How to Price Right

The price you set for your home is very important. It will determine how long it will stay in the market and how much profit you will get. The knowledge of your real estate agent with regards to this matter is crucial. He or she should be able to inform you in terms of the current market condition, what sells and what doesn't. Your goal is to price your house that fits its arket value but not too much.

Time. In real estate selling, time is against you. There are several factors involved that can determine the outcome. But time can be a good barometer to gauge your profit. Studies have shown that the longer a house stays in the market, it's price decreases. So if you want to sell your house for as high as your asking price, do what needs to be done to sell the house quickly.

You need to be objective when you come up with an asking price. How much you value your home may not translate to how much it's really worth. Don't spend so much on home improvements and raise the price because of these renovations. Potential buyers might not like the improvements and find your house overpriced.

Because you are running against time. Try to keep things as simple as possible. Keep an open mind and be flexible to your buyers' requests. As mush as possible do not include contingencies on the sale. This might drive buyers away.