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Whichever the case, if you start out with too high a price on your home, you may have just added to your stress level, and selling a home is stressful enough. There will be a lot of "behind the scenes" action taking place that you don’t know about.

First, the listing price is a key way to catch a buyer’s eye as they flip through dozens of listings online. If they see a price that seems too high for the size, location, or condition of the home, they’ll just flip to the next house and not add yours to the list of open houses to check out.

Second, listing agents are not only marketing your home to potential buyers, they are marketing and promoting your home to the hordes of other local agents who do work with homebuyers, dramatically increasing your personal sales force. During the first couple of days on the market your home should be a flurry of activity with buyer’s agents coming to preview your home so they can sell it to their clients.

If the price is right.

If you and your agent have overpriced, fewer agents will preview your home. Fewer buyers will want to see the home in person. If your house is dramatically above market, why waste time? Their time is better spent previewing homes that are priced realistically.

Next: Dropping Your Price...Too Late?