Outside influences on the real estate market have altered the process of selling a house in Detroit. Elements such as the economy and health concerns, have created change and the use of technology in real estate transactions continues to move forward. Due to these influences, real estate professionals need to stay on top of all factors that affect home sales to remain successful. Because the real estate market changes quickly, sellers may hesitate to enter the fast-moving waters without knowing where to step. We have put together the most recent data to help you navigate the five ways selling a house has changed in 2022.
Traditional Pricing Methods Do Not Work
In the past, sellers had a fair amount of wiggle room when listing their homes and could hope for counteroffers if they were pricing high. So the first way selling a house in Detroit is different, is that there is no room for error when you set your listing price. Today’s home buyers are much more tech-savvy and are able to assess a listing within a matter of seconds! They can usually tell if it is overpriced and will simply move on, knowing exactly how much house they can buy with their money. Therefore, you’ll need to pay close attention to the current sales nearest you, for similar homes to help you zero in on the target number. Again, being on point with your listing price helps you sell faster. You want to avoid lingering on the market because the number of days listed can severely impact your final sales price.
Surprises are the last thing anyone wants during the negotiations, let alone the buyers walking away from the deal over a failed inspection. Even worse, buyers often take advantage of a poor inspection report and demand a discount on the asking price far above what the repairs would actually cost. Another way that selling a house in Detroit has changed is to order an inspection before listing. A pre-inspection gives you as the seller, a sure footing regarding the inspection contingency, common to traditional home sales. You can then decide if you want to invest more into the repairs or face the issue head-on with buyers from the start. This will put you in the driver’s seat for making the decision on the amount you should discount the listing price, instead of making the repairs.
Showings Have Changed
Selling a house in Detroit is also different in today’s market by the way showings are executed. Although typically, only the most serious buyers will be walking through, one way to achieve this is by only allowing buyers with proof that they are pre-approved for financing to circumvent needless exposure. Also, in-person showings now include a systematic approach geared towards the health of the buyer and sellers. As well as limiting the number of people present during the showing, you should request that the potential buyers do not touch surfaces during their tour of your home. Due to health concerns, it is now common for sellers to provide a virtual walk through the house through the services of a professional drone pilot and 360-degree videography.
Another way that selling a Detroit house has changed, in addition to virtual tours, is the necessity for a professional still photographer to create high-quality images for your marketing campaign. Buyers notice, and if the photos are not up to par, they will simply continue scrolling past your listing. Before the photography sessions, you must take steps to show your home in its best light. Updating older appliances and a refresh with paint and strategic lighting goes a long way to brighten up any home. Top real estate agents can attest to the power of staging, so you should take advantage of this strategy when prepping your home for listing.
The methods available for selling a house have changed. With the traditional options of hiring a real estate agent or selling your home yourself to save the commissions, sellers may now sell directly to professional investors. Even better, you’ll have no out-of-pocket expenses to pay before your cash sale and a direct sale is for your home “as-is.” A direct cash sale, saves sellers both time and money because you avoid the prep work, inspection, repairs and all of the headaches of showings. As a bonus, by selling directly you will have a guaranteed closing date, typically within a matter of days. Not only do sellers save the commissions but direct homebuyers, like those at Detroit Fair Offer, don’t charge any closing fees.
The pros at Detroit Fair Offer stay on top and ahead of how selling a house in Detroit changes every day. Detroit Fair Offer understands how stressful it is to sell your home in the current real estate market. Detroit Fair Offer invites you to talk to us about any concerns you have or ask any questions about selling your home, with no obligation. Allow us to handle everything for you and make the process simple, with a straightforward contract and transparency about reaching our cash offer that you’ll agree is fair.
Contact Detroit Fair Offer about selling a house in the current Detroit real estate market today at (313)647-8806 to learn more.