Pricing is important. It's how buyers search for properties and it really determines if the property will sell or if it will sit on the market. Today's market is finicky. There are a lot of cautionary tails about the market receding and buyers are listening, weighing their options and many times slow to mobilize. When an over-priced property is launched, you essentially miss out on the pool of buyers that are looking in that moment of time. By the time you drop the price, your biggest audience will be new buyers to the market- and that can and many times does affect your proceeds. As properties stay on the market longer, their sales price to list price ratio diminishes. Although pricing can be a tricky thing- it's really in a seller's best interest to price correctly initially, appeal to the broadest pool of buyers possible and in turn have the best shot at the biggest proceeds. Make sure you know the comparables, have a knowledgeable agent on your side and do the research- because any savvy buyer will do the same.