The short answer is yes. The initial listing price is only the start. If you start to get overwhelmed with showings, we may decide to raise the price before an offer comes. Conversely, if there are very few showings and no offers are coming in, we may decide to lower the price. Market conditions constantly change, and you have the flexibility to meet these changes.
Let’s dive a little deeper into listing prices. Here’s something most real estate agents won’t tell you.
The listing price has to appeal to 4 separate “buyers.”
It sounds strange, but it’s true. The listing price on your home has to appeal to 4 separate “buyers”, and usually in this order:
1. Other real estate agents who have buyers looking for homes
2. The eventual buyer
3. The appraiser
4. The underwriter
For each of these “buyers,” the key is the same. They need to see a strong match between the listing price and their expectations for your home. Otherwise, the deal will fall through.