Kyle Mark in a large bright living room

Ask Kyle Homes that don’t sell

When your home doesn’t sell

The first listing is the negotiation. If yours is sitting, or it already expired, here’s what I’d look at before you put it back on.

10 answers from 6 of my videos

Why didn’t my home sell?

The difference between a listing that sells and a listing that sits comes down to two things: price and exposure. On price, you need to be at or slightly below where the market is today, not where it was six months ago or where you hope it will be. On exposure, the home has to get in front of every possible buyer, not just the ones searching the MLS®.

Go deeperWhy homes fail to sell

Can I list high to test the market and drop it later?

I hear this constantly, and it’s one of the most expensive mistakes a seller can make. You carry the mortgage, property taxes, strata fees and insurance the whole time, while the longer a home sits, the more buyers assume something is wrong with it. Price it like it wants to sell on the first try.

Go deeperPricing a home to sell

What actually happens if I cancel and relist?

A cancel and relist resets the dates on the MLS®, and that’s all it resets. The record keeps every step, and every relist puts more history on it, which weakens your negotiating power. What it costs at each step is in the Kyle Mark Report (free account).

Should I keep dropping my price?

Be very careful with your pricing strategy. Every time you drop the price, you’re telling buyers you’re motivated. So work out the right number from what comparable homes on your street or in your building actually sold for, not what they were listed for, because once the number is right, the buyer shows up.

Go deeperSold prices (free account)Instant Home Evaluation

Selling?The Seller BlueprintHow I price, prepare and sell a home, step by step, before you ever sign anything.Read the Seller Blueprint →

My home has been on and off the market for years. Is it too late?

No. I’ve taken over condos that had been on and off the market for years and sold them. Part of that was the price, and part of it was a bonus for an offer inside the first 10 days, to give buyers a reason to move now.

What should I fix before I list again?

In some situations I recommend a pre-listing inspection before the photographer, then fix what’s cheap to fix: a camera down the perimeter drain tile, servicing the boiler, checking the roof membrane and deck flashing, replacing foggy glazing units. A buyer’s inspector will find every one of those, and a $20,000 repair on their report turns into a much bigger one in their offer.

The offers I’m getting feel insulting. What do I do?

It takes two people to put a deal together. Some buyers have heard it’s a buyer’s market and want to hammer everybody, and some sellers are out to lunch on price, and when both start somewhere that makes no sense, nothing happens. Base your number on data, not opinion, and when an offer does come in, be realistic with it.

Should I relist now or wait?

If it’s more of a want than a need, I’ve told sellers not to entertain it, because you’ll be wasting your time and you’ll be frustrated. If you do have to move, you’re likely going to be disappointed with your sale price, but you can make it up on the buy side. I don’t think the next 12 months reward anyone for testing the market with their opening number.

There’s a new building down the street. How do I compete?

You’re not beating a developer on price, and I don’t think you should try. They can cover the GST, throw in the parking and pay a year of strata fees, so price against what they’re netting, not what they’re advertising. What you market is the one thing they can’t do: hand somebody the keys next month, with no completion window and no wait.

Keep going

Kyle Mark on a Vancouver balcony, on camera

Didn’t see yours?

Ask me yourself.

If your question is about your own home or your own contract, the honest answer depends on the paperwork. Bring it to me and I’ll tell you what I see.