When you put your house on the market and it doesn’t sell, it can be really frustrating! Especially after you hired a Realtor or (maybe more than one) and it was listed multiple times with no results. Believe it or not, this actually happens to many home sellers in Detroit and we get calls and complaints about it from frustrated owners, every week. Although you may be disappointed regarding the lack of success with the sale of your home, there is hope. In this post, we will go over why your property failed to sell and some legitimate solutions, even if it was listed multiple times.
Some Agents Just Don’t Have A Clue
It’s unfortunate but some real estate agents will make false promises to homeowners, in order to get a listing agreement signed. This is highly unethical but also somewhat of a common practice with real estate agents in Detroit MI. One common reason for this, is because the industry of real estate sales is highly competitive and it causes some agents to tell a seller anything they want to hear, to get that listing agreement signed.
Unrealistic Asking Price
If your house in Detroit was listed multiple times but didn’t sell, this could be a reason. Property sellers sometimes forget, that it’s the market that dictates the current property value. If your initial asking price is set way too high, this will scare your potential buyers away and they will look elsewhere. If your house needs repairs or hasn’t been updated within the last 5 years, you can’t compare it to a home on your block, which has been recently remodeled.
Not Being Flexible
Successful selling, negotiating or deal-making typically requires some level of flexibility. If you are asking for a certain price or contract terms but aren’t allowing for any wiggle room, you are not helping the situation. In other words, being “firm” on everything you’re asking for, isn’t a good idea! Most people don’t want to do business with folks who aren’t reasonable. So, if you are going to be firm on everything you are asking for, your price better very low, otherwise your property most likely will not sell.
Attempt Another Listing
If you decide to try listing your house with an agent again, do it right this time! Ask your real estate agent to present you with a comparative market analysis or (CMA) before setting an asking price. Also, make sure they write up a highly detailed listing description and take at least 50 to a 100 high resolution photos of your property. Be sure to review all the photography and approve the typed up listing description. Do not just place your trust in the agent to do everything correctly, otherwise it could result in another failure.
Take A More Direct Approach
They say the definition of insanity, is repeating the same thing over and over again, expecting different results. Let that sink in for a minute! After putting your house on the market multiple times, resulting in no sale, it might be time to take a different type of action. A local, professional cash homebuyer like Detroit Fair Offer is highly experienced and knows the Detroit real estate market inside and out. With this method, you can sell your house in Detroit fast and as-is and even skip out on paying any fees normally associated with a traditional listing. Detroit Fair Offer can actually buy your house and you won’t pay any closing costs or commissions!
If you’re ready to sell your house in Detroit after it was listed multiple times with no sale, contact us now! 313-647-8806