My Home Won't Sell! Common Mistakes Homeowners Make When Selling a Home in Metro Detroit

Ask just about anyone who owns a boat how they like it, and they'll tell you that the best days to own it are the day you bought it, and the day you sell it.  Thankfully, owning a home in the Metro Detroit area isn't quite as dark -at least until it comes time to sell it. 

I've heard horror stories from homeowners who took major hits on property they held for years once they sold it.  Eyes well with tears when they sign property over.  Sometimes it's due to financial loss, other times it has to do with the emotion and memories tied to a home.

For some homeowners however, grief comes from a different source - such as when a home can't get sold at all.  When you're stuck sitting on a property, especially when you need to sell your home in Michigan, that asset can turn into a liability.  Finding buyers becomes a painful chore even if you're highly motivated. 

There are a number of reasons why this happens, and if you've experience this problem where you're unable to sell your home then consider that it might be one of the following reasons:

Home is Priced Too High

One of the worst mistakes in selling a home in cities like Northville, Novi, Royal Oak, Birmingham and other cities with higher home values is sticking the wrong price tag on a home.  This often occurs when homeowners attach sentimental value to a property as well as a skewed image of the property value based on the area. 

Another cause for a high price tag is that homeowners think the amount of work and love they put into a home commands a higher price tag, and they're worried about not making a profit when it sells.  What it boils down to - If a home is priced too high, buyers won’t even bother looking at it.

Pricing a home to sell is a bit of an art that real estate agents practice and perfect in Michigan.  Part of your home's market value is based on comparable sales but there are other factors that include market movement, current housing demands, the location, the economy, the condition of the home and more.

A major downside to overpriced homes is interested buyers may dramatically low ball, resulting in immediate rejection without negotiation.  Whatever you do, don't let a real estate agent in Metro Detroit push you into signing an overpriced listing.  If you do, you lose the competitive edge and risk having your home sit without being sold.

Poor Condition of the Home

Getting your house ready to be sold goes beyond cleaning it and dusting;  I have seen plenty of homes where buyers come to inspect the interior and finds toys scattered, messy dishes, peeling paint, stained carpet and worse - and they can't get out of the house fast enough.

It's in your best interest to invest some time and money to properly update your home.  You don't need to do a full renovation, but you need to address the common visual items that can turn off a buyer.  In addition, a good seller's agent in the Detroit area can help you with staging your home - much like arranging flowers in a bouquet to make it more attractive.

Poor Marketing

Marketing can stop a buyer cold in their tracks and force them to pick up the phone to schedule a walkthrough.  It can also push the same buyer away.  Bad photos are the number one cause, but not properly describing the perks and amenities of a home or relying on buzz words can be a turn off to buyers.

Dealing with Inexperienced Agents

New agents come into the Detroit market each year to try and get a slice of the real estate pie.  Not to say all new agents won't perform, but an experience agent (especially a full service agent or realtor) has a lot more to offer someone selling their home in Northville than an agent who just got his or her license.  An experienced agent knows how to market, knows your community, knows the current housing market, where to find your buyers, how to negotiate and more.  You will have a hard time finding that with a new agent.