Why Don’t Listings Sell?

To anyone following Toronto real estate in the last 20 years, it would appear pretty hard not to sell your house or condo for most of that time. Many times, we see buyers feverishly competing for coveted houses and condos. More recently, we have seen building condo inventory in an uncertain market that has led to more condos sitting on the market for longer. Some solid houses in coveted neighbourhoods still have competition, but some also have had trouble selling so far this year.

So, when a Toronto listing remains “for sale” for months, what exactly is going on?

Well, if you’re selling your house and you’ve been sitting on the market a long time, you may want to make sure you have not fallen into one of the listing traps that’s preventing your house from selling:

YOUR PRICE IS TOO HIGH

Let’s start with the obvious: you priced your property too high. If comparable properties are selling around you and you’re not receiving any offers, chances are you are doing a better job of helping those other properties sell by making them look like a bargain. Some sellers, after meeting with several real estate agents, believe the agent who tells them the highest number for their home will be the one who will land the highest sold price. That’s rarely true. There are agents out there who will angle to land the listing by telling you the highest price—and when you can’t get it, they wait for you to reduce the listing price enough times until it eventually sells months later for far less.

By letting the listing stagnate for so long, you may receive a lower final price than you would have if you had listed it the right way the first time. Don’t let your listing sit on the market for months. I realize there are some changes in the market that may lead homes to take longer to sell, or you may have a distinct house that needs time to find the right buyer. However, if properties are selling quickly around you and yours is not, you need to take action.

WRONG MARKETING PLAN

When you sell your house, you better have a sense of who is buying in your neighbourhood. It may be very different from when you bought your home, even if it was only a few years ago. Targeting the wrong kind of buyer really reduces your chances of selling.

As an example, you may have several people close to retirement selling their large four- to five-bedroom houses in your neighbourhood. Those who are coming to buy your house will likely not be on the cusp of retirement. You will be targeting younger or middle-aged growing families. So, gear your marketing around them. That means staging that appeals to that demographic. That means using the right kind of media to reach that demographic.

TRYING TO SELL IT YOURSELF

Listen, I do believe there are folks out there who are capable of selling their own home. I do. It’s just a very small number. Most folks who try to sell on their own either list way too high or too low and don’t know how to set up their listing for maximum price results. The low-priced ones sell fast—and very likely for less than market value. The high-priced ones sit on the market forever with no sale.

PEOPLE CAN’T GET IN

This one may be hard to believe for outsiders, but I have seen listings where agents have such ridiculously specific viewing times that it becomes impossible to see the property. I’ve seen a recent couple who only allowed buyers through between 3:00 p.m. and 4:30 p.m. on Tuesdays and Thursdays. Considering most buyers will likely be working at that time, no one is going to see your property. Today I had a seller tell me she has in-house meetings most of the day. So, we can’t come this week to see the house. This is the first week on the market!

If you don’t like people going through your home, then leave your home during the time of sale and stay somewhere else. Take your valuables with you. If it’s tenants who are fussy about time, then work something out with them to show the property. Be understanding of their schedule (for example, if they work a night shift), but you need to arrange something that allows folks to come through at reasonable times.

THERE’S SOMETHING WRONG WITH THE PROPERTY

I have come across new buyers giddy with excitement because they found a property on Realtor.ca that has been for sale for 240 days and looks to be a bargain. Here are the cold, hard facts: if it was a bargain in a strong market, it likely would have sold already. If it’s cheaper than the comparable listings in an area, there’s a good chance something is up after this much time.

Maybe it needs a lot of work. Maybe it’s located next to a sewage treatment plant. Maybe there have been generations of raccoons living in the kitchen. Usually, if it’s been sitting a while, there’s a reason.

Now, don’t get me wrong. There are places that appear to have something that’s not quite right but are actually quite fixable—maybe it has shag orange carpets and a purple ceiling. Maybe there’s a really weird layout. With the right budget, most problems can be fixed. So yes, you can get something below market value—but if it’s sitting on the market for months and months and no one has bought it yet, it may be a bigger problem.

UNCERTAINTY BOMB

In this case, there may be nothing wrong with the property at all, but something has happened in the market to have buyers temporarily step back. We saw it with the Trump tariffs, higher interest rates, and most notably—COVID. This one may make you feel out of control, and for good reason. You can’t really control the market. It’s the one thing you can’t change. In the first month of COVID, there was a very slim chance you would sell your home. It’s not your fault, but the uncertainty was turned up to maximum, and the buyers stepped back.With the current Trump tariff uncertainty and the possibility of a recession, we do have some uncertainty in this market, but real estate is still turning over—if it’s done right.

Selling your home isn’t just about hanging a “For Sale” sign and crossing your fingers. It’s a mix of smart strategy, the right price, savvy marketing, and a good dose of reality. If your listing is languishing, it’s time to reframe, regroup, and relaunch. Remember: almost every property can find its match—it just might need the right makeover, the right message, or the right moment. And if you need a guide to get you there faster (and saner), you know who to call. Toronto doesn’t wait—and neither should you!