How NOT to choose a Real Estate Agent in the Grand Rapids Real Estate Market
*Note: Grand Rapids, MI Real Estate and the surrounding areas are my
market, but I believe this information stands for
almost every area in the nation.
Choosing a Grand Rapids Real Estate Agent can be a real challenge. But choosing an agent in the West Michigan Real Estate market for the wrong reasons can spell catastrophe. It can mean your Grand Rapids home is on the market much longer than you planned and it can cause you to get less for your house than what you anticipated.Selling homes in West Michigan can be a real challenge if the seller is not serious about selling. All West Michigan Homes have dropped in price, including Hudsonville Homes, Allendale Homes, Jenison Homes, Ada Homes, Forest Hills Homes and Byron Center Homes-- all have gone down in price since January of 2007. As we are getting ready for the new year of 2009, it is still a reality we’re dealing with. It isn’t a pleasant fact and no one wants to hear it, but it is reality.
Seeing your investment lose value can be a very emotional thing, especially when you don't have the luxury of waiting until the home gains value again. Unfortunately, the best thing to do when hiring a Grand Rapids real estate agent to sell your home, is to take you’re emotions out of the equation. As difficult as it is, you need to price your home with the facts presented, not your emotions.
It isn’t that your feelings are not important; it is that the West Mi real estate market doesn’t consider your feelings when it sets the market value of your home. A buyer can not pay you a high price because that is what you need or what you want. Many buyers are very compassionate, but they cannot base their offering price on what you need. When you look at the stock market and a stock falls, it is what it is. You can’t argue with your stockbroker that the stock is certainly worth more. The market has set the price. The Grand Rapids Real Estate market is very similar to the stock market. The only difference between the stock market and the housing market, is that you, the seller, can choose the price your home hits the West Mi Real Estate market with.
When a seller doesn’t tuck his emotions away, he tends to make an emotional decision when hiring an agent. He hires a Grand Rapids Real Estate agent based on the price he wants to hear, instead of hiring the realtor that is truthful with him. Sometimes, a seller gets angry with an agent for the price he suggests. In reality, the real estate agent has no more control over the market value of the house, then what the seller does. The market will set the value of the house because your house is only worth what a buyer is willing to pay for it.
Make sure when you hire a Grand Rapids Real Estate Agent, you hire them based on their marketing plan, their willingness to tell you the truth and if the agent has a personality you can work with. The only time price should be considered, is to rule the agent out because the price he is suggesting is significantly less or significantly lower than the other agents interviewed.
I can beat you up now or I can beat you up later. What some agents will do is tell you they can get a higher price for your Grand Rapids house, just to get the listing. Then they figure they will just keep getting price reductions--it's called "buying the listing". Unfortunately it is proven that you end up getting less for the house because buyers think there is something wrong with the house. A good agent will just give you the information to begin with so your home gets a higher price in the endLastly, don't hire an agent to sell your home because your cousin just got his license or because you are related. Interview them just like you would interview anyone else and make your decision based on their knowledge and experience in the West Michigan Real Estate Market.
Look for part 2 of, How to Hire a Real Estate Agent, in an upcoming blog when we discuss how an agent arrives at a price for a Grand Rapids Home for Sale.
All rights reserved to Tami Vroma, Five Star Real Estate - Grand Rapids Homes for Sale
Hi Tami! This is spectacular info on finding a great REaltor to asisst and you are correct, it works in every market. I like how you "put it all out there" and answered the questions the consumer doesn't know to ask...that's sooooo important. KM
Kristin - You rock my world girlfriend. Thanks so much for taking the time to email me also!!
This is an excellent post, I am currently working on a relocation ERC, tough one the price is all over the board, but my gut feeling says it should be the lower price. I would like to print a copy of this to take along.
Kathy you are more than welcome. Another thing I use is a David Knox dvd called Pricing Your Home to Sell. I usually drop it off right before the listing appointment and ask them to please make it a priority to view it.
Tami your post is excellent as always. I give them a dvd or video also. Pricing is one of the biggest factors in todays market, along with hiring THE RIGHT REAL ESTATE AGENT.
Tami, Great post. Hiring a good agent is important in this market.
Dona - Thank you for your kind comments!! That video is pretty important to help them price the home right!
Gita - Thanks for stopping by. One thing I am notiicing there are a lot of realtors leaving our industry. If you aren't going to put your all in it --don't do it!
Excellent information and can't be stressed enough especially today. I think if they hire the other agent for the wrong reason and you did your job you/we are all better off anyway.
Great ideas and useful info as usual. Thanks
Angelica - Yes we are probably better off aren't we!
Marilyn - Thank you! I'm glad find it useful!