If your home has been sitting on the market for an extended period of time, i.e., over 30 days, and you are still not able to land a decent offer, it might be time to go over your listing to see if anything can be done to make your Oakville home more appealing to homebuyers.
There can be many reasons why a home is not selling, but to deal with them, sellers need to know what needs fixing. Let's examine the most common reasons a home isn't selling and what you can do about it.
The Price Is Too High
The most common reason homebuyers look away from a listing is because it is too expensive compared to other homes in the area. Pricing your home higher than comparable properties in your Oakville neighbourhood will eventually do more harm than good. Such homes usually spend too much time on the market and are sold for a lower price as a result.
Many sellers hope to lower the price if the initial price does not pick up, but that's not always a good strategy. The home's value typically drops the longer it is on the market, so there is little time to experiment with the price.
We at Martin Group price and position a listing where it is likely to sell in the first 30 days. We follow the latest developments in the market, keep track of Oakville home prices, and have vast experience building successful sales strategies. So, if you suspect that the asking price might be why your home is not selling, call us to talk about how we can get you back on the right track.
Minor Fixes
If you are one of the sellers who gets lots of showings but no offers, the home might have a problem. Homebuyers notice many things during a showing, from squeaky door hinges and paint peeling off to lower water pressure and HVAC not working correctly, so no issue should be taken lightly.
Over-Staging
No Staging At All
We understand the demographic considerations that should be considered when properly staging a home to sell for top dollar. Each home differs so contact us for personalized staging tips.
Specific Issues
Many homes have specific features that may need to be more favourable. If your home is not selling, you should ask for feedback after showings to identify the main problems and do damage control. While fixing the issues may incur some costs, it is still far more costly to get the home on the market in such a condition and lose valuable time and money in the long run.
Having dealt with homes in all shapes and forms, Martin Group can identify potential deal-breakers early on and warn our clients. Even if your home is already on the market and has a significant flaw, we can help you address the problem with valuable reno tips and tricks.
Marketing
If you have worked alone so far, and your home has yet to sell, Martin Group is ready to help you tackle the issues. Call us today for a complimentary consultation.
Frequently Asked Questions
How long should my Oakville home take to sell?
A well-priced, well-presented home should attract a serious offer within about 30 days. Beyond that, it is worth reviewing the listing rather than waiting it out.
What is the most common reason a home doesn't sell?
Price. A home listed above comparable properties in the same neighbourhood tends to sit, and homes that sit typically end up selling for less than they would have with correct pricing from day one.
Should I just lower the price after a few weeks?
Chasing the market down rarely works. A home's perceived value erodes the longer it stays listed, so there is very little room to experiment. Getting the price right in the first 30 days matters far more than adjusting later.
I get showings but no offers. What's wrong?
Usually something buyers notice in person: squeaky hinges, peeling paint, low water pressure, HVAC not running properly. None of these are large expenses, but together they cost you offers.
Can a home be over-staged?
Yes. Eccentric furniture and bold wall colours appeal to a narrow slice of buyers. Neutral colours and simple design attract the broadest pool, which is what you want when the goal is competing offers.
What should I do if my listing has stalled?
Call Martin Group at (289) 778-3852. We will review the pricing, the presentation and the marketing together and tell you honestly which of the three is holding the sale back.
