Sometimes the price is based on emotional reasons ... "I lived here all my life, I raised my children here ... We planted that tree 30 years ago when we got married." You get the idea. Unfortunately, no one will pay for someone else's memories. Are you willing to pay a higher price for your next home just because the owners have fond memories of the place? I didn't think so.

Another popular pricing method is when FSBOs add their home improvements to the selling price of a neighbor's home. Here's why that doesn't work: Let's say last year you got an in-ground pool that cost $20,000. Now you're being transferred. Your neighbor's home (which is identical to yours) just sold for $195,000. You price your home at $215,000 (after all, you have an incredible new pool), but according to the Multiple Listing Service, there are 3 other homes in your area for sale priced around $199,000.

Here's the hard facts: In Maryland, you may not going to recoup the cost of some home improvements such as a pool. In fact, many people will not consider your home if it has a pool. Pools are a hazard for families with young kids (a lot of kids drown every year due to backyard pool accidents). Retired couples may not want the expense or the required maintenance of having a pool.

So, in this example, if you really wanted to sell your home without a real estate professional, you should price your home at around $195,000.

Keep in mind: Your goal is to save the commission. What's the buyer's goal? Why would a buyer purchase a home from a FSBO when they can (for free) use the services of a real estate professional and get access to all the homes in the Multiple Listing Service?   Why would you purchase from a FSBO? The answer is to get a good deal.