Selling a home is a significant financial transaction, likely the largest of your life, with long-lasting financial implications. Naturally, as a home seller, you aim to maximize the sale price. With the right strategies and tactics, achieving your desired price is feasible. Selling a home is a major financial decision, and knowing the right strategies can help sellers secure their desired price for their property. So check out these 5 tips to get the price you want for your Effingham County and Savannah property.
1. Counter at List Price
In many instances, buyers initially propose offers below the list price, occasionally substantially so. While outright accepting such low-ball offers is typically not the route to take, the question arises: how should you counter? Astute real estate professionals recommend countering at your list price. This approach often prompts the buyer to return with a subsequent offer much closer to your list price – possibly even matching or slightly exceeding your desired price. Real estate experts advise countering initial low-ball offers by proposing your list price, often leading to subsequent offers closer to your desired price.
2. Start a Bidding War
Another method to secure the desired price for your property in Effingham County and Savannah is to initiate a bidding war. The principle behind this strategy is that the more buyers competing for the property, the higher the bids will climb. To execute this approach, list your property and make it available for showings. Subsequently, schedule an open house shortly after listing. By doing so, buyers anticipate competition and are inclined to submit higher bids to outbid early contenders. Once multiple bids are received, you can assess and select the offer that aligns best with your objectives. Initiating a bidding war by scheduling an open house shortly after listing can drive up the selling price of your property in Effingham County and Savannah, as buyers compete to outbid one another.
3. Set an Expiration Date
Another highly effective tactic to get the price you want for your Effingham County and Savannah property is to set an expiration. As any savvy marketer will tell you, creating a sense of urgency in buyers will get them to offer more and offer it quicker. So when you get an offer and then make a counteroffer, you put an expiration date on your counteroffer. This tactic forces the buyer to make a decision and allows you to move on to better offers much more quickly if the buyer doesn’t agree.
Another benefit of setting an expiration date, besides helping you get the price you want and closing a deal quickly, is that it helps you get your property back on the market much quicker. For while the counteroffer is outstanding, your property is essentially off the market because many buyers won’t make an offer while another is in the works. This tactic also serves to reduce the time your property is on the market – which is desirable because the longer it sits on the market unsold, the lower your chances of getting the price you want.
4. Offer to Pay Closing Costs
You can also get the price you want for your Effingham County and Savannah property by agreeing to pay closing costs. Although this is becoming fairly standard, if you offer to pay these costs – typically around 3% of the purchase price plus various fees – a buyer will feel more inclined to pay the price you want. Many buyers simply can’t afford closing costs after making the down payment, and this tactic will help you get your price. You may even be able to raise your price slightly to offset the closing costs when buyers can’t afford to pay them.
5. Hire an Agent
Our ultimate recommendation to assist you in securing the desired price for your Effingham County and Savannah property may be the most crucial: enlist the services of a qualified local real estate agent. Your agent possesses a comprehensive understanding of local market conditions and buyer preferences, enabling them to negotiate a price that aligns with your objectives. Hiring a qualified local real estate agent is essential for negotiating a favorable price for your property in Effingham County and Savannah, given their expertise in local market dynamics and buyer preferences.