We're not talking about "wiggle room", we're talking about crazy not in your lifetime pricing. Wild over-pricing by 10s of thousands of dollars, maybe even 100s of thousands. Not only does the home not sell on the first go-round, the sellers, having been convinced that SOMEONE will buy the home at the unsupportable price, get fixated on the number FOREVER. When the home doesn't sell, they may hear that "It's the market"; or "The market will come back". Which further serves to set the crazy price in their minds FOREVER.
So, they take the property off-market for a year in "reasonable" (in their minds) belief that during the interim the price-point somehow becomes supportable. They've been led to BELIEVE that. And they start calling around looking for another listing agent in the belief that a change could add to their success. Many listing agents will tell them the truth: Not possible. How crushing is that? It's horrible.
As real estate agents we want to "Make Dreams Come True". But the foundation for a dream has to be reality-based or it's fiction, a fairy-tale. A dream based on false hopes can turn into a nightmare.
