Welcome back for the third (and final) installment on my series on answering the all-too common question nowadays, “How can I sell my house fast in Detroit?”
I’m gonna pick up where I left-off.
Below are links to parts one and two.
“How Do I Sell My House Fast in Detroit,” You Ask? Here’s How.
“How Do I Sell My House Fast in Detroit,” You Ask? Here’s How. Part 2.
Is it Move-In Ready?
Something else you want to add to your ad (but only if it’s true) are the words “move-in ready.”
This phrase can help your ad attract both investors and potential residents of the property, which can increase your chances of selling the property a little bit.
If the price is right, an investor might read that in your ad and think that they may be able to just clean the house up and move a tenant right in without having to pay for renovations.
Get A Grip on Your Ego
Hate to break it to you, but just because your buddy down the street got $80,000 for his house down the block a year ago, that doesn’t mean you’re going to get the same thing.
The market is forever changing. Prices go up and down like people’s weight on yo-yo diets.
Ego’s and people not knowing what the hell they’re talking about are two of the biggest things I’ve seen keep people from selling their houses in this market.
If you want to sell the house fast, you’re going to have to have a price that’s going to seem like a steal…
That is, unless the buyer is naive, or falls in love with your house, which are two occurrences that I wouldn’t bet on if I were you.
Unless your house is truly one-of-a-kind, I wouldn’t put too much hope into that happening.
Anyways, if you need to sell NOW, you’re probably going to have to put the house up for sale at a price that’s quite a bit lower than what you might initially expect to get from it.
If your ego is going to get in the way of you selling at a sell-able price in this market, your other option is to wait until the market turns into a seller’s market.
And who knows how long you might be waiting if you’re going to wait it out.
Investigate the Competition
Find houses similar to yours on the market and see what they’re selling for, and what they look like.
This can help you set a realistic sale price, which will help improve your chances of selling your house quickly.
Good places to see what’s for sale out there is Craigslist and Realtor.com. Or, you can get this information from a real estate agent.
Now although this is a good start, if you really want to get the most out of this tip, you’re going to have to get off your butt and get out and see some of these other houses in-person.
That way, you can visually see what the competition is offering, so you can compare theirs to yours, which will help you adjust your own price accordingly, if necessary.
For example, if there’s a 3 bedroom, 2 bath home on the market for $100,000 that’s a block away from you, and it’s in better condition than yours (and is comparable, of course), you probably don’t want to list your property for $110,000.
In this instance, you would need to adjust your asking price accordingly to remain competitive.
It sucks, I know, but the truth is that there’s more houses out there in Detroit right now than there is demand for them.
Pick an Agent the Right Way
If you’re going to hire an agent, you may not want to pick the first one you talk to.
Interview a couple of them.
Ask them what they think you should list it for.
But if I were you, I’d go a step further, and make them show you how they’re coming up with that price.
If you’re serious about selling your home as quickly as possible, you need someone helping you that knows the market, as well as the intricacies that affect the price of homes in your area.
Hope this helped you. Good luck selling that house!
Are you looking to sell your house AS-IS for CASH, with NO realtor fees, and NO headaches? Click here to tell us more about your property. Or, give us a call, at 313-454-1190.
References:
How to Sell a House in a Buyer’s Market (via eHow.com)
Tips To Sell Your Home Fast (via finance.yahoo.com)
5 tips: Selling a house in a buyer’s market (via bankrate.com)
Selling A House In A Buyers’ Market (via cbsnews.com)
