’s strengths and minimizes any weaknesses. 

Similar to handyman, painter and contractor services, professional stagers are also in high demand during peak season. It’s crucial to book their services early to ensure your target listing date stays on track and doesn’t get delayed. The actual staging date should be scheduled for no later than 2-3 days ahead of the target listing date.

The goal of professional staging is to create a neutral yet inviting space where potential buyers can envision themselves living. Once staging is complete, get professional photography to capture high-quality images for the listing. Excellent photos are vital for online listings, as they are often the first impression buyers have of the property.

Step 7: Final preparations and marketing (1-2 weeks before listing)

Objective: Ensure all aspects of the property and marketing materials are ready for the market.

In the final weeks before listing, review all aspects of the property and marketing strategy.

Ensure that all repairs, upgrades and staging elements are completed and in place. Prepare all necessary marketing materials, including listing descriptions, floor plans and virtual tours. Plan the launch strategy, including open houses and targeted online advertising, to generate maximum interest from potential buyers.

Starting the pre-sale preparation process one to six months before listing gives sellers ample time to address all necessary aspects of getting their home market-ready. Guiding your clients through this timeline ensures that the property is presented in the best possible light, ultimately leading to a quicker sale and a higher final sale price. Early preparation allows for thoughtful decision-making, budgeting and execution, reducing stress and maximizing the property’s potential in a competitive market.

By following this step-by-step plan, sellers can approach the market with confidence, knowing their property is well-prepared and positioned for success. As a real estate professional, providing this level of guidance and support not only benefits your clients but also enhances your reputation as a knowledgeable and reliable professional in the industry.

Got home staging questions for a future column? Submit them to ninadoiron@isodesign.ca

Wahi’s 2024 Homebuyer Intentions survey found that two of the top reasons Canadians sell their homes are about size. Contradictory to much talk about high living costs and interest rates, affordability wasn’t a top motivator.

The survey asks Canadians if they plan to put their homes up for sale over the next few years and why. It found that 11 per cent of homeowners who say they plan to sell within the next five years will do so at least partly because of financial strain or to repay debt (including mortgage debt).

“While it’s a challenging time whenever someone is forced to sell their home, the survey results indicate that this remains relatively uncommon in the Canadian housing market compared to other reasons for selling,” says Wahi CEO Benjy Katchen. “The Bank of Canada’s recent rate cut should also provide some relief for homeowners,” he adds.

Downsizing: Biggest reason Canadians choose to sell

Respondents could choose from multiple reasons for selling, and their responses varied greatly by age. The biggest reason to sell was downsizing (37 per cent):

“The fact that downsizing is a priority for so many home sellers only makes sense given Canada’s aging population,” Katchen explains. He notes that just 1 per cent of downsizers were aged 18 to 34, 30 per cent were aged 35 to 54 and the majority (69 per cent) were aged 55 and up. 

Chosen by 25 per cent of respondents, upsizing was tied with relocation as the second-most popular reason for selling. About 94 per cent of those looking to upsize are 18 to 54 years old, with 6 per cent of those aged 55 and up looking for the same.

Of those looking to relocate, the primary reason (cited by 53 per cent) was to seek a better quality of life. This was more common for rural community dwellers (62 per cent) than for urban dwellers (51 per cent).

Ideal market conditions: Most important in getting desired sale price

Of the respondents planning to sell within five years, they cited their three most important priorities or steps to achieving their desired sale price, from a list of seven.

About 23 per cent say waiting for the right market conditions is most important, followed by a tie between renovations or repairs and finding a good realtor (both at 16 per cent).

Only 15 per cent said waiting for appealing interest rates was most important to them, while home staging, seasonality and enhancing curb appeal were cited as most important by 9 per cent, 7 per cent and 7 per cent, respectively.