As economic pressures and life changes prompt more Detroit-area homeowners to sell quickly, a local broker with three decades of experience is urging sellers to focus on net proceeds rather than the headline price. Tennitia Wilson, broker-owner of Cosmopolitan Real Estate Services in Detroit, says that owners who understand their bottom line before accepting an offer are better positioned to protect their equity.
Wilson reports seeing stronger interest from investors and cash buyers earlier in the year than usual. Typically, these calls come in the winter months, but this year they have arrived sooner, drawn by owners who need to sell quickly due to a job change, family situation, foreclosure, or a move to senior living. These homes often sell within days. “When I get them, they’re gone in two days,” Wilson says. “Sometimes I could sell them just off my phone.” While speed may seem convenient, it can also lead sellers to leave money on the table.
Wilson’s central advice is to know your net proceeds before listing. She prepares a seller’s net proceeds worksheet that shows what the seller can expect to walk away with. When an offer comes in, she updates the worksheet to reflect actual terms, allowing the seller to judge the deal based on what they keep. “If they like that bottom line, and I’m close to what I told them earlier, they’ll take that deal,” she says. The worksheet helps sellers stay grounded when offers include closing cost requests, commission adjustments, and other terms that obscure the real number.
Wilson points to a current listing to illustrate why this matters. A home listed at $155,000 drew an offer of $165,000, above asking, but the buyer requested $9,000 in closing costs plus agent commission and fees. Without a net worksheet, the seller would not have understood what the offer actually delivered.
She also warns about buyers who move too fast. Many of the buyers contacting her are wholesalers looking to lock up a property below its potential value and resell the contract. Her advice is to slow down enough to get professional guidance, because an owner with a little time and the right help can often capture value that a rushed sale gives away. Distressed sellers are frequently dealing with a death in the family, a divorce, or a sudden loss of income, all of which compress decisions and reduce leverage. Having an experienced agent can level the field.
Wilson is candid that Detroit closings can require patience. “Many Detroit houses do not close on the first buyer,” she says. Financing can shift, and a deal that looks solid may need a second or third try before it reaches the table. She sees that not as a reason for discouragement but as a reason to work with someone who has managed these situations many times.
For owners facing a fast sale, Wilson’s message is practical: understand your numbers, get professional representation, and do not let urgency push you into surrendering equity you could keep. “You want to buy or sell and have a good experience,” she says, and with the right preparation, even a difficult sale can end well.
For more information, visit Cosmopolitan Real Estate Services and find market updates on the company blog.
