That preparation includes documenting comparable sales that actually match the home's condition and improvements, not a generic city average, so any counteroffer is backed by specific evidence a buyer's agent can be shown rather than a number pulled from thin air.
It also means understanding the conditions in play, financing and a home inspection typically $400 to $600 among the most common, so a negotiation over price does not get derailed by a condition issue that could have been anticipated and addressed earlier.
Preparation is what turns a negotiation into a plan instead of a guess. Get your hand-reviewed valuation from Joel Dyck.