You want to make sure you maximize on your financial reward when selling your home. But how do you guarantee that you receive the max value for your house?
Price it a LITTLE LOW – This may see counter intuitive, but let’s look at this for a moment. A lot of homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this dramatically lessens the demand for your house. 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! CHECK THIS CHART OUT.
Realtor.com give 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.”
In as far as For Sale By Owners:
“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”
The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%. Sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.
If you’re looking to sell: Call the expert: 631-774-2528