Pricing to Sell

When setting the price of your home, there are several factors to consider. With the help of your sales associate, you can evaluate everything from market conditions to neighborhood influences. Your sales associate can also show you comparable homes that have sold or are for sale in your neighborhood.

Many sellers say, "Let's try to sell our home at a high price- then if it doesn't sell, we can lower the price."

That's not the right thinking for selling your home. It's important to set the right price from the beginning because setting a high price may limit the number of buyers. A high price may cause buyers to view your house with suspicion- ultimately hurting your bottom line. You may actually get less for your home if you overprice at first.

When setting the price, realize that what you paid for the home will not impact on the current price paid- but market conditions and the willingness of a buyer to pay the price you ask are the important factors.

Leave room in your asking price for negotiating. Often, a price about 5 percent over the fair market value gives you bargaining room.

And remember, there really is no best time to sell your home. Strong or weak market conditions, variables in financing and your schedule are all part of the selling equation.