Back in Spring of 2004, we listed our first home in Frisco TX, we did it with much enthusiasm. I was relatively new in real estate then. With a few transactions under my belt including ALL SOLD listings, I was full of energy, ready to get my own real estate sold - and quick too!

Showings were somewhat strong. So, I know buyers are looking in "my" price range. I tracked Buyers' agents after Buyers' agents that came through my property. All who gave feedback said that the property was great. But it just wasnt what their buyers were looking for. Yeah right!!!!

It sat close to 6 months on the market and by this time, my pride and confidence were pretty much shattered. Our strategy had turned to sell or rent; whatever comes first.

Oh boy, it was a tough lesson to digest.

What I learnt from listing my own Frisco TX home was PRICING IT CORRECTLY and not to be greedy. It was priced at originally 188K and after 6 months, it was down to 178K and I exhausted the strong Spring/ Summer buyers' pool by this point (it was around end of September by this time). Had I listed it originally at 178K, looking back now, I'm sure we would have gotten it sold.

The agents which I tracked purchased houses around the 178K price. Wow, such a painful lesson but I'm glad I went through it. How many times have I heard, "We'll list it at XXX first. If it doesnt sell by this time, we'll lower it". I'm sorry Dear Sellers, now I know to say, "By that time, there wont be much Buyers left". And it's the reality of a seller.

I've learnt to price it correctly the first time. Or else, I dont take the listing. Today, my record (even though not glamous), my own home is still the only listing I never sold.