4 Reasons Why Your House Is Not Selling

Tags: knowledge broker, knowledge broker real estate, toronto real estate, newmarket real estate, new homes, new condos, home office, more space, newmarket homes for sale

Let me start by saying this, every neighbourhood is different and every house is different. Some towns can sell lightning-fast while others seem to move much slower. The best way to identify your town or neighbourhood’s average selling time is to ask your real estate agent to walk you through an up-to-date market report. If your house has been on the market longer than that period of time it might be time to ask yourself why your house is not selling. It is likely one of the following reasons:

The Price Is Too High

Plain and simple, you priced it too high. But hey, before you start pointing fingers at your real estate agent remind yourself if you asked to list it higher. There are several reasons sellers might make this choice but it usually comes down to it being easier to negotiate down than up. So sellers think they can land somewhere that is still higher than what the property is worth. However, to negotiate, sellers need offers and if a house is priced too high they won’t get any.

Your House Is Unique

Whether you customize your house VERY specifically or your house is very large or anything in between, it’s common for unique homes to take longer to sell. Say for example you bought a home in a very mature, family-friendly neighbourhood, but then you completely gutted the inside and turned it into a replica of your favourite Venetian palace (which would be really cool, by the way). Your house will probably take a while to sell because unfortunately the people looking to buy in that area do not have the same lavish taste you do.

Your Staging or Photos Aren’t Cutting It

With all listings available to view online 24/7, there is a lot to see and a decent amount of competition. To make any house stand out, you need exceptional home staging and crystal clear photographs. Often these two features could sell a house before buyers even step foot inside. You want to make sure you have captured the attention of the right buyers by making sure your first impression is the absolute best.

You Haven’t Addressed The SUPER Problem

It’s okay to admit you think your house is perfect. But if you’ve had 10 showings and are receiving negative feedback on the same things it might be time to admit there may be a problem. If a problem has been identified DO NOT IGNORE IT! Do not hope and pray a buyer won’t notice it or won’t care, because they and their agent will. If it’s been a turn-off for buyers already it will continue to be until it’s fixed.

The number one way all of this can be avoided is by openly communicating with your real estate agent. Seriously! Before you gut your house, talk to your agent about the resale process and work with them to collaborate on listing prices, renovations, staging and more. After all, they’re the pros at making your space sell!

The last thing to remember is it might not be your house or your agent, but it could also come down to timing. If the market isn’t moving, consider holding off to sell when it picks back up. But again, you’re never in this alone! Your agent’s got your back.

At Knowledge Broker, our goal is to create an open-source of information for all our clients. We want to ensure that, at the end of the day, they get exactly what they want and what they need. If you know someone who could use our help or services please put them in touch with us or send us their details using the contact information below. And before you go, click here to take the Knowledge Broker Quiz and see exactly what we can do for you!

JOSHUA CAMPBELL (@knowledgebrkr)
Real Estate Broker
Coldwell Banker The Real Estate Centre, Brokerage
j oshua@knowledgebroker.ca
249 Avenue Road • Newmarket, ON L3Y 1N8
289.210.5317