How do you know you have priced something correctly? When it sells fast? When it sells for over your asking price? When it sells after several weeks or months close to the asking price? When it sells after several months well below the asking price? Everyone has a different measure of this, but there is one that I think is most noteworthy.

How often have we heard a seller "It takes just one buyer!" implying that they don't care if everyone thinks their price is way too high, all it takes is that one buyer to pay up. They may be right. Most times however, they are wrong. I always judge pricing appropriateness - and I use that word because every price has a different strategy attached to it, some designed to take their time and others designed to accelerate, create urgency and preferably multiple bids, after a certain number of showings.