A home that opens too high tends to sit, and every extra week on the market reads as a signal to buyers that something might be wrong with it, even when nothing actually is. By the time the price gets corrected down to where it should have started, some of that early interest is already gone.
The opposite mistake, pricing too low to guarantee a fast sale, leaves real money on the table just as easily. The number that works is the one supported by comparable sales and any documented improvements a public estimate would not know about.
Joel Dyck sets that number using a hand-reviewed valuation rather than a guess in either direction. Get your hand-reviewed valuation from Joel Dyck.