Statistics show that a house receives its highest offer within the first four to six weeks on the market. Therefore, setting a realistic price is imperative in order to capture the attention of prospective buyers. Competitive pricing is essential to your home being shown and sold. So if you want to sell your home quickly, price it slightly below your best competition.

Avoid the temptation to overprice your home, as that brings serious risks. For example, overpricing:

• Puts your home out of the price range of a large group of buyers
• Makes other homes more attractive and competitive
• Discourages serious buyers who are educated on fair market value
• Results in repeated price reductions, which plant doubts in buyers' minds
• Wastes valuable marketing time, particularly in the first 30 days

Pay attention to feedback from prospective buyers and agents, and be prepared to make adjustments accordingly.