Selling a Michigan Home: Here’s What You Need to Know

On average, Michigan homes sell in 95 days or more. And this is only if the offer is received quickly and there are no problems when inspecting, evaluating and closing the house. However, there are ways to sell your home quickly with https://www.jithomebuyers.com/mi/ In a matter of weeks or days! Selling fast is a key, but maximizing your profits is just as important. In this article, I’ve covered two aspects: how to sell your home quickly and for the highest possible amount.

4 Best ways to sell home:

  • MLS listed house
  • Pricing aggressively
  • Competitive buyer agent commissions
  • Quick response to inquiries, impressions.

The best time to sell your home in Michigan is from April to July. On the other hand, June has the lowest market day (DOM), indicating that homes are selling the fastest this month. For example, in Detroit, Michigan, June and July seem to be perfect months to sell a home. It is estimated that if a Detroit home goes up for sale in July, it will sell for 8.94% more than the annual average. However, the best sales month varies by region.

Michigan Real Estate Selling Options

There are different routes when it comes to selling a Michigan home. Making the right choice at the right time can save you thousands of dollars.

Option 1: One way to avoid hefty Michigan realtor fees is to sell your home for sale by owner (FSBO). This is a DIY method without the involvement of a listing agent. Merchants have maximum control over the entire process, but must handle all paperwork without oversight. The idea of ​​selling your Michigan home to the FSBO has its downsides. While you save on commissions, you have to handle everything yourself: listing, marketing, negotiations, closings, etc.

Lack of exposure to MLS: MLS is the most important tool an agent has. An FSBO sale means limited exposure, so there will be less competition for your property. This will probably lower the selling price. One study found that MLS homes sold for 17% more than non-MLS homes.

No Help When You Need It: If you need help with paperwork, checks, negotiations or closings, you can do it yourself with For Sale by Owner.

Option 2: Register with a Traditional Full-Service Agent You can always hire a full-service agent to help you sell your home. From listing to closing, our agents will help you with everything. But of course you pay the full commission to the listing agent, from 2.5% to 3%. The main downsides of traditional full-service agent listings.

Huge fees cost thousands of dollars: Average real estate fees in Michigan are between 5% and 6%. Thousands of dollars in fees listed.

Limited control over your sales: everything goes through your agent. This reduces the risk of doing the wrong thing, but also limits your control over your trades. You should ask your agent about almost any question; whether there were counter offers, closing status, number of impressions, and more.

Slow manual process: Agents do the work manually. A simple price change consists of several steps. The agent can talk to you over the phone, create a price adjustment, ask you to sign, and then update the price in MLS only after you sign.