Choosing the right price when selling your home can be a difficult decision, but it is certainly an essential aspect of the process.

Your agent will probably discuss the current market conditions, interest rates, the state of the economy, seasonal demand, and the type of market (buyer's or seller's). Each of these must factor into your price considerations.

The physical qualities of your property such as location, age, size of your home, lot and floor plan should also be considered when setting a price. Establishing a balance between selling your home quickly and selling at the top end of the market should be your goal.

Many sellers make the mistake of setting a pre-determined price in their mind before obtaining all the facts. Unfortunately, they often factor in aspects that have no effect on the current value of the property including the home's original sale price, the cash proceeds needed from the sale, or what others have suggested the property is worth.

In order to get the best possible number, your agent will run a comparative market analysis on your home. This information is taken from the Multiple Listing Service and shows the listing price of similar houses in the area that are currently on the market as well as homes that are under contract and sold. You will have the opportunity to make the final decision on the sales price of your home, but it is the agent's job to give you enough information to help you make that decision.

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