What Happens Behind the Scenes
Whichever the case, if you start out with too high a price on your home, you may have just added to your stress level, and selling a home is stressful enough. There will be a lot of "behind the scenes" action taking place that you dont know about.
Contrary to popular opinion, the listing agent does not usually attempt to sell your home to a homebuyer. That isnt very efficient. Listing agents market and promote your home to the hordes of other local agents who do work with homebuyers, dramatically increasing your personal sales force. During the first couple of weeks your home should be a flurry of activity with buyers agents coming to preview your home so they can sell it to their clients... if the price is right!
If you and your agent have overpriced the home, fewer agents will preview it. After all, they are Realtors, and it is their job to know local market conditions and home values. If your house is dramatically above market, why waste time? Their time is better spent previewing homes that are priced realistically.
Dropping Your Price...Too Late
