In today’s real estate market, setting the right price for your house is one of the most important things you can do. According to the U.S Economic Outlook by NAR, existing home prices nationwide will increase 3.8% in 2020 and 2.1% in 2021. This means experts anticipate home values to continue climbing into next year. Low inventory is largely keeping them from depreciating. Mark Fleming, Chief Economist at First American, notes: “Housing supply remains at historically low levels, so house price growth is likely to slow, but it’s not likely to go negative.”

When it comes to pricing your home, setting it at or slightly below market value will increase the visibility of your listing and drive more buyers your way. This strategy actually increases the number of buyers who will see your home in their search process.

Instead of trying to win the negotiation with one buyer, you should price your house so demand is maximized. This way, potential buyers don’t get deterred by a high price tag and you don’t find it sitting on the market longer than it should. By doing so, you won’t be negotiating with one buyer over the price. Instead, you’ll have multiple buyers competing for the property.