Grand Rapids, MI

Thinking of Selling your home in the Grand Rapids Real Estate market?

We produced a short video outling some of the steps of home selling. You can visit our website for more selling details and a FREE "Home Seller's Checklist"

Let us know what you think of the video by clicking the like button.

Thinking about buying a home in Grand Rapids Michigan? Get yourself financially qualified by a lender, your first step.

Buying the home of your dreams club be one of the best opportunities of your life or a emotional roller coaster without a lender pre-qualification letter. Seller's will view your offer as legitimate with a pre-qualification letter. Without this step being done your offer will only be viewed with skepticism by the seller's

Flexit Realty offers professional buyer agents living neighborhoods just like yours. Take a moment and view our buyer agent video. It will help you with a few other home search opportunities.

Give Flexit Realty Buyer Agents a call for personal home buying help.

If you have difficulty playing this video here is a direct link to YouTube to see the video. Flexit Realty Buyer Agents

Do I look Like your personal ATM?

Real Estate Agents and Brokers are in the business of real estate, selling homes. I maintain an office in Grand Rapids Michigan under the name Flexit Realty®. The name was created from “Flexible Real Estate Solutions” but that isn’t why I look like an ATM.

From time to time we all hear from potential clients the reasons why they can’t buy. We hear why they will have trouble paying the rent. We even hear why they are moving. Most of the time you have to feel for the economic situation that has caused them so much misfortune.

People become desperate and bargain without anything to offer for collateral. I receive calls nearly everyday from a buyer who knows they cannot buy, before they call me.

This may seem harsh to you, I run a business for profit. If I don’t make a profit my office closes, my agents find another real estate broker to work with and that is that. The problem is, I like being a real estate broker in Grand Rapids, Michigan. I have lived in Grand Rapids for the better part of 35 years, since 1972, minus the 5 years in Florida and a couple years traveling.

I was asked if I could loan a buyer, I don’t know, the money for the down payment to purchase a home. They would pay me back right away. As soon as they saved the money, they had a good job at Wal-Mart Sam's Club, driving a forklift. I knew I looked like an ATM, my own grown children think so too! I may have a big soft spot for people in need, I like making an impact on peoples lives, without putting my business or personal life in jeopardy.

I don’t intend to minimize hard work or driving a forklift, I have done that and more. In my own company, as president, to get shipments out the door on time I drove a forklift, packed and taped boxes right along side my hourly workers. As I recall they laughed and had fun with me, fixed my mistakes, showing me why I designed and they did the manufacturing.

Let’s face the facts, I don’t know anything about my clients other than they are great people. Some of them have become life long friends. I remember them all, and they have each contributed to my success and my companies success. Do I want to become a home mortgage lender? Do I want to cross the line and become more than I am are real estate broker and agent? NO, I have a business to run and profit keeps that business running. Do I want to be an ATM no, that isn’t my function as a Grand Rapids real estate broker, a home selling agent or representing buyers as a buyer’s agent in Grand Rapids.

I want the best possible outcome for my clients, I work hard to make sure that happens, just like my agents and other professionals in the real estate industry. I invest in my business and in my clients homes for sale. I invest in my agents with tools and knowledge skill sets to help them represent their clients better.

I feel bad for people that have put themselves in a fix, but I cannot fix all their problems. I feel bad for those that have not learned you must sacrifice for what you want. You must save for what you want. We live in the "Land of the Free and the Home of the Brave". We step out and work for our goals. The great result of that work, most people are able to achieve their goals of home ownership. It may not be in their time frame but they can do it with 3.5% down for a conventional loan. My first house was 20% down and my parents didn’t know what an ATM was at the time!

Negotiating Your Homes Sale, Step #12

Is one of the finale steps before you meet at the title company or lawyers office, depending on your state and method of completing your homes sale.

This steps requires some diplomacy and nerve to hold your ground on issues that will not kill the sale, yet will not cost your thousands of dollars.

Before inspections in most cases, before the value appraisal comes the purchase agreement to buy your home.

Real estate agents have very little contract negotiation training. Agents bring

Real Estate agents often do not have Negotiation Skills, they are learned on the job, representing home owners.

what negotiation skills they have, from other industries, or learn how as a result of client representation on the job as real estate agents. This is why real estate agent selection is so important. Real estate selling agents do have some formal negotiation training, learning the basics along with legal terms, during pre-licensed training. This can be only a few hours and for test purposes, not under real sales contracts or situations that can make or break a home sale. Real Estate brokers will provide new agents with direct supervision and/or offer in-house training classes.

Negotiation Guideline List:

1. Sell Price, what price is your bottom line after calculated expenses?
2. How much are you willing to spend on repairs? Many times a buyer agent will ask for repairs to be completed by a licensed contractor.
3. Possession date, when will you get the buyer access to your property after the sale? Will you give immediate possession or some date in the future? If it is some acceptable date in the future will your buyer give you those extra days, for living in their home, free? Negotiate your possession dates.
4. Appraisal, if the appraisal comes in lower than the agreed upon sell price what will the buyer do? Will the buyer ask you to lower the price? Will the buyer pay the difference in the agreed sell price, paying more? Can you split the difference? Know this information upfront, if you can. Have a alternative home selling plan ready, should this happen. “Make sure you ask for a copy of the appraisal.” now you know why. Put this in writing along with every clause, exception, addition and term changes make. In real estate like many other areas of life, if it isn’t written it is not legally bidding to either party. Consult an attorney
5. Closing costs, do you split costs based on actual costs of seller and buyer normal fees? Is the buyer asking you to contribute to their buying or loan costs? Can you maintain your selling price without any discount or lower price if you include these costs in the sale?
6. Before we get to the negotiations, it is likely the buyer will have a home inspection. We discussed repairs when you were preparing the outside and inside of your home for sale. Now is the time when those repairs pay off. If the home inspector finds repairs needed, and they will, you can negotiate to fix the problems or split costs of the repairs with the buyer. A word of caution here. If
   

   Selling Your Home using Professional Real Estate Selling Skills can help you seal your home selling deal with a smile.

   the repair is deemed to be required for the buyer to get their loan approved, you will probably have to do the repair out of your pocket. Deciding not to do the repair means that the buyer can not get the loan and will terminate the purchase agreement. In most cases the earnest deposit will be required to be refunded to the buyer.

Likely Required Repairs:

1. Railings, most common is stair railings, to upper and lower levels. Outdoor porch rails may be required, in some cases.
2. Electrical, circuit issues such as “double taps”, lose wires, plugs or missing face plates.
3. Ground Fault Circuit Breaker plugs by sinks, in kitchens and bathrooms within 6 feet of faucets, also called GFI’s (other names depending on area and state). Basically GFI’s stop people from being electrocuted if they drop something with an active (plug-in) electrical attachment into water. Hair dryer, frying pans, curling iron etc.
4. Rotted wood can cause structure issues, if you have or had a leak around toilet bowls and plumbing areas that have gone unnoticed.
5. Roof condition, not having enough acceptable service life left on the roof. Roof leaks or shingles or tiles are missing. Roof pitch has also been an issue at times, but less often.
6. Basement leak, if you have a basement. Many times this is poor drainage or not have downspouts installed.

Many more things can come up during inspections, you get the idea, your sale can be derailed if an inspector finds a problem. If you are unwilling to fix or pay for a requested repair and the buyer will not or can not negotiate with you because of the conditions of the loan, your sale can fall through.

Home Loan Appraisal, you have made it through inspections, now comes the appraisal value of your home. How much value does the buyers lender place on your home? Very important, try to negotiate to see a copy of your homes appraisal value by the appraiser. You mush have the buyers permission to see the appraisal. Agents can many times get permission to see limited areas of the appraisal. You can offer to split the cost if the appraisal comes in low. Most buyers want your home or they would not have made the offer to purchase. Offer them half is a win-win for both of you. When writing the purchase agreement make sure you ask to see this document. When negotiations are all smiles is the time to get yourself in the information sharing position.

If you missed any of the Home Selling Steps I have placed active links below.

1. Estimating your homes value.
2. Who is your homes competition?
3. Deciding to sell with a real estate agent or without.
4. Marketing Methods to expose your home to the maximum number of buyers
5. Property Descriptions, survey and narrative details
6. Preparing the outside of your home for sale.
7. Preparing the inside of your home for sale.
8. Photos, the visual details to attract buyers
9. Showing your home to potential buyers
10. Financing
11. Open Houses.
12. Negotiating the Terms of Sale

Selling Your Home, Step #11 Open Houses

A few days before your “Open House” go over the home selling steps already covered in this series. Create the right home selling environment for buyers. We will cover how to advertise your home for sale to maximize buyer attendance to your open house.

Step #4 Marketing Methods to attract the widest range of buyers that may be

Marketing Your Home correctly will help buyer's find Your Home First!

interested in your home.

Step #5 Property Descriptions, you will not be handing your property descriptions to every buyer that comes through the door, but those interested in your home. Survey of the property, included, if you have one.

Step #6 Preparing the Outside of your home for sale. It is always good to take another look before hosting your open house. Sometimes newspapers and other debris blows into bushes. The forgotten yard tool left out is found. This is also a good time to decide on parking, if you have more cars than fit in your garage.

Step #7 Preparing the Inside of your home for sale. Make sure you home is ready, one more time. Look at child proofing your home. Children reach and grab small items. Having one of your a prized possessions broken in not a way to create a home sale with an embarrassing situation.

Brochures Were not discussed in detail, it is time to make sure you have a handout of your property with photos and property description. This helps buyers remember your property. I know many real estate agents do not use brochures. Better for me, as are real estate agent, that helps me sell my clients homes. Buyers have a reminder of your property and feature in front of them, when reviewing the homes they seen for sale. They also have something to hand someone else, if they are not looking to buy a home themselves. Remember friends and family many times go to open houses looking for relatives and friends moving into the area. Parents will preview homes for sale, helping their children buy a home.

Step#10 Financing, we reviewed home financing, many buyer’s look for a

Hosting an "Open House" can help you generate more buyer exposure and Sell Your Home.

house before taking the time to discuss getting a home mortgage with a lender. If you have several home loan options ready to hand them, this can speed up the home selling process. It takes a decision out of the hands of the buyer. They don’t have to decide where to go and have a good idea of the mortgage payment, if they buy your home.

Hosting your “Open House”. The first issue is advertising. Making sure you do your advertising far enough in advance to allow for buyers to plan their schedule to see your home.

Most real estate agents host open houses, if you are hosting your own open house, you have decided on a limited service home selling plan or are selling your own home.

Greeting Buyers, Do’s and Do Not

“Do”

1. Greet Buyers at the front door, if possible.
2. Have a brochure of your home ready to hand them.
3. Create small talk, weather, live close? Your goal find out something and create rapport. Put buyers and yourself at ease.
4. Show buyers through your home in a guided tour format.

“Do Not”

1. Do Not Hover, let buyer’s talk between themselves or have a bit of space if it is a buyer alone.
2. “Do NOT” point out flaws your home has, that only you know about. If these flaws are structural or significant you have already listed them on your disclosures.
3. Do Not be defensive, buyers do not have the right to be rude. If they are, you do not have to be rude back. Remember the home may not be right for them but they might have a buyer friend, who thinks your home is perfect!
4. Do Not let buyers split up and go off by themselves. This could be a ploy to steal. You should have a second person in your home. They do not have to do the presentation or tour but it is always wise if you are new to hosting an Open House.
5. Security, make sure you have secured your medications and jewelry. A non-see-through plastic container works great. Safes should be covered so people that are looking for an easy target, do not see anything to break-in and steal later. (this is just a precaution)

Make sure you advertise your home, use direction arrows (if allowed) place an open house sign in your yard, displaying time and date. You should have this out 3-4 days in advance. Buyers do drive-by’s to preview homes before seeing the inside. If they did not see your advertising they will see you are hosting an open house. Make sure your Open House is also displayed on the local MLS (Multiple Listing Service) to attract real estate buyer agents and clients too!

In case you missed the previous home selling steps links to each step to sell your home are below. Step 12 will be active tomorrow.

1. Estimating your homes value.
2. Who is your homes competition?
3. Deciding to sell with a real estate agent or without.
4. Marketing Methods to expose your home to the maximum number of buyers
5. Property Descriptions, survey and narrative details
6. Preparing the outside of your home for sale.
7. Preparing the inside of your home for sale.
8. Photos, the visual details to attract buyers
9. Showing your home to potential buyers
10. Financing
11. Open Houses.
12. Negotiating Your Homes Sale

"FREE SELER'S CHECKLIST"

Ask for a "FREE Seller's Checklist" if you are in the Grand Rapids Real Estate Market and considering selling your home. Expose your home to a wider range of buyers using todays most up to date real estate technology and selling methods.