You have put in the work to prepare your house for sale. You’re constantly checking your phone, waiting for the buyers to book showings. There’s an anxiety that comes with being listed on the market; you feel exposed and vulnerable with the fear of the unknown. You might even be regretting your decision to list your home.
Reality Check: How Long Should it Take to Sell a House?
If your home isn’t selling, the market is giving you feedback. In my experience, a home should sell, or at least receive an offer in two weeks, or 10 showings, whatever comes first. It might sound simplistic, but it’s true.
Searching for more home selling advice? Read these blogs next!
- Does Staging Help Sell a House?
- How to Sell and Buy a House at the Same Time
- Are There Tax Breaks for Senior Home Sellers?
The 2 Very Real Reasons Why Your House Isn’t Selling
Pricing: The number 1 dealbreaker
Overpricing will guarantee fewer showings, if any at all. Buyers are well educated on property values. They have looked at more homes comparable to yours than you probably have.
I tell my clients, “The market doesn’t care what we need to sell for, only what buyers are willing to pay.”
Presentation: First impressions mean everything
Having poor photos, clutter, and outdated spaces are sure ways to prevent a sale. Staging. It’s an expectation. Don’t think that because you can see past a home’s presentation, others can too. They can’t. It will cost you more not to do it. Do you want to be just another house, or do you want to position yourself at the top?
When done well, staging pays for itself, netting you more money. This is why I offer it to my clients at no cost as part of my service.
It Comes Down to Strategy
I received a frantic call from a homeowner who was struggling to sell their condo because they had bought a house. Their window was closing, and they risked owning two houses they couldn’t afford. The condo was listed by another realtor.
Following the termination of that listing, I was hired to implement a new strategy to sell their condo for top dollar (so they could close their new purchase). We had 30 days to make it all happen. We completely staged the condo, had professional photography, video, and floor plans done, and had a firm sale in a week.
They never changed the price, just the agent and the strategy. Needless to say, they were relieved and moved into their new home without issue.
Objections Buyers Won’t Ignore
The more objections the buyer finds, the more it’s going to cost you in the sale price, if you receive an offer at all.
Buyers won’t ignore items that feel like construction projects. What may seem like a simple fix for a handyman may seem like an expensive, extensive renovation to an inexperienced homeowner. Keep up with the maintenance on your property.
Dark/Dated Finishes
I often list properties in virtually original condition. Small cosmetic changes can go a long way to updating a property without doing a full renovation. Faux wood panelling in the basement? Paint it out in a light colour. It turns a hard no into an “I can live with this”. A buyer may look at a basement needing renovation and put a $ 100k price tag on it, whereas a $2k investment removes the objection altogether.
See the difference staging can make!
Odours
Pet odours can be off-putting to buyers, even if they are currently pet owners. This can be challenging, but it’s important to address it before showing your home. I have experienced this as a dealbreaker when working with buyers.
Very strong food odours can also turn buyers off. The conversation during the showing becomes a guessing game about what the odour is and whether it can be removed, rather than focusing on how nice the house’s layout is.
Dampness is an odour that raises a red flag, too. Usually, it comes from the basement, which causes buyers to assume the worst. Dealing with water issues always sounds expensive, with a lot of unknowns, think money pit.
Cleanliness/Clutter
Cleanliness and clutter will distract the buyers from seeing your home’s potential. If anything on the surface appears neglected, they’re going to assume the bigger ticket items that aren’t so obvious haven’t been maintained either.
When you’re aware of your home’s weaknesses and address them, you’re on your way to success.
How Market Conditions Can Impact Your Sale
Is it a buyer, seller, or balanced market? Understanding the data and how it impacts you is critical. What are the inventory levels for your type of property? Are interest rates increasing or decreasing, and what is consumer confidence like in the market?
This is where having a good realtor can add value. They are your eyes and ears. What are they experiencing on both the listing and buying sides? How do comparable properties to yours that are currently listed show in comparison to your house (this is where you need to be objective)? Sometimes timing might not be on your side; it happens.
Selling your house in order to downsize? Read these related blog posts for more helpful advice.
- Decluttering Tips For Seniors
- Can Downsizing Actually Save Me Money?
- 5 Signs It’s Finally Time To Downsize
What Not to Do When Selling a House
- Overpricing your home
- Staying home for showings
- Ignoring feedback
- Being emotionally attached to your home
- Refusing to adjust your strategy
The longer your home sits on the market, the more buyers ask, “What’s wrong with this home?”
How to Sell Your House Fast
Selling a house fast, and for top dollar, isn’t luck. It goes back to the planning phase for listing your home. In my experience, the majority of time is spent on market preparation. This includes fixing items around the house to remove objections from buyers.
Painting is the number one thing you can do to freshen up the space and add value. Doing this, along with professional staging, is setting the stage for your success. Make sure you have professional marketing materials, such as photography, video, and floor plans. If you want to hedge your bet on how quickly you sell, price your home strategically, with an offer date. When you create this urgency, buyers come prepared to buy your house, giving you the leverage you need.
Your home might not be selling for a number of reasons. Having a strategy session is a great place to start. Feel free to contact me to discuss your next chapter.
Ready to sell? Reach out to 647.283.2127 or email stuart@stuartnodell.com to start a conversation.
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