In an uncertain housing market, it's even more important to know which tactics will help you get the best deal when you put your house up for sale. Jean talks with Glenn Kelman, president and CEO of the online real estate brokerage firm Redfin, about some lesser known tricks of the trade to help you sell your home:
- Don't overprice your property. Be realistic about what your home is worth. Do a comparative market analysis to see what similar homes in your area have sold for—not just what they're listed for, Glenn says.
- Pick an emotionally strategic price. Glenn says studies show that people psychologically associate round numbers or numbers that end in "999" as being higher. Prices that end in "500" get negotiated down the least and are therefore more desirable, he says.
- Debut your home on a Friday. According to data collected by Redfin, Glenn says homes that are put on the market on a Friday are more likely to sell than homes debuting on other days of the week.
- Market your property online. Glenn says homebuyers are more web-savvy than ever, so be sure your home is searchable online. Even listing your site on a free community website can help drive a sale, he says.
The information provided here is general advice and you should always consult your own financial adviser before making major financial decisions, including investments or changes to your portfolio. The opinions expressed by the hosts, guests and callers to Oprah Radio are strictly their own.