When listing your home among Beavercreek homes for sale, you'll get all kinds of advice on setting your price. Be wary, because your well-intentioned friends and family may be passing on some really bad advice. In fact, the best thing you can do is to trust an experienced Realtor to help you set the right price to sell.

Our REALTORS® have some pointers for you on avoiding these pricing mistakes. 

1. Pricing your home based on all those extras you lovingly added.
   It sure is tempting to price your home with the notion you need payback for all those loving touches you added, from planting a butterfly garden to creating a cool pond out back. These touches can make a favorable impression but if you're pricing your home too high because you want to recoup the cost of these flourishes, hold on. These frills no doubt made you happy while you lived in your home, but they shouldn't affect the selling price. Avoid emotion, and set your price according to hard facts, such as the price of comparable properties in your area and square footage.
   
   
2. Adding a profit into your asking price over what you paid for the home.
   So sorry, but it doesn't work that way. Work with your Realtor to find what other homes similar to yours are selling for — or in other words, find out what the comps, or comparable properties in your area — are. 
   
   
3. Setting the price too high so you have room to negotiate.
   This is a common mistake sellers make. The fact is that when you set the price too high, potential buyers will know it. With all the information available on the internet, they know what comparable homes in your area are selling for, so they will likely avoid looking at your overpriced home. And you know what that means? Your home may well sit on the market so long that it will get stale, and buyers will think there is something wrong with it.
   
   
4. Including the cost of renovations in your asking price.
   That's a great kitchen rehab you did, but don't expect to recoup the cost. Buyers will probably not want to pay for it. They may agree to pay for some, but certainly not all renovations. Most sellers average only 64 percent profit on what they paid for renovations, according to Remodeling Magazine. In other words, it's not advisable to add 100 percent of the costs into your home's selling price.
   
   
5. Asking a high price when you're not in a hurry to sell.
   If you think it's a good idea to put your home on the market, pricing it high because you're prepared to wait for the buyer who's willing to pay your asking price — well, don't. Again, it could be your house just goes stale on the shelf, with no one willing to make an offer. 
   
   
6. Pricing your home high, because you expect buyers are going to lowball you.
   This strategy is bogus. This isn't a garage sale. Price your home too high, and potential buyers will avoid your home. What's more, you'll have to lower your asking price, and that makes you look desperate.
   
   
7. Going with the real estate agent who offers the highest list price.
   Unscrupulous agents may buy your listing and try to tempt you with an unreasonably high asking price. Stay away. Only do business with agents who are prepared to do a comparable market analysis — which will compare your house to similar homes when figuring out the asking price.

Need to learn more about pricing tactics? Contact Wright-Patt Realty.