How To Get The Most Money For Your Home

How To Get The Most Money For Your Home

How To Get The Most Money When Selling Your House | Simplifying The Market

How To Sell it High and Sell it Fast


I'm often asked, how do I get the best price in the shortest period of time?  With an emphasis on maximizing price.  It all comes down to visibility, see the chart below.  

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).

How To Get The Most Money When Selling Your House | Simplifying The Market

So for a typically listing, priced AT market value, about 75% of the public sees it. Raise that price just 10%, 60,000 on a $600,000 home, and it falls to just 60%.   Then what happens? I would argue most just swipe their phone and say "Next" because they've seen better at this price point. 

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.”

A corollary, is if that highly informed buyer sees you as "too expensive" they never come for a visit. Showings of overpriced listing go way down. 


2. Use an experienced, seasoned 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.”

How To Get The Most Money When Selling Your House | Simplifying The Market

Bottom Line

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.  Sometimes called the "California Model" this IS the way to generate offers, frequently multiple offers.  Call us and we'll share how it has worked for us here in Charlotte.   It has worked out very well for our clients.   Higher prices  and shorter DOM.  


Connie Massetti Headshot
Author:
Phone: 704-340-5967
Dated: April 13th 2016
Views: 478
About Connie: Licensed agent assistant who coordinates with McDonald Group clients and agents during all aspects o...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

McDonald Group at Wilkinson ERA
5970 Fairview Rd
Charlotte, NC
704-343-6624
704-464-3944

Other Locations