How to Get the Most Money from the Sale of Your House

By
Real Estate Agent with LUXE Estates & Lifestyles NV Lic #S.70381

Every homeowner wants to make sure they maximize the financial reward when selling their home. But, how do you guarantee that you receive maximum value for your house? Here are two keys to insuring 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 actuality, this just dramatically lessens the demand for your house. (see chart)

Impact of Price on Visibility | Keeping Current Matters

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so demand for the home is maximized. In that way, the seller will not be fighting with a buyer over the price but instead will have multiple buyers fighting with each other over the house.

In a recent article on realtor.com, they gave 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. The seller may think they would net more money if they didn’t have to pay a real estate commission. Yet, studies have shown that typically homes sell for more money when handled by a real estate professional.

Recent research posted by the Economists’ Outlook Blog revealed:

“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.”

Median Selling Price FSBO vs Agent | Keeping Current Matters

Bottom Line

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

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Kristine Dugan    REALTOR® | Certified Residential Specialist    
Luxe Estates & Lifestyles    Keller Williams Coastal Estates    
m. 702.332.7781   | NV DRE 70381  CalBRE 01958282  
e. info@KristineDugan.com   | w. www.KristineDugan.com      
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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Kelly Hagglund 12/10/2015 03:04 AM
Topic:
Home Selling
Tags:
price to sell
use a professional to sell your house
sell your house
selling your home in california

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Rainmaker
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Kelly Hagglund
The Kelly Group Real Estate - Newberg, OR
SW Portland Real Estate Expert

This is absolutely the best blog for home sellers. It can be hard to convince sellers of this logic sometimes, but it is 100% accurate. Get buyers to compete and there will be less demands for repairs, concessions, etc. Sellers can actually net more! Great post and thanks so very much for sharing!

Dec 08, 2015 04:56 AM #1
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Kristine Dugan

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