Interesting points are made. Real Estate agents always inflate asking prices to boost their commission and piss in the pocket of the vendor to increase their self esteem. People are very greedy and always have an over-inflated view, particularly those who have a deceasd estate.
From personal experience, agents tell vendors a figure $20K or 10% above their price. They then expect that the closing price is $10K below the asking price, which is actually $10K above what they thought the house could sell form.
If you watch asking prices and then check the sale price using Dept of Land reports, the gap is always around $10 to 15 K.
Those reports are worth their weight in gold!
To get a price down, always use the wet area as an excuse. Any wet area is around $15K to redo (kitchen, batchroom etc)