Once you have decided to sell your home, the next major decision you must make is how much to ask for it. A sound and realistic strategy in setting your price can ensure you of two things -- you will be more likely to obtain your asking price (or very close to it) and you'll get it sooner. Here are some tips to help you:

RELY ON YOUR TORRENS REAL ESTATE AGENT. Through their expert local knowledge they can help you establish a realistic price for your home based on its location, age, size, features and market variables such as interest rates and the availability of financing.

Your Torrens Real Estate agent shares your goal of obtaining the best possible price for your home. The sale price of your home should be based on an analysis of prices achieved recently on similar properties within your neighbourhood.

Question the motives of anyone who tries to influence your asking price whether because of their recent experiences in selling or their general proximity to your home.

Torrens Real Estate agents are trained to look at the broad spectrum of the current market and to identify a realistic price level for your property. Remember the true value of your home will ultimately be determined by the purchaser.

PRICING FOR THE MARKET. If your price is too high, you could shut off the most important ingredient of real estate selling -- a constant flow of qualified prospective purchasers who are looking for homes in the price range you establish. Astute purchasers will develop a sense of values for properties and will quickly reject those they perceive to be overpriced (often even before inspecting them). While a prospect might submit a lower bid and give you a price to at least begin negotiations, this certainly won't happen automatically. Many prospects are embarrassed to make offers that are substantially below your asking price.

BUYER-SELLER PSYCHOLOGY. In any buyer-seller relationship it's normal for the seller to ask themselves "I wonder if I could have asked for more?" On the other hand the buyer may question whether he could have paid less.

The professional art of negotiating for the best price is a skill that your Torrens Real Estate agent has mastered. Knowing when the time is right to stand firm is part of their specialised experience. One key of obtaining a speedy, successful sale of course is starting with a realistic price in the first place.

TIME IS MONEY. When it comes to selling your home, time is money. Every day a home does not sell because it is incorrectly priced can mean extra expenses that the owner has to incur for repayments of principal, interest, taxes, insurance and maintenance.

And... a home that is on the market too long because of its uncompetitive prices sends out signals that "something must be wrong with it".

YOUR TORRENS REAL ESTATE AGENT SHARES YOUR INTEREST. Remember, like you, they have a keen interest in getting the best possible price for your home. Let them apply sound, up-to-the-minute market experience to help you price your home to sell!