Raising asking price?

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bones

Well-known member
Noticed a few homes that raised their asking price after a few weeks on the market.  What's the strategy behind this?  If they already have offers at, above or below asking, what does raising the asking price do?  Or do agents do this to "bump" their listing?
 
i think they do this to create urgency, much like when interest rates start to rise people jump off the fence and buy for fear of rates rising.  if you think about it, the price was X and they have attracted offers why the hell would anyone pay X + 3% or whatever the new price hike is.  eventually if they get an offer im guessing its closer to the original X price. but they gave the appearance of giving the buyer a bigger discount.
 
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