One of the smartest ways to evaluate how your home should be positioned and where it should be priced, is to review the homes that have listed – and failed – in the past 6-12 months. We call these “cancelleds” and “expireds” in the real estate business, and as a savvy seller, your Realtor should also review these in recommending a price strategy for your home.
If your neighbor tried to sell their home at one price, unsuccessfully, for say 6 months, and you have the identical home, than the market has already spoken. Your home probably isn’t worth that price, so move to the next price benchmark. Learn from the sellers who have been unsuccessful.
On a side note, Ask your realtor what percentage of *their* homes have cancelled or expired in the past year. You may be surprised to learn the statistics!