When you first make a listing appointment, the broker will ask you to compile a list of documents pertinent to the property and sale. Meanwhile, the broker will study recent neighborhood sales (“comps”) and begin to determine how to price and market your property.

By the time the listing appointment arrives, both you and your listing broker will be well prepared, but there is a lot of work to do. The listing broker you meet with will want to inspect your house and yard to become familiar with it. If your home has special features, tell the broker about them; they’ll help sell your property. Be specific about schools, transportation, shopping, and parks and recreation opportunities. Prospective buyers are always comparison shopping, and features of your home and neighborhood that set it apart from others may make a difference.

After visiting with you and reviewing the property, your listing broker will help you set an asking price for the house. The basis for your selling price is its market value, commonly defined as the amount a willing buyer will pay, and an amount acceptable to the seller. The best indicators of market price are the comps that your listing broker researched before meeting with you.

A rule of thumb is that homes priced more than 5% over market value won’t sell. That’s because a buyer who feels your home is overpriced will more readily buy “more house” elsewhere for the same amount.

Once the sales price is determined, the listing broker will crunch numbers to determine the net cash from sale of the home. This simply anticipates the money you will receive from the home sale, once all fees and charges are settled. The listing broker will leave such a “net sheet” with you.

The other side of the numbers deals with the financing a buyer will need to arrange to make the property purchase. Just as a more attractive home will attract more buyers, more attractive financing options will appeal to a larger range of prospects. Your broker should explain the basic financing options, including Veterans Administrations (VA) and Federal Housing Administration (FHA) loans, plus conventional financing.

You should also learn about “discount points.” A point is one percent of a buyer’s mortgage loan. A point on a $100,000 loan is $1,000, while a point on a $350,000 loan is $3,500. Points are charged by lenders to sellers, buyers, or both in order to increase the yield of their loans.