You have decided to sell your home, but there is more than just putting a sign in your yard and hoping for the best.

I am often asked if selling your home on your own is the best way to get the job done for the best price. It's hard to narrow that down to just a single answer, but you should consider a few things before you go down that path. Do you have enough knowledge and time to market your home, draw up legal documents such as sales agreements, disclosure sheets and more?

There of course will be some situations where you just don't have enough equity in your home to allow for closing costs and the cost of a realtors commission, but if you do I strongly recommend using a realtor to sell your home.

In my previous article I discussed on how to choose a real estate agent that will work best for you and with you. I will assume that you have already made that choice and are preparing to get your home listed for sale.

Choosing the right price when selling your home can be a difficult decision and can play a huge factor in how long it will take to sell your home. Before making any decisions on a price you need to take a look at the numbers.

You should have an idea of what closing costs you will be responsible for. You agent should be able to give you what is called a good faith estimate sheet with these numbers. Remember your closing costs will change if the selling price of your home changes.

You should also ask your agent to provide you with what is called "comps". Comps or comparisons, are what other similar homes in your area are selling for and have sold for. What you are most interested in here is comps for homes within a three to four mile radius. You need to ask your agent to see comps for both homes for sale and for homes that have sold within the last three months. The comps should be for homes that are very similar to yours. For example: If you have a home that is two stories with four bedrooms, a comp for a home that is a ranch and three bedrooms would not be a good comp.

Comps older than three to four months old are generally not a good indicator for determining the selling price of your home. The market changes frequently and you need to see the most recent activity.

Your comps along with your agent will help you determine what would be a good asking price for your home. Just remember you should never decide upon an asking price without looking at comps first, if your agent will not do this for you then find a new agent now. Another great way to get an idea for setting an asking price for your home is to go out and view some of your comps. This will give you a good feel for what your competition is in your price range.

Your asking price can make or break potential sales, take your time and do the research before you set your selling price!

Mark Boehm is the president of M-B Electronics, Inc, Electronic Toolbox, Inc and Creative Real Estate Investment Team, LLC. He has over 25 years of experience in the Audio Visual and Electronics Industry. He and his wife are also very active in Real Estate under the name of Creative Real Estate Investment Team, LLC.

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