Step 1: Price it Low

This may seem counter-intuitive. 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 (trust me, I know! We made this mistake selling our own house!!)

Instead of trying to 'win' the negotiation with one buyer, you should price it so that demand for the home is maximized. By doing this, you 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."

Step 2: Hire me!

You may think you can net more money if you don't have to pay a real estate commission. With that being said, studies have shown that homes typically sell for more money when handled by a real estate professional. Research posted by the National Association of Realtors revealed that:

"The median selling price for all FSBO homes was $185,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $163,800. However, homes that were sold with the assistance of an agent had a median selling price of $245,000 - nearly $60,000 more for the typical home sale."

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.