Absolutely!  Varied results. But if the comps show that the home is worth more, it is in the best interest of the seller to move the price up.  We took over a listing from another agent after the seller terminated the listing with the previous agent.  We did top notch marketing and raised the price.  The home sold immediately.  The other agent had the listing for 8 months with nothing happening.

In answer to your question Praful Thakkar YES!  I had a house on the market ... got a cash offer ... and after the seller invested almost $5,000 in repairs the buyer WALKED the day before closing.  We raised the price and we got a new offer right away and the buyer had to problem paying the new price!

Recently did with 2 commercial properties:
1. New tenants, higher rents, NOI increased, changed cap rate.
2. Previous LA had property underpriced and undermarketed; seller leaving money on the table.

Not in the middle of a listing... but I have increased an asking price on a listing where I've been the second or third agent in... and they have always sold.

Not usually but I can think of two examples which both occurred prior to marketing of the properties.

 Yes. 

     Sometimes to roll in the closing costs for FHA or VA low down/no down payment Buyers who didn't have much cash to work with.

    During the Boom (and a few times since) when we got a lot of activity and/or multiple offers.

Praful,

Sometimes as Lynnea Miller stated, it works beautifully to sell the property.  I have seen it happen.  A

We have done this many times over the years when conditions are right and 9 out of 10 times it has been successful. The key is to not be greedy and take every phsycological advantage available in its renaissance.

Yes, when I was the second, third or even fourth agent - absolutely! If the comps are there, you bet!

If you KNOW it's the marketing or prep work that is needed to sell the house and that you can get that price for the seller, then by all means, YES.

Yes, depending on the circumstance

Not that I can remember.

Yes!  If I get into multiple offer situations and the price is over list, I'll raise the list price if it falls out.  Outcome: Sold it again at a higher price... once or twice in multiple offers that drove the price up again!

Yes, and it worked

Yes when instructed by the client

Yes I have & for a variety of reasons. Buyers never like it.

We had to put in a furnace once & the seller wanted to raise the price to at least maybe recover 50% of it. 

I see swings up and down on the same listing quiet often, but i'm not a fan. 

I don’t believe that I have ever listed a home and subsequently increased the list price on the mls, Praful Thakkar. 

I have seen others do so. Two instances come to mind:

House listed. Goes into escrow. Falls out of escrow. Price is increased to reflect the offer amount that fell apart and which the seller now thinks is the “true” value. We are supposed to ignore the fact that the first deal failed. I have seen this numerous times

Home listed with offer to be present through a 3^rd party auction site. List price is way low since it is the auction starting price and is designed to excite buyers into making bids. No acceptable offers come in. Auction period lapses. List price is increased to reflect a more reasonable market value because house will now be sold in the traditional fashion.

Yes, I have seen upward Price Adjustments twice Praful Thakkar.  Both times it was because the houses went off of the Market for some renovations, and a month later when completed and back in the Active category, they also went up in price.  The houses were quite different - one had had renters for years, and needed some modernization, while the other was in the $500K range to start with and it went up considerably with the reno. 

Only when there has been a notable major improvement that can be documented. 

Yes.  Yes, I have.

Yes, in a crazy sellers market it can happen: when a round of multiple offers came in, we adjusted the list price to the average price they produced. This helped with the appraisal and when the offer fell through on a couple occasions, it set the expectations for the backup offers and new offers. 

only with new homes.... they're adjusted upward as the market will bear it.... 

I haven't had to, but woud if it made sense. I see a fair number of adjustments upwards in the MLS.

Yes, we do and change the price to be in writing 

Yes, we do. 

As Lyneea said, it depends of the market condition. 

Yes several times with good reason

Interesting question. Never.

I have not.  I've never had a need to. Amen to that!! 

Only on new construction.

I do not recall one of these situations.

Yes, upped price by $25K  on home that was previously listed, for over a year, with 3 other brokers. It sold in a few weeks at the new price.

If the seller did improvements, or it wasn't price correctly to begin with, an adjustment up or down may be needed.

In our area which often sets the trend for the rest of the US is price it reasonable. That is the secret to get multiple offers and get it sold at 115% of listed price often blows up neighborhood record in a record time. Those expecting to get high list high remaining on the market. After 3 weeks no one even takes notice of the homes.

It can be good strategy.  However not a good sign if the agent miscalculated the value previously. 

The higher price 'story' is modifications were completed, price adjusted.

The reality is the original price, which we all know buyers can see as well as previous purchase price, will skew buyers regarding the amount included in the offer submitted.

No not that I recall I like to suggest to sellers a competitive price particuarly in a Seller's Market like we have now in N. Virginia making it a great time to list your home for sale and market it so the home owner can leverage the Seller's Market

Yes

I have not but we have a few agents who practice this often..

I've done it a couple times over the past year. The market in our community is shifting so fast that the CMA could be different a week into a listing. So, I've adjusted to meet the market. 

Yes, when it was listed wrong to begin with or the seller decided it was too low.  Also if it falls out of escrow at a higher than list price and the new price makes more sense.

I have not but I can see depending upon the market and under special circumstance it is necessary to do so.

Yes I have.  Varied results.  Sometimes in a changing market and sometimes with upgrades.

Yes.

at the Sellers request

Yes whe I was the second agent for a developer of a midrise condominium. None sold before I took over. Sell out in 30 days with aprice increase! Great times!

Yes, on rare occasions.

Yes, after multiple offers, house went for $25k more.  That one TFT'd so when I put it back on the market, I listed it at what it had gone under contract for.  Got that price.

Yes, my clients temporarily took their home off the market, repaired/replaced the front wrap-around porch, put the house back on the market at a higher price, sold almost immediately.