Sellers choose a list price for their home based on what they believe will get them the best sales price. The problem is they believe a higher list price will give them higher sales price, and that simply is not true.

For buyers to choose a house, they have to like the house AND the price. If they love the house but hate the price (because it's overpriced) the offers will come in slow and low. This is the "low-ball" cocktail. On the other hand, when they love the house and they also are excited about the price (because it's priced right), buyers come in "hot" and offers come in high...because now you have the powerful emotional cocktail of desire combined with the fear of loss. This is what I call the "High-Ball Cocktail" which is caused by a great listing at a great price. That is how you get the most money possible for a house.

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