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The asking price is not a declaration from the universe about what a property is worth.
It is a marketing decision made by the seller and listing agent.
Sometimes it is:
- Aggressive
- Conservative
- Strategic
- Optimistic
- Completely unrealistic
That is why Lisa does not answer:
“Should I go over asking?”
until she looks at the property and market.
A HOME CAN BE UNDERPRICED ON PURPOSE
Some sellers price slightly below expected market value to attract significant activity.
If several qualified buyers compete, the final price can rise above list.
In that situation, offering above asking may be perfectly rational.
A HOME CAN ALSO BE OVERPRICED
If a house has been sitting for 70 days and comparable homes sold for substantially less, offering above asking would make very little sense without some unusual reason.
COMPARABLE SALES MATTER
Lisa looks at:
- Recent sales
- Current competition
- Pending properties
- Condition
- Location
- Unique features
Then she helps the buyer understand where the property appears to fit.
See what a comparative market analysis is.
HOW MUCH DO YOU CARE ABOUT THIS PARTICULAR HOUSE?
This is partly financial and partly emotional.
If the house is one of 20 similar homes:
You have options.
If it is:
- Rare one-story
- Exact location
- Large lot
- Casita
- Specific feature you have searched six months for
You may value it differently.
SET YOUR WALK-AWAY NUMBER
Before submitting in a multiple-offer situation, Lisa wants you to know:
At what price would you be okay losing?
If someone beats you by $2,000 and you know you'll be devastated, maybe you should have offered more.
If someone beats you by $30,000 and you think:
“They can have it,”
you found your limit.
APPRAISAL RISK
Offering above asking is not the same thing as offering above appraisal.
But a high contract price can create appraisal concerns.
Consider your available cash and the contract terms.
Understand low appraisal outcomes before you bid.
See how Lisa negotiates offers for the full strategy.
