IMO it is necessary in competitive markets. 

Check your competition and make sure your are under them if reasonable to do so.

PM business from what I hear is pretty tough and competitive business. 

This property had significant potential for value enhancement due to its location and condition.

I had a distinct advantage over my competition who had to do their own courthouse searchs.

Check to see how many contacts a listing has received in X amount of days to see if it is competitively priced.

And just so you know, here are some of the factors an agent will look at to figure that out:Market Conditions: If the market is slower, going all in on staging can make your home look move-in ready and attractive to buyers who may otherwise be hesitant.

This included some landmark deals including Rockefeller Center’s $3.5B loan and Miami Beach’s Fontainebleau $1.2B refinancingAlternative lenders filling traditional banking gaps with short-term solutions which has already begun a cycle of consolidation that will likely continue and accelerate in 2025The Office Sector Divide:CBD property values are down 50.7% from 2021 peaksClass A office properties seem to be in their own vacuum of prosperity with trophy properties commanding premium rents ($100+ PSF nationally, up to $247 in top markets) with strong occupancyHybrid work continues impacting older building valuations which have not faired as well, but this may begin to rebalance as more companies are instituting mandates to return to physical officesChallenges & Opportunities:$1 trillion in loans maturing by 2026Interest rates up from 3.5% (2021) to 6.74% (2024)Experts such as AEW’s Michael Acton and Blackstone’s Nadeem Meghji see the best entry point in the last 15–20 years and we agreeMarket Outlook:Current market conditions present unique opportunities, with inflation-adjusted prices at historic lows and yields at decade highs.

Also, for flips, I like to reserve an additional 15-20% in contingency for unforeseen conditions or changes. 

With a competitive landscape for all types of real estate I had a very difficult time finding opportunities where the price and numbers looked good, and the seller was motivated enough to carry a note.