The biggest mistakes home sellers are making today in Metro Detroit could cost them time and money. Here’s how to avoid those pitfalls and sell your home successfully and possibly for more 💲.
The Biggest Mistakes Home Sellers Are Making Today
The housing market is currently experiencing a significant shift. With the economy cooling down and mortgage rates dropping dramatically in the first week of August, potential buyers are reevaluating their plans to purchase new homes.
1. Understanding Mortgage Rates
let’s face it! At the end of the day, we must feel comfortable with our monthly mortgage payment. No one wants to be house-poor, and all home buyers want to feel confident they are negotiating the best price for their mortgage rate and fees. The only way to do that is to know the trends:
- Know the Why’s not the What’s
- Learn how to predict where mortgage rates are heading in term and day-to-day.
- Know the formula for how Mortgage Rates are calculated.
To stay updated and crack the mortgage rate code, consider bookmarking “Today’s Mortgage Rate: Crack the Code and Save💲.”
Staying informed is crucial. Without knowledge of the latest trends, you cannot adjust your strategy or expectations, leading to costly mistakes when selling your home in Metro Detroit. Here are some of the biggest mistakes home sellers are making today.
2. Marketing and Advertising ~ How to Make More 💲
I recently found a blog post by the National Association of Realtors (NAR) on how to market your home for more money, and I was disappointed by the advice. Unfortunately, the recommendations, listed and graphed, are what many real estate agents are taught today in Metro Detroit. (click the button below to review the full blog post)
There are two ways to make more money: explaining the Process of Selling Your Home for More Money and marketing.
The focus was on exposure (seeing the house) rather than influence (making buyers act). Simply relying on exposure means competing on price alone with other homes on the same public platforms. The link below reflects the National Association of Realtors (NAR) recommendations, which I think missed the mark. You need to take your marketing and advertising to a new level to ensure you are not leaving money on the table for the buyer. I find this to be the #1 Biggest Mistake Home Sellers make.
3. Master Home Pricing
Selling your house in Metro Detroit can be exciting but challenging. One of the most crucial aspects of this process is setting the right price. Even in today’s seller’s market, where demand for homes is high, choosing the correct listing price is essential. If you’ve contemplated selling your house, here’s what you need to know to make informed decisions and avoid common pitfalls. The biggest pitfall is that agents and home sellers don’t understand the difference between price-driven and value-driven approaches. Knowing the facts here will put more money in your pocket. 🤩
I’ll walk you through the blog post so you can Master Pricing Your Home without a Realtor. You can access the Flex Multiple Listing Service System to review current, pending,g, and sold home prices and check out how your competition is doing.
4. Understanding the Housing Market Trends and Inventory Levels
Take control of your home-buying or home-selling journey with direct access to our Multiple Listing Service (MLS) through our unique bridge access feature. Dive into detailed, real-time graphs and trends, and explore home prices across different cities and price ranges at your own pace.
Curious about recent selling prices? You’ve got access to up-to-date sold data, too. Skip the headlines and get the facts straight from the source.
5. Don’t Skip Repairs – Small Fixes Matter
Ignoring minor repairs can turn buyers away. A leaky faucet or squeaky door might not bother you, but to buyers, they signal neglect—and possibly more significant hidden issues. This can lead to lower offers or costly concessions. The Fix? Handle Small Repairs Before Listing. Work with your agent to tackle easy fixes before showings. A little effort now can lead to faster offers and a better price!
As Investopedia warns:
“Failing to [address minor issues] can reduce your sales price and may also prevent you from getting a sale at all.”
6. Knowing the Answer to the Top 3 Selling Questions
Mortgage rates are affecting today’s housing market in Metro Detroit. This might leave you wondering if it still makes sense to sell your house and move. Here are three top Home Selling Questions you may have and data to answer them.
7. Pricing High to Leave Room for Negotiation
Another common but mistaken approach is to list your home at a higher price, thinking it will give you more room to negotiate later. However, this can have the opposite effect. When a home is priced too high, potential buyers are often discouraged from looking at it. Instead of creating room for negotiations, you might be pushing buyers away.
8. Be Open to Negotiation—It Can Seal the Deal
With high home prices and rising mortgage rates, buyers are feeling the financial strain. That means their initial offer might come in lower than you’d like—but don’t take it personally. Stay focused on your goal: selling your home. Your agent can help you confidently negotiate and keep your emotions in check.
Buyers also have more options in today’s market, giving them greater bargaining power. They may request repairs, closing cost assistance, or other concessions. Instead of rejecting these outright, consider small compromises that keep the deal moving.
Smart negotiation doesn’t mean giving in—it means finding common ground that benefits both sides. Stay flexible, trust your agent, and don’t let a great opportunity slip away.
9. How the Right Real Estate Agent Can Help!
The biggest mistake of all? Not using the right real estate agent to sell your home. To me, education is key, and if you don’t have all the information, how can you make the best decisions that work for you? Keep in mind that the national trends are just part of the picture. The housing market can vary a lot depending on where you live. That’s the best advice from a local real estate agentwho knows your area well, and it is a good idea. I recommend reviewing their website and reading what they write. The first clue is: Do they know the market in Metro Detroit?
Understanding how the market changes can help you make the best decisions, whether you’re selling. Your agent has the latest information and local insights to guide you.
Confidently Navigate Home Selling Process! Let’s Connect ⤵️
Contact me with any Questions
Schedule an Appointment ~ Call | or Zoom Consultation Here
Important Consideration
Overpricing your home can lead to significant setbacks. A skilled real estate agent offers an unbiased view, a deep market understanding, and a smart strategy for setting the right price.
Let’s connect to ensure you avoid a pricing misstep that could hurt your chances of selling.⤴️
More Help Is 1️⃣ Click Away⤵️
Today’s Mortgage Rates: Crack the Code and Save 💰💵💲
Is a Housing Market Crash in 2025 Coming❓ Find Out 🔎
Mastering an Offer on a House: 5 Smart Ways to Win 🏆
Spring Housing Market 2025: 🎯 4 Things to Expect in Metro Detroit
How to Tell if Your House is Priced Right? Let’s Find Out 💲🤯
Metro Detroit Home Prices by City and Real Estate Trends 🏡💲
House Hunting Just Got Easier – Here’s Why🥳🏘️
Why Mortgage Rates at Risk: Trade War Fall Out 🎢🚀
Home Inspection: The One Step You Shouldn’t Skip🔎🏡
Does Your Current Home Fit Retirement Plans❓🏡
Crack the Mortgage Rate Code: Know the Why💡 and Save💲
Paused Your Home-Buying? Why Waiting Could Cost You More⏯️
How to Market Your House for More Money💲🏡🎥
Will a Recession Crash the Housing Market in 2025🌩️🏠
Why Overpricing Your House Can Cost You😨
Home Buyers: Save by Maximizing Your Negotiation Power🌷 🏡
Foreclosure Locations: Will We See A Wave❓🏡 🎯
Why Mortgage Rates Dropped 📉 and What It Means for You💰💵
Are There More Homes for Sale in Metro Detroit this Spring💐🏡🛒
Your House Didn’t Sell? 🤔 Here’s Why Now is Different 💰
☎ ~ +1 (248) 343-2459
Contact Us
Website Development, Production, and Content by Pam Sawyer @ Team Tag It Sold © 2017 to the current year. All Rights Reserved
The information contained, and the opinions expressed in this article are not intended to be construed as investment advice. Metro Detroit Home Experts ~ Team Tag it Sold does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Metro Detroit Home Experts ~ Team Tag It Sold will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
