Pricing a home to sell is far from an exact science. Figuring out the sweet spot that will get a seller a good price in the shortest amount of time possible takes experience and market expertise.

But even with lots of experience in the local market, every agent has a property from time to time that doesn't drum up much interest early in the game. When that happens, it's time to re-evaluate the listing, including its price. After all, price is one of the biggest -- if not THE biggest -- factor on a buyer's mind.

So let's say a listing has been on the market for 30 days. For the sake of argument, let's assume the property is in good shape -- moderately updated, good floor plan, well-located, no significant maintenance issues, no over-personalization that's turning people off. The market is relatively balanced, with strong inventory and qualified buyers.

If there have been no offers on that property in its first 30 days on the market, I'm going to wonder why.

So then it's time to consider what sort of traffic it's been getting, and there are two situations that make me suspect price could the problem:

• Interest in the house is low or nonexistent.

• Interest in the house has been steady, but we're getting very little feedback.

Now, right off the bat, I want to emphasize that there are loads of factors that could be at play here, and every situation is unique. But sometimes when you're not hearing much about an otherwise good listing, it's because buyers believe the house to be overpriced. They assume the seller won't be willing to come down enough to make a deal. In some cases, they won't even call for a showing.

When this is the case, even a small adjustment can get things going.

Obviously, most sellers don't want to take a lower price for their homes. But beyond that, sometimes sellers worry that a price reduction will make buyers think they're desperate for any offer, no matter how low. This is especially true after a listing has been on the market a couple of months and has started to season a little.

In reality, a price reduction is a signal to a buyer that a seller is willing to negotiate. A reduction can also bring in a whole new audience for your home simply because the price now falls into a slightly different range.

So back to that listing we were talking about -- the good one that hasn't had any offers. This time, let's say it's got a good floor plan and location, but it's not in the same kind of shape. Maybe it hasn't had any updates for a while or it needs some repairs. The listing is getting traffic, but it's also getting negative feedback about work that needs to be done. Still no offers.

At this point, it's time to make a decision: Reduce the price of the property or make some improvements or other concessions. This is another place where your Realtor's experience counts. Not all buyers have the appetite or the cash for more than some really basic maintenance, and your Realtor should be able to help you identify the problems that present the biggest barriers, especially once buyer feedback starts coming in.

Sellers in this situation have to consider their own circumstances to make the right choice: Timeline, financial resources available for improvements, minimum price needed on the property at closing. It's also important to carefully weigh market factors -- average time on market, for example.

You'll want to explore these possibilities with your Realtor before you list to put yourself in the best possible position in case your house doesn't get the activity you expect. First, that should give you a good indication of whether your expectations are realistic. But it also gives your Realtor important information and gets you ready to take action when and if you need to.

If you're ready to list -- or even if you're just thinking about it -- but want to talk more about pricing your property to sell, contact me anytime at (540) 793-0442 orrpayne@mkbrealtors.com.