Instructions:
STEP 1: Establish your flexibility. Decide ahead of time how much, if any, you're willing to trim from the asking price to make a sale. Or, in a hot market, be prepared to deal with multiple offers. Consider financing the sale yourself. STEP 2: Get psyched up to dicker. Depending on local market conditions, many buyers may not offer the full asking price the first time around. In a buyer's market, you'll need to determine what is most important to you--price, moving date, keeping the appliances--and get the best deal possible. That said, the first offer is frequently the best offer, so don't be unreasonable. In a seller's market, expect to get close to your asking price or over in a very short period of time. But be careful: Pricing your home too high could keep it on the market longer than you wanted, causing you to have to drop the price later anyway (see Step 4 below). STEP 3: Weigh the pros and cons of multiple offers, if you're lucky enough to have them. Consider the offering price, how solid the buyer's financing is, whether the sale is contingent on the sale of the buyer's house, and the move-out date. Your real estate agent should be able to advise you. STEP 4: Reduce the asking price if your home doesn't attract any offers. Start with a 5 percent drop and see if that boosts interest.