Selling your La Mesa area home? Here's How To Get The Most Money!
Every homeowner wants to get the most money possible when selling their home. But how can you guarantee that you will get the most money for your house? Here are two things you need to consider to get the highest price possible.
You may also like: 10 Common Mistakes Sellers Should Avoid
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1. Price it a LITTLE LOWER
Price it lower? Yes. This may seem a little counter intuitive. But, let’s explore this concept for a second. Most homeowners think that pricing it a little OVER market value leaves them room negotiate. "We can always come down," is a common statement I hear, when in actuality, this dramatically lessens the number of potential buyers who will even look at your house (see chart below).
Your house should be priced to maximize the demand for the home. That way, you will multiple buyers fighting over the house, driving the price up instead of fighting with one buyer over the price.
Here is what Realtor.com says:
“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 REALTOR®
Pay a commission? Yes. This too may seem counter intuitive. Many sellers think they could put more money in their pocket if they didn’t have to pay a commission. But many studies have shown that most 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.”
A good REALTOR® will more than make up for the commission you pay. And much like an attorney, they don't get paid until you do!
Here's the Bottom Line:
Price your home at or slightly below the current market value for your area, and hire a professional. That will guarantee that you make the most money possible for your house.
You may also like this blog: 10 Common Mistakes Sellers Should Avoid