Selling your home can prove to be either a smooth or bumpy process with varying rewards. Two keys to ensure that your efforts yield the highest price possible are:
- Price it a little low: Statistically, it has been proven that property priced below Market Value encourages significantly more interest and higher selling prices than those priced above Market Value. When examining this concept, it becomes clear that it is better to have multiple buyers fighting with each other over your home, than for you to be fighting with one buyer over the price. Realtor.com advises: “Aim to price your property at or just 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.”
- Use a Real Estate Professional: Sellers may think they can improve their profit if they don’t pay a real estate commission,. But studies have shown that homes typically sell for more money when handled by a real estate professional. Sales in 2017 suggest that the average price was almost 6% lower for FSBO sales of similar properties.
The “Take-Away” from this article: To maximize the profit from the sale of your home, price your house at or slightly below the current market value and hire a professional.
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