If you are selling your Metro Detroit home, naturally you want to get as much money as possible for it!
Unfortunately, some real estate agents will take advantage of this by telling you that they’ll be able to sell your house for more than other agents will — and they’ll give you a listing price that’s too high.
At first, a higher listing price might seem like a good thing. You’ll get more money, right? Well, not exactly.
As The Balance writes, “A seller who chooses an agent based on which estimate is highest without considering other factors is the ultimate loser. Yet almost every seller operates in this manner. It’s a shame because so few agents take the time to educate sellers that other factors such as marketing plans and the agent’s negotiation abilities are far more important than the estimate of value.”
Overpricing your Southeast Michigan home on the MLS will almost always mean it takes longer (sometimes six months to a year) for the home to sell. During that time, you’ll still be paying your mortgage, utilities, taxes, insurance, and dealing with keeping your home perfectly clean, tidy, and ready to show prospective buyers. You’ll also likely have to go through a season change or two, which means not only fluctuations in the number of potential buyers (the dead of Michigan winter is a really hard time to sell!) but also maintenance like raking leaves, clearing snow, trimming trees, and so on.
Plus, your agent will probably recommend reducing the price after a few months anyway if it hasn’t sold. So overpricing your home is really a lose-lose proposition.
Ideally, you want to choose a Metro Detroit real estate agent based on their negotiation abilities, their level of honesty, and their marketing savvy – not the initial listing price they promise. In the long run, an experienced and personable agent will mean a great bottom line sale for you.
If you’re wondering about the true value of your home, then checking out your Zestimate is a good first step. Look your home up on Zillow and run that number by your agent to see what they have to say! You can also do your own research on comparable homes in your neighborhood and what they have sold for lately.
Of course, if you want to sell your Southeast Michigan house fast for cash, give Mitten Made Properties a call at (248) 883-3340. It’s definitely worth it to compare our process and your overall home-sale profit before you commit to an agent. We can close in as little as two weeks, buy your home completely as-is, and we’ll even pay all closing costs!