How do you arrive at the right asking price?
Proper initial pricing is the single most important factor in selling your home. A misstep here will cost you valuable time and money. An overpriced home will become stale in the marketplace and to make up for lost time you might be inclined to reduce the asking price to below competing houses in order to move it. The basic laws of supply and demand help determine the "fair market value" for your home. To maximize your potential, I suggest a list price no more than 5% above the fair market value established in my comparative market analysis.

Pricing with a cushion for negotiations
Pricing your property with a cushion for negotiation can be costly if it pushes the price above the fair market value range. To begin the negotiating process, you must have interested buyers. If a property is overpriced, the number of people who see the property is reduced, so the likelihood of an acceptable offer is also reduced. The best approach to allow room for negotiation without sacrificing exposure is to price a home just within market value range. When a property is overpriced, windows of opportunity are missed. Broker and buyer interest is at its highest when a property is first put on the market. But if the property is priced above realistic market value, the excitement and number of showings are greatly reduced.

Comparative Pricing
The probability of receiving an acceptable offer on your property and completing a sale diminishes significantly when your asking price is higher than the current market value. To keep your asking price within the current market value range, review your Comparative Market Analysis as well as all the features and factors that affect your property's value in today's real estate market. The asking price of your property should be based on the information the market place provides us. With this information, you can make an informed decision about your asking price.