Are you under time pressure? If not, would the following strategy be possible?
overprice a lot;
if it doesn’t sell, withdraw from the market and wait for a few months, so that the buyers forget about you;
try again, now with a lower price, but still overpriced.
The idea is that if there is a chance to sell at the higher price, that will probably be the most easily made money you ever got. Also, not sure whether the buyers can identify that it is the same house in both cases; if they can not, then you are possibly creating a mistaken impression of “there was a similar house in the same location in the past, it was more expensive, and apparently it sold (because it disappeared from the listings)”.
Ha! I love it! But I don’t think it would work. At least where I am, everyone uses Redfin and similar which make it very transparent which listings were removed due to a sale and which were removed without a sale (sales are a matter of public record), and you can immediately see all the previous listings associated with a given property and how they turned out.
And I’m not convinced that listing high is a benefit anyway. It might sell for an even higher price if you list low, with people bidding above the list price (e.g. in a bidding war)
Are you under time pressure? If not, would the following strategy be possible?
overprice a lot;
if it doesn’t sell, withdraw from the market and wait for a few months, so that the buyers forget about you;
try again, now with a lower price, but still overpriced.
The idea is that if there is a chance to sell at the higher price, that will probably be the most easily made money you ever got. Also, not sure whether the buyers can identify that it is the same house in both cases; if they can not, then you are possibly creating a mistaken impression of “there was a similar house in the same location in the past, it was more expensive, and apparently it sold (because it disappeared from the listings)”.
Ha! I love it! But I don’t think it would work. At least where I am, everyone uses Redfin and similar which make it very transparent which listings were removed due to a sale and which were removed without a sale (sales are a matter of public record), and you can immediately see all the previous listings associated with a given property and how they turned out.
And I’m not convinced that listing high is a benefit anyway. It might sell for an even higher price if you list low, with people bidding above the list price (e.g. in a bidding war)