Any house seller must remember that, in order to maximize profits from selling houses, the house must be sold during a seller's market.
This is the time wherein the demand for a commodity (in this case, a house) is higher than the actual number of available house units.
During this period, the price of houses will definitely appreciate.
And the profit is yours for the taking.
But what happens if it's a buyer market? You really need to do your homework, talk to a few real estate agents in your area and get a real feel of what the true selling price is.
I say that because you will encounter many agents that will be "yes" men.
Tell you exactly what you want to hear to get your listing.
In the meantime you're losing time and money.
The plan is to avoid the listing in becoming stale, this happens when it sits too long.
If you are provided with comparable make sure the highest and the lowest are removed unless you believe your home is in that category.
Pay close attention to sold listings in the last three months.
This will be your best indicator.
The best thing you can do is go to a few open houses on Sunday and be as honest as possible.
Look at the conditions of the properties, how much has to be updated.
People in a buyer's market knit pick they will not pay top dollar for something that is clearly substandard.
Study the floor plan, etc.
How does your home compare? Now study the price.
You need to price your home to attract the most amounts of buyers, the sooner the better.