There’s nothing more disappointing than expecting your house to sell fast, yet here you are, weeks later, and not a single bite. And hardly any showings!
You’re probably asking yourself: what’s going on?
If this is you, and your house has been on the market for at least a month or more, it’s time to make some changes. To get top dollar for your home, you need it to sell within the first 30 days. Every day that passes and your house doesn’t sell, statistically speaking, it’ll end up selling for less.
Read on to learn 5 surprising reasons why your home may not be selling—and what you can do to get the deal signed faster.
Reason #1: Your Asking Price is Too High
If your home is in tip-top condition, your asking price is likely too high. Even in a strong seller’s market, buyers pay close attention to pricing. 54% of agents can tell you at least one story about home buyers backing out of a deal because of inflated home values.
So, how can you tell if your home is overpriced? Aside from partnering with a trusted realtor with experience selling homes in your area, you need to predict what buyers would pay. A realtor can help you review recent sales in the area and make changes to your property based on the competition.
Get the Deal Signed Faster By
Browsing local listings for comparison shopping, then lowering your price. The National Association of Realtors announced that 22% of recent sellers closed the deal after just one price drop.
How much you should drop the price depends on your audience. If your house is getting a ton of showings without any offers, a 1% drop may entice the right buyer. But if you have little showings, you’re best to drop by at least 2-3%.
Reason #2: Your Staging is All Wrong
The whole purpose of having showings and open houses is for people to get a natural feel for your home. You want them to imagine themselves living their life, with their stuff, in your home. So if you have loads of knick-knacks lying around, personal photos plastering the walls, or toys scattered from room to room—you’re not painting a lovely picture for your potential buyer.
When you don’t stage a home properly, it can appear cramped, cluttered, and small. A staged home typically sells for 20% more and up to 88% faster than an unstaged one.
Get the Deal Signed Faster By
Decluttering, depersonalizing, and deep cleaning your house before putting it on the market. Pack all your belongings, so only essentials are insight. Expert stagers recommend removing 50% of your stuff from the house.
Minimize every room as much as possible. Buyers want to see open space—not your stuff. So for the best DIY staging, focus on minimizing distractions, maximizing layout, and highlighting your home’s best features.
Once you’ve decluttered and depersonalized, you’ll have an easier time noting what needs to be fixed, repaired, and deep cleaned.
Reason #3: You Neglected Curb Appeal
Your buyers see two things when they pull up to your home: the front of your house and your lawn. If you haven’t mowed the lawn and pulled the weeds, or if the outside of your house looks uncared for, most buyers will keep on driving. They base their opinion of the inside on how well you tend to the outside.
Painting, pressure washing, a fresh cut lawn, and some potted flowers can increase the sale of your home by thousands of dollars. A well-landscaped home is valued anywhere from 5.5% to 12.7% higher.
Get the Deal Signed Faster By
Making the outside of your home shine. Upgrade your landscaping, work on getting your grass to a nice shade of green, plant some flowers, and repair anything on your home’s exterior that looks faded, broken, or weathered. Finally, go all out and paint your front door blue—it’s the most popular color for doors right now!
Reason #4: There are Unresolved Issues to Address
Your realtor is extremely beneficial during your showings. They’re there to show potential buyers around and get feedback on the home. A realtor will ask buyers what they think, and if the response isn’t positive, a good realtor will dive in for more details and ask things like, “What’s wrong with the home?” or “ “What can we change to make you want to buy this home?”. These details are invaluable for getting the best dollar.
Get the Deal Signed Faster By
Listening to what people are saying. If you hear about a recurring issue, it’s time to take action. Anything small like people saying it’s too dark can be fixed by adding some lighting, making sure all blinds and curtains are open, and cleaning the windows.
But sometimes, the issue may be more extensive and will require a little more work, like if they’re pointing out cosmetic flaws or major repairs. You should always address your buyers’ issues, even if it means investing a little more time or money into renovations—what may seem minor to you can make or break your sale.
Reason #5: Your Listing Photos Are Poor Quality
Phone cameras may have replaced digital cameras for everything else, but this is one situation where phone quality photos just won’t do. A professional presentation through images and videography always leads to more showings, even for fixer-uppers.
The National Association of Realtors suggests that 89% of buyers choose professional listing photos as the most important website feature while searching for their next dream home.
Get the Deal Signed Faster By
Upgrading your listing photos to professional ones. Speak with your agent about adding a video listing or 3D walkthrough. Most agents have connections through local photographers. This small investment can significantly increase your ROI.
Not Sure if Your Home is Ready for the Competitive Market?
The longer your house goes without selling, the less cash you’ll receive when it finally sells. If you’re in the Toronto or GTA area and looking to partner with a trusted realtor who can help get you the best dollar for your home, let’s chat.
Since 2008, Joel Cooper has helped countless people transition their lives from one home to another. With a transparent process, full disclosure, and unparalleled communication, you can count on meaningful results.
Hi, I’m Joel, a real estate professional based in Toronto.
My approach is simple—I put you first. I believe in open communication, total transparency, and meaningful results. I’ll guide you through the real estate process, market values, and always keep the focus on you—and your needs.