How To Get The Most Money When Selling Your Home

Dated: 03/15/2017

Views: 141

How to Get the Most Money When Selling Your Home

   For Sellers, Pricing

Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In reality, this just dramatically lessens the demand for their house (see chart below).

How to How to Get the Most Money When Selling Your Home | Simplifying The Market

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each other 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, as the seller likely believes that he or she will net more money if they don’t have to pay a real estate commission. With that being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

Research posted by the National Association of Realtors revealed that:

“The median selling price for all FSBO homes was $185,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $163,800. However, homes that were sold with the assistance of an agent had a median selling price of $245,000 – nearly $60,000 more for the typical home sale.”

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.

Blog author image

Jeri Patrick

In today’s complex and difficult real estate market you need a professionals who will do whatever it takes to market and sell your home. Jeri Patrick has a team with an established history of succes....

Want to Advertise on this Site?

Latest Blog Posts

Jul 13 2018 5018 1

Want to Sell Your House Faster? Don’t Forget to Stage! [INFOGRAPHIC]Some Highlights: The National Association of Realtors surveyed their members & released the findings of their 

Read More

Jul 12 2018 5018 1

House-Buying Power at Near-Historic LevelsWe keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is

Read More

Jul 11 2018 5018 1

Rising Interest Rates Have Not Dampened DemandSince the beginning of the year, mortgage interest rates have risen over a half of a percentage point (from 3.95% to 4.52%), according to 

Read More

Jul 10 2018 5018 1

How Long Do Most Families Live in a House?The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of their data points, which has

Read More