Pricing
The first and largest negotiating decision, made before anyone can respond to it.
Price is not the number you hope to get. It is the instruction you give the market about who should look. Set it correctly and the opening three weeks produce concentrated attention from qualified buyers, which is the only reliable source of negotiating leverage a seller has. Set it aspirationally and you lose exactly the buyers who would have paid closest to your number.
The damage compounds. A property that sits accumulates days on market, and days on market is public. By the time you reduce, you are negotiating against a documented history that tells every buyer to wait for the next reduction. You cannot un-ring that bell, which is why the pricing decision is a negotiating decision made months before an offer exists.
Search filter thresholds matter here too: a home at $2,050,000 is invisible to every buyer capped at $2,000,000. More on the mechanics at luxury home values and pricing.