There are strategies that can help you sell your home for a fair price anytime.

Don’t start with a high price. Asking price is the single most important reason that a property does not sell. In this buyer’s market, it is a mistake to set a high price and assume that you can lower it later, if necessary, in negotiations. Area real estate agents pay the most attention to listings when they first appear on the market. These days, they may not even bother to show your home to buyers if it is overpriced.

It you start out too high, by the time you do lower your price, real estate agents will have newer listings to show buyers. The buyers who do see your home will view your price cut as a sign of desperation and bid low.

The correct price to ask for your home in this market is toward the low end of the range of prices being asked on comparable homes currently for sale in the neighborhood.

Pricing your home as a slight bargain ensures that as many potential buyers as possible will walk through your door. This is crucial at times like these when home sellers outnumber buyers.

Recheck the asking price of comparable listings every two to four weeks if your home has not sold. When you do a price reduction, make it large enough so that the new price is very competitive with the comparable homes or is even a “best buy.”

Fix it up first. “Fixer-uppers” tend to be ignored in slow real estate markets because buyers can find good deals without breaking out their tools. If your home is in need of substantial repairs, it is best to get the work done before placing it on today’s market.

Pay attention to curb appeal.

Freshen up inside.

Include special features and construction details in your Multiple Listing Service listing.

Don’t over negotiate. If a potential buyer’s first offer is reasonable, consider accepting it, rather than making a higher counteroffer. Buyers have so many homes to choose from today that they sometimes move on to other properties, rather than make second offers when sellers don’t accept their initial bids. If you do not need to sell quickly or your home is garnering lots of showings, counter—but if you need to sell fast and the initial offer is reasonable, do not risk losing the sale over a relatively small amount of money.

*This article was taken from Jim Remley, Realty Times.