How to Get the Most Money When Selling Your Home

most money for your homeWhen I go to a listing presentation so many sellers say they want to price their home above the market so they have room for negotiation but this article explains exactly why that is the wrong thing to do.  The seller always wants to know what they will do if they price their home to the market and then get an even lower offer; I always explain that is a problem we can handle when we get an offer.  We can’t do anything until we have showings and get an offer and, if we are overpriced, we won’t get showings and get the opportunity of working with an offer.  We can always counter back the offer at full price if that is the decision made at the time.  Remember, you cannot negotiate on any price until you have an offer and you can’t get an offer until buyers actually see your home.  If your home is priced above the market value, less buyers will see your home which means less chance of getting an offer to work with.  Work with a professional who understands the real estate market and can get you the best exposure and price for your home.

Courtesy of Keeping Current Matters March 2017

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 | MyKCM

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.

Remember it is always toasty in Naples and you deserve to have a professional sell your home.  Call me and let’s get the highest amount we can!

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