Flying underneath the radar, cloaked underneath the drab, dismal garb of ‘bad news’ about the real estate market in Grand Rapids, Mi is a little wisp of information which is not yet tracking on the screens of the local media. It’s this little secret…some homes in Grand Rapids, MI are getting multiple offers!
Say What? How is that possible? Well, certain hard working real estate agents first caught a whiff of this strange activity in the latter portion of last year. While folks on every TV station known to man were bemoaning the demise of the real estate industry as we know it, THEY were submitting offers on properties only to be told to get in line…as offer #2, #3 or even #4!
This left many agents scratching their heads in wonderment. For had not the “Powers that Be” across the nation pronounced doom and gloom? The REALITY of what they were bumping into as they actually worked in the real estate profession didn’t seem to jive with all the ‘expert’ prognostications and dire warnings.
Well, a little sleuthing revealed one potential reason for the anomaly. A large number of homes were being sold as Foreclosures and Short Sales. In fact, so much so that by the end of the year, (2008) the percentage of ALL HOMES SOLD by the local real estate board that were labeled in this fashion had reached70%! Savvy investors began to scout the local market, hiring real estate agents to sniff out the ‘good deals.’ While this activity brought down home prices, it also had another pretty important effect…
The description of a what defined a home as a ‘good deal’ expanded. Because you see, in reality, not every buyer in Grand Rapids, MI was interested in buying a home that would need tons of fix-up work, nor were they all over-joyed at the prospect of waiting forever for banks and their assorted representatives and investors to make up their minds about accepting a viable offer.
A good deal for frazzled home buyers began to encompass homes without the concomitant hassle and suspension of the short sale transaction OR the extra work required for buying homes sold in “AS IS” condition where the mystery of a potential purchase provided additional unexpected excitement!
In the midst of this chaos of uncharted waters, savvy homeowners began to smell an opportunity and rise to the occasion. Some Listing agents observed the underground movement as a shift in the tone of traditional listing appointments. It was noted that home owners who were serious about selling no longer argued with them about the reality of the market…they had already researched their neighborhood, driven around the area and were prepared to deal with reality. They also understood that not ALL Grand Rapids, MI neighborhoods had been affected by the crisis to the same degree and recognized that local expertise was worth it’s weight in gold when the standard was set by the hallmarks of accuracy and knowledge of the local market!
So when we rang the doorbell on the front door, agents who had the good fortune of meeting with these prospective home owners found a willing partner who appreciated and understood the Value in their chosen professional and were prepared to heed honest counsel. On more than one occasion, these determined homeowners took copious notes on every single suggestion and then went out and did EVERYTHING that was requested of them!
At Audu Real Estate, I’ve nicknamed this phenomenon “The Other 30 Percent.” The “Other 30 Percent” refers to the homes which sell without fanfare in a market which is deemed to be impossible. These homes reflect the market TODAY and are not over leveraged with debt. There are homes that are not being foreclosed on or sold via short sale in the Grand Rapids, MI area and some of them are getting more than one offer. But again…there’s a little more to this than meets the eye…
To compete in these murky waters, homeowners who want to become home sellers must be preparedto do what is necessary to Price their homes correctly, Set the Stage and Engage in pro-active Marketing. What is Pro-Active Marketing? Well, it’s marketing which extends well beyond a sign in the yard and your home listing on the Multiple Listing Service. It’s the sort of marketing that goes out and attracts the buyer rather than hoping that they discover your existence within the thousands of homes competing with you on the Multiple Listing Service.
Pro-Active Marketing engages and entices potential buyers to engage in the experience of owning your home vicariously through a variety of mediums and promotion. If you’d like to learn more about HOW this Web 2.0 medium of marketing can engage the imagination and not just the eyeballs of a home buyer, contact Audu Real Estate, licensed agents specializing in residential real estate in Grand Rapids, MI for a real LIVE demonstration!
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