When you’re selling your home, how many showings in the first week is considered normal?
Real estate in Toronto is a great investment. So it makes sense that many home sellers are confident when they put their homes on the market. Unfortunately, there’s a downside to having high expectations. All too often, sellers get discouraged when they aren’t flooded with buyer requests to set up viewings. In this post, we’ll look at how frequently you should be showing your home—and what to do if it isn’t generating enough interest.
How long is too long for a house or condo to sit on the market? And how many showings in the first week is considered normal? Many sellers start asking themselves these questions when their home doesn’t receive the response they expected.
How Many Showings Before an Offer in Toronto
Generally speaking, houses in Toronto sell after about 7-10 showings, while condos are typically snapped up after 10-15 showings. That said, there are many factors involved. The state of the housing market will obviously have an impact on how many buyers tour your home and how long it takes to sell.
The type of buyer you’re targeting could also affect how quickly you go through the selling process. For example, if you’re in the luxury market, your buyer pool will be smaller. This could mean fewer viewings spread over a slightly longer period of time (though the buyers who do look at your home may be more likely to see it as a great fit).
Why the first two weeks are crucial
There are a number of factors that will determine how quickly and how frequently you show your house or condo. That said, homes of all types tend to generate the most interest shortly after they go on the market. Homebuyers know this, which is why they often ask their agents, how many showings in the first week is normal?
In truth, it’s the first two weeks that are considered the most crucial period for setting up a successful sale. Here’s why. Immediately after you list your home, it’s top of mind—for both the agents who see it on the multiple listing service (MLS), and the buyers who find it online. A fresh listing can generate a lot of excitement, but that excitement is bound to drop off (usually around the two-week mark).
Unfortunately, once a home has been sitting on the market for a while, homebuyers start thinking there must be something wrong with it. If this happens to your house or condo, you may find that you receive little to no interest from prospective buyers. And those who do tour your home may present lowball offers.
Fortunately, if you don’t find a buyer within that two-week window, there’s no need to despair. There are a couple of steps that you and your agent can take to try and turn things around.
What to do if you’re not getting any showings
What should you do if your home is listed but you haven’t booked any showings? Here’s some good news: identifying the problem shouldn’t be too difficult.
When a seller books a lot of showings but doesn’t receive any offers, there’s a chance that the house or condo is the problem. The process of figuring out what buyers don’t like—and getting it fixed or updated—can be stressful and costly. In contrast, if you’re not booking as many showings as you’d like, the problem is probably your listing. Ask yourself the following questions:
Make Your House More Attractive to Buyers
Do you have a listing that draws buyers in? Does it contain beautiful, high-quality images? Does the written copy convey your home’s best features?
Pricing Your Home Correctly
Put simply, you may not receive any interest if the list price for your home is too high. Be sure that your house or condo is priced appropriately, given your neighbourhood and current market conditions.
If you haven’t started the selling process, an experienced agent can put together a compelling marketing plan and advise you on pricing. If you’ve already listed your home but haven’t set up many showings, they can help you make your listing more compelling—and determine whether you should reduce your price.
Selling your home in Toronto? I can help. I have the experience and local market knowledge to help you find the right buyer. Contact me today, and we can discuss your needs.