Selling a home can be an exciting yet stressful experience, especially if it’s been sitting on the market longer than you originally expected. While the Ottawa Real Estate Market can fluctuate, there are some very common reasons why a home may not sell quickly. If you are struggling to attract buyers to some see your home, the odds are that one or more of the following factors could be the culprit.
Pricing: Get It Right From The Start
The top reason a home doesn’t sell is it is not priced properly. Many sellers feel their home is worth more than the market suggests, which is understandable given the emotional attachment to their property. However, overpricing your home will significantly limit buyer interest. Polls suggest that overpricing your home by 3% or more can reduce showings by over 90%. Most buyers these days know the local market better than ever before. With online portals and websites everywhere, they can easily compare similar properties and if your home doesn’t offer what they deem to be competitive value, they will move on. Many sellers make the mistake of “trying” a higher price only to have to reduce multiple times down the line before a sale. The most important time of a listing is the first 2-3 weeks so make sure that you are priced correctly out of the gate!
How to Fix It:
While you want to Get It Right From the Start, if you don’t, it’s not all doom and gloom. An experienced REALTOR® can provide a Comparative Market Analysis (CMA) to help you set a price that reflects current market conditions while still maximizing your profit. Also, remember that adjusting the price after being on the market for a while isn’t a failure, it’s a strategic move that will reignite buyer interest and get your home sold!
Showability: First Impressions Count
How your home looks, both in person and online, can literally make or break a sale. A well-staged home with limited personal items present invites buyers to envision themselves living there, while cluttered or outdated spaces can be a huge turnoff. Think of it like this: if a buyer walks into a home that feels unwelcoming or requires significant repairs, they’re likely already mentally reducing their offer or worse, not even coming to see your home in person. In a Buyer’s Market, buyers want a home that they have to do very little to update or upgrade. And if they do have to do this, they want to see significant savings.
How to Fix It:
Ensure your home is in great shape before it goes to market but that doesn’t necessarily mean expensive renovations. Small changes like fresh paint, decluttering and sprucing up curb appeal can make a world of difference. Also, consider professional staging to make each room shine. Don’t forget that fresh air or subtle home fragrances can enhance the ambiance while overpowering smells can send buyers running. Is your home vacant? Make sure to take the time to have the main rooms: living room, dining room, kitchen and main bedroom virtually staged so that buyers can see what the property could look like.
Selling your Ottawa home? Explore these related blogs for more advice.
Marketing: Reach Buyers Where They Are
In today’s digital age, it’s not enough to just list your home on MLS and hope for the best. Effective marketing is essential to get your home in front of as many home buyers as possible. If your listing photos are poor, your property description lacks key details or your home isn’t being shared on all of the social media platforms, you are missing out on a pool of potential buyers.
How to Fix It:
Work with someone who excels at digital marketing. High-quality, professional photos and videos (including virtual tours and drone work) are an absolute must in order to grab attention online these days. Make sure your home is showcased on all social media channels like Instagram and Facebook, where home buyers are actively searching for their next home. You may also want to consider investing in targeted ads to reach more buyers. You can target based on age, geo location and many other important factors. Remember, the more eyes on your home, the better!
Showings: Availability is Key
One of the most overlooked reasons a home doesn’t sell is poor flexibility with showings. While having people go through your home at all hours isn’t exactly fun, it’s absolutely essential to make your home as available as possible. Buyers often have tight schedules and if they can’t see your home at a convenient time, they might skip it and select a property they can view. Ottawa is common for Government and Military relocations. These buyers have 1 or 2 days to see a home so if yours is not available when they are here, they simply won’t see it. The more restrictive you are with your availability, the fewer opportunities buyers have to fall in love with your home!
How to Fix It:
Be as flexible as possible when it comes to showings! Try to accommodate last-minute showings as much as possible and be quick to respond when one is requested. If you’re currently living in the home and have pets and/or young children, plan for times when the home can be easily shown without too much disruption to your routine. The more accessible you make your home, the quicker it will sell.
Need advice on getting the best result from your home sale? Check out these related readings next.
- 3 Reasons to Sell Before Buying
- 9 Tips For Selling Your Home During the Spring Market
- The Art of the Price Adjustment
Bonus Tip: Is Your Home Truly Ready for Sale?
Before you list your home for sale, ask yourself: is my home truly ready to hit the market? It’s important to make sure everything is in place as much as possilbel from the beginning. From pricing to presentation to availability. If you’re working with a trusted real estate team, they’ll guide you through the entire process and offer insights on how to prepare your home for a smooth and successful sale.
Selling your home can be a rewarding process, especially when you avoid these common mistakes. Remember: pricing strategically, making sure your home is in great condition, marketing it effectively and being flexible with showings can all make a significant difference. If you’re unsure where your sale is going wrong, don’t hesitate to reach out to our team for a second opinion. We’re here to help you make the process as smooth and profitable as possible!
Looking for more advice or ready to list your home? Contact Pilon Real Estate Group today to chat or setup your free, no-obligation meeting. Send us an email at Info@PilonGroup.com or call 613.909.8100.
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