Reasons to Why A Home May Not Be Selling

Selling a home is not a simple task. It requires preparation, timing and strategies. Here are some reasons to why a home may not sell or sell as fast as one would like.

1) Photos Matter

Good photos of home are important as more and more buyers are looking and being introduced to properties online. Photographs taken by professionals can attract buyers. Ensure that the home is decluttered and consider staging it to make it look appealing and bigger.

2) An MLS Listing is Not Enough

In addition to an MLS listing, a home should be advertised on social media and directly to other real estate agents, locally and abroad. Foreign investors may be interested in Canadian real estate as they view it as a safe investment. It is important that a listing reaches every potential buyer.

3) The Price isn't Right

A home is likely to attract the most interest within the first two weeks of being listed for sale. If the home is overpriced, buyers may not be interested and look for other properties. It is important to be realistic when choosing a sale price. This can be achieved by looking at recent sales of similar homes in the area and newly listed homes in the area. Keep in mind that the longer a home remains on the market, the more likely people will wonder if there is something wrong with it.

4) Buyers Are Unable to Have a Look

A potential buyer may want to see a home late in the evening or other times that are not convenient for a seller. If the seller says no to showing times, the buyer will most likely move on to the next home for sale, where the owner is more accommodating.

5) The House Has A Stigma

There may be times when two homes look similar except one backs on to a ravine and the other to a hydro line. It is important to get feedback from people who have seen your listing but have decided not to put in an offer. If there is something outside of the home that is bothering them, either sit down with your seller clients and figure out how to address it or suggest the idea of adjusting the price.

Reference: Toronto Star Articles by Mark Weisleder (Toronto-Based Real Estate Lawyer)