2 Tips to Get the Most Money When Selling
Everyone wants to get the best price when selling their home. But how do you guarantee you receive maximum value for your house? Here are 2 strategies to help you get the best price possible.
1. Price Your Home a LITTLE LOW
This may seem crazy! However, let’s look at this concept in depth. Many homeowners think pricing their home a little OVER market value will leave them room to negotiate with a potential buyer. In reality, this dramatically lessens the demand for your house:
By pricing at or below market value, the demand for the home is maximized and more buyers will take a look at the house. Thus, sellers will not be negotiating with a single buyer over price, but instead will have multiple offers with a potential bidding war ensuing over the house.
Realtor.com, gives this advice:
“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”
2. Use a Real Estate Professional
This too may seem counterintuitive. Sellers may think they will net more money if they dpn’t have to pay a real estate commission. However, studies have shown homes typically sell for more money when handled by a real estate professional.
According to The Economists’ Outlook Blog:
“The median selling price for all FSBO homes was $210,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $151,900. However, homes that were sold with the assistance of an agent had a median selling price of $249,000 – nearly $40,000 more for the typical home sale.”
To get the most money for the sale of your home, price your house at or slightly below the current market value and hire a professional.