You don't want to set your asking price too low or too high. Setting it too low means you could miss out on thousands of dollar that a Buyer would have willingly paid. Setting it too high can scare away serious Buyers and leave your home on the market for too long.
This is where you want to price your home and it simply means the maximum amount of money that interested Buyers are willing to pay for your property - and remember, Buyers will comparison shop!
There can be multiple factors that will determine the market value in a Buyer's mind:
The list is long and detailed. Some of these things you can improve on but many you can't change so it is imperative that you are properly priced in relation to other homes that are your direct competition.
It's nearly impossible to replace the initial flurry of interest and activity a new listing will generate. Once your home is on the market anyone looking for a similar home in that price range will want to view it. You want to be properly priced to take full advantage of this initial wave of excitement.