Selling Your Home? Here’s How You Get The Highest Price For Your Home.
If you’re a homeowner, chances are you either want to know what your home is worth or you have already inquired about your home’s value. You want to know what is the most amount of money you can get when it’s time to sell your prized possession.
Here Are The Top 2 Things to Consider When Selling Your Home:
1. Price it Right! – At Or Just Below Market Value Is Preferable.
This may not sound like the best advice and you may be thinking – Why would I do that? Wouldn’t I be leaving money on the table? If I price it lower, then the buyer would offer an even lower price. In reality when you overprice your home, less buyers are attracted to your home. The goal is to price your home so that many buyers are attracted to it rather than just a few. Your chances of getting an offer sooner, multiple offers or a full price offer, significantly increases. When your home is priced 10% above market value – only 30% of potential buyers will look at your home compared to when your home is priced 10% below market value – you get 75% of potential buyers looking at your home.
The Chart Below Gives A Good Description Of How Pricing Affects Visibility of Your Home.
2. Use a Professional – Hire a Realtor.
You may be thinking – “homes sell fast in my neighborhood, if I sell it myself I could save myself the commission I would be paying to a realtor”. Did you know that studies have shown that homes that are sold with a real estate professional generally sell for more than when sold by the homeowner?
Research posted by the Economists’ Outlook Blog revealed that: “The median selling price for all FSBO (For Sale By Owner) 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.”
Here’s the bottom line: Pricing your home appropriately and hiring a realtor who professionally markets your home to many potential buyers is how you get the highest price for your home.
Source: Keeping Current Matters