The most common mistake while selling home is the setting of sale price too high and clearly has many drawbacks that will do more harm than good. In this price sensitive market, the pricing plays a crucial role, so make sure you don’t set it too high. Many sellers request to list their home a little high despite them being told the right selling price just to see if they can sell the home for higher price, this is a try and test formula and in most cases, has proved lethal and highly downgrades the selling potential of a home. By the time they understand that their suggested price is not working, the sellers will request to reduce the listing price, though the price is re-corrected, the damage has already been done and potential buyers have turned away. The current potential buyer will be more concerned to find the faults of the house as a result of decrease in listing price and might end up with more in negotiations.
Also, the newly listed homes have a 50% better chance of getting exposed to buyers, and the chances of a home listed on market for long and further price reduction doesn’t stand as a good buy in eyes of buyers. One more factor that needs to be understood is that a newly listed home is showcased on multiple 3rd party networks through MLS feeds for free but a home with newly reduced price doesn’t get re-listed.
Thus, hire a professional realtor and put in your full faith with him/her towards the price they suggest for your listing.