If you price for the amount you expect it to sell for you might only get 1 or 2 offers even in a hot market. That can still work, you can get a great offer you

If you price for the amount you expect it to sell for you might only get 1 or 2 offers even in a hot market. That can still work, you can get a great offer you are happy with right away. But there is a significant risk that you won't get an offer you are happy with without this competition. A buyer who is willing to pay $2.5m might only offer $2.2m if there is no competing offer. You need to keep the home listed for a few more weeks until you get a better offer or more competition. If you put in a lower list price you will probably get 5+ offers, you can either pick the best one, or counter offer a few, and you can be almost certain that you will be under contract by mid next week if you list on a Thursday or Friday. Most people are also buying a home at the same time, if they are moving to another high cost area a delay of a couple weeks on the sale of their home can cause a lot of problems with their purchase.