It's kinda like chasing a ball down a steep hill.  You're always chasing the market when you choose to "test the market".  If you're selling your home, you no longer have the option of pricing your home too high thinking, "Well, I can always come down..."

Today, you need to break out of the starting gate priced right!  Otherwise, your home may be ON the market, but you won't be IN the market.  Knowing that the majority of homes in 2008 failed to sell, it's imperative to price your home aggressively.

So what does that look like?  Does that mean that I have to "give my house away??"  Absolutely not.  It just means that you need to price your home in such a way that when a couple comes to see it, they'll get a knot in their stomach at the very thought that someone else grab it up before they can get to the office with their Realtor and write up an offer!

Using the analogy of going fishing:  you've got to lower your bait down to where the fish can see it.  Once they see how enticing and attractive it is, they'll do more than just bite - you'll start a feeding frenzy as they try to be the first one to get to it!

Remember, this is a contest.  You're running a race.  You've got competitors everywhere you look.  Inventory is extremely high and buyers have more choices than they've had in many years.  So you've got to make your home the best looking home around and you've got to price it just under your closest competitor.  Do that, and you'll have the best shot of coming out the winner.

Jacki and Jerry Shafer are "mega agents" with The Shafer Team and Keller Williams Realty East.  Specializing in residential real estate sales in Louisville, Kentucky and surrounding counties of Oldham, Henry, and Shelby Counties.