Every homeowner wants to make sure they maximize their financial reward 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 actuality, this just dramatically lessens the demand for your house (see chart below).
Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. In that way, the seller will not be fighting with a buyer over the price, but instead will 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 counter intuitive. The seller may think they would net more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.
Research posted by the Economists’ Outlook Blog revealed that:
“The median selling price for all FSBO 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.”
Price your house at or slightly below the current market value and hire a professional. That will guarantee you maximize the price you get for your house.
Author:Henry Cossio Phone: 714-404-9256 Dated: March 3rd 2016 Views: 578 About Henry: Henry Cossio
Founder | Broker/Officer
Henry Cossio’s clientele includes people with many diff...
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Founder, Henry Cossio’s main purpose of constructing Own It Group, was to create a company that serves the people. Hence, Henry’s vision became, “If you want to lift yourself up, lift up someone else.” Fellow Own It Group members embrace the vision daily, creating a well-balanced flow. Since 2009, Own It Group offers its clients education, information, and a guide to establish financial freedom resulting in exceptional results. Own It Group gives its clients confidence in “OWNING IT”.
Located in Orange County, California, Own It Group has worked with several successful representatives whom are the best in their respective fields of title, escrow, and insurance. After the real estate market crash in 2008, Henry put forth his vision and created Own It Group to help reestablish uneasy relationships caused by the real estate market crash of 2008. Since formed, Own It Group has initiated trust and confidence in the investment of properties by utilizing their knowledge, experience, technology and tools in real estate to help their clients grow with their investments.
The commitment made back in 2009, has put Own It Group on an upward trajectory of success. Own It Group applies a strong three-prong approach: COMMUNICATION, TRUST AND COMMITMENT. This approach continues to turn clients into friends, a benefit that brings along consistent referrals. In deciding to commit to Own It Group, is taking the path towards learning and success.
With Own it Group, your questions are listened to and you get straight answers. Own it Group's clients know that with them they get a Real Estate Consulting Firm who generates more than business—they generates results. That’s why so many come back for their help again and again, and refer their friends and family to them.Own it Group not only strives to do the absolute best for his clients, but also goes the extra mile to make sure they get the service they deserve.
Repeat business is solid evidence of doing things right. Many of Own it Group’s clients have been clients for a long time, and they return to Own it Group for all their real estate needs. When all is said and done, you’ll look back on your experience with Own it Group knowing that he gave you the whole picture so you could make a sound decision.
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"Henry and Danny were great always willing to work with any issue we had even if it meant working long hours. I really felt like i was dealing with somebody that cares for any manner just like family. They helped us sell our house and buying a new one. Even though our credit wasnt the best they guide us on how to get our credit score higher. I would really recommend their services they are great!"