When you’re counting on a quick home sale, seeing your property sit on the market can be one of the most stressful experiences of your life. Real estate, however, is never predictable, especially in a diverse and densely populated city like Mississauga. Sometimes, your house will sell, just not as fast as you would like.

Other times, you may need to sit back and rethink your entire strategy. In this post, we’ll look at the most common reasons your house may not be getting the attention it deserves and what you can do right now to generate buyer interest. 

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Re-Take the Temperature of the Market

If your home hasn’t sold, it’s time to reassess the situation. Let’s start by determining how much interest your listing is currently getting. Are you booking showings but not getting offers? Or does it seem like the phone isn’t ringing at all?

From there, we can look at what is happening with comparable homes in your area during the time you have been listed. Are those houses selling? If so, how does their price compare with yours?

Lastly, look to see if anything has changed in the market at large while your home is up for sale. Have there been any new government policies or an interest rate announcement that could affect housing sales? If you and your real estate agent notice that any significant changes have occurred, it may be time to refresh your home selling strategy. 

Are You Sabotaging Yourself?

It’s surprisingly easy for a homeowner to get in their own way when trying to sell their house. You and your buyer are at the opposite end of the transaction, and you both want different outcomes. As the seller, it’s essential to have reasonable expectations for how long it will take and how much you are likely to sell for. 

Are your price and expectations aligned with the current market? The next step is to look at the experience from the buyer’s perspective. For example:

  • Is it easy to book a walkthrough or are you restricting showing times?
  • Is your closing date flexible or set? 

Accommodating your buyer’s needs will help generate more interest in your listing. Being flexible about showing times and other terms of the sale helps them fall in love with your home and increases your chances of getting an offer.

What does it take to sell a house successfully? Find out in the posts below:

Analyze the Competition

Is the home you are trying to sell owner-occupied or is there a tenant living there? When selling an investment property, there are a few extra challenges to prepare for the market. 

Some simple guidelines can help keep the peace before and during the selling process. 

For instance, you can schedule showings for potential buyers by giving your tenant 24 hours notice that you are entering the unit. Just keep in mind that your tenant is under no obligation to stage your home or to allow new photos to be taken. You may need a new strategy to compete against other owner-occupied homes that have been immaculately prepared.

  • You could lower your price to offset any flaws in the appearance of the house.
  • Alternatively, you can work with the tenant to vacate the unit and sign an N11 form, which is sometimes referred to as “cash for keys.”

Selling a home with tenants can be more complex than other transactions. You could try to find another investor who plans to continue to rent the property. However, most potential buyers are looking to occupy the home themselves, in which case they would serve an N12 form to show the new owner intends to live in the home for at least 12 months. 

This could delay the closing date and the new owner may need to wait longer to take possession, which means you will need to find a buyer who is flexible. These are just a few reasons it is always best to work with an experienced real estate agent who understands the Residential Tenancies Act – and who has connections with other agents to find the right buyer. 

Presentation

When you have access to the interior of the home, there are many opportunities to make your listing stand out against competing sellers. First, let’s analyze how your home currently presents to prospective buyers.  

  • Are there things that should be fixed or upgraded?
  • Is the house clean, neat, and tidy when a buyer walks through? 

Another elephant in the room is any scents or odours in your house. It could be something you no longer notice, like the smell of smoke or pets. It could also be something you enjoy but the buyer doesn’t, like burning incense.

Or it could be something accidental, like the smell of cooking. Once again, your tastes may be very different from your buyer’s. Having a showing scheduled may be a great time to plan a night out instead of cooking at home. 

In any case, it’s critical to remove these scents before a buyer even gets a whiff of them. Relying on quick fixes like plugins aren’t always the best solution as they simply mask unpleasant odours. A house that is pungent and fragrant at the same time is not appealing! 

Opening windows, washing the floors and pet bedding can ensure the inside air is fresh and natural. Even changing the bag in your vacuum cleaner can help. 

Understand What Buyers Are Searching For

Even if you think your house is impeccable, you have to remember that your buyer will likely have different tastes. This is why home presentation strategies that “create a blank canvas” are so effective. 

They let the buyer forget that you are living there. Suddenly, the house has endless potential for the new owner. Have you considered staging and reorganizing the interior to make it more attractive to potential buyers?

Expert guidance is essential when selling your home in a challenging market. The posts below will help you find the right agent for you:

Look at the Outside

The exterior of your home is the first thing a buyer sees when they come for a showing. Some factors you can control, like mowing the lawn and keeping the driveway and entrance free of debris.

Other factors may seem beyond your control, like if your neighbour’s yard is unkempt or they have accumulated a lot of outdoor clutter. Fair or not, the value of your home is partly tied to others in the vicinity. 

You can’t force your neighbour to do anything, but you can get creative. I’ve had clients offer to store their neighbour’s belongings in their own garage until they accepted an offer. If you’re physically able, you might even offer to mow their lawn for them. 

There are countless minor details you can adjust to increase the perceived value of your home from the moment a buyer turns down your street. 

Do you want more help rebuilding your selling strategy? I am here to help you spot every opportunity to make your listing appeal to potential buyers. Reach out today at damir@damirstrk.com or call 416.884.7925 for more information.