5 Drawbacks Homeowners Face When Hiring an Agent in Detroit

As with any financial decision, it is essential to making the best choices to ensure that you’ve chosen the right professional in the real estate industry. There are some risks to know about when hiring an agent in Detroit to sell your home. While there are many benefits to working with a typical real estate agent, you may wish to be aware of some snags with this home sales method. Were you aware of these five problems homeowners face when hiring an agent in Detroit? 

Time on the Market

Listing your home for sale with a real estate agent, while typically the go-to method to sell, can take a very long time. The longer a home sits on the market, the less likely you realize the full sales price. Regrettably, this is a setback homeowners face when hiring an agent in Detroit. While your agent can advise you about the current average length of time their listings take to sell, they cannot provide you with a closing date.

Commissions

Commissions are one of the biggest drawbacks homeowners face when hiring an agent in Detroit. It is essential to ask an agent to lay out all of the commission costs, fees to the broker, what closing costs you will pay and how much of a marketing budget they expect you to carry. Often, in a futile attempt to save themselves money, homeowners attempt to list their property without guidance. Without a vast background in real estate, this can lead to time consuming and expensive errors in marketing and other areas. 

Deal Fell Through

No one wants to get the call from their real estate agent that after all of the time, money and effort put into a transaction, the buyer failed to qualify or was a new buyer and backed out of the deal. Finding out that the deal fell through is a heartbreaking moment that homeowners find themselves facing all too often when hiring an agent in Detroit

Repairs

Are the costs and work involved with repairs on your home holding you back from listing? It is a very well-known fact that your home needs to be picture perfect to be successfully marketed. An industry has built around staging homes, which involves painting, redecorating and possible replacement of countertops and the like in neutral tones, with no personal possessions belonging to the current owners in view. This home treatment allows buyers to imagine themselves better living in the house, increasing the odds they buy significantly. Additionally, most buyers prefer move-in ready homes. 

Holding Costs

While your agent is busy selling your home, your life and problems do not stop. Should you be forced by circumstances beyond your control to relocate, you will be holding two households, which is quite expensive. This situation could be due to employment changes or extreme family circumstances such as an ill family member. In that case, the delay could be burying you in a mountain of bills. Carrying the costs of running the existing property and your new residence can become impossible if too much time goes by.

We Buy Houses Detroit | 313-647-8806

 

To learn more about hiring an agent in Detroit or for any other information about selling your house, send us a message or give our team a call today! (313)647-8806

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