Your First Offer Is Your Best Offer
Most homeowners have a price in their head before they speak with a listing agent. They think of how much they paid for it, and how much they'd like to make from it, plus 10% or so for the memories. But that doesn't have much to do with the market. Real estate prices go up and down. Buyers try to get the best deal they can. The price is ultimately determined by what the market will bear.
While almost all property goes up in price, there is no guarantee.
The average difference between the list and sales price of a home is about 6 percent.
It's a agent’s maxim that "Your first offer is your best offer." If you remain too strongly attached to your starting price, you may wait a long time for it to sell, and often have to sell at a lower price than what you were first offered.
The maxim isn't always true, though. Someone may come along with a better offer, but you have to recognize the risk that the first person to make an offer probably won't still be offering by the time you come around.
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