Warning...REALTOR response to follow! They(We) take all of the properties that have sold in the past 6 months that are as close to the same as yours is and then they compare the prices and come up with an average price. You will probably be quoted in a price range and you will get to pick the best price. Remember that higher while it seems better for you, will impact how long you have to wait to sell that house and that will mean more house payments and other bills and maybe time away from the family too. All very unpopular punishments for a house that isn't priced well enough to sell. Consider your goals carefully before you set that price. Decide what is more important time or money, if you HAD to choose one, what would it be. Then share that with the REALTOR and listen well to the information they provide. Look at the days on market for higher priced homes. Can you afford to stay longer or make house payments on two properties if it doesn't sell? You might want to ask them to bring you comparables for expired listings too so that you can see what has happened to other people who set a higher price.
If your property is in nice, clean, uncluttered (hear the word staged!) condition your best chance to sell it is in the first 4-6 weeks that it is on the market period. After that it's like the merchandice at the store, it becomes a dated listing and refreshing it is about as successful as trying to refresh milk at the store! (Not too likely, eh!) Most REALTORS are bright enough to scout out how long a property has really been on the market no matter what you might hear to the contrary. A buyer will believe that if it has sat for too long, there is "something wrong" with it. Those are the plain old facts I'm sorry to say. You did ask though! Good luck.
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