By Brendon DeSimone on 16 Aug 2016
You may think of it as giving yourself room to bargain, but beware. You could just turn off buyers.
Pricing a home for sale is more of an art than a science. Each home’s value falls within a range, and the price the buyer and seller agree on determines the exact value of the property.
If priced competitively from the very beginning, a home will sell at the higher end of the value range. The longer it lingers, the lower it lands in that range.
In fact, “homes that linger on the market tend to sell for significantly less than their listing price: five percent less after two months,” according to Zillow research.