It’s a common experience: you list your home but get no purchase offers or house showings. This is especially typical of Calgary’s real estate market. The average time on the market for a home in Calgary increased from 45 days in Feb 2018 to 62 days in Feb 2019, after which only 25% of the homes are sold.
This reality can feel like an impossible puzzle. The best thing to do is to try and isolate the reasons why your home isn’t selling.
Is it your listing? Your home? Your Realtor?
Today, we discuss five common reasons why your home hasn’t sold, plus ways to increase your chance of making a sale.
1. Time Your Sale
Selling your home is a waiting game. Unfortunately, the real estate market is cyclical, and its fluctuations can prolong your timeline to sale. Waiting for the market to shift can improve the likelihood of selling your home. A proven tactic is listing your home during an ideal selling season.
According to the Canadian Real Estate Association (CREA), the highest number of homes are sold in Spring. Winter and late Summer see a slump in housing sales. Perhaps it’s the spring thaw, but people emerge from winter ready to buy. Houses show better in springtime, and buyers express fresh enthusiasm for open houses.
Taking a seasonal approach to listing your home will boost your exposure with buyers, increase the number of offers you receive, and drive competition to get you a better price on your home.
2. Refresh Your Property Listing
The saleability of your home hinges on your property listing.
People shop with their eyes and their emotions, so a great first impression is key to making a sale. Sprucing up your marketing materials is a surefire way to increase the interest in your listing.
Marketing your property is a core responsibility of your Realtor, so reach out to them about tweaking the listing. Here are a few features that every successful listing should have:
- A powerful property description that speaks to people’s emotions
- A captivating headline that snaps shoppers to attention
- High-quality photos that illustrate the best features of your home
To gather feedback about your home listing, ask interested buyers who didn’t purchase why they chose not to buy. This will help you refine your marketing messaging, images, and speak to what buyers really want.
3. Change Your Real Estate Agent
Sometimes the difficulty of selling your home isn’t about your home.
Like in any industry, some real estate agents are more effective than others. If your home has been stagnating on the market, consider hiring a more experienced Realtor with a better track record.
Switching real estate agents is common. Your chosen listing agent may be a bad fit for you, inexperienced with your property, or failing to market your home properly.
There is a wide range of skills to an effective listing agent. If you feel like your Realtor isn’t working hard enough or is deficient, don’t be afraid to find someone better.
4. Make Improvements to the Property
Homes that fail to sell usually don’t stack up well against the competition. Think about it this way: if 80% of the homes on the market aren’t selling, your home needs to be in the top 20% to receive a purchase offer.
Making improvements to your home is a way to increase its appeal with buyers. To determine which upgrades will have the greatest impact, compare your home to listings for similar homes sold in your neighbourhood.
Where does your property come up short?
If your home’s carpeting is faded while others have fresh carpet or wood floors, you can bet that a flooring upgrade will help you get more offers. Assess your property with an honest eye for features, then make updates that will boost the curb appeal with buyers.
5. Try the Guaranteed Way to Sell
It’s a frustrating time to be a home seller in Calgary. As the average time to sale continues to climb, the cost and energy of staging, upgrading, and showing a home are also increasing.
Rather than suffer through another stagnant listing or failed deal, savvy homeowners are using new online methods to close on their home.
You can get a fair-market offer on your home in less than 48 hours with Properly. Just submit an online request, and you will receive a customized offer for your home in just days. You’ll also be assigned a personal Experience Manager to guide you through the process. This friendly consultant will explain every detail of the offer to you any time you like.
Next, you’ll receive a free third-party home inspection and a customized, final offer. All that’s left is to choose which move-out and closing dates work best with your schedule.
From start to finish, you can get the all-cash payment for your home in as little as five days – all with zero added risk or effort.
What to Do When Your Home Isn’t Selling
If your home hasn’t sold yet, it’s time to try something new. From marketing to improvements to dropping the price, your goal is to determine exactly why your home isn’t appealing to shoppers.
This can take time, but waiting and wishing is typical of the home selling process. If you’re ready to accelerate your home sale process and try something new, you can message Properly today to help you close the deal.