In this market, overpricing is not a good selling strategy. You'll likely end up reducing the price after you don't get any offers.

You obviously want to get the highest possible price for your home, but you won't be doing yourself any favors if you price your home higher than the comps, i.e. the comparable homes in your area with similar square footage, construction, age and condition that sold recently or are currently on the market.

Serious buyers are well-informed and will instantly dismiss your property if they believe it's overpriced. (Hence, all the price reductions in today's market.)

On the other hand, pricing competitively (read: lower than similar homes in your area) will spark lots of interest in your home and could lead to multiple offers -- and, ultimately, a higher sales price.

• Learn why you should price low to sell high

• Get pricing tips in FrontDoor's Guide to Pricing Your Home

• Learn what moves to make and what mistakes to avoid when selling a home

• Get more tips on pricing, preparing and promoting your home for sale in our Home Seller's Guide

NEXT: FrontDoor's Top 10 Home Selling Mistakes That Can Cost You >>

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