"The First Cut is the Deepest?" Not in Real Estate

Seller Psychology

I would have given you all of my heart
But there's someone who's torn it apart
And she's taken just all that I had
But if you want I'll try to love again
Baby I'll try to love again but I know

The first cut is the deepest
Baby I know the first cut is the deepest

--Rod Stewart, "The First Cut is the Deepest" lyrics

Is the first cut the "deepest"-- the one that hurts the most -- in real estate?

Not in my experience (and many other Realtors').

That status seems to be reserved for the third cut, or price reduction.

It's at that point that many Sellers seem to reach their limit, and refuse to reduce their price anymore.

Sometimes that patience (stubbornness?) is rewarded . . . sometimes it isn't.