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What’s the perfect price when selling your home? Nobody knows. List too low and watch your investment slip away. List too high and drive potential buyers away.

What’s the perfect price when selling your home? Nobody knows. List too low and watch your investment slip away. List too high and drive potential buyers away.

Strategies for Setting a Price for Your Home

By ALINA DIZIK

Aug. 21, 2014 12:10 p.m. ET

BLINDED BY LOVE Sellers often overestimate the value of their homes for emotional reasons. Sol Linero

To get top dollar for his Portland, Ore., home, Alex Hickman played lowball. He set his asking price below that of comparable homes nearby—and got six offers in four days.

In residential real estate, the asking price is often as much about psychology as it is reality. Michael Seiler, professor of real estate and finance at The College of William & Mary in Williamsburg, Va., said that most home buyers don’t realize that setting an asking price is primarily a negotiating tactic. “When you set a list price, you’re sending a signal to the market,” he says.

via Strategies for Setting a Price for Your Home – WSJ.

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