How important is pricing when selling your home?

When selling your home, the most common mistake sellers make is setting their own price on the home.  It is very important to look at the comparables in your area, and realize buyers and realtors are familiar with the market as well, and will only pay market value.  I often hear "we need to get "x" dollars out of this home because we want to pay off our debt, upgrade to a larger home etc.  Your plans have no bearing on the actual market pricing and what your home should be priced at.   

The comparable properties in your area are the only factors when pricing a home.  When a property is over priced, it inconveniences the seller with many showings which result in negative feedback.  The property often never sells and the ultimate goal of selling your home, will not happen.  The longer the property is on the market, the buyers and realtors begin to question what is wrong with the property, which can bring low priced offers.  Biggest mistake you can make is over pricing your home, always seek professional advice instead of reasoning why you want more money!

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