The process of selling your home can be a daunting task, even with assistance from an experienced real estate agent, and the process can be time-consuming as well. However, one of the most powerful components of a smooth sale is often glossed over or performed in a rushed manner: setting an appropriate asking price is a key factor in the sale of real estate.

Many people rush through this step by simply asking their realtor to recommend a list price. Keep in mind that you could be leaving a significant amount of money on the table by doing this. It's true that your real estate agent's job is to help you sell your house, but at the same time, this person needs to make a living, and he or she is paid on a straight commission basis. Take the necessary time to discuss your pricing thoughts after you've heard from the agent who wants to "list" your home. It should be a collaborative effort to get the BEST value. That will be determined by a realistic price set by you, and a buyer who is willing to meet, or come close to that price.

Protect Your Interests
Real estate agents are generally helpful and have their client's best interests in mind, but they may also have their own agenda. For example, pricing a house lower than possible will generally help it sell more quickly. If your agent is looking to make a quick sale, he or she could recommend a slightly lower price than the market might allow. This is a customary practice if you require a quick sale. However, if you're looking to sell your house at the highest reasonable value, this approach will not meet your needs. Look for a broker who has put thought into your home price potential.

It is equally important to know what final price you will comfortably accept, after all the negotiations are complete. The best way to make an educated decision about these two factors is to be informed. Our HomeSmart Value Report is created with the same statistical analysis models used by mortgage lenders to determine the value of your home, and our report is available for only $24.95.