There are two important factors to ensuring you maximize your profit when selling a piece of real estate in Phoenix. While some homeowners think they already know what to do to guarantee top value for their home, many are often surprised to find out that pricing your real estate in Phoenix on the lower end of its value will help you make more money. Most homeowners are shocked by this because it simply doesn’t make sense, and are under the impression that overpricing their home will get them more money, but here’s how it works. When a seller lists their real estate in Phoenix over market value, the percentage of potential buyers that will actually look at their property decreases. For example, the National Association of Realtors states that when a home is priced at market value, only 60% of buyers will look at it; when its priced 10% above market value, the number of potential buyers looking at it decreases to 30%. However, when real estate in Phoenix is priced 10% under value, it increases the visibility of the home to 75%. Why is this? When real estate in Phoenix is priced lower than market value, multiple buyers bid against each other to win the house whereas when you overprice real estate in Phoenix, the seller is often caught up in negotiations with the buyer to lower the price of the home.
Another way to maximize your profit from selling your home is to work with a real estate professional in Phoenix. Again, many sellers don’t believe this to be true because realtor commissions and fees are usually a decent amount of money. Time and time again, however, studies show that when a seller hires a real estate professional in Phoenix to sell their home rather than attempting to complete the sale on their own, their home is sold for more money. Real estate agents in Phoenix can more accurately price your home as well as get it sold faster; often times homeowners the attempt a For Sale By Owner overprice their home and then are required to reduce the price when it sits on the market too long.