Setting a price can be one of the hardest things for a seller to do as emotion as well as other factors can come into play. In real estate, the price is determined by a variety of factors stemming from what a buyer is willing to pay for a property. Market and area factors are important considerations as you determine a list price.

Here are 5 other important pricing tips:

1. Don’t rely solely on online estimates such as “Zillow Zestimates.”

While these online sources are a great tool and starting point, they are not meant to be a purely accurate representation of a home’s value. Zillow even admitted that their tool is off by 8% or more in many markets.

2. Consider the unique, marketable features of your home.

Put your emotions away and consider the actual aspects of your home that would make it appeal to buyers – compared to other properties. Does it have an extra half bathroom? Is your deck larger than all others? These aspects can add real dollars to a sales price.

3. Mentally set your “bottom line.”

Look at all the fees and payoffs that will accompany a sale and determine what you actually need to get our of your home. This can be a great starting point for setting a list price by working up from here.

4. Consider getting an appraisal.

If you have no idea where to start or if your property is unique and difficult to value, consider calling in a professional. Having an appraisal done will look at area comps and other factors to determine a fair sales price for your property.

5. Look at area real estate – especially current homes on the market or under agreement.

What are those around you valuing their homes at? This can be a smart indicator of your home’s worth, especially if there are commonalities among the properties. Look at recent solds to see what buyers are actually paying in your area.