"Sellers who put their home on the market with a 'Let's see what happens' mentality will end up with slower interest and then will be chasing the curve of the market," Mr. Burgess says. "They will end up selling it for less than if they had priced it right in the first place."
"Sellers need to price their home so that it is the best value compared to other comparable properties," Mr. Burgess says. "They also need to be prepared to negotiate. For example, buyers recently gave a full-price offer to my sellers, but they needed closing-cost assistance. The sellers were able to negotiate an increased sales price but gave back the extra money to the buyers as a closing cost credit."