Home sellers and Realtors alike dream of selling a home for well above the price it's listed for. Here, Realtor.com's Angela Colley offers some tips, tricks, and insider secrets about how to sell a home for more than its asking price.
First, price the property roughly 5% to 10% below the going market rate says Collin Bond, Realtor for the Boris Sharapan Team of Douglas Elliman. It will generate more traffic to the property and create bidding wars. Buyers also shouldn't jump at their first offer. Letting buyers know that there is competition and using multiple offers to your advantage can cause buyers to make an offer above the asking price. Owners looking to sell a home should also approach investors (who often have more money for real estate purchases than consumers) in order to create competition.
For lackluster homes with a low price that might be having trouble, consider renovations. While it could eat away slightly at your profit, it could bump up your final sale price and get the home off the market.