It is tempting to determine the asking price of your home by figuring what you originally paid for it, adding the cost of improvements plus a healthy profit, and then put it on the market. This is a rookie mistake, however, and can cost you a lot of time and money.

It is essential that you place a smart, competitive price on your property. If the price is too high, your home stays on the market longer, increasing your expenses along the way. You may think it’s a good strategy to start high and then reduce the price if necessary. But, if potential buyers see a history of a dropped asking price, they will either wonder what’s wrong with the home since it hasn’t sold or they will think you must be getting desperate and will offer an even lower price.

Your real estate agent can tell you that sellers who list competitively from the start get a better price than those who list high and then go lower and lower. Let your agent help you avoid the overpricing trap. Together you can review a comparative market analysis of similar homes to yours that have sold in your area recently.

Also, consider your local market conditions. Are homes in your neighborhood selling quickly? Is it currently a buyer’s market or a seller’s market? Are you listing during the spring homebuying season or in the middle of winter?

Remember that some buyers are motivated by more than just price, so plan to be flexible to get your home sold quickly. When do the buyers want to move into the house? Can you, the seller, finance the the home? Are you willing to leave the patio furniture or an area rug? Be open and creative as you review the buyer’s offer.

Price your home based on reality, not just wishful thinking, and depend on your agent to be your best ally in finding your bottom line.

Some sellers hesitate to stage their home because they think it’s too much work or it’s too expensive or they really like their own decorating. So, why should you stage your home before your list it?

In brief, it will help you sell it faster and for a better price. Having your home on the market is difficult and you want the experience to be completed as quickly as possible. Staging gives you a chance to highlight your home’s best features and downplay the worst. You never get a second chance to make a first impression and your home is going to be scrutinized by many potential buyers. You want them to be able to see themselves living in your home. That means moving your personal touches out of sight and creating clean, open spaces to help buyers visualize themselves and their furnishings in it.

It’s hard to look at your home objectively and make the best choices for decluttering and rearranging. Your real estate agent can help you with that. Frequently, agents arrange for professional stagers to come in to make the hard decisions about what pictures to remove, how to arrange the furniture and make suggestions for quick updates that will make your home shine.

Staging gives you a headstart in getting ready to move. You must pack everything anyway, so start with the declutter process. Rooms crowded with stuff give the impression that there isn’t enough storage. Also, there are likely some minor repairs that will show up during inspection — get them done before listing as part of the staging process. Disrepairs make buyers think that your home hasn’t been maintained well so take care of anything that may catch a critical eye.

Stage the whole house to make the best impression. Give special focus to the front entry way and the room visible from it, the main living area, the kitchen, the master bedroom and any bonus areas, like a deck or den. Consider this list of inexpensive changes you can make to effectively stage your home:

• Make sure the living room is arranged for conversation as well as for viewing the television. Buyers need to envision sitting in the space and talking without having to move a chair. Accent the room’s best feature, such as adding a pretty plant near the fireplace hearth to draw the eye.
• Painting is an inexpensive fix to a tired room. Choose neutral colors for living spaces and more dramatic ones for bathrooms and the dining room. Neutrals need to be warmer tones like tan or khaki, not just an off-white.
• If your kitchen cabinets are dated, stain or paint them. Replace scratched or nicked door pulls.
• The master bedroom need to appeal to both sexes, so remove bedding and accessories that are too gender-specific. Paint the walls a neutral color, but choose a bright bedspread or comforter to give the room a focal point.
• Buyers love plenty of storage space and they will open every drawer and closet door. Unclutter all of them and organize your shelves to show off how much storage your home really has.
• Let the light in. When a showing is scheduled, open all the blinds and draperies. Turn on lamps and overhead lights. Make all the rooms look as light and airy as possible.
• If you have children or pets, visually reduce their presence so the home appeals to buyers who don’t have them. Confine children’s toys to their rooms, pack many of them away and organize the rest attractively. Place pets’ food bowls and litter boxes out of sight. Be conscientious about pet odors, too. If you need to get rid of old carpet that has trapped smells, do it!
• Your staging has to include the outside, too. Curb appeal is essential — you don’t want buyers to just drive-by. Add planters filled with plants and flowers by the front door. Trim shrubs and low hanging branches. Make sure the lawn looks good all the time. Take care of peeling paint and loose doorknobs. Replace a worn welcome mat with a new one. Powerwash the deck or patio and arrange the furniture into conversation areas.