How To Get The Most Money When Selling Your Home

Dated: 03/21/2017

Views: 106

How to Get the Most Money When Selling Your Home | Keeping Current Matters

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 Get the Most Money When Selling Your Home | Keeping Current Matters

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 otherover 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.  There is no better time to sell than right now.  With low inventory and interest rates on the move, it's a great time to capture some equity and make your move.  

Want to Advertise on this Site?

Latest Blog Posts

Staged Homes Sell Faster And For More Money

The selling season is upon us.  So much inventory for buyers to choose from now, what draws their attention?  It's important when selling your home to be able to distinguish your home from

Read More

4 Tips For Makings A Competitive Offer

So, you’ve been searching for that perfect house to call ‘home,’ and you’ve finally found it! The price is right, and in such a competitive market, you want to make sure you

Read More

Benefits Of A 20 Percent Down Payment

If you are in the market to buy a home this year, you may be confused about how much money you need to come up with for your down payment. Many people you talk to will tell you that you

Read More

5 Reasons To Sell Your House This Spring

Here are five compelling reasons listing your home for sale this spring makes sense.1. Demand Is StrongThe latest Buyer Traffic Index from the National Association of Realtors 

Read More