Initial listing prices are arbitrary though, chosen to provoke the buying response the seller thinks will be best. If I think a house will sell for 100 units o

Initial listing prices are arbitrary though, chosen to provoke the buying response the seller thinks will be best. If I think a house will sell for 100 units of value and I list it for 80 and sell for 100, it went for 125% of asking. If I list it for 125 and sell for 100, it went for 80% of listing. Nothing changed about the health or frothiness of the market; the only difference was my listing price strategy.