Awhile back, a fellow agent member of AR wrote a "members only" blog expressing frustration. She presented a market analysis to a seller whose home had been previously listed by three other agents. After doing so, he assured her his home was worth exponentially more than the market indicated. Then he called to brag that he had a buyer who would give him almost what he thought his home was worth.
Yes, if he's unbelievably lucky his buyer Will Not have a Buyers Agent, will pay him cash and will not get an appraisal - that's the real estate equivalent of winning the mega-millions lottery but, every year there are a handful of sellers who hit the jackpot!
Every year in our market, there are a handful of properties that sell above market. This year, I'm watching a home built on a grossly overpaid lot purchased 3 years ago.
In the case that prompted the blog posting, an agent with principles educated a seller regarding his properties worth in the market place. Regardless, his position remained "my minds made up, don't confuse me with the facts!" She chose not to list it because listing it at a price far above market conflicts with her principles.
Still, I suppose it's possible this seller has a "sucker" otherwise called a cash buyer without an agent who will forgo an appraisal.
Make sure you work with a knowledgeable Buyer's Agent who will educate you in market values to insure you don't end up being the sucker who overpays and allows a Seller to brag they got more than their property was worth in the marketplace!