You landed on this page about “How to sell your house by yourself in Hazel Park Michigan” because of a few reasons I’m guessing:
- You have no or very little equity in your house so you can’t afford to pay a real estate agent’s commissions.
- You have equity but want to try to save money selling the house yourself before you resort to hiring an agent.
- You’re in foreclosure (or heading that way) and just need to sell fast without incurring thousands in agent commissions.
- You can’t wait the months and months it sometimes takes to sell a house in the Hazel Park MI area in this market so you want to try to sell it faster.
Whichever one you land in, there are ways to sell your house yourself here in the local Hazel Park real estate market.
Since 2013, the housing sector has been experiencing a major recovery. Selling your house at this time will definitely be profitable if you do it right. In most cases, it is about using smart marketing strategies and being realistic about your expectations on what you want to achieve with this sale.
This article will provide some guidelines to help you sell your Hazel Park MI area house yourself.
How To Sell Your House By Yourself In Hazel Park MI
Know The Hazel Park Real Estate Market Well
The first and most important step is doing market research on your neighborhood in the Hazel Park MI area. This step involves visiting various home marketing sites (Zillow, Eppraisal the Chase home value estimator, etc), calling a real estate agent or two to see what your home is worth, or reading about the various market pricing techniques. Proper homework on these issues will allow you to come up with a reasonable price for your house. Italso helps you to avoid making certain selling mistakes.
If you don’t want to hassle with trying to come up with a home value yourself, give us a call at 586-307-4330 and we’ll give you an honest, fair valuation of what your house is worth on the retail market (if you’re going to wait the 3-6+ months to find the perfect retail buyer). If you’re interested, we’ll make you a fair, all-cash offer on your house to give you that option of selling quickly (we can close in as little as 7 days if you want to).
Asses the market
This step is almost similar to conducting market research, only that in this case, you are bound to your neighborhood and similar houses. Are there several of houses for sale in your neighborhood here in Hazel Park? If so, what is the average that they are listing for? Are there lots of foreclosures in your neighborhood? That may drag your house price down. It’s also incredibly important to look at the SOLD houses in your area. Listed houses can give some kind of guideline, but typically, people ASK way too much for their property, and end up selling for significantly less than their initial asking price.
Asses the house
As a seller, if you want to get retail value your house should be in RETAIL condition. It doesn’t matter if the house next door sold for X amount of dollars. If your house needs work (even normal wear and tear like paint, flooring, scuffs, etc), you can’t expect to get the same price as a the remodeled house. Identify certain unique characteristics about your house and emphasize them during the marketing. For example, in Hazel Park, a house with drive way parking may be more attractive to buyers compared with street parking.
Again, does your house require repairs? Does it need to be repainted inside or out? How is the condition of the roof? Is the landscaping in good shape? Is the house outdated at all (those baby blue bathrooms aren’t so popular these days ;))? All of these things can make the house more attractive or less attractive depending on the buyer, which changes the price they’re willing to pay.
After all of this, come up with an asking price for your Hazel Park MI home that is fair. You’ll be much better off asking a reasonable price which will generate numerous offers, than waiting 6+ months with a high asking price.
Use Photos or Videos
Michigan buyers are obsessed with media. Taking walk-through videos of the house and using the videos to advertise will enable you to reach a wider market. In fact, these videos are considered more transparent than taking photos. However, this should not stop you from using the latter option since it is more affordable compared to the video.
So take some great pictures. Take a picture of every room in the house that helps show it off. Take a pictures of the house from the outside in a few different angles. People want to see the house before they ever show up to see it. Having great pictures of your house online could be the difference between getting the right buyer quickly and waiting months and months to sell.
Get Your House “Listed” On The Local Hazel Park MLS
You can find no or low fee real estate brokers these days who will charge you a few hundred bucks to put your house on the local Hazel Park MI MLS. This gets your house in front of all of the real estate agents quickly (so be prepared to pay those “buyers” agents a 2-3% buyers broker fee if you plan to have their support in helping you find a buyer).
Place ads in the local newspaper, signs on the roads, and hold an open house.
Selling Your Hazel Park MI House Can Be A Lot of Work
Many Hazel Park house sellers think they’re saving money and time by marketing the house themselves, when in the end, it often costs them more money to go that route.
When you sell your own house here are some things you need to consider:
- If you’re not a good marketer or aren’t ready to spend a bunch of time marketing your house right, selling it yourself may not be your best bet.
- If you don’t do a good job preparing the house and the marketing materials, you may actually sell the house for 3-8% less than an experienced seller.
- Too many sellers never think about holding costs or opportunity costs. Every month that your house doesn’t sell means another mortgage payment, tax payment, insurance, utilities, etc. If your mortgage payment is $900/mo and $700 of that is interest, that cost you an extra $4,200 if you take the average 6 months to sell. That doesn’t even include taxes and insurance and utilities during that time.
So, if you were able to sell that house much faster, would it make sense for you to provide a buyer a discounted price today, so you can close quickly and move on? Something to think about.
At Cash Buyers Macomb, we actually buy local Hazel Park Michigan houses. We don’t require ANY commissions or fees, we buy the house AS IS, and we purchase the house quickly with cash. We do ask for a discounted price as we’re assuming all of the repairs and closing FAST. However, you’ll save on commissions, fees, closing costs, holding costs, TIME and STRESS.
We’d love to make you a fair, NO OBLIGATION and NO HASSLE cash offer on your house.
We can close quickly (in as little as 7 days if you wanted to), which would save you thousands of dollars vs. trying to sell the house yourself and waiting for months.
Also, when we buy local Hazel Park MI houses, we do all repairs that are needed (we pay for it ourselves), so you don’t have to worry about that.
If you want to see what we can pay for your house, give us a call today at 586-307-4330 or just fill out the quick simple form through the link below.