This is one of the biggest and most damaging misconceptions I have ever seen in my career. Homeowners feel that buyer will make offers (low ones) on homes that are listed for sale but priced over the current market conditions. I have even written a book on the subject called Get the Best Deal When Selling Your Home SE MI Edition.

Most owners believe that Buyers will make low offers if they don’t feel the property is properly price, but experience has shown that they simply do not make any offer. Most Buyers are looking at several and sometimes many homes prior to making the decision to put an offer in writing. When the Buyer finally decides to put their pencil to paper they generally look to see which home they liked the most that was price the best. They feel that if they are not going to offer full price they stand a better chance of getting their offer accepted if they can find a home that is asking close to what they want to pay. So they generally make their first offer on the better priced home.

Once they have made the offer they are mentally committed to that home and are much more likely to work through the negotiations and buy that home than they are to move on to another property. This is just another way of saying that if you wish to get your home sold in the Birmingham or Bloomfield Hills area you need to be priced right from the outset. Otherwise you may not even get the chance to get into negotiations.