You hear reports from your friends, neighbors, and on the news that the real estate market in the Vancouver area is one of the best in the country. Homes here sell faster. So if your home has been sitting on the market for weeks or months without generating a lot of interest, you've got to be wondering: why? We'll take you through some common reasons why homes even in high demand areas like Surrey might not be pulling their weight.
The Price is Too High
No one wants to pay above market value for a home, but unfortunately a lot of homeowners have an inflated sense of their home's worth, and even go so far as to override their real estate agent's advice on pricing. If you're getting very little interest from buyers and maybe one or two offers below your asking price, this is probably the issue. You can solve it by re-listing the home closer or at market value. If you're not sure what your home is worth, hire an appraiser.
Repairs are Needed
A lot of people with very little time or money get used to living with certain flaws - a burnt out light fixture, a cracked tile, peeling paint, to the point where they don't even see them anymore and think their property is ready to sell when it is not. If you're getting buyers coming in to look at the place and are not seeing any offers afterward, it is likely that this is your problem. You can solve it by having the unbiased eye of a contractor in to evaluate the place, then acting on his/her recommendations.
Not Enough Exposure
Even if there are people out there looking for a home for sale, they can't buy yours if they don't know it even exists. Sometimes real estate agents with too many clients may let your home fall through the cracks, or if you're handling it yourself, you don't know where to start when it comes to advertising. If you sit at home by the phone and it never rings, this is your problem. Fix it by hiring/switching realtors, listing in the papers, online, and posting signs in your neighborhood.
The Decor is Overwhelming
When buyers walk through a home they are picturing themselves living in it. If you've got a pool table in the dining room and a hundred photos of your cats on the living room walls, they're going to be turned off. You can see it on their faces as they walk though. Help them see that your home is very versatile by staging it, with the help of a pro if necessary. Check out the Vancouver home staging company Revamp.