There are few things as discouraging as deciding to sell your home and putting in all the work into staging it just to have it sit on the Canadian market for months without any offers. If this is a situation you currently find yourself in, there are probably a few glaring issues you can correct to get your home sold.
You didn’t use a real estate agent or hire an experienced one. This is a big one. Too often, we try to go it alone to save money, only to end up losing money when the house sits on the market for longer than we hoped. An experienced agent will know exactly what to do and be able to steer you clear of any mistakes you might be making when it comes to selling your home. They know the market and they are experts at selling exactly what you have to offer. It’s much harder to sell a product when you don’t understand the market.
Your marketing is almost non-existent. If you didn’t use an agent, you probably didn’t market your home in all available avenues. And did you take professional photos that show it as the beautiful home it truly is, or did you just throw up some pictures you took yourself where the lighting didn’t do the home any favours? A home with professional photos and video tours will sell faster.
Additionally, you may have missed out if you didn’t host open house and make sure they were advertised in all the right places. Marketing is a lot of work, and it’s what your real estate agent excels at. Let them do it for you and you can be sure it will be done right.
The price is above market value. If a house is sitting on the market for months, it’s usually because the asking price is above the property’s actual market value. You might think your home is worth one price, but if the price isn’t attracting buyers, you might have to consider lowering it.
It’s the wrong time to sell. It’s always easier to sell in a hot market, and if you can wait until then, you’re better off. There are also times where people are more likely to be house hunting (spring and summer) and times where they are less likely (winter and fall). If you’re able to hold off and sell in the warmer months, you might have an easier time selling.