As a listing agent there are different ways to arrive at the asking price for a property. Sometimes sellers are adamant at what that price needs to be. Other times they will take our professional advice based on our market analysis and expertise. When an owner is set on a specific number that may not be in line with reality...I try a little different approach.
Using market facts, I include recent sales, properties under contract and those that are currently on the market.
Compare to the seller's home and throw in the online estimates and zestimates. I even find out if they really did use the heavy duty nails in the construction.
When the seller is armed with all this information, I remind them how well they know the area since they actually live in the neighborhood.
Then I ask them to change places and pretend they are the buyers.
" What would you pay for your own house? "
Listen to the answers and to their dialog.