Determine Asking Price

Your agent knows the current market trends. They also can know of comparable home sales (comps) for your area, i.e. your "competition" in the market. With their help you will be able to determine a fair listing price.

Q: Why shouldn’t I price my house a little high? I can always drop the price. The strategy sounds good but, in fact, it rarely works out. Seller's often settle for a lower sales price in the end. Why? You will see the most activity in the first few weeks on the market. Your over-priced house will have to compete with houses in that higher price range. Your competition will almost certainly be larger or newer or more luxurious. Against the competetion, your over-priced home is unlikely to attract an offer. Worse yet, during those first weeks other agents are previewing your house. If it’s over-priced, they may not even bother showing it to their buyers. When you eventually have to drop the price, you will create a lack of confidence in the property. Buyers will wonder why the house has been on the market so long and what might be "wrong" with it. This will likely factor into any offers you receive.