The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. The National Association of Realtors has done some studies on pricing and has found that pricing your home just 15% above market value reduces the numbers of potential buyers who will look at your house by 50%! You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.

Several factors will contribute to your final decision. When you first contact a real estate agent they will provide you with a CMA or Comparative Market Analysis,which compares your house to others that are in the market. Some examples of the information the CMA will provide is:
*houses in your price range and area sold recently
*asking and selling prices of houses currently on the market
*average Days on Market (DOM) for houses that have sold recently
*features of houses on the market

From the CMA, you will find out the difference between the asking price and selling price for all homes sold, the condition of the market, and other houses comparable to yours.

Also, try to find out what is going on in the local market and how you can use that information. Buyers follow trends, and these trends can help you set your price.

You should also find out how a real estate company will market your property.

Always be realistic about your home and work to understand the current market conditions and set your price to reflect that. At Kinlin Grover I strive to explain each of these factors and to set a realistic price that will sell your home and bring you the highest return the market will bear.