This was on the Website for the California Association of Realtors and it just bears repeating. It reflects the experience of most veteran Realtors.
- PRICING TOO HIGH FROM THE START
Fix: Statistics show that homes priced correctly when they first hit the market sell closer to the asking price than homes that start too high, then have to adjust downward.
- USING AN ODD LIST PRICE, LIKE $864.257
Fix: Always price in round numbers! Realtors® search for homes using price categories – make sure your pricing makes sense when agents search a window of $250,000 to $350,000 for example.
- NOT BASING YOUR PRICE ON SOLD HOMES
Fix: Searching actual “SOLDS” is the only true pricing guide. A home can be listed for any amount – that doesn’t mean the home will ever sell for that amount.
- REFUSING TO NEGOTIATE
Fix: Your asking price should have some built-in flexibility. Otherwise you’re bound to turn away and turn off some serious buyers.
Source: C.A.R. story