At Sam McDadi Real Estate Inc., we know how it can sometimes be challenging selling a home. The Mississauga real estate market, and the Greater Toronto Real Estate market, is always changing and it can be difficult to keep up with the volatile market. Some sellers have their homes listed for a long time with no interested buyers, which can be very discouraging. If you’re in this situation it may feel like your house will never sell.
You should never make the mistake of thinking that all hope is lost. By taking a different approach to selling your home, you may have more luck finding the right buyer. Here are five reasons why your home isn’t selling, as well as some tips you can use to increase your chance of making a sale.
1. The price you’ve listed the house for is too high
If your house has been on the market for a while with no buyers expressing interest, it may be a sign that you’re asking too much. It’s important to look at the prices of other houses in the neighborhood when deciding whether you should lower the price or not. If buyers can find a similar house for thousands of dollars cheaper on the next street, they’re most likely going to ignore your listing in favor of something cheaper.
There are certain times where it may be warranted to price your house at an above average rate. For example, if it’s a seller’s market and real estate prices in your town are on the rise, the price may not be the problem. However if it’s a buyer’s market and there are plenty of similar houses in the neighborhood for around the same price or cheaper, this could be a big problem.
2. Your house may be in need of repairs or updates
In a seller’s market where buyers are scrambling to buy houses at any price, you can probably get away with asking a high price for your house when it still needs repairs. However in most cases, if buyers are paying a high price for their new home, they want it to be in excellent shape. This means they don’t want to deal with leaky pipes or unpainted walls. If you attempted to sell your house without undertaking certain repairs and you’ve noticed it’s not selling, now is a great time to invest in the repairs.
Additionally, buyers may want the house to have modern updates such as new windows and upgraded faucets. Amenities such as a new washer and dryer can also make a huge difference in the minds of buyers.
3. Your photos are unprofessional and don’t portray the house in a good way
If your house has been on the market for a long time without success, poor quality of photos could be a major issue. When buyers look at the listing for your house online, they want to see clear, well-lit photos that showcase the house in the best possible way. Buyers are turned away by poor lighting, bad photo quality, clutter in the photos, and many other things that can be prevented with decent photos.
If you don’t feel confident in the photos you’re currently using, ask your real estate professional to get new ones done. A professional photographer should use their expertise to make your house look excellent to buyers. Also the house should be very clean in every photo.
4. Your real estate agent isn’t doing a good job of selling the house
Not every real estate agent is fully invested in every sale. They may have other things on their mind besides selling your house, and sometimes your property takes a backseat. On the other hand, your agent may simply not be cut out for the job. There are many reasons why your real estate agent might not be successful at selling your house.
If you’ve decided to search for a new real estate agent, make sure you find one with an excellent personality. The sale of your house depends on the agent’s ability to communicate with buyers and portray your house in a good light.
Also, insure your real estate professional is marketing your home across many avenues…online, in print media, in magazines, etc.
If you’re in need of a highly skilled, attentive agent in the Mississauga area, contact Sam McDadi Real Estate Inc. today.
5. Your house has a strange smell that scares buyers away
When agents ask why buyers weren’t interested in a house, one of the most common complaints is that there was a strange smell. Buyers might be afraid they won’t be able to remove the smell, which instantly causes them to lose interest in the house. The most common causes of unpleasant odors are smoke, pet urine and mold.
People often get so used to smells in their own house that they don’t even realize they have a problem. This is a major issue and prevents people from realizing why their house isn’t selling. The best thing you can do is bring a friend or family member into the house and ask for their honest opinion about the odor. Something you don’t even notice yourself could end up turning a lot of potential buyers away.
If you’ve found that your house has an unpleasant odor, lighting a candle right before the potential buyers arrive is a good solution. Baking cookies to share with potential buyers is also a popular option among veteran agents.
There are countless reasons why a house might not be selling, but if you look at all the possible problems and solutions, it’s much easier to take action and sell your house faster. Successfully selling a house on the Mississauga real estate market is sometimes a challenge, but with hard work you’ll be able to fix the problems that are preventing you from selling your house. Call 905-502-1500 for a free home evaluation with a Sam McDadi Real Estate Inc. agent.