The benefits of overpricing your home in today's market…For you as the seller? None.The partnership between a listing agent and their sellers should be under girded with telling the harsh truth of ‘estimate' of value, (even if it costs getting the listing): "This is what I believe it will sell for" seasoned with "but I've been wrong before".A broker might have a willingness to try a slightly higher price for an agreed upon short period of time with agreed upon time periods for steady reductions in pricing until you reach ‘the sweet spot.' When hiring a listing broker you should demand honesty with realism. Don't hire the one who tickled your ear with promises of more money. An experienced broker can give you an expected range and then – in this market –give you a very worst expectation below that! What sellers have been slow to recognize is that your home has three competitors: 1. Bank Owned Properties (REO listing from banks' unemotional ‘clear it off our list now" low pricing). 2. Short Sales (sellers who have mortgage debt greater than current market value and don't care how low the price drops) 3. Sellers with enough equity who aggressively price their homes to sell, fully accepting current market conditions. It's a buyers' market and will be for quite some time. Buyers should expect to get a great value. Buyers' first questions used to be "Why are they selling?' Now it's, "How long has it been on the market?" Many days on market equates to proportionately lower offers. Releasing higher expectations in exchange for moving on can bring breathtaking relief.November 15 2010 - Mukilteo11YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.