Another Amazing Real Estate Tale from Grand Rapids Michigan
I have a story to tell you, about a house that wouldn't sell.
This is a true story but the names and places will be omitted
so that no home sellers are injured. This won't be a new story
for anyone in the real estate business for the last 4-5 years.
But apparently, people in the consumer selling arena still
aren't familiar with the facts of home selling these days.
There was a VERY NICE home in a VERY NICE neighborhood
ina VERY NICE community near you. The community has ex-
cellent schools, low home inventory, and lots of people who
would like to live there. The home owners listed their VERY
NICE home with a local company and waited.
BUT, the home didn't sell.
And it didn't sell.
I am sure the original listing agent suggested a price decrease.
Well, wouldn't you? But they got a different agent, a friend in their
church group had just enterd the real estate business. They were
sure that the new agent would be able to sell the home at
their price. She was so nice.
And it didn't sell.
So they got a different real estate agent again.
The sellers knew that a really big company with lots of agents
to sell their home would make all the difference and they could
get the price they wanted. The new agent was recommended by
a neighbor. But they had their price in mind, they were firm.
And it didn't sell.
So they interviewed 3 agents and hired the one with the best
marketing program. Their home was exposed to every venue
on the internet and to some they never had heard of. This was
going to work this time, even with their original price. They had
a marketing genius!
And it didn't sell.
They had lots of showings. In fact, when the phone rang, the
lady of the house cringed because she was tired of preparing
their home for showings with no offer. It was so discouraging.
But their agent said, "You just never know, this might be "the one"."
They got an offer. It was below what they were asking by about
12%. Should they be insulted? Should they consider this offer?
Their agent had been asking for a price decrease. Was this a
reasonable offer? Their home had been on the market for
almost 3 1/2 years at the same price. But they had put so much
money into it.
To protect the innocent, and move the story along, the Listing Agent
was finally able to negotiate the offer acceptance.
And the home sold.
Moral of the Story: Home prices will flucuate on what buyers
feel the home is worth. Buy a home to live in and enjoy but
when it is time to sell, the current market will dictate the price.
Sometimes you win, and sometimes you lose.
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