What Every Helper Needs to Know

Helping a senior loved one sell their home isn’t just about real estate – it’s about managing a significant life transition with care and understanding. Whether you’re a family member, friend, or trusted advisor, our comprehensive guide will help you navigate the complexities of selling a senior’s home in Toronto.

In this guide, we’ll explore:

• Starting the Conversation
• Timing Considerations
• Options for Selling
• Preparing the Home for Sale
• Working with a REALTOR
• Understanding the Costs
• Working with BREL

Starting the Conversation

Before diving into the logistics of selling, it’s crucial to approach the topic thoughtfully. Many seniors have lived in their homes for decades, and the prospect of moving can be overwhelming.

How to Approach the Topic

• Wait for natural openings in conversation (complaints about stairs, maintenance, etc.)
• Focus on the benefits of change rather than current challenges
• Use “I” statements: “I’m concerned about…” rather than “You need to…”
• Be patient – this may require multiple conversations over weeks or months
• Include other family members or trusted advisors when appropriate

Related: Having “The Talk” About Downsizing

When Is the Right Time to Downsize and Sell?

The number one regret we hear from our senior downsizing clients: they wish they’d done it sooner.

So how do you know when it’s the right time? Key signs include:

• Health and safety concerns are increasing
• Home maintenance is becoming overwhelming
• Social isolation is a growing concern
• Financial pressures from maintaining a larger home are mounting
• Multiple rooms are no longer being used
• Home repairs are being neglected
• Mobility issues are making parts of the home inaccessible

The Buy/Sell Dilemma: Which Comes First?

There’s no one-size-fits-all answer, but here’s what to consider:

Sell First:

• Advantages:
  • Know exactly how much money is available for the next phase
  • No pressure to accept a lower offer
  • Clearer timeline for the move
• Challenges:
  • May need temporary housing
  • Additional move might be required
  • Market pressure to find the next home quickly

Buy First:

• Advantages:
  • Only one move required
  • No temporary housing needed
  • More time to prepare the current home for sale
• Challenges:
  • Bridge financing may be required
  • Potential carrying costs of two properties
  • Pressure to sell quickly could lead to accepting a lower price

In our experience, our senior downsizers tend to prioritize finding their next home before selling.

Related: Should You Buy or Sell First?

Should You List it While Vacant?

One of the big decisions you’ll need to help make is whether or not to list the home for sale while it’s occupied.

Related: All About Selling a Vacant Home

Seasonality in the GTA Market

While homes sell year-round in Toronto, timing can impact your strategy:

• Spring-ish (February-May):
  • Typically highest number of buyers
  • Best time to showcase gardens and curb appeal
  • More competition from other sellers
• Summer (June-August):
  • Market typically slows in late July/August
  • Good weather for moving
  • Less competition from other sellers
• Fall (September-November):
  • Second-busiest season
  • Weather still favorable for moving
  • Buyers often want to move before holidays
• Winter (December-January):
  • Fewer buyers but often more serious
  • Harder to showcase outdoor spaces
  • Weather can complicate moving plans

Related: When Is The Best Time to List My Home for Sale?

Options for Selling

Most downsizing seniors consider three options to sell their home:

1. Selling/Renting to Family

Some downsizing seniors don’t want to list their house for sale – they simply want to sell it to a family member. If you’re considering this option, remember:

• Set clear goals and expectations
• Involve family members who may be impacted
• Engage a REALTOR or home appraiser to provide the current market value of the home
• Discuss financial implications with a trusted financial adviser
• Hire a great lawyer to provide independent legal advice and coordinate the transaction

2. Exclusive Listing

An exclusive listing is when a Seller enters into a listing agreement with a brokerage, but the listing does not appear on the MLS. The listing agent (and everyone in their brokerage) has the exclusive right to find the buyer. While exclusive listings don’t always yield the highest price, they do offer:

• More privacy
• Controlled showing process
• Less disruption for the senior

Related: Should You List Your Home Exclusively?

3. MLS Listing (most common)

Most homes listed for sale with real estate brokerages in Toronto are listed on the Multiple Listing Service (MLS), where every REALTOR can access the details and show the home.

• Advantages:
  • Maximum market exposure
  • Potentially higher sale price
  • Clear market feedback
  • Transparency for all family members
• Considerations:
  • More showing traffic
  • Need for preparation and staging
  • Less privacy
  • More rigid timeline

Preparing the Home for Sale

One of the most helpful ways to help your downsizing relative is to spearhead/assist in decluttering and preparing the home. It’s often the most stressful and time-consuming part of the process.

Decluttering

• Start with the least emotional spaces first – think spare bathrooms, laundry rooms and the garage – before tackling areas filled with memories.
• Create a simple system using coloured stickers to sort items into four categories: Keep (must-haves and true heirlooms that will fit in the new space), Donate (gently used items), Sell (valuable pieces worth the effort), and Toss (damaged or outdated items).
• Be patient: Remember that decluttering a lifetime’s worth of belongings can’t be rushed – we typically recommend starting this process 2-3 months before listing.
• Bring in a professional: Hiring a Professional Organizer or Senior Move Manager can simplify the process and reduce family tensions.

Related: Where to Donate, Toss and Sell Your Unwanted Stuff

Related: Downsizing Your Belongings: Making the Tough Choices

Repairs and Updates

It’s easy to over-repair and over-renovate a home before it’s listed for sale. Your REALTOR will be a critical resource to help you understand what needs to be done, what’s a nice-to-do-if-time-and-money-allow, and what can be ignored. They’ll also be able to connect you to trusted professionals who can do the work.

Related: 10 Best Budget-Friendly Updates to Make Before Selling

Related: Don’t Waste Your Money on These Pre-Sale Fixes

Working with Stagers

At the BREL team, we believe in professional staging  – so much so that we own a staging company, have a warehouse full of furniture and accessories and include the staging cost in our commission.

But staging isn’t always the right decision when selling a downsizing senior’s home. It can add emotional and logistical challenges to an already complicated process, and if the house is dated and needs significant renovation, staging might hurt rather than help the sale. There are also costs to consider if your agent doesn’t include staging in their services.

Related: Staging FAQ

Working with a REALTOR

One of the best ways you can help your ageing loved one downsize and sell their home is to encourage them to bring in a REALTOR ASAP. We often counsel sellers and their families for 3-6 months before a sale and, sometimes, for 12 months or more. Downsizing is a process that takes time – and patience is needed by all parties at all stages of the sale.

You can also help interview and select the right REALTOR to help with the sale. The right agent:

• Has experience with senior sellers
• Understands Power of Attorney situations
• Provides all-inclusive services like cleaning, staging and professional referrals
• Can provide senior-specific resources
• Demonstrates patience and empathy
• Has a strong reputation (check RECO and online reviews)
• Communicates effectively with all family members
• Is flexible to work around schedules
• Has proven marketing acumen and digital marketing skills
• Provides regular updates
• Understands the emotional and logistical challenges of senior sales

Related: How to Help Your Aging Relatives Hire the Right REALTOR

Understanding the Costs

Your REALTOR will play an essential role in helping you/your relative understand the costs involved in downsizing and selling a home. Some things to consider:

• Real estate commissions
• Home preparation costs
• Cleaning services ($300-1,000)
• Professional staging ($0-10,000+ if not paid by agent)
• Professional downsizing services ($500-3,000)
• Junk removal ($500-2,000)
• Storage units if needed ($150-300/month)

Closing Costs and Legal Fees

• Legal fees ($1,500+)
• Mortgage discharge fees or penalties (if applicable)
• Moving costs ($2,000-5,000+)
• Bridge financing if needed
• Capital gains tax (if applicable)

Working with BREL: Tailored Solutions for The Next Chapter

At BREL, we understand that selling a senior’s home requires a unique approach. We also know how it affects the friends and family who love them – and we’re here to help! Our team offers:

• Dedicated, experienced senior transition specialists
• Flexible schedules and showing arrangements
• Regular family updates
• Coordination with downsizing services
• Connection to senior-focused professionals and trusted home pros
• Professional staging (included in our commission)
• Custom marketing focused on reaching the right buyers, in the right places. You’ll find us on Facebook, Instagram and TikTok – and more than 75,000 people visit our website monthly.
• Patient, empathetic approach
• Experience with estates and POAs
• All-inclusive commission (including cleaning, staging, home inspections and more)
• Support throughout the entire process
• Buyer and tenant services for seniors

We’re here to help make this transition as smooth as possible for everyone involved. If you need to help an aging relative with a home sale in the Greater Toronto Area, text or email us to get started.