Your home is your biggest asset, and when you are selling you want to get the absolute best return possible from your asset.
I’d say most sellers I talk to want to price high thinking that a high asking price equals a high sale price. In real estate, we speak of the list-to-sale price ratio, and it’s an important statistic to consider:
We associate high price with high quality. Many buyers perceive less risk and have more confidence with a higher price point, associating it with having a greater value.
It narrows down your buyer pool to only those that would consider a higher budget and values your home as much as you do.
Author Simon Sinek summed it up perfectly when he said “Value is not determined by those that set the price. Value is determined by those that choose to pay it.”