The most important thing that sellers and buyers need to know about real estate markets is that they are LOGICAL and they are PREDICTABLE.
For example, let’s say a seller’s house is priced at $500k and it’s been on the market for 150 days. Is it logical or predictable to expect a buyer to come along and give the seller $500k for a house that no one else has wanted at that price for 5 months? Hardly. That’s why pricing a home above market makes absolutely no sense. That’s also why a savvy seller’s marketing plan MUST BE DESIGNED TO DELIVER THE LOGICAL AND PREDICTABLE and that requires a market-based price backed up with an aggressive marketing plan.
A plan designed to deliver a LOGICAL AND PREDICTABLE result will attract MULTIPLE BUYERS who will DRIVE UP THE PRICE. It is only under those circumstances that the door will be held wide open for a very PLEASANT SURPRISE.