Do you need to sell your house fast in Detroit? It important that you understand the options available to you. Hiring a real estate agent is not the only option to you. There is more than just one way to sell your Detroit home. Working with a real estate agent may or may not be the best option for you. In this post, we will dive into two of the most popular ways to sell so you can decide which selling option will be right for you.
Hiring A Detroit Real Estate Agent
You likely know you will have to pay your agent a commission of about 5-6% if they are able to successfully sell your house in Detroit. However, there are also a number of other costs that will come into play when listing your house for sale.
- Marketing – Many home sellers want or need to utilize marketing that goes beyond the scope of their agent. This can be professional photography, virtual tours or premium listings.
- Repairs – Even if your house is in great shape, there will likely be something that will need fixing. Whether it is a new coat of paint, replacing a leaky faucet or patching a hole in the wall, these repairs will add up fast.
- Staging – When you list your home you will want it to look its very best. This means you should take some time to hide away the clutter and decorate it in a warm and inviting fashion. Whether or not you hire a professional stager in Detroit, making the house pretty can cost a pretty penny.
- Holding Costs – The holding costs include things like your property taxes, homeowners insurance, utility bills, and maintenance. These costs don’t stop when you list your house. In fact, keeping your house in tip-top shape can actually drive your holding costs up even higher.
- Closing Costs – As a home seller, you will usually pay somewhere around 2% of the final sale price toward your closing costs.
- Cleaning – Before you list and while to is on the market, the house will need to be kept clean. Many people opt to have it cleaned professionally before it is listed, maintaining the home while it is listed. You should also consider professional carpet cleaning, power washing, and yard clean-up and hauling expenses.
That said, working with an agent has the potential to get the highest price possible. Just be sure you have deducted all of the costs mentioned above to be sure listing with an agent in Detroit makes sense for you.
The Waiting Process
When you hire a real estate agent to help you sell your house in Detroit, they will shoulder a good portion of the effort that goes into selling. That said, the process will require some of your time and effort as well. For example, you will likely have to spend time…
- Keeping the property clean and ready for those last-minute showings
- Making repairs and upgrades to the property before it hits the MLS
- Marketing the property on sites other than the MLS
- Vacating the property when someone requests to come see it
- Waiting for an offer, hoping you will get your asking price
- Reviewing offers from potential buyers
- Negotiating with potential buyers
- Waiting for the escrow process to be completed
- Dealing with inspectors and appraisers
The worst part is that you could go through all of the above, only to have the sale fall through at the last minute. If you’ve spent any time shopping for homes in the past, you’ll often see properties go pending, only to be relisted when the funding falls through.
One of the most difficult parts of selling your house with a real estate agent in Detroit is the unknown. You won’t know if you will get your asking price, when, or if your improvements will provide returns. Not only is this stressful, but it also makes it difficult for you to plan ahead.
Selling To An Investor
It’s no secret that when you sell your house to an investor in Detroit, the sale price will not usually be as high as retail. That said, the amount you can save will more than make up for it. Most direct homebuyers, including Detroit Fair Offer buy houses as-is, which means there are no repair costs to worry about. You will also not have to pay commissions, closing costs or extended closing costs.
In most cases, we are able to close in just a few days, potentially saving you a fortune in holding costs. You won’t have to do a thing other than pack up the items you wish to keep. We will handle everything else, including any items you wish to leave behind. Working with Detroit Fair Offer will help you sell your house in less time, offering you convenience and a fair price. When you consider the time and the money involved with working with a Detroit real estate agent vs. selling to a local investor, your idea of how to most efficiently sell your house may change.