List high because I can always reduce the price if I have to. Among real estate professionals this strategy is known to be counter productive. List price is part of the marketing message along with the photos, features and benefits and description. A home priced 5% above fair market value will have less showings. 10% above will have far less showings and perhaps less offers. When I speak with a seller who's house didn't sell with another agent I often ask did you have many offers and inevitably the answer is "No". Remember here in Southern California approximately 22.3% of homes that go on the market don't sell (and every seller thought it would). Over 50% have had one or more price reductions (it sat on the market until the seller decided to reduce the price). You really don't want that because people wonder what's wrong with the house.
You might consider this: Time. Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity (read: fair market value). More buyers = more offers = higher price!
It's important to remember that when you put your home up for sale the emphasis switches from what you think the house is worth to what qualified buyers thing it is worth. You may love that contrast wall or the flooring you installed but contemporary buyers might feel differently. Be open to suggestion and we'll get the job done well for you.
Make it easy for buyers to view the home. Don't create a bunch of hurdles for buyers such as 24 hour notice, cross qualify with our preferred lender etc.
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.