If you are thinking of selling your home, you may be concerned about the status of the current housing market. Although the market presents a challenge, there are still buyers out there who want to buy a home or who must buy a home (due to relocation). So it is not a matter of whether you can sell; rather, the question becomes “How do I sell in today’s market?”

There are always only two factors that affect the sale of your home, and today I would like to discuss the first one: price. After listing your home for sale, obtaining appropriate and highly visible signage, and making sure that your real estate agent is doing everything in his or her power to expose the house to potential buyers, it is time to consider your price.

Since most of the interested buyers show up near the beginning of the listing, it is vital that you have an attractive price on the house from the start. Otherwise, the listing becomes “stale”. Don’t be tempted to overprice it just to test the market. This lets buyers know that it was overpriced, and makes them wonder if it still is, even after you have lowered the price. Besides, if you do happen to get a buyer who offers to pay the high price, his lender appraisal will bring your price back down to market value.

In today’s market, I would recommend that you actually consider setting your price a little bit under market. Say that three houses in your subdivision are for sale; all are fairly new homes, well-maintained, and similar in size and amenities. With not much to set yours apart, offering a lower price will give the buyer a perceived better value. Your house will be the one that sells first. The others will sit on the market — and any time a piece of real estate is not moving, it is costing the owner money.