Reasons Your Home is Not Selling
When it comes to selling a home, many aspirations motivate individuals to take the step. Sometimes, it’s the urgent need for money while in other instances, it’s the charm of moving into a better property. While selling your home might seem easy from the outside, the truth is, it’s far from being an easy move. Right from listing your house to finding the right buyer, several important aspects can impact the house selling process. Especially in a hot housing market, if your home is unable to get any buyers, it raises eyebrows. With this article, we aim to help you realize some important factors that might be the reason behind your home not selling in Oakville.
A seller has two objectives. One being to sell out the home as soon as possible and the other is to get the highest price possible. In most parts of Canada, owning a property comes with a perk. If we go by the historical data, real estate is known to yield strong returns to homeowners. These returns can be used for any financial urgency whether to get an address upgrade, retire to a holiday property or invest in something you have been eyeing for a long time.
While selling a property comes with its perks, you’d agree that in the last few years Canadian nationals are facing a harrowing time given the current market conditions. There is a huge demand-supply gap. This leads to increased buying prices, leaving a fewer number of buyers. So, if you’ve been stuck with your luck, try to look into these potential issues to sell your property faster.
1. Lousy Selling Photos
Before anything else on the list of reasons your home is not selling, bad selling photos has to be one of the prime factors. You might ask, “but most prospective buyers visit the property in person”. And we agree. But to reach out to the potential buyers and piquing their interest in your home, you need pictures that bring out the real edge of your house. And how do you do that? You can avail the services of an experienced real estate photographer. How to find one? Ask your real estate agent. They will arrange for pictures that showcase your home in the best light. While your home pictures shall be admirable, it’s considered best to list pictures that are closest to reality. Honest and well-lit listing photos are a really important part of selling a house.
2. Exaggerated Listing Price
To a homeowner, putting a price on their home is super tough. It’s a priceless possession for them. There are so many memories that you’ve made in your home. But for a buyer, your emotional attachment to your home doesn’t necessarily hold any significance. The only thing that matters is how much is your house worth. And what the prospective buyers want to pay for it. The right listing price is not what you think. It’s a mix of factors, including the existing market scenario, the condition of your home and finally the circumstances under which you are selling it. To get a ballpark idea of your home worth, you can search for home value estimators. You should always connect with a real estate agent who tells you the truth. Choose one who can work on comparing the recent sales within your neighbourhood and not just give you a fancy number. A reliable agent will not only pull up recent sales but will also help you in deciding the value based on the condition of your home.
Listing prices are important as it’s the first impression that prospective homebuyers will have of your home. Creating a budget is the first step when someone looks out to buy a home. And they do so by browsing online listings. So, if you put a price on your home that exceeds the market conditions, the chances of your listing getting filtered out even before considerations get higher. Keeping the prices realistic is the best move you can make to sell your home faster.
The listing price is the first impression homebuyers will have of your home. When a buyer decides to start shopping for a new home, step one is creating a budget. With this number in hand, step two is to browse online listings. Within that price range. Success can come down to a few dollars over or below that specific threshold. This is why it’s important to be realistic when it comes to pricing the home.
3. Inefficient Marketing
Thanks to the age of digital marketing, a prospective homebuyer has hundreds of property listings ads as soon as he/she types buy a home in the search engine on his/her phone or laptop. If you are still relying on the outdated methods of doing it all manually, the risk of your home not being visible as a selling option is higher. Ask your real estate agent to get your home listed on their websites. You can also do the same on major property portals on your own.
4. Unkempt Property
A messy, cluttered home is not a good start to your home-selling efforts. You need to prime up your property with the proper paint, throw away the pest-infested stuff, cut your grass, fix that windowsill or whatever you need to do to leave a marvellous first impression on buyers visiting your property. An unmaintained property is a buzzkill. So, clean your house, fold your laundry and put stuff in place once you schedule a home visit.
5. Wrong Time to Sell
Market pundits recommend buyers shop for a new home right before the school year starts. It is much less of a hassle to deal with kids in school and adjust to new surroundings. Closing usually happens 60 days after the offer signing, it is best to put your home on sale from April to June. Also, property rates fluctuate during the year. So, keeping an eye on the real estate rates is also advised to make the right decision.
6. Focusing on Erroneous Offers
The prime reason you need a real estate agent is not just because they get you the best price, but also because they help you screen prospective homebuyers to save you from getting into a mess. Checking their background along with their financial withstanding is one of the qualifying criteria and your real estate agents help you in preventing bad offers from coming your way.
7. Wrong Choice of Real Estate Agent
Selling a property has too much riding on the choices you make. Selecting the wrong real estate agent can cost you so much more than just money. Look out for agents who keep themselves updated with the latest marketing tools. Read their reviews online. Ask them how are they different from the players in the market. You must ask them to present the recent sales they have made in your neighbourhood. Go with agents who know how to walk with you while you sell your home.
Struggling to sell your Oakville home? Joe Maharana is your guy. He is a favourite in the market and holds specialization in serving clients across the GTA. Joe’s team of accomplished agents helps you in optimizing the sales value while delivering an exceptional home selling experience.