2 Ways To Get The Most Money From The Sale Of Your Home
Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house?
Here are two keys to ensure that you get the highest price possible.
1. Price it a LITTLE LOW
This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).
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:
2. Use a Real Estate Professional
This, too, may seem counter-intuitive. The seller may think they would make more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.
A study by Collateral Analytics reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more by not listing with an agent.
In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:
The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%. Sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.
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 Archive2019-04-18 13:04:29
Local 2019 Real Estate Trends (Millennial Buyers)
Top Outdoor Features That Buyers Are Looking For
Top Tips For A Summer Ready Home
Is a Real Estate Investment Still Profitable?
Your Home’s Spring Maintenance Checklist
4 Reasons to Buy a Home in the Spring
The KonMari Method: Helping You Prep Your House For Sale
What is the Cost of Waiting Until Next Year to Buy?
Buying a Home Young is the Key to Building Wealth
What If I Wait A Year to Buy a Home?
Where Are Interest Rates Headed in 2019?
The #1 Reason to Not Wait Until Spring to Sell Your House
5 Tips When Buying a Newly Constructed Home
20 Tips for Preparing Your House for Sale This Fall [INFOGRAPHIC]
Join Us for Our 2nd Annual Pumpkin Giveaway!
Mortgage Interest Rates are Still Going Up… Should You Wait to Buy?
Where Are Mortgage Interest Rates Headed In 2019?
Lafayette Front Porch Streetscape Project is underway
5 Reasons You Should Sell This Fall!
5 Real Estate Reality TV Myths Explained
Your Guide To Local Fun: August 2018
One Huge Difference Between the 2008 Housing Market And Today
Homes More Affordable Today than 1985-2000
Buying Is Now 26.3% Cheaper Than Renting in the US
Denver Café Named In Bon Appétit's Top 50 New Restaurants
Click here to see ALL articles.