One of the biggest advantages when listing your home by owner in Michigan is that you know you will be making the profit, not a real estate agent. The real estate agent can charge up to 6% commission of the total price, which can drastically reduce your bottom line.
While hiring a real estate agent is not bad, in this soft economy many people are trying save money they would have had to pay a real estate agent. And as a buyer, why pay more for the property when working with a seller directly gives you more room for negotiation to lower the price?
Selling by owner in Southeastern Michigan (Southeastern Michigan) is booming, we’ve been noticing that lately, and a quick glance at newspapers and internet advertisements across the state shows more or less the same.
Michigan Homes For Sale By Owner
Michigan homes for sale by owner, at heart, is the preferred way for many people to sell their home in this declining housing market.
Selling your own home offers a number of advantages over a traditional real estate listing through an agent. These are the most prominent:
Michigan Homes for Sale by Professional Owners
- You are in full control.
- You set the price and negotiate the closing.
- You decide when, where and how you advertise.
- You control the open days, exhibitions, etc.
- As a buyer, you can find Michigan homes for sale by the owner at cheaper prices because the middle man (and the fee) is out of the picture.
- Selling by owner or FSBO is advantageous for both buyers and sellers as it puts them in direct contact with each other.
- Michigan homes for sale by owner generally mean lengthy negotiations are reduced because there are no more third parties. The buyer and the seller are in direct contact with each other. Offers are made and accepted or rejected much more quickly.
- The game of telephone etiquette with an agent waiting to see if an offer has been made or if an offer has been accepted is gone.
- Negotiations are more productive because potential buyers and sellers are motivated to agree on terms.
- Buyers can get their questions answered directly about the property from the party who actually lived in it.
Quick Tips for Buyers:
- Read local newspapers for FSBO listings For sale by owner SE Michigan ads are easy to find in major newspapers and on the Internet. Visit mlive.com or subscribe to the Ann Arbor Observer.
- Do your research on the property. FSBO sellers must offer full disclosure of property information, but just like when it comes to a real estate agent, this is not always the case. Or let us put it in a house. As investors, we have unique programs to get you a nice home in Michigan, even if you have bad or bad credit … in the city where you want to live and with a monthly payment you can afford.
- Consider using a buyer’s agent or using a real estate investor like us if this is your first purchase to help you with negotiations and legal matters.
For sale by owner in Michigan
Quick tips for sellers
- Do your research. Find out what the market is like for FSBOs in your specific area. Look at similar Michigan homes for sale by owner in your neighborhood and similar communities. Check compositions on websites such as http://www.zillow.com. Additionally, real estate investors, like us here at Buy-Sell-Michigan-Real-Estate, can also help home sellers by buying their homes for cash or on condition if they are genuinely motivated to sell.
- If you are considering selling by owner in southeast Michigan, consider hiring a real estate appraiser. Appraisals can be profitable and will provide you with professional advice on the market value of your home with a one-time upfront cost. Real estate investors like us are also connected to professionals who can do a good job determining the fair market value of a property.
- FSBO listings (in newspapers and on the Internet) offer cheap and affordable advertising for your home in various places. FSBO Advertising also provides targeted advertising directly to buyers looking for FSBO properties.
- Prequalify home buyers. Require potential buyers to be pre-approved for loans in the amount required to purchase your home. Or if you can’t find anyone who can get pre-approved, talk to creative real estate investors like us who can get buyers to finance your home if you’re willing to work properly.