"I'm going to price my property higher than what I expect to get because it's smart to leave room for negotiation."
On a good day savvy sellers relied on their real estate agent's Comparative Market Analysis to price their house. With the expectation that prospective buyers will negotiate on price, many sellers often created a sort of buffer zone by padding the price a liitle, and sometimes by a lot.
This is a bad idea in today's buyer's market where thoughtfully priced houses in good condition sell and overpriced ones do not.
Every venue has its own customs. There may be less harm for instance overpricing your house, for a short time, in a robust seller's market wherever that is these days. You might even get lucky. But most markets today are controlled by buyers so don't play games. You need to nail the asking price and maybe add on a few percentage points.
"So, just bring me an offer," is what some sellers might say. Again, bad idea! An overly aggressive price actually deters many buyers from ever submitting an offer.
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