Don't over-inflate the price
If the listing price is over-inflated, many buyers will not even bother coming to an open house or making an offer. Buyers have the same resources you do--professionals, comparable listings and sales prices of nearby houses, and even websites that calculate the market value of a home. Over-pricing the house can backfire and actually cause you to lose money as your house sits on the market for a longer period of time. If it sits unsold for too long, some buyers might become suspicious that there is something wrong with it.
Use data to find out the market value
Enlisting a real estate agent is one of the quickest ways to get a good read on how much homes like yours have sold for in the past few months. Full-time agents familiar with your city and neighborhood will know what you can realistically get for your home. If you choose not to go with an agent, there are still options. Professional appraisers are available for hire to come to your house and give you a realistic price range. There are also many forms available online that take various factors into consideration--including prices of other local homes--and spit out a price. (These, however, might not be as accurate as a professional.)
Don't go too low
While you want to be realistic, you don't want to go so low that you end up under-pricing yourself. Most buyers expect to do negotiating and pay less than the listing price. The number you set as your listing price should not also be the lowest amount you are willing to accept. Negotiation is part of the process and you want to keep that in mind from the start.
Hopefully these tips help you while pricing your Boston home. If you have any other questions about selling, or about Boston real estate in general, do not hesitate to contact me.
Michael Feldman
Keller Williams Realty-Boston MetroCheck Out My Website
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