Grand Rapids Michigan Real Estate Blog

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Sellers Beware! Avoid 11 Mistakes That Could Cost You Hundreds .. . Even Thousands of Dollars! Part 1

Don't Put Your Home on the Market Until You've Read This Report - Part One

Selling your home can be an exhausting experience. Last minute walk throughs, inconvenient calls, price adjust­ment and the possibility of being stuck with two mortgages are real concerns. If you are not completely prepared you could end up losing hundreds, even thousands, of dollars in profit.

The difference between a profitable, seamless transaction and a break even, miserable experience is often a fine line. In the majority of cases it comes down to the subtle know-how of your professional. By utilizing the knowl­edge of a qualified real estate professional, you'll insure the quick, profitable sale of your home. This report is designed to arm you with the knowledge to avoid 11common mistakes that cost sellers serious money.

                       house for sale sign              

 

•1.   Refusing to Make Profit Inducing Repairs. It always costs you more money to sell 'as is' than to make repairs that will increase the value of your home. Even minor improvements will often yield as much as three to five times the repair cost at the time of sale. Your agent will be able to point out what repairs will significantly increase the value of your home. Seemingly small fix up jobs can have quite an impact.

•2.   Not Considering Other Financing Terms Cash is not always the most advantageous transaction. Income level, tax benefits and current legislation are all critical factors when considering purchase terms. Professional real estate agents are experts at home transactions and can show you the way to the highest yield.

•3.   Provide Easy Access for Showings Accessibility is a major key to profitability. Appointment-only showings are the most restrictive, while a lock box is the least. However there are certain considerations to take into account: your lifestyle, time frame for the de­sired sale and the relationship with your agent. The more accessible your home is, the better the odds of finding a person willing to pay your asking price. You never know if the one that couldn't get a viewing was the one that got away. By developing a trusting relationship with your agent, he or she will show the home with your best in­terests in mind.

•4.   Priced Too Low/Priced Too High. One critical reason to find the right professional is to make sure the property is priced appropriately for a timely and profitable sale. If the property is priced too high it will sit and develop the identity of a problem property. If it's priced too low it could cost you considerable profits. The real estate market has subtle nuances and market changes that should be re-evaluated by your agent every 30 days to help you maximize your return.

 

5.   Relying Solely on Traditional Methods To Sell Your Home The agent who is innovative and willing to offer new strategies of attracting home buyers will always outperform agents who rely on traditional methods. Demand around the clock advertising exposure, innovative lead genera­tion methods and lead accountability. These services exist and should be offered on your home sale. 

 Read Sellers Beware Avoid 11 Mistakes That Could Cost You Thousands of Dollars Part 2 here.

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The authors of the this blog write about Grand Rapids Real Estate,

the Greater Grand Rapids MI area, and what it is like to live in

West Michigan.  We believe: Grand Rapids is a Great Place to Live!

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Westbrook Realty Grand Rapids MI Real Estate

                          Contact Terry   616-292-7263

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Comment balloon 4 commentsTerry & Bonnie Westbrook • October 25 2009 08:43PM

Comments

Hi,

Great post! Vital information for all sellers everywhere! Thanks for the snapshot highlights!!!

Vera in Sunny Melbourne, FL

Posted by Vera L. Koon, Realtor (The Waterman Team) over 9 years ago

Vera: We need to give sellers good info especially in this market.

Posted by Terry & Bonnie Westbrook, Westbrook Realty - Grand Rapids Forest Hills MI Re (Westbrook Realty Broker-Owner) over 9 years ago

Excellent points, Terry. Probably my biggest problem at times is access for agents. I tell sellers with tenants to get rid of them and show the home vacant.

sacramento agent

Posted by Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents, Put 40 years of experience to work for you (Lyon Real Estate) over 9 years ago

Elizabeth: It is difficult to sell it if they won't let you in. Access is so important.

Posted by Terry & Bonnie Westbrook, Westbrook Realty - Grand Rapids Forest Hills MI Re (Westbrook Realty Broker-Owner) over 9 years ago

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