Your home isn’t selling.
It’s been on the market for a while, in fact.
Sure, there are other houses that aren’t selling; they’re sitting on the market for as long as yours. But at the same time, you can’t help but notice all the houses that are selling and wonder, “What’s the difference between ours and theirs?”
Forgive me for saying this, but I believe human nature would have anybody in this position look outside themselves. Human nature makes us ask, “What’s wrong with the buyer pool?” Or maybe, “Why can’t my agent sell this?”
Most sellers who have been on the market for a while know what’s coming.
Many of them are just waiting for it.
In fact, many of them already have their defences up and are prepared for when their agent says:
“We need to reduce the price.”
Many sellers respond as though a doctor is hitting their kneecap with a reflex hammer. Their reaction is immediate.
But what are they supposed to do?
I told a room full of agents last week, “Don’t ever underestimate the amount of emotion that pours through every individual involved in this industry, every minute of every day, regardless of whether the market is up, down, or sideways.”
Sure, we know that people feel joy, excitement, happiness, enthusiasm, optimism, and gratitude.
But what about the negative emotions?
I see these just as often as I see the positive emotions, and the list is exhaustive.
Fear.
Anxiety.
Hopelessness.
Insecurity.
Confusion.
Frustration.
Anger.
Greed.
Envy.
Jealousy.
And the beat goes on.
So picture this scenario: a home isn’t selling, and the owner and listing agent have a conversation.
A line is drawn in the sand, and the conversation goes like this:
Agent: “You need to reduce the price.”
Seller: “You need to do a better job selling the home.”
To be honest, this is less common than you would think. Maybe I’m just fortunate, but I don’t find myself in this situation all that often.
But this is happening in the market right now, and it’s why I wanted to introduce the concept of the “elements of a saleable listing.”
It’s something every seller should understand before they go to market. But it is absolutely something that every seller should understand once they’re sitting, and once they decide that the market, the buyer pool, the listing agent, the listing brokerage, and the next-door neighbour are the issue.
For a property to be saleable, or for any listing to be successful, five key elements will play a role.
Today, I want to introduce these elements, and just for fun, I’ll provide an explanation and then role-play a scenario in which the seller is claiming “there has to be something we can do other than adjust the price.”
–
1) Location
This would seem quite self-explanatory, and yet I’m going to explain why and how this plays a role anyway.
First and foremost: we all know that we cannot change the location of a property.
So if one of our key elements is static, then why does it play a role?
Well, consider how location plays a role in different markets.
Let’s say we have a single-family home at an entry-level price point for a very sought-after neighbourhood. The schools are fantastic in this area, the parks are abundant, it’s safe, close to the subway, and there’s a thriving retail strip that’s a quick walk away.
But there’s one issue: the house is located on a very busy street within that neighbourhood.
In a market like we saw in 2021 and 2022, buyers are accustomed to making concessions, and most will look past the busy street. These buyers understand that this $1.4 Million house would be $1.7 Million if it were located about 200 meters away, off the busy street, and that this is simply a compromise they’ll have to make in order to get into the neighbourhood.
In a market like we saw in 2021 and 2022, buyers were willing to accept 7/10 items on their “must-have list.” That market was all about compromises.
But in 2026?
Well, in 2026, buyers want 12/10 items on their “must-have list,” which is to say that they want beyond perfection. Not in every price point or in every area, as some areas in the city still fall into the “seller’s market” category. But for the most part, buyers are being more choosy.
In today’s market, the house on a busy street is not selling.
I can see examples of this throughout the central core right now, where an incredible house, priced competitively, is getting overlooked.
So while you can’t change the location of a property, you can put that location into context in today’s market. Sellers often refuse to consider how the location of their property is playing a role in their home not selling, whether it’s on a busy street, next door to community housing, across the street from the “crazy guy with all the signs on his lawn,” or on the other side of a school catchment area.
Here’s how our listing agent will explain how location isn’t the reason why the property isn’t selling:
“We can’t change the location of your home. But we can accept that location is playing a major role in how buyers consider your home – or not, and how that plays a role in their valuation.
Buyers want your home, but they want it on the other side of (insert street/boundary name). Buyers love your home! But they don’t love the location, as they all want it just a little further east into prime (neighbourhood name), which has the brand value, the panache and status, and of course, the school district.
So where does that leave us?
We have to incentivize the buyer pool. We need to show them that our house is such an incredible deal at our price that they simply can’t pass it up. It’s not the location they want, but it is the house they want.”
–
2) Terms
Whenever I walk my buyer clients through an offer, I always say something to the effect of, “The offer is a dozen pages and thousands of words, but at the risk of sounding cavalier, it really boils down to a handful of key points.”
Those are what we could call “terms,” of course.
Price, deposit, closing date, inclusions and exclusions, clauses, conditions, and so on. Many buyers are overwhelmed at the sight of a twelve-page document where 99% of the content is boilerplate, so while I’m not being lax in my assessment, I am trying to explain what is most important.
We all know that price is the most important term of the offer, and while situations may arise where another term is more important, the price will always be a major factor.
When it comes to terms as a key element of a saleable listing, we need to look at how the seller has positioned the property for sale aside from the price. What other terms are the sellers asking for or demanding? Do these play a role in a buyer’s decision?
Here’s how our listing agent will explain how terms aren’t the reason why the property isn’t selling:
“There’s nothing wrong with our terms.
We’re not asking for a 180-day closing date, which would deter buyers who want to close sooner, nor are we insisting on a 30-day close, which would make it impossible for buyers who have an existing property to sell.
We’re not insisting that a buyer assume our existing mortgage, take on our basement tenant, or provide us with a lease-back option.
We’re not indicating to a buyer that they can’t make a conditional offer. In fact, we’ve presented buyers with a pre-listing home inspection as part of our markteing, which would poteintally help them with their own terms.
We don’t have a house full of windows, doors, and heating and cooling systems that were financed by the government’s home energy program, that comes with a monthly payment of $500 over the next fifty years, and a buyout of $70,000 if done today.
And most importantly, the terms we’re negotiating in the offer aren’t unreasonable to buyers – because we have yet to receive an offer.
Our terms are not an issue with this listing.”
–
3) Condition
This also seems quite self-explanatory at first glance, but trust me when I say that it’s not. This is a major point of contention, not only in today’s market, but also in the context of a discussion between a seller and a listing agent about why a house isn’t selling.
There’s much to be said about the condition of a home, but let’s start with exterior versus interior, and systems versus aesthetics.
Suffice it to say, whether a Toronto home was built in 1886 or 2026, there are a lot of elements of the build that could be problematic. Heating, cooling, plumbing, wiring, roofing, windows, doors, foundation, brickwork, and the list goes on. Whether there’s a handrail that’s loose or there’s a gaping hole in the roof, there’s always going to be something in the home that could be corrected, updated, or improved.
Some buyers are more concerned with the “guts” of the house, whereas others are drawn in by the finishes, design, and decor. As a seller, you can decide to update and improve everything in the home, nothing in the home, or find a happy medium that will allow buyers to see the home in a positive light, without emptying your bank account.
A listing agent’s job is to assess the home’s condition and provide recommendations to the seller.
Depending on the agent, their level of experience, their knowledge, and, to be blunt, their competency, they may or may not be able to make recommendations and suggest a course of action to the seller that would maximize the home’s potential. Some agents have a virtual Rolodex of tradespeople who can jump into action at a moment’s notice, and prepare the property on time, whereas other agents lack the contacts necessary to do so, let alone the knowledge.
As I’ve mentioned here on TRB many times over the last several years, we routinely guide our seller-clients through the process of pre-listing renovations, from small jobs that include painting and lighting, to multi-week, six-figure jobs that completely transform a home. Our job as listing agents is to advise the seller, but ultimately it’s the seller who has the final say.
Here’s how our listing agent will explain how condition isn’t the reason why the property isn’t selling:
“The condition of the home is impeccable.
We spent four weeks getting this property ready for sale, after identifying potential areas of improvement, analyzing the cost-benefits of each upgrade, and putting a plan into place.
Structurally, the house is solid. Our pre-listing home inspection notes items like ‘missing handrails’ and ‘downspouts discharging too close to house.’ There’s nothing in the inspection that’s a red flag. We have no clay pipes, lead pipes, knob-and-tube wiring, aluminum wiring, asbestos, vermiculite, urea-formaldehyde insulation, or any other building materials that would scare buyers away.
Aesthetically, the house looks amazing. We’ve done the necessary upgrades, we’ve moved 80% of your possessions out of the house, and we’ve staged the home effectively.
The condition of the home isn’t an issue.”
–
4) Exposure
Here’s where my cynical side is going to show its ugly self!
Every so often I get a client who says something like, “How can you market my property internationally?” Or perhaps, “What are some ways that we can attract overseas buyers to our listing?”
Last month, I included this as one of my points in the following blog post:
“Top Ten Sales Gimmicks In Toronto Real Estate”
If not for the foreign buyer ban, and a host of non-resident speculation taxes, perhaps we would consider marketing properties internationally as an effective tool in today’s market.
But the truth is, 99% of buyers are going to come from MLS (whether that’s Realtor.ca, House Sigma, etc.) in some fashion. They’ll see the listing on their own, or they’ll be forwarded the listing by their Realtor.
At the risk of admitting that 71.4% of all statistics are completely made up, I’ll suggest that the other 1% of potential buyers come from a source that we’ll call “other.”
Open houses.
Sign calls.
Word of mouth.
Admail.
Online advertising.
Social media.
Newspaper advertising.
Just to name a few.
Within each of those sources named above, we could further break this down. For example, “Word of mouth” could mean a neighbour, friend, or family member telling a prospective buyer, or it could mean hearing about the property from another parent at school.
But when it comes to the element of exposure as one of our five key aspects of a saleable listing, it’s often what sellers don’t do to expose their property to the market that’s the problem.
Some sellers say, “I don’t want a ‘FOR SALE’ sign on my lawn.”
Others tell their agent, “We’re not doing a public open house of any kind.”
Then there’s the classic, “I want you to be present for every buyer showing.”
Suffice it to say, there are a lot of ways in which a seller can unknowingly reduce the amount of exposure that his or her property could otherwise gain, just as there are a lot of ways in which the listing agent could allow that to happen.
Here’s how our listing agent will explain how exposure isn’t the reason why the property isn’t selling:
“When we first spoke, you told me that you didn’t want a lawn sign as you valued your privacy. I respected that, but I told you that the lawn sign is an essential part of advertising and provides a ton of exposure, and you took my advice.
You also mentioned that you didn’t value open houses and that ‘other agents’ you spoke to said you didn’t need to do them. I told you that these ‘other agents’ were just trying to win back six hours of their weekend, and that’s why they agreed with you, and I further explained that many buyers go to weekend open houses in lieu of booking a showing with their agent, and that open houses were essential. We’ve done open houses for a month.
We haven’t said ‘no’ to any showings. We don’t have a tenant that’s requiring 24 hours’ notice, nor have you cancelled any scheduled viewings. We don’t have any notice required for showings, nor do we have any days blocked off.
This is not a property where “LISTING AGENT MUST ATTEND VIEWINGS,” so there’s no issue with a buyer agent wanting to book a showing, but can’t, because the listing agent is playing squash or sailing on his boat.
Our property is on MLS, it’s on our brokerage website, my personal website, and all our social media channels, where we’ve been running ads for four weeks.
I’ve sent an email blast to thousands of real estate agents, spoken to hundreds about the property personally, and advertised the listing at all our brokerage meetings.
We’ve repaired, painted, cleaned, decluttered, and staged the property, and we’ve used the best photographer to shoot still photos and video. We have a long-form video for YouTube, a short-form video for social media, a 3D walkthrough, and custom floor plans. We’ve got a host of print advertising at the home, including a pre-listing home inspection. There’s always more we can do! We could drop flyers from a hot-air balloon atop the city! But in terms of what needs to be done to gain maximum exposure, we’ve done it.”
–
5) Price
Let’s revisit our first four points before we land on our fifth, and assign “responsibility” to each.
Location: nobody.
Terms: seller, with agent advising.
Condition: seller, with agent advising.
Exposure: agent, with seller allowing.
Price: seller, with agent advising.
If we have done everything we can possibly do with respect to location, terms, condition, and exposure in order to maximize the home’s sale potential, then by process of elimination, we land on price.
As I said at the onset, the extreme, hyperbolic, cliché view held by the agent and seller, respectively, would be something like:
Agent: “Ugh, stupid seller, priced way too high, expectations unrealistic.”
Seller: “Classic, sleazy agent, just wants me to lower my price for an easy sale.”
I always go to extremes, don’t I?
But I’m trying to make a point.
A realistic set of views would look like:
Agent: “We’ve done everything we can do, but at this point, we need to address the price.”
Seller: “What else can we do? Aside from addressing the price? What ideas do you have?”
This is where I fall back on the Five Elements Of A Saleable Listing.
If you’re a listing agent and you feel a price reduction is necessary, then look back at Location, Terms, Condition, and Exposure, and decide whether you’ve done everything you can do.
If you’re a seller and you feel that there must be something you and your agent can do to sell the property, aside from addressing the price, then run the same exercise with respect to our “five elements.”
But both the agent and the seller need to be honest with themselves, and that’s easier said than done. It’s why a collaborative effort is beneficial, whether the seller and agent are discussing with friends and colleagues, or with one another.
There a lot of properties out there that aren’t selling.
Many aren’t selling because of location, terms, condition, and exposure.
Many aren’t selling because of price.
Which one is yours?
