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Want to Get the Most Money from The Sale of Your Home? Use These 2 Tips!

Want to Get the Most Money from The Sale of Your Home? Use These 2 Tips!

Want to Get the Most Money from The Sale of Your Home? Use These 2 Tips! | MyKCM

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house?

Here are two keys to ensure that you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

Want to Get the Most Money from The Sale of Your Home? Use These 2 Tips! | 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.

HGTV gives this advice:

First impressions are everything when selling your home. Studies have shown that the first two weeks on the market are the most crucial to your success. During these initial days, your home will be exposed to all active buyers.

If your price is perceived as too high, you will quickly lose this initial audience and find yourself relying only on the trickle of new buyers entering the market each day. Markets are dynamic, and your price has an expiration date. You have one chance to grab attention. Make sure your pricing helps you stand out on the shelf — in a positive way.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive. The seller may believe that he or she will make more money without having to pay a real estate commission, but studies have shown that homes typically sell for more money when handled by a real estate professional.

Research by the National Association of Realtors in their 2018 Profile of Home Buyers and Sellers revealed that,

“the median selling price for all FSBO homes was $200,000 last year. However, homes that were sold with the assistance of an agent had a median selling price of $264,900 – nearly $65,000 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 money you get for your house.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Christa Ross and Keeping Current Matters, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Christa Ross and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

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By |2019-01-22T11:05:23+00:00February 12th, 2019|Blog Post - Selling|0 Comments

About the Author:

Christa Ross is a REALTOR with RE/MAX Select Realty. Based in the East End office in Pittsburgh’s East Liberty neighborhood, she works in the city of Pittsburgh and the Eastern and Northern Suburbs. As a Certified Residential Specialist (CRS) with 10 years of experience, she is among the top 3% of real estate agents in the country and a RE/MAX Hall of Fame Member. Whether you are all about a trendy condo in the city, a grand old home on the Northside, a recent renovation in Lawrenceville or a sweet suburban address, if you are buying or selling a home, or relocating to the Pittsburgh area, she is the real estate agent you should be working with. Real Estate Experience That Moves You. Get in touch by calling 724-933-6300x214 or direct at 724-779-1437.