Yes, Monica, you are right - you are missing something.
You are missing your Buyers Agent's expertise.
I teach my buyers to ignore the listing price because it is irrelevant.
The only relevant issue is the value of the property.
If you like a home and want to make an offer, your agent needs to determine the value of the property, and then you make your offer based on that information. Listing prices can be high (very common) or low (not nearly as common, but it does happen) and sometimes they bear almost no relationship to the true market value of the property. Don't worry about the listing price, or offering a certain percentage of that price. The only prices that matter are the prices of properties that have actually sold. Those are the prices that determine market value. If you concentrate on value rather than list price, you will not over-pay for your home.... more