Getting the Highest Price Shouldn’t Be a Seller’s Main Goal

By Scott Morris

When you’re preparing to sell your home, you’re likely thinking one thing: “How can I get the highest price for my home?”

But here’s the catch: The highest price doesn’t guarantee you the most money. What really matters is your net profit, the amount of money you take home at the end of the day—what you receive after escrow closes.

How can you maximize your profit and walk away with the most money? Follow a simple A + B = C formula.

A. Get the Most for Your Home

Step one is probably something you already know: Do everything it takes to get the highest and best offer. Here are 3 keys to make that happen.

Preparation: First Impressions Matter

First things first—present your home in the best light possible because you only have one chance to make a great first impression.

Put yourself in the buyers’ shoes. Imagine you are searching for a home online and see two houses in the same neighborhood that match your criteria. One home looks clean and bright, simply decorated, and well-landscaped. The other home has mismatched furniture, kids’ toys in the corner, and a garbage bin visible on the side of the house. Not to mention, the photos look like they were hastily taken with an iPhone. Which house are you drawn to? Most people would prioritize option 1, and most buyers’ agents would agree—82% say that a staged home helps their buyers picture themselves living in the home.

Pricing: Pricing Strategy Matters

Then there’s the ever-important step of pricing your home right. Price too high and your house lingers on the market and becomes stale in the eyes of buyers; price too low, and you won’t get the full value of your home. Your agent should know how to gauge the market, know your competition, and leverage their connections in order to price your home in the sweet spot.

Promotion: Let’s Tell Your Home’s Story

If you just post your home on Zillow, you’ll get some bites (especially in a hot market), but there are ways to generate more interest and excitement, specifically by using a multi-channeled marketing plan. Your agent should have a strategic plan to promote your home, through social media, email, and more, so the right eyes will see it at the right time. 

B. Lower Your Selling Costs

Once you have that great offer in hand, it’s time to calculate your final take-home amount. It can be sobering for many sellers when they realize that fees and commissions will significantly reduce the money they had been planning on. Some fees can’t be avoided, but that traditional 5% agent commission rate can.

Many industries are changing rapidly, and real estate is no different. New companies with updated, consumer-friendly business models have come in to challenge the traditional commission model. SRM is one of these companies. Our flat-fee model saves sellers thousands of dollars, if not tens of thousands, at closing.

C. Maximize Your Profit

When you A) obtain the highest possible price for your home AND B) keep selling costs low, you end up with C) maximum net profit. At SRM Real Estate Group, we care about what you care about, and that’s why we strive to offer strategic insight, experience, and knowledge at a fair price so you can keep more of your home’s equity to invest in the things that matter most to you.

If you want to know more about how to maximize your net profit, watch our free webinar today. You can also reach us at (818) 262-3695 or connect@srmrealestategroup.com or you can schedule a no-obligation introductory call online.

About Scott

After his son’s Type 1 diabetes diagnosis, Scott’s life took on new meaning. He created a purpose-driven business model to put people before profits. With each successful closing, he donates a portion of his earnings to his client’s preferred charity and to the Juvenile Diabetes Research Foundation.  Scott’s passion and innovative approach to real estate is found in the promise he makes to every client: when you partner with the SRM team, you’ll save money, time, and together we’ll change lives.

Scott Morris is the Founder and CEO of SRM Real Estate Group, a Los Angeles real estate and mortgage company that does things differently. To learn more about Scott, connect with him onLinkedIn.