Price it, sell it. Or don't.

12 Bryon Road, Old Greenwich, $4.995 million, highest and best offer immediately, now pending six days after hitting the market. Brother Gideon points out that, listing agent Ellen Mosher “has mastered the art of convincing sellers to price low, and let the market take it higher”. And that’s true, but it’s astonishing how hard it can be to convince home sellers that, as some of us have preached for decades, it’s almost impossible to underprice a house on the Greenwich MLS (where its fully-exposed to the market, as opposed to a private sale), but it’s entirely likely to kill a listing by overpricing.

Over the years I’ve blogged here on real estate, I’ve highlight house after house that started out overpriced, lingered on the market for months, even years, before selling for far less than it would have had it been priced correctly; this is true in slow markets as well as fast. If you want top dollar, don’t ask for it, and especially, don’t ask for more.

Just say no to the temptation; you’ll do fine..