Sylvia Porter; a household name in financial wisdom in major newspapers gives this advice to home sellers.
1) Consult your local Realtor who is well informed on local property values.
2) Don’t try to sell the house yourself and save the Realtor’s commission. The sale involves a great deal more time, financial know-how and red tape than you can imagine.
3) Ask your Realtor to give you an estimate of value of your house or hire an independent appraiser to give you an appraisal.
4) Beware of the firm whose estimate is thousands of dollars higher than the others. They may only be trying to get your listing and may never produce a buyer at the inflated price.
5) After setting the fair market value, don’t add thousands to it as it may sit for months, get shop-worn and end up selling for less than it would have — had it been priced correctly from the start.