Toronto’s housing market has made a 180-degree turn from a sellers’ to a buyers’ market. That means that buyers are now in the driver’s seat.
What worked in the buying frenzy pre-2008, won’t work now. This is especially true for you as a home seller. In order to attract buyers, you not only need to make your home stand out from the competition, but you also have to avoid turning off buyers.
The seven biggest buyer turn-offs:
Overstuffing. Having too much furniture, trinkets and mementos on display. Put most of them in storage. Buyers want to see your house, not your stuff!
Pet distractions. Some people are terrified of dogs (or even cats). So don’t turn off potential buyers by keeping Fido and Fluffy around during showings. Dog and cat odours are likewise a major turn-off, not to mention serious allergies that some buyers may have to them.
The jungle front or back gardens. The message you send to buyers is that the rest of your house is probably neglected too. No curb appeal means lower offers from buyers.
Bad paint or wallpaper choices. If your wall colours are anything but neutral, consider having them redone before starting your showings. Nothing turns a buyer off faster than seeing a colour or pattern which they consider to be “hideous”, splashed all over the walls.
The dirty bathroom. Anything less than a spic ‘n’ span washroom is unacceptable. Even a water stain in the sink can bring out the “ewww” response in buyers.
The mildewy basement. The first stop for many buyers is the basement – will yours pass the sniff test? What buyers DON’T want to smell is mold or mildew. If your basement has even a borderline odour, invest in a de-humidifier.
The overly ambitious asking price. In a buyers’ market, this alone will be enough to stop people from even looking at your home. Statistics show that the percentage of potential buyers will increase as much as seventy-five percent for every $20,000 to $40,000 you adjust your asking price, depending on the price range of homes in your neighbourhood.
Read Other Related Articles:
Single Biggest Mistake Home Sellers Make in a Buyers Market
How to Get the Most for Your Home in a Slowing Toronto Real Estate Market – Part One
How to Get the Most for Your Home in a Slowing Toronto Real Estate Market – Part Two
How to Get the Most for Your Home in a Slowing Toronto Real Estate Market – Part Three
Unsure as to what to do in this market? Simply send me an email, or call me Rosalin Smith-Carr, at my direct line (416) 482-8330 ext. 3519
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