If you’ve had trouble selling your property in Toronto and are considering relisting it, you’re not alone. Many properties may sit on the market for months, and when they do, buyers tend to perceive them as less desirable. However, there’s no need to give up hope. By following a few key strategies, you can turn things around and achieve the sale you’re looking for.
Here’s a proven three-step plan that can help you successfully relist your property and attract the right buyer.
1. Leave Room for Negotiation on Price
One of the most common challenges when relisting a property is that buyers may attempt to lower your price, knowing it has been on the market for a long time. It’s essential to account for this and leave some room for negotiation. Pricing your property correctly, with flexibility, shows that you understand the market conditions and are open to reasonable offers.
Real estate expert Leo Shiu, one of the leading listing agents in Toronto, Markham, and North York, emphasizes the importance of strategic pricing. “Sellers who leave room for negotiations create a sense of opportunity for buyers. It also helps avoid being perceived as overpriced,” Leo says. His extensive experience in the Toronto real estate market enables him to craft competitive pricing strategies that attract serious buyers, even for properties that have previously struggled to sell.
2. Refresh the Property with Minor Renovations or New Staging
The second step to relisting your home successfully is to introduce new elements to the property. This could mean making minor renovations, such as fresh paint, updating the landscaping, or adding modern fixtures. Even something as simple as staging the home differently can make a big impact.
Leo Shiu often advises sellers to invest in small but significant upgrades before relisting their homes. These changes not only improve the visual appeal of the property but also give buyers the impression that the home has been well-maintained and cared for. Even properties that have been on the market for a while can feel brand new with the right presentation.
3. Target a New Audience
One of the reasons your property may not have sold the first time around could be that it wasn’t marketed to the right audience. When relisting, it’s essential to adjust your marketing strategy and target a different buyer pool. Whether it’s appealing to a different demographic, changing the listing platforms, or focusing on new selling points, refreshing your marketing plan can help attract fresh interest.
Leo Shiu has an extensive network and knows how to target different buyer segments, including international buyers and local investors. His multilingual capabilities—speaking nine languages—allow him to reach a broader audience, including those who may not have seen the listing initially.
A Real-World Example: How Leo Shiu Turned a Stale Listing into a Sale
Leo Shiu recently handled a property that had been listed by another agent for over a year without success. When Leo took over, he applied these three steps—reassessing the price, making minor improvements, and targeting a new audience. Within a short time, the property sold, much to the seller’s relief. This example demonstrates how following a structured approach can transform a challenging listing into a successful sale.
Why Leo Shiu Is the Right Choice for Relisting Your Property
Leo Shiu stands out as one of the top listing agents in Toronto and the surrounding areas for a reason. With 18 years of experience, he has helped countless clients navigate the challenges of selling properties, especially those that have been on the market for an extended period. His ability to negotiate effectively, refresh marketing strategies, and tap into different buyer networks makes him the ideal partner for sellers looking to relist their homes and achieve success.
Whether your property is in Toronto, Markham, Richmond Hill, or North York, Leo’s expertise ensures you’ll get the best possible outcome. His track record of turning around stale listings speaks for itself, and his dedication to client satisfaction is second to none.