Deciding how much to ask is one of the most important decisions when selling your home. Here are some pitfalls to avoid.

MISTAKE 1: OVERPRICING YOUR HOME

Setting a high asking price can backfire. Buyers are reluctant to make offers on clearly overpriced homes. And the longer a home sits on the market, the more it takes on the stigma of a property with a problem.

MISTAKE 2: RELYING ON BAD INFORMATION

Some home values you find online may be based on incomplete or inaccurate data. REALTORS® and real estate appraisers are your best sources for real estate date and pricing information.

MISTAKE 3: COMPARING YOUR HOME TO THE WRONG PROPERTIES

Your house may be worth more or less than a similar house in a different neighborhood. In addition to location, other factors that affect price include property condition, size, and features.

MISTAKE 4: FACTORING IN YOUR EMOTIONS OR FINANCES

Buyers won’t pay more for the fond memories you have of your time in your home. They also won’t take into account your financial situation. All that matters is what the home is worth to them.

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Article originally appeared in Texas Realtor Magazine, May 2018.