Selling a house can be a very stressful time! A huge change is on the horizon, and moving on can be bittersweet no matter how much you look forward to your next steps. That’s not even to mention all of the work involved in getting your home ready for the market.
Once buyers start coming through, you also often have to vacate your home on short notice, and keeping your space show-worthy can quickly become tiring. The longer your house is on the market, the more stressful it can be, and busy home and work life doesn’t make it any easier.
After all of this, what if your home doesn’t sell? As a homeowner, it can be very puzzling as to why your listing sits on the market while others in the area sell quickly. If buyers seem less than enthusiastic, you’ll need to take a step back and reconsider your strategy. In this post, we’ll give you a few great ideas on where to start.
Curious about how much your home is worth in the market today? Book a free home evaluation right here.
Take a Second Look at the Market
If there’s one thing we can say about today’s real estate market, it’s that it can change quickly without you even noticing. You’re not buying or selling a house every day, and it’s understandably difficult to keep up with constantly changing trends.
Remember that getting your house ready for sale takes time. You need to do a thorough cleaning and decluttering at least, and a few minor repairs may be necessary. It’s not unrealistic for this stage to take a few months. The trouble is that a lot can change in the meantime, and not selling isn’t the only outcome you want to watch out for.
- If you prepare during a busy seller’s market, conditions could dramatically slow down by the time your listing finally goes live.
- You might be ready for a slow market, then something changes and demand soars. In this case, your house could sell, but your price could be too low.
A well-thought-out plan, backed by in-depth research, is essential if you want to sell your house and get the best possible results. That said, it’s just as important to have a pulse on the market and be ready to pivot at a moment’s notice. A last-minute assessment before your home officially goes on the market will also improve your chances of a successful sale.
Looking for more advice on how to navigate a changing market? The posts below can help:
- What Are the Best Ways to Increase Your Home’s Value?
- Best Practices for Selling a Home in Today’s Market
- What Are the Worst Mistakes When Selling Your House?
Reconsider Your Price
When a house doesn’t sell, there are only so many reasons why. A price that’s not aligned with the market is by far the most common mistake by homeowners. It doesn’t matter how great your house shows, or how amazing the location is, if the home is significantly overpriced, it is not going to sell.
Real estate pricing is one of the most difficult concepts to get around. The market itself can be confusing, and most homeowners are very emotionally attached to the place they have lived in for many years.
However, you need to remain objective if you want results. Strategic pricing is always critical, even in a busy market. Keep in mind that buyers only have so much room in their budgets, and a bank won’t offer financing for more than the appraised value.
Many sellers think that if someone likes the house but thinks it’s overpriced, they will just offer less. In reality, most buyers are nervous to make a lowball offer – they do not want to risk offending the existing homeowner.
They’ll think that it will be a waste of time since their offer price is too far off the asking price. A third possibility is that pricing too high could offend the buyer, who will just scoff and move on to the next listing.
If a comparable property to yours appears to be a better value, buyers are more likely to choose it over trying to negotiate with you. If there isn’t currently a comparable, some buyers will wait it out rather than blow their budget.
An experienced real estate agent familiar with the nuances in your area can help you find the perfect sweet spot, where buyers are excited about your listing – and you capitalize on the full value of your property.
Expert Staging No Matter What
When the market is busy, or the seller believes that it is, a homeowner can be tempted to take shortcuts in getting their house ready. This is another big mistake that we see all the time. If you want to sell, your house must appeal to potential buyers. The better it looks, the more likely you are to attract a lot of attention, which can help you earn more from your sale.
Here’s an important statistic to keep at the top of your mind. Only 10% of the population has the ability to look past clutter or dated decor. If you haven’t taken the time to clean and present your home beautifully, most potential buyers will not be able to picture themselves living there. Not being prepared dramatically limits the number of buyers that will be interested.
Some homeowners don’t prepare because they become completely overwhelmed by the amount of work they think needs to be done. The good news is proper presentation may require less time and investment than you think. Chances are, your house does not have to be completely renovated. For many listings, cleaning, decluttering, and expert staging can do the trick.
If you want more ideas on how to plan for a successful sale, the posts below are a great place to start:
- Home Inspections: Friend or Foe When Selling Your Home?
- Renovating Vs. Selling Your Home As-Is
- Refining Your Offer Strategy When Selling First House
The Foundation of Your Home Selling Strategy
A beautiful presentation isn’t just for in-person visits. Your house must also show well online, which means your photographs are very important. The real estate industry has changed drastically over the last couple of decades. Now, almost everyone begins the search for a new house online.
Your photos are going to be a buyer’s first impression of your home. You need to make sure they are eye-catching and of the highest quality so you can generate interest and get people to book a viewing. That’s why professional photography is a must!
Revitalize Your Real Estate Marketing Plan
When your price is bang on and your home is prepared to dazzle, you’re on the right track. However, there is a third critical piece of the puzzle. Without a comprehensive marketing plan to attract the right buyer, your home still might not sell.
There is not one single aspect of marketing that sells your home; it is a combination of several marketing tools. It is impossible to predict where the buyer for your home is going to come from. This is why massive exposure across multiple media platforms is necessary for a successful sale.
Effective marketing isn’t just about getting attention. You want to attract interested buyers who are actively searching for a house in your price range. Your advertising plan should be as targeted as it is wide-reaching.
Now more than ever, buyers are coming from all over, so it is important that your house is getting Local, Provincial, National, and even International exposure. A real estate agent with an excellent relationship with other brokerages and professionals can expand your outreach far beyond what you could ever achieve on your own. At the end of the day the more buyers you get to see your home, the faster it is going to sell, and the more money you are going to get for it.
Thinking about investing in Guelph real estate? The posts below can help you create a winning strategy:
- Is Buying an Income Property Still Worth It for Small Investors?
- A Complete Guide to Real Estate Investing in Guelph
- How An Experienced Guelph Real Estate Team Can Help With Your Investments
Partner With the Right Real Estate Agent
Lastly, it’s important to hire the right real estate agent to sell your house. Your home is a huge asset and you need to make sure that the person who is handling the sale knows how to price it, prepare it, and promote it correctly.
The market is always in motion, and your results can vary depending on how well the sale is handled. Selecting the wrong real estate agent can result in you losing money, and that is the best-case scenario. There is also a high possibility of your house not selling at all.
On the other hand, an experienced professional who is up-to-date can help you achieve a superb outcome that leaves you in a strong position for your next move. A fast sale for the highest possible amount is the best way to alleviate your stress and make the most of your situation.
Do you want more tips on what it takes to sell your house in today’s market? Our top Guelph real estate agents are here to answer all of your questions. Reach out today at info@gowylde.ca or call 519-826-7109 to take the next step.
