Every so often, I think it's useful to reiterate my advice to sellers that their properties should be listed at what will seem to buyers to be a compelling price. That means that there is a clear call to action, since the idea is that, at a price that seems really reasonable, others will bid if you do not, so you need to offer quickly to get the property. Sometimes that price is at or below the price at which your agent expects the property to sell, meaning that you are not planning to do much bargaining downward.
We believe that this is the best way to get more for a property. It may sound counter intuitive, but it can spark multiple offers and bidding wars, that will drive the price up higher than it would otherwise go. I know this works, so I try to practice it myself. I recently listed a property in another area for sale with a local Realtor. I listed at his recommended price, which was much lower than a previous seller had tried to sell it. Despite needing work, and having it come on at the end of the spring season, it immediately attracted two offers, and both ended up far over the asking price. Just like any seller, I wondered whether it had started out too low, but I realized that two separate parties ended up at the same price, so it was most likely the right one.
The lesson: Price low to attract eager buyers, and end up selling for more.
