As a real estate agent, one of the most powerful tools at our disposal is the Multiple Listing Service, commonly referred to as the MLS. The MLS is essentially a subscription-based service that real estate agents use to share information about properties for sale. By pooling resources, agents can provide their clients with comprehensive listings that include vital details about each property, such as price, square footage, and amenities.

Setting the right asking price for a home is a critical decision a seller will make. It can mean the difference between selling quickly and lagging on the market, or even selling below market value. But how exactly are asking prices determined, and what factors should sellers and their real estate agents consider? In this post, I'll walk through the intricacies of asking price determination, the methods used by professionals, and what to watch out for when pricing a home.