Every homeowner thinks his house is the nicest and best kept in the neighborhood just as every parent thinks their kid is the cutest ever. A study* asking 300 Real Estate agents in the U.S. reveals that many homeowners believe their home is worth much more and tend to demand a higher listing price.
77% of all homeowners insist on listing their home for a higher price than the one recommended by a Real Estate professional; many of them are deeply disappointed if low-ball offers come in or worse, no offers at all. Many homeowners estimate that the value of their home is 10-20% higher than the proposed listing price, 40% believe the value of their home is up to 9% higher than the Real Estate agents assessment and only 6% of homeowners think their house is worth less than the listing price.
One final interesting detail: most buyers believe that the listing price is too high; however roughly 77% of all homes are being sold below the listing price.
*2012 National Home Value Survey