We've put together endless articles on how to purchase homes, renovate homes, and all of the tips and tricks in between that are needed to be successful in real estate in Detroit. However, do you have a home that just isn't moving? There are a few key reasons why, and we can probably guess that your home meets one of these faux pas.
- Overpricing and knowing you're going to negotiate - Price is single-handily the most important element to selling a home. If you can find something at the right price, you can compromise on other areas such as size, and even location. However, some people think that by overpricing their home, with the notion that they'll negotiate the price lower, if they have to, then they're covered. This is completely wrong. If you don't price your home fairly, you're less likely to even receive an offer, and the negotiation won't even happen. When you price a home fairly, more offers are likely to come in the door, giving you more negotiation power, in your favor.
- Marketing in only one area - Your home is almost like your brand. You need to convince the people and real estate professionals around you that your home is better than the one next door. If you only placed a single ad or flyer out into the community, how much of a response can you possibly expect? The more you market your home, especially in a competitive market, the better your chances are when trying to sell.
- Pictures of the home came from your phone - We always suggest going the professional route, in any area that you can. Unless you're a photography guru on the side, professional shots of both the interior and exterior of your listed property are key to luring in buyers that haven't just driven by and noticed your for sale sign. When buyers are searching online for homes, the options are endless. Make sure your home stands out amongst the rest!
- The renovations are cheap - While we have stated before that over-rehabbing a home isn't necessary, we didn't mean that you should cheap out on updates. Don't just think you can get away with the absolute minimum, and never receive an offer. A few extra dollars will go a long way!
- Ignore the outside of the home - Curb appeal is real, and if you're not catering to the eyes, then your potential buyers are going to drive away. We know that Michigan weather is volatile, but even in the harshest of conditions, make sure the exterior of your home is kept up. Plant some flowers, trim the branches, and keep the lawn cut appropriately, and you'll be more likely to gain offers on the table!
Does your home fit into any of these categories? If so, it's time to start fixing things up and get your home back on the market as a strong selling contender!