How to get the Most Money from the Sale of Your Property
Simple Rules to Get The Highest Price For Your Home
Are you set to get the best value for your home?
Homeowners want to make sure they get the greatest value when selling their home. But how can you be sure you are receiving the best value for your property? Here are two things to consider to make sure you get the highest price possible.
Price your home to cause it to sell
Though it may seem counter intuitive, let’s look at this concept. Most homeowners think pricing their home OVER market value will set them up for negotiation. In actuality, this just dramatically lowers the demand for your house.
Buyers now have just as much information as real estate professionals and have that information at their fingertips. The average buyer watches the market and has been studying prices and comparable’s area for anywhere from a few months to a few years before they even step into a home for their first viewing.
In nine cases out of ten, buyers for your home have been studying prices in your area much longer than sellers do. In fact, if you haven’t sold a home in a while, this aspect of the process may be very different than the last time around for you…
The market is now transparent. Instantly, accurately, and systematically recorded, in many cases, real estate market values have become VERY PREDICTABLE based on market evidence.
Which reaction would you rather create?
“Wow! Honey, Look at his house! It’s perfect! Call your Mom and tell her we’re going to be late Saturday! Look at this price! I know this will sell fast! First open house is this Saturday and We better get there early!”
vs.
“Honey, there’s another listing we need to look at, it looks really nice but its priced much higher than anything else… they are having an open house Saturday, but we will be at your Mom’s for the weekend… It’ll never sell at that price… lets go see it sometime next week ok?”
Price the home to represent a value. Using market evidence of comparable sales inyour area that are recent, nearby and of comparable size and type. Doing so will generate urgency, show your sincerity and that you have studied the market and done your homework.
Price your home to generate bore than one offer.
Instead of trying to plan for the negotiation with one buyer, price it so that demand for the home is maximized. By doing this, you will not be attempting to justify and support a price. Instead of attempting to coerce just one buyer to a higher price. You will have multiple buyers fighting over your house.
Realtor.com, recently 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 under-priced, especially in areas with low inventory.”
Use a Real Estate Professional
This may also seem counter-intuitive. You may think you can net more money if you don’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for notably 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 in order to guarantee that you get the best price for your property.
Selling your home for TOP, TOP DOLLAR in the Sacramento area is simple, but it’s not easy.
