Every homeowner wants to make sure they maximize their net proceeds when selling their home. But how do you guarantee that you receive maximum value for your house? Here is a pricing strategy to ensure that you get the highest amount possible from the sale of your home.
Price it a LITTLE LOW (Not kidding!)
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. 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.
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.”
Price your house at or slightly below the current market value. This, along with having a real estate professional who will create AND implement a comprehensive marketing plan, will guarantee that you maximize the price you get for your house.