[boibuddha]

@Gerbs, as stated by many, posting a lower asking price wastes people's time and emotions.

There will be dreamers that think they have an opportunity at owning a place like yours, but they never truly had a chance.
Most people cannot afford to go overbudget on a mortgage by 20%.

For them to even place a bid and second offer, communication goes from buyer > realtor 1 > realtor 2 > realtor 1 > buyer > realtor 1 > realtor 2 > realtor 1 > buyer... just to tell someone they cannot afford it.
Plus a realtor has to show his clients your place because it is technically within their price range, even though the realtor knows your property is beyond what they can afford.
Now they all wasted their time going to the showing.
If their realtor does NOT show them, the buyers will think the realtor is not doing their job and let a deal slip by them. It's a lose-lose situation for the dreamer-realtor team.

The buyer's realtor should let them know exactly what they are getting into, but the false chance of owning it is too good to pass up for the buyer.

I dealt with this garbage in before buying my townhome in early 2017.
TH I was looking at was posted for $410k, it was sold for $520k. I put in an offer for $500k, thinking that almost 25% above asking was good enough.

This low listing tactic is no different than leading a person on when dating.