Consider comparable sales.  What have other homes in your neighborhood Sold for recently?  How long were they one the market?  How do they compare to your home in terms of Gross Living Area square footage, overall utility and functionality, upkeep, and amenities?

Consider your competition.  How many other houses are for sale in your area? Are you competing against new construction homes?

Consider your contingencies.  Do you have special plans, needs or concerns that would affect the price you’ll receive?  For example, do you want to be able to move in four months?

Be accurate.  Studies show that homes priced higher than 3 percent over the correct price take longer to sell.

Know what you’ll accept.  It’s critical to know what price you’ll accept before beginning a negotiation with a buyer.

Reprinted from REALTOR^® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2005. All rights reserved. www.REALTOR.org/realtormag

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Last modified: 02/23/07.