"Let's just put it on the market and see what happens?" - Not a Selling Strategy
Every real estate professional has heard this sophisticated marketing technique from a seller or two.There are many reasons why this technique doesn't work, and will probably fetch less than market value. For a full explanation, on why this doesn't work and a description on an effective strategy, please contact me privately. However, the most obvious reason of why this is a non-strategy, is because: "As REALTORS, we have access to information and resources which allow us to accurately determine home values today."
In other words, access to information is readily available to everyone including"would be" buyers and their agents, so people aren't just going to voluntarily pay more than what the home is worth. And let's face it, if your home is that unbelievably upgraded, if you price the home right and structure the right marketing strategy, you will generate enough offers to create a bidding war and sell for more.
So no matter the situation, over-pricing the home is probably the most devastating thing a seller can do, and almost guarantees less money for the property. Agents that allow this type of strategy are not confident enough to turn away business and tell sellers the truth. Instead their strategy is to hold the listing long enough to pressure the seller to lower the price, or hope that the market catches up in the interim.
Selling real estate is such an emotional roller coaster that most home owners can't think straight when it comes to pricing their home to sell for top dollar.
Hire an real estate professional that is going to be truthful about how much your home is worth, even if the information they provide is not what you want to hear.