There are thousands of articles that have been written on this subject, but overall they are all missing the #1 key ingredient.  

If you have a home that you'd like to sell, I'd naturally conclude that you've cleaned things up.  I'd assume you've fixed all the little things that have been bugging you for years.  I'd think you have already de-cluttered the rooms and removed any funky artwork that spoke to you back in 92.  I'd also like to believe that you have completed paint touch ups to all the baseboards and heavy wear areas.  You've cleaned the floors and replaced carpet if need be.  

I'd also think you have taken the time to give attention to the outside of the home.  You spent a couple weekends cleaning out weeds, pruning, and adding fresh mulch.  I'd even go as far as believing you have fed the grass with fertilizer and bumped up your watering so that every grass blade is in perfect condition.  

Of course you've already done these things right?  I mean, it is the largest asset you own and it is probably the best chance you have at cashing in on a potential profit.  Of course you've tightened things up.  

So how do you sell your home for the highest price?

The #1 most key ingredient:  Price it right from the beginning!  

A PHD by the name of Ken Johnson at Florida's International University studies real estate economics and housing trends.  Yes, there is a whole world of real estate economics.  He sited a study that was completed:  Listing Price, Time on Market, and Ultimate Selling Price: Causes and Effects of Listing Price Changes. Real Estate Economics.  

Basically the end result is this:  Price is right from the beginning.  Why?  If you price it too high to give a "little wiggle room", you're home will sit on the market longer and when you finally decide to price it right, you'll actually end up with a lower sales price than if you'd priced it right from the beginning.  

Again:  Price it too high and it'll take longer to sale for less.  Price it right and you'll sell it faster for more.  There is no downside to doing it right from the beginning!

Posted by Brad Officer on
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