One of the most difficult aspects of selling a home is establishing a sales price. Pricing a home can be emotional for sellers. Many want the price to reflect personal memories and experiences but these do not qualify as features of a home. Price, location and condition are the three most important items for a successful sale.

If you want to sell your home faster and for more money it is best to establish a sound pricing strategy from the very beginning. Statistics from the National Association of Realtors reveal that if homeowners overprice their home when first listing it, the home remains on the market longer and ultimately sells for much less than the original asking price. Remember, there is also a degree of value in moving on with your life. The following graph illustrates how the final sale price is adversely affected by time on market.

It is also important that sellers realize that a property usually gets the most attention from buyers just after it is put on the market. Therefore, it is imperative that sellers have the home in showing condition and priced well during the first four weeks of the marketing effort. There are many instances when the best offer we receive is the first one submitted.

Some sellers might be tempted to choose another salesperson who quotes them a higher asking price. This begs the question, "Does the salesperson want your success or a listing?" A salesperson who gives an unrealistically high price is making an empty promise.

In some cases, when sellers insist on overpricing their home we offer to hire an appraiser and agree to pay the fee if the appraisal is closer to their price estimate than ours.